More than half of Canadians are feeling “financially paralyzed” amid the surging cost of living, according to a new poll. Fifty-five per cent of Canadians used that language to describe their finances, according to the survey commissioned by the Royal Bank of Canada (RBC). Nearly half (48 per cent) added they could no longer afford […]
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Tenant removed from Ontario apartment after 4-year fight
After about four years of frustration, a Brampton, Ont. man and his wife finally got back their 32nd-floor Toronto waterfront condo apartment unit after their tenant was removed by the Sheriff. “I’m at a loss for words, this has been a harrowing experience,” said Narinder Singh, interviewed minutes after the eviction had taken place. Singh […]
Is now the time to buy a condo in Toronto?
After a sluggish year for Toronto’s real estate market, big interest rate cuts have set the stage for change in 2025. CBC’s Talia Ricci spoke to experts to find out what’s in store for buyers and renters this year. Published: 2025-01-02 If you decide to buy a new construction condo in Ontario, check out this […]
3088 Kennedy Road (aka Villa Elegance) – For Sale
A condo unit on 3088 Kennedy Road is up for sale. This condo property is also known as Villa Elegance, located in Scarborough, Ontario at the corner of Kennedy Road and McNicholl Avenue. This place specializes in seniors living and the main population of the residents are Cantonese speaking people. I’m using this old blog […]
Toughest time ever to buy a home in Canada?
It may be the hardest time in history to buy a home in this country, according to a new study by RBC economists. Andrew Chang breaks down the data to understand why it’s so much harder today to afford a home than it has been in previous decades, and whether any relief is on the […]
Why Are So Many Big City Condos Sitting Empty?
In the midst of a housing supply crisis, thousands of condos in Canada’s largest cities are sitting empty. Most, experts say, are less than 500 square feet. Andrew Chang explains why there’s been an explosion of these so-called ‘shoebox’ condos, and why they’re suddenly struggling to sell. If you decide to buy a new construction […]
Interim Occupancy Fee for Condos Explained (aka “Phantom Mortgage”)
The Interim Occupancy Date So, you bought a new condo and you got your letter that you can move in. It has the term Interim Occupancy bolded with a move in date. This was the interim occupancy date. You may be excited, but, for me, that wasn’t a pleasant notice. It was at the time, […]
The Mexican Fisherman and Investment Banker Parable
This is a short parable I first read in MoneySense many years ago. I recently thought about it again and searched for it and I want to share it with you. I do think it is such a fantastic parable, especially during these crazy times of higher inflation, higher interest rates to fight inflation, excessive […]