While some real estate agents look to foreign lands for Toronto condo buyers, new reports are saying that absentee owners can create trouble for their tenants. All a situation that mortgage brokers toronto will do well to keep an eye on.
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Canadian home sales are being dragged down by Vancouver. The Canadian Real Estate Association (CREA), reported just that on May 15. They said that while Canada’s home sales had a good April and edged higher then. The same report says Toronto is boosting Canada’s real estate fortunes. The average price increase was about eight percent in April.
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Toronto’s inner core market for office space is getting ready to explode with construction yet again. According to some recent news reports, the commercial real estate industry is watching the office sector for that one spark that will kick start the process.
There is an idea that Brookfield Office Properties will start building in Toronto’s office market. They have announced the second tower for its Bay-Adelaide Centre. The first tower sparked a round of construction when it was first announced in 2006.
Accounting and consulting firm Deloitte Canada might be the people who are being courted for the other tower. As well, there are rumours the CPP Investment looking for a significant amount of office space. All good indications that things will stay strong for Mortgage Brokers Toronto.
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CMHC ‘s Karen Kinsley spoke recently before a Senate committee about the changes affecting the nation’s largest mortgage insurer once Bill C-38 is enacted. They include:
- OSFI having a new and expanded role
- A mandate that will be revised according to quite a few insiders.
- How CMHC’s role will be different in the covered bond market.
