The five- and 10-year averages for price growth in newer downtown Toronto condos is 15% and 8%, respectively. GTA-wide, the 10-year average is also 8%.
Families who send their children to college are at greater risk of losing their homes due to the increased financial burden.
This is particular evident during recessions according to an academic study of data in 305 US commuting markets in the lead-in to the Great Recession in the late 2000s.
The study by Jacob Faber of New York University and Peter Rich of Cornell University found that banks often foreclosed on the homes of families who were supporting children’s further education.
Taking note of unemployment rates, refinance mortgage debt, home prices, and the number of 19-year-olds living in these areas, they found that higher rates of families with children starting college correlated with a higher rate of foreclosures in the following year.
"This may help explain why some families with children were more likely to experience foreclosure during this period than childless households - as shown in previous studies. Our findings do not suggest that households' decisions to send children to college were as consequential as housing or labor market dynamics in shaping the Great Recession, but it is important to understand all contributing factors, especially because the penalties of foreclosure can be substantial and lasting," says Faber.
Household income was not the issue with the study, published in Springer's journal Demography found that the link persisted across income distribution.
News of a fixed rate increase might inspire consumers driven by fear of being priced out of the market in Canada.
Even before COVID-19 moved us all to work from home, reevaluations of office space were already underway, but not nearly to the extent they are now.
This consultant and real estate investor said that a third of new construction properties built every year in Ontario have legitimate claims for reimbursement, but they aren't taken advantage of.
New condos going up on King St. E. and Berkeley St. by Lamb Development Corp will be 32-storeys and the new Ontario Line subway route station.
Condominium sales in the City of Toronto surged by 63.2% year-over-year in February to 2,167, according to the latest data from the Toronto Regional Real Estate Board.
According to GTA-based Seth Ferguson, CEO of Multifamily Real Estate Investments Inc., Texas has arguably the most propitious horizon in the Sun Belt.
In 2020 alone, this commercial real estate team did over $60 million in commercial sales in Toronto.
Craig Proctor, top Canadian real estate agent and coach, offers advice on how to dominate during these crazy real estate times. Join his Millionaire Agent-Maker SuperConference March 19-21.
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