October 31, 2016 6

Mortgage

New Mortgage Rules: Myths and Truths

Over the past two weeks, I’ve been asked countless times – and there’s no hyperbole there, why I haven’t written about the new mortgage rule changes, and how they might affect the market.

Well to be quite honest, I think it’s much ado about nothing, and the “changes” are modest, compared to changes enacted by CMHC in the past, which of course, had no effect.

But I’ve heard so many mistruths about the new mortgage rules, and seen so many incorrect reports in the media, that I figured it’s time to clear the air.

I’ll call in reinforcements from my mortgage broker today so we can set this straight…

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October 28, 2016 14

Condos

Toronto’s Million Dollar Condo Market: Not Quite What You Think

What would you say if I told you that there aren’t enough million-dollar condos in the city of Toronto?

Would you cry me a river, or maybe direct me to the world’s smallest violin?

I’ve spent some time examining the number of million-dollar condo sales over the past ten years, and honestly, what I’m seeing is that there just aren’t enough of them!

Let’s take a look…

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October 26, 2016 20

Business

National Bank: Vancouver Home Prices To Drop 20%; Toronto 3%

Do the words “special report” have a special meaning to you?

I hear “special report,” and I have flashbacks to the 1980’s, with my after-school G.I. Joe cartoons being followed by news out of Buffalo; usually some local story about the high school football team’s bake-sale helping to fund-raise for much needed new uniforms!

In any event, National Bank released their “special report” on Friday, and it’s starting to make the rounds.

A 20% drop in Vancouver home prices is just the appetizer in this one…

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October 24, 2016 54

Investing

Buying A Toronto Condominium For Investment

We talk a lot on TRB about “investment properties” in Toronto, and we throw around investment terminology and metrics, but often we don’t go into detail.

We also agree and disagree about the merit of these investment properties, or just what constitutes and “investment” in this city.

So today, let’s delve into a real-life example of an investment property – one that I just sold to a client on the weekend.

Then feel free to give your opinion on the merit of the investment, or input on the process, evaluation criteria, and everything in between…

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October 21, 2016 14

Opinion

What Do You Do In The Second Round Of Bidding?

For those of you that have been through a multiple-offer process on a house, you probably have your own stories on how the evening went down.

Did you “win” with the first bid?

Were you asked to improve?

How much did you come up, and how did you decide on that?

For those of you that haven’t been through the process, let me help prepare you…

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October 19, 2016 5

Development

The Most Avoidable Cause Of Traffic Congestion In Toronto

It’s the most avoidable, and it’s also my most hated.

I’ve talked about this in the past, and for the life of me, I can’t understand why Toronto city council continues to allow condominium developers to essentially “lease” an entire lane of traffic for years at a time, and motorists, cyclists, and pedestrians suffer.

Just because I sell condos for a living doesn’t mean I’m not outraged at the bending-over-backwards that the city does to accommodate developers.

Shutting down lanes of traffic is unnecessary, and if you believe John Tory, it’s going to stop…

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