Canadian Realestate Magazine forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Big banks are freaking out about Toronto real estate

Notify me of new replies via email
Justin da Rosa | 01 Mar 2017, 08:15 AM Agree 0
Sparking speculation that further mortgage rule changes could be in the offing
  • David | 01 Mar 2017, 02:18 PM Agree 0
    The Canadian Govt could easily find the percentage of foreign buyers that are in the market by checking the FINTRAC forms that are collected on every home transaction - unless of course home buyers or their agents are lying.
    • Maureen Graham | 03 May 2017, 12:00 PM Agree 0
      So true ...... what are we collecting this info for ? Use it !!
  • george | 01 Mar 2017, 04:53 PM Agree 0
    forget T.O...come to London..for a cool half million you can have my "raised bungalow in WESTMOUNT, lot 76x293, (half acre) separate entry to lower granny flat (self contained)..main floor, 3 bedroom, new windows, new roof (6 month old), central air, 2 fridge, 2 stoves, jet tub (in the granny flat), all hardwood floors, wall to wall broadloom, carport, large rear fenced yard for the pooch, deck, retractable awning (electric), 200 amp service, 5 years old, copper plumming, copper wiring, dement pad, parking for 5 vehicles, for an extra 45 bucks you can have my black sheppard (30 months young)...but since I live around the corner chances are he will run home. if he does I will plow the long driveway all next winter. 519 657-5577
  • Ian Hocking | 05 Mar 2017, 05:39 PM Agree 0
    Interesting that Canadian banks are "Freaking out " when to some degree they are behind the rise.
    A) take a look at the amount of foreign debt the banks are racking up, yes you guessed it the Canadian banking system is lending money to foreign buyers at an increasing rate
    B) when a house in Barrie is worth $450k 12 months ago and today sells $50k over asking at $625k ,exactly how are the banks saying , "that's ok, it values" duh !! It only value because there is, for now, a buyer behind them. The valuation system is out of whack with reality.
    If the banks are so concerned with the housing market maybe they should consider their own lending practices before asking the govt or a city to slap a tax on so they can blame someone else. I know only too well where the money is coming from that is driving this market, and it's pure speculation. In barrie we have never seen so many homes bought and left vacant. If you want to rent a house in barrie at the moment it's the easiest it's ever been, and the new owners are struggling to find people who can pay the rents they need to support their purchases.
    Did someone say bubble !!
  • Glynis Van Steen, Mortgage Broker | 16 Mar 2017, 06:04 PM Agree 0
    Of course the Big Banks, main stream investment advisors and policy wonks are still thinking far too INSIDE the box. If Banks offered true reverse mortgages they would be singing a different tune. People over 55 who live in these overpriced homes could partake in he transfer of wealth to the next generation so that could help their younger family members purchase homes. Many young people can make the payments but just cannot scrape up the downpayment. Seniors, with sufficient equity in their principal residences are eligible to take out reverse mortgages, accessing their hard earned equity windfalls with ZERO tax implications. Seniors have a right to access their equity to do whatever they want with it. We now have real estate values soaring due to government short sightedness, but also because Canada is a safe haven relative to many places in the world. Prices will continue to increase due to this incredible demand outstripping supply. I say to all Seniors, please take advantage of this "so called" bubble and stop being asset rich and cash poor.
  • Jeremy | 05 May 2017, 04:29 PM Agree 0

    TREVI ORTA JOB OPENINGS/VACANCIES

    1. Drivers - $1,000
    2. Advertising agents - $1,700
    3. Real estate experts/brokers - $2,100
    4. Marketing manager - $2,400
    5. Public relations agent - $2,300
    6. Staff accountants - $2,700
    7. Receptionists - $1,500. e.t.c.
    There are other vacant positions so interested people can apply via the company's
    application email on treviortaestateholdings@gmail.com. Application entries are now
    open.
Post a reply