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A Toronto rental building near Yonge and Bloor could be replaced with a 69-storey, 814-unit tower. Toronto has approved 117 rental demolitions in five years, and tenants call it demoviction. Progress, or eviction with a permit? Source: CTV News Toronto Gary A. McGowan | Keller Williams Realty Centres, Brokerage #TorontoRentals #Demoviction #HousingCrisis

ew condo sales in the GTA hit a September record low of 129 units, while new townhomes and houses beat the 10-year average with the same HST rebate. Builders want the rebate rules changed so more condos qualify. Save the condos, or let the market decide? Source: BILD, Altus Group Gary A. McGowan | Keller Williams Realty Centres, Brokerage #TorontoCondos #TorontoRealEstate #NewHomes

A Mississauga mayoral candidate wants to permanently freeze property tax increases for seniors, but the increases build up and get collected when the home is sold or transferred. BC's deferment program now charges prime plus 2%, compounding monthly, on new deferrals. Fair to seniors, or a bill for the kids? Sources: Toronto Star, candidate's published platform, Government of BC Gary A. McGowan | Keller Williams Realty Centres, Brokerage #PropertyTax #CanadianRealEstate #Seniors

Download the Buyers, Sellers and Negotiation Guides here: http://garyamcg.com/guides Is the Canadian housing market finally at the bottom? Prices are down 21.2% from peak, the steepest correction in 50 years, and buyers are still on the fence. I went slide by slide through the latest national numbers to answer one question: are we in a crash, a bottom, or a recovery? In this episode: • Consumer confidence at 54.8, near record lows • September sales by province (only Alberta was up) • Why Quebec is turning into a buyer's market • The steepest price correction in 50 years • Brampton: down 37.4% from the 2022 peak • What a market bottom looks like, using Ontario's 1989 to 1997 cycle • Why builders are betting on rentals, and what it means for condo prices in 4 years • Vancouver's record 4,600 unsold condos • 3 dates to watch: Bank of Canada, the foreign buyer ban, Ontario HST relief • What buyers and sellers should do right now Chapters: 00:00 Has Canada's housing market hit bottom? 01:10 Consumer confidence at near record lows 02:06 September sales: buyers stepped back 02:56 Listings vs sales: Quebec's buyer's market 03:55 The steepest price correction in 50 years 04:40 Brampton prices down 37% from peak 05:42 What a housing market bottom looks like 07:12 The sideways grind: where prices go next 08:16 Immigration and future buyer demand 08:58 Builders are betting on rentals 10:53 Vancouver's record unsold condos 11:32 3 dates to watch this winter 12:37 What this means for buyers 13:25 What this means for sellers

Urbanation says investors bought about 45% of new GTA condos last quarter in bulk, at an average 40% discount, and are turning them into rentals. Sales are 78% below normal, and they're the only ones buying. Villain, or the only one willing to buy? Sources: Urbanation via Financial Post, Toronto Star Gary A. McGowan | Keller Williams Realty Centres, Brokerage #TorontoCondos #TorontoRealEstate #CondoMarket

CREA cut its sales forecast again as September home sales fell 2.3%, but the industry is still pitching pent-up demand. It's real. It just doesn't have a mortgage. Pent-up demand: real, or Realtor spin? Sources: CREA, STOREYS Gary A. McGowan | Keller Williams Realty Centres, Brokerage #CanadianRealEstate #HousingMarket #RealEstateTruth