«It is clear that demand for
ownership housing remains very strong in the GTA.
Not exact matches
TORONTO, March 30, 2017 - While home
ownership costs
remained historically elevated in Canada, they levelled out in the fourth quarter of 2016 after climbing steadily for a year and a half, according to the latest
Housing Trends and Affordability Report issued today by RBC Economics Research.
2017.03.30
Housing affordability trends in Toronto and Vancouver diverge: RBC Economics While home
ownership costs
remained historically elevated in Canada, they levelled out in the fourth quarter of 2016 after climbing steadily for a year and a half, according to the latest
Housing Trends and Affordability Report issued today by RBC Economics Research...
2016.02.29 Home
ownership in Canada
remains affordable... for buyers outside Vancouver or Toronto: RBC Economics Q4 2015
Housing affordability generally
remained stable across Canada in the fourth quarter of 2015, with the exception of the scorching Vancouver and Toronto markets where soaring home prices continued to raise the bar on homeownership...
And, despite historically low interest rates, affordability measures such as the RBC
Housing Affordability Index, which measures home
ownership costs as a percentage of household income,
remain stubbornly high.
With both the
House and Senate having passed their respective education bills, NSBA
remains steadfast in working with lawmakers on both sides of the aisle to pass a final bill that restores community
ownership to local school boards, maximizes federal funding for Title I, and excludes private vouchers, tuition tax credits, or existing voucher programs.
«TREB will release its official 2016 outlook later in January, but suffice to say that the demand for
ownership housing is expected to
remain very strong in 2016,» said Jason Mercer, TREB's director of market analysis.
If a spouse owned the
house home prior to the marriage and didn't put the other spouse on title or otherwise mix up the
ownership with jointly owned property, then it
remains separate property and it is not subject to equitable distribution.
But social
housing lawyers at national firm Clarke Willmott LLP say the focus
remains heavily on home
ownership rather than affordable and social rent.
A closed market will ensure that
housing remains in local Aboriginal
ownership but may mean lower prices.
Meanwhile, as it
remains difficult to access financing to purchase
housing, the middle class won't necessarily be poised to leave renting for
ownership, despite the increase in incomes, and the number of renters is expected to keep climbing over the next couple of years, says Anthony Cazazian, chief investment officer at property management firm Renters Warehouse.
Despite stricter mortgage lending guidelines and the possibility of slightly higher borrowing costs, on average, there will be many buyers who
remain upbeat on the purchase of
ownership housing,» said Jason Mercer, TREB's Director of Market Analysis.
For over 50 years, Harborlight Community Partners (HCP) has
remained missionally committed to the preservation and creation of affordable
housing; as part of this mission, HCP is working to create pathways to
housing by assisting first time homebuyers enter into the real estate market and achieve home
ownership.
As we move forward through 2017, we expect the demand for
ownership housing to
remain strong, including demand from first - time buyers who, according to recent surveys, could account for more than half of transactions this year.
«While the current economic crisis has caused some first - time buyers to either take it slowly or apply the brakes, home
ownership remains a top priority for those who are able to take advantage of reduced carrying costs, rock bottom interest rates and lower
house prices,» says Michael Polzler, executive vice-president and regional director, Re / Max Ontario - Atlantic Canada.