Sales Commentary
As we pointed out in our last Report, the market is starting to improve. March sales as reported by TREB at 6171 units were only 7% lower than in 2008, and higher by 50% over February. Last year, the February to March increase was only 10%. My other comment in the Report was that [...]
Public Wants Toronto Land Transfer Tax Repealed
April 13th, 2009Public Wants Toronto Land Transfer Tax Repealed
April 10, 2009 — It is no secret that REALTORS® are strongly opposed to the Toronto Land Transfer Tax, but a recent public opinion poll shows that we are not the only ones that feel that way. In fact, the poll shows that a strong majority of the public [...]
Strategists see silver linings in housing reports, but the long-term forecast is anything but clear
April 7th, 2009“It means that few consumers are distressed or panicking, and it is limiting downward pressure on prices. On the other hand, it signals there is reduced interest in move-up buying and points to continued slow sales in both the resale and new homes markets.”
Read More »Can You Afford It?
April 5th, 2009You have enough put aside for a sizable downpayment for a condo your Realtor just found for you. The location, the amenities, the set up – everything about the condo is perfect. You can’t let this one go. But can you really afford to buy it considering all of the new expenses you’ll have?
Well, for [...]
Read More »Harmonized Sales Tax Toronto
April 1st, 2009The Provincial government will, starting July 10, 2010, convert the Provincial Sales Tax (PST) to a value-added tax structure and combine it with the federal Goods and Services Tax (GST) to create a single federally administered harmonized sales tax. The single sales tax would have a combined tax rate of 13 per cent.Under the proposed sales tax harmonization, legal fees, real estate commissions and home inspection fees will be subject to the harmonized sales tax at a rate of 13 per cent.
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