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Are prices on the rise again?

Toronto home prices and sales in August 2022 see month-over-month growth for the first time since February.
Alexander said Alexander if the Bank of Canada continues to raise rates, sales and prices could fall again.

It takes 60 to 90 days for consumers to digest higher interest rates.
If (the bank) holds firm, people will be fighting again over the limited product available.

Crystal ball?

Changes, changes, changes .... in all aspects of real estate.
Ontario’s housing market has been red hot for years now, but that could soon change, and some areas will be hit harder than others.

https://www.cp24.com/news/these-are-the-areas-where-ontario-housing-prices-will-take-the-biggest-drop-1.5948453

Canada risks housing-related recession if interest rate hikes get too aggressive

Real estate is the biggest business in Canada.
It is an engine of the entire economy.
Yet ...
In a Tuesday update, senior Canada economist Stephen Brown noted the central bank seemed unfazed by a double-digit drop in home sales in May — the second consecutive such monthly drop — and that it was adopting an increasingly hawkish tone on inflation.

It is not just one way lately ...

The recent GTA market is challenging.
We are witnessing significant changes in prices: from 30 percent drops to 12 percent jumps — why some GTA real estate markets are hot while others are not.

https://www.thestar.com/news/gta/2022/06/07/from-30-per-cent-drops-to-12-per-cent-jumps-why-some-gta-real-estate-markets-are-hot-while-others-not.html

Who profits the most form unaffordable housing?

Rental and purchase housing unaffordability will be the top-of-mind determining factor in our next provincial and federal elections. The federal political parties are indistinguishable when reviewing their respective solutions. None understand the core fundamental causes of unaffordability, nor do provincial housing ministries and CMHC.

https://www.realestatemagazine.ca/who-profits-most-from-unaffordable-housing/

Some facts and some speculation

The crazy year 2021 is gone and a new year 2022, probably crazier, is upon us.
I have attached the link with tonnes of information
Go through it at your leisure. Lots of interesting stuff ...

https://indd.adobe.com/view/ce62a7f5-525e-4321-a652-c15bb46bc88b

Courts say it’s on the buyers to confirm a home’s size

A decision of Ontario’s Divisional Court serves as a reminder that home buyers cannot rely on a published listing when it comes to the interior size of a home.
Michael Mitchell and Richard Bowring owned a bungalow in Mississauga. In July 2020, they listed it for sale through the Multiple Listing Service (MLS). The listing represented the interior of the house as having “Apx Sqft 2500-3000.”

Unfulfilled promise to transfer family property upheld by appeal court

In a recent decision, the Ontario Court of Appeal addressed the longstanding relationship in estate litigation between the enforceability of promises, unjust enrichment, and the remedy of the constructive trust. Parents who are considering transferring property to their children or other family members should know the possible legal implications of unfulfilled promises as shown in Tomek v. Zabukovec, 2021 ONCA 723.

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