Ontario Mortgage & Real Estate Insights Podcast
We cover the daily developments, trends, and regulatory changes affecting the industry, powered by an AI Steve Hamoen. Get insights sourced from reputable news outlets to help you stay informed and make well-informed decisions.
Toronto Housing Trends, Mortgage Strategies, and GTA Market Updates
In this episode, we begin with a welcome and an acknowledgment of our sponsor. The discussion opens with an analysis of Toronto's housing market, focusing on low housing starts and their impact on rentals. We delve into mortgage renewal strategies amidst shifting market conditions. The conversation broadens to include real estate dynamics across the Greater Toronto Area. Attention is given to underbidding trends and findings from a mortgage fraud survey. We also provide updates on East Gwillimbury's market, informed by a recent CMHC report. The episode wraps up with closing remarks and a final mention of our sponsor.
Key Points
- Toronto is on track for its lowest annual housing starts in 30 years, largely due to a significant decrease in condo starts driven by reduced investor demand and rising construction costs.
- A wave of mortgage renewals is set to test Canadian borrowers, with many potentially facing higher payments, though proactive planning and lender flexibility may help mitigate the impact.
- A majority of Canadians are calling for tougher action on mortgage fraud, with strong support for a Canada Revenue Agency-enabled income verification tool to protect against fraud and stabilize housing costs.
Chapters
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Transcript
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