Economics

The shortage in new listings is continuing to push the average price of homes up across the Greater Toronto Area.  Leading the way is the City of Toronto with the latest average price nearing the
According to economists, the key drivers of prices are looking increasingly weaker and are warning Canadians not to expect any sort of significant growth in house prices for the next few years.  The Scotiabank report came a week after TD's economic announced that it expects home prices to grow at 2% per year for the next decade.
Although the rate of credit accumulation is slowing, household debt in Canada hits new high in the fourth quarter of 2012, lending more evidence that actions taken by the Bank of Canada are stabilzing the housing market.
Well, its official... Toronto's real estate market has shifted into negative territory in its average price.  The October market marked the first month to month price decline (0.6%) since late last year.  Toronto's real estate market has continued to soften since the new mortgage rules went into