REAL ESTATE 'CHAOS' SENDS MILLENNIALS SCRAMBLING BEFORE THEY'RE PRICED OUT The modest house in west Toronto wasn't their ideal starter home, but with a little compromise, it was close enough. Besides, it has a newly renovated kitchen and there was a daycare centre right around the corner.  The semi-detached was listed for an enticing $649,000 in a neighbourhood where 30-year-old Elia Briganti grew up, where much of her family still lives and where she'd like... [read more]

TORONTO HOME SALES DROP MOST SINCE RECESSION AS NEW RULES PUT BRAKES ON MARKET Garry Marr, National Post Image courtesty of: Laura Gangi Sales of existing homes across the Greater Toronto Area dropped a whopping 20.3% in May from a year ago, while the average home price in the region fell about 6% from April, results based on the first full month of data following a major initiative by the Ontario government to cool Canada's biggest housing market.  The Toronto Real Estate... [read more]

HOUSEHOLD DEBT CLIMBS TO RECORD LEVELS, DRIVEN PARTLY BY HOT REAL ESTATE MARKETS The amount Canadians owe compared with how much they earn hit a new record in the second quarter, driven in part by the country's hot housing markets. TD Bank senior economist Leslie Preston said low interest rates have made borrowing more attractive, especially for homebuyers, and predicted the debt ratio could continue to trend a little higher in the next few quarters.  "We think... [read more]