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A private investigation firm working for a title insurance company says a handful of organized crime groups are behind a string of real-estate frauds in the GTA — where at least 30 homes have either been sold or mortgaged without the real owners’ knowledge. (Cole Burston/Bloomberg) A year ago, Melissa Walsh says police assured her family […]
Why Canada’s housing market is stronger than it looks – and recovery is just around the corner Naomi Oliver January 21, 2023 It’s hard to imagine the housing market being any weaker than what we’re going through right now. But the market is stronger than it looks. And that will become clear later this year […]
Yesterday, Minister Steve Clark and the Ontario Government released the much-anticipated report from the Housing Affordability Task Force. The report highlighted that Ontario needs to build 1.5 million homes to meet demand and address the affordability crisis. OREA had asked the Province to create this Task Force and we had a direct role in drafting […]
Municipal Land Transfer Tax Increase NOT Implemented TRREB is applauding Toronto City Council for listening to the concerns we expressed, and deciding to not implement an increase to the Municipal Land Transfer Tax (MLTT) on homes priced over $2 million. City Council directed staff to conduct a comprehensive study of all revenue tools and options […]
TORONTO — A Toronto budget briefing note reveals that the city could yield an additional $18.7 million in revenue this year—if the city council is willing to implement a luxury home tax. Properties valued at more than $2 million are currently subject to a municipal land transfer rate of two-and-a-half percent, in addition to provincial […]
