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Housing Market Poised to Lead Economy Out of Recession: Economist

In the meantime - in the US: 
U.S. housing started plummeted more than 30% in April to a seasonally adjusted annual rate of 891,000 units. Homebuilding has slowed more than 40% since February, sending residential construction back to 2015 levels.


Market update: Despite coronavirus, GTA real estate prices are rising slightly

We all are expecting significant changes in the GTA real estate market values. After al - this pandemic is wrecking general economy drastically.
But - despite the economic chaos caused by the novel coronavirus, home prices in the Greater Toronto Area are up slightly from this time last year, data obtained by Global News shows.
The modest increase was seen both in the Toronto-area 905 suburbs and also in the 416 area code.

Ontario pushing through changes to tenancy law as crisis looms

We all know that existing residential tenancies law in Ontario is not fair to the landlords. So-called "professional tenants" knowing the law can stay on-premises for months without paying rents.
The Ford government is pushing through changes to tenancy law that will make it easier for landlords to evict tenants in Ontario even as the COVID-19 pandemic puts hundreds of thousands of renters in an increasingly precarious financial situation.

New normal? Online Home Searches Reach and Surpass Pre-Pandemic Levels: Survey

There is lots of talking about the "new normal" life in real estate.
This story will help you to see new trends.

New guidelines issued for home showings as ‘buyer pressure’ heats up

I have two new listings and I clearly noticed the changes in the behaviour of the potential real estate buyers.
Consumers in the real estate market can expect more digital, low-touch home searches and transactions to continue for the foreseeable future.
Realtors are being advised against handshakes and taking clients out in their cars even as the industry prepares for more activity in the coming weeks as the economy reopens.

Commercial tenants and landlords and COVID-19: "force majeure"

My experience during COVID-19 drew upon two “laws” I learned early in my law career: what’s legal isn’t always fair and contracts are as good as the parties who sign it. Why am I telling you this?

34% of Torontonians Still Say They Want to Buy a Home in the Next 12 Months

Despite the uncertainty the COVID pandemic has caused for Toronto’s real estate market, residents are still interested in buying a new home in the coming months, according to a new survey from the Toronto Regional Real Estate Board (TRREB).

Home sales are down 69% — is this a once-in-a-decade chance to get into Toronto’s housing market?

House-hungry millennials could be forgiven for hoping that the silver lining in COVID-19’s economic rampage is an unexpected shot at the real estate market.
With home prices set to soar at the start of this year, many would-be buyers went into lockdown feeling priced out and discouraged by heated bidding wars and bully offers.

Additional Details On The Ontario-Canada Emergency Commercial Rent Assistance (OCECRA) Program

Late last week Prime Minister Justin Trudeau provided some insight and details into the Canada Emergency Commercial Rent Assistance (CECRA) program which was initially mentioned on April 16th. During the Prime Minister's daily address on April 24, 2020, he announced that the Government of Canada had reached agreements with all provinces and territories to lower rent by 75% for small businesses that have been strongly affected by Covid-19.

COVID-19 clauses create vague and unnecessary loopholes in property purchase agreements

Four confusing and dangerous COVID-19 clauses have been offered for real estate professionals to consider using in purchase agreements.
The Ontario Real Estate Association (OREA), an advocacy group for Ontario’s 70,000 realtors, publishes the standard purchase and sale forms used by all real estate agents in the province.
OREA’s four new “state of emergency” clauses are posted on its members-only website to “assist” parties to real estate contracts in coping with the ongoing pandemic.

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