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The Home Price Index - what it is and why TREB is pushing it more

Monday Sep 25th, 2017

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The MLS® Home Price Index ("HPI") has been emphasized a bit more by the Toronto Real Estate Board ("TREB") recently, and I've been seeing it mentioned in the media a bit more of late. This index is supposed to work like the Consumer Price Index ("CPI") that most are familiar with. The CPI tracks changes in price of a "basket of goods and services," while the HPI tracks a "basket of home attributes." In both cases what's in the basket... [read more]

How NOT to climb the property ladder (Toronto Life article)

Wednesday Oct 25th, 2017

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The November 2017 issue of Toronto Life seems to have given me a lot to write about since I just posted my take on their "Next Hot Neighbourhoods" cover article. This post is about a semi-regular feature called "Property Ladder" where they show the journey where people have climbed from a starter home worth X to their current home worth Y. It generally is presented like "Wow, look at the great house they have now. These people were so smart/fortunate to get in... [read more]

Pre-construction condo fees - grossly understated?

Friday Nov 24th, 2017

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I was in a recent Toronto Star article on buying pre-construction condos, and I've been sitting on this data for a long time and meaning to write a post about it. Here's that post, on condo fees being higher in reality than were  advertised to you when they sold you your unit. photo by JasonParis, Creative Commons license How prevalent is underestimation by developers? First a bit about what these numbers are based on. I was provided with a... [read more]

More REALTORS® in GTA than outside of Ontario

Wednesday Dec 13th, 2017

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*MILESTONE ALERT* Based on the latest TREB membership numbers, we have now surpassed 50,000 REALTORS® working with the Toronto Real Estate Board (TREB). There are only 50,000 Realtors working outside of Ontario in the other 9 provinces and territories put together! The July 1 population of Canada in 2017 was 36.7 million people¹. Currently roaming among us in this fine country are 120,000 Realtors (per Canadian Real Estate Association). The Ontario Real... [read more]

Revisiting the house / condo price gap

Friday Oct 19th, 2018

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Back in March I wrote a blog post looking at the price gap between detached houses and condo apartments in the 416, noting it had come well off of the spring 2017 highs and was back to 2015 levels (on an absolute dollars basis) or 2013 levels (on a ratio basis). At that time I wrote: It may be a good time for move-up buyer to swing from a condo to a house as the price gap is back to 2015 levels. Then again, there may be more gap shrinking to come. I don't have a crystal ball,... [read more]

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