This Ontario city has the most overvalued real estate market in Canada

Good luck buying a home anywhere in Ontario right now, as meteoric price gains and a historic inflation spike push housing markets in the province further out of reach.

And as bad as things are in the Greater Toronto Area in 2022, rampant speculation is not limited to urban centres. According to one housing market assessment, Peterborough is now the single most overvalued housing market in the entire country.

Moody’s Analytics has ranked Peterborough, Ontario, at the top of the list for most overvalued housing markets in the company’s fourth-quarter assessment of housing price valuations in Canada.

Peterborough’s 107.8 per cent valuation comes after years […] Read more

Ontario Real Estate Association – COVID-19

Ontario Real Estate Association – COVID-19

Government policy with respect to the COVID-19 pandemic is being updated daily and the Ontario Real Estate Association (OREA) has your back in getting you the latest and most important information to keep you, your clients and communities safe. I have two breaking news updates for you. One is on virtual open houses and the other is related to NR12 evictions. Open House Prohibition & Virtual Open Houses As you know, last week the Province announced a prohibition on open houses. OREA was one of the first associations in Canada to urge Members to stop hosting open houses. I am happy to report […] Read more

Financial help for Canadians affected by COVID-19

Find the benefits relevant to you

Get information on what’s available to: those who have lost income; renters and homeowners; families; seniors; students; businesses; Canadians abroad. There’s also a personal finance section with information on tax and utility bill deferrals. This guide provides the basic benefit information you need to apply for subsidies.

This includes:

Who can applyDate availableHow to applyLinks or phone number to make a claim

Continue Reading ….

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Persian New Year, or Nowruz, explained

Persian New Year, or Nowruz, explained

Nowruz marks the end of the old year and the beginning of a new one, and it occurs on the day of the vernal equinox.

More accurately, the new year begins the second the equinox does — so, not just at the stroke of midnight. Usually, the equinox happens from March 19 to 21; this year, Nowruz lands in the evening of March 20. (Though if you’re an expat Iranian, the equinox arrives around 12 pm Eastern.) But there are also aspects of Nowruz that permeate Persian culture for weeks leading up to the holiday and even a couple of weeks afterward.

No […] Read more

We’re ready for the TRID rules!

At 5 p.m. EST June 17, the Consumer Financial Protection Bureau issued a statement that the effective date for the TILA-RESPA Integrated Disclosure (TRID) rules would be pushed back to Oct. 1, 2015.

CFPB Director Richard Cordray said in a prepared statement: “The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until Oct. 1, 2015. We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks. We further […] Read more

Real Estate Roundup

Active Home-Building Industry Will Lead to More Demand for Warehouse Space

Strong consumer spending and the rise in housing construction activity are currently the prime factors for the incredible rebound of the U.S. industrial real estate sector, and experts say as home buying continues to increase, so will demand for warehouse space. — From NRE Online

To Buy or Not to Buy: That Is the Developer’s Question

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