Impossible as it seems, somehow September is upon us already! At least it still FEELS like summer out there! As we transition into the Fall months, we’ll be monitoring and reporting on everything related to Toronto Real Estate, particularly how interest rate hikes, supply/demand disparity, and inflation are all affecting the buying and selling of homes in the City.
And of course, we’ll continue to discuss and debate the many facets of house & home! Bookmark the Urbaneer Blog!
*Did you know we publish a monthly newsletter that you can subscribe to for FREE? Just click the link at the bottom of this post!*
Here is what you’ll find inside our August 2022 E-Newsletter:
Let’s start with August’s instalment of Dear Urbaneer, entitled, ‘Dear Urbaneer: Does It Make Sense To Buy A Home In A Declining Market?‘ In it, Steve is offering guidance to a reader with a young family who will soon be relocating to Toronto. Given the current concerning economic strains and stressors – and a bleak forecast to boot – they want to pick his brain regarding prudent purchasing strategy and how the timing of their imminent move might inform their decision to purchase a property or rent instead: “I have recently accepted a job in Toronto and will be moving my family – including two young children – to the city to start the next chapter of our lives. Given the current dynamics of the market with interest rates rising and prices dropping, we are wondering if we are better off seeking a rental in an area that would have us in a reputable public school catchment, or if we should take the plunge and buy a home. We hear rentals are expensive and sometimes rare in established neighbourhoods which could present some challenges, but what if I buy a home now and it slides in value? There is a lot of talk about an imminent recession. When is the right time to buy?“. Read on for Steve’s answer!
Steve and the Urbaneer Team post weekly blogs that share our love of all things real estate and that celebrate Toronto! Below are three of our most well-read posts this past month:
The most read post for August was ‘Design Innovations For A More Affordable Canadian Housing Future’ The challenges of affordability in housing are not new to our generation. And commonly, society has turned to policymakers to assist in creating access to housing. Toronto is beginning to take steps toward trying to alleviate the supply crunch with inclusionary zoning, but as with all public policy – there are pros and cons- depending on who you ask. Much of the housing affordability problem is caused by a lack of space and ovewhelming demand – true. But it’s also compounded by the current cost of materials and of lack of skilled trades to get the work done, which means that home buyers will ultimately have to pay premiums. In a bid to find more options and alternatives that are within budget (some of which could ease some strain on the market), more and more consumers are investigating home designs and materials that they hadn’t considered before!
Another popular piece was ‘Rising Interest Rates And The Toronto Real Estate Market‘, in which we discuss there current state of the market – and where it seems to be headed. Hasn’t 2022 been quite the year for real estate, thus far? If you’re on the sidelines, you likely know that the year began with a bang, with real estate prices still riding the pandemic-fuelled highs. Meanwhile, inflation crept in, in part due to escalating housing and fuel prices, and compounded by The Bank of Canada’s substantial interest rate increases. Very quickly the real estate market turned, shifting downward. It’s stopped real estate speculators dead in their tracks effectively killing the bubble (which is a good thing, ultimately), and leaving people who want to buy shelter to sort out how much they can really afford now that rising interest costs are reducing their buying power. It sucks for dwell hunters, true, but it’s a horrific calamity for those who need to sell. Read on!
Thirdly, we had a great response to our blog ‘How Urbaneer’s Toronto Real Estate Marketing Program Sold This Sun-Kissed Contemporary Loft In Riverdale’s Printers Row‘. With 30 years of experience years as a Top Producing Toronto realtor – and having executed hundreds of transactions representing both Buyers and Sellers of freehold and condominium housing across the original City of Toronto – Steve and the Urbaneer Team are committed to serving you to the best of our ability. When you enlist Urbaneer, your property is featured for sale on multiple platforms with multi-faceted promotions. And best of all – it’s custom-created by us to attract qualified buyers interested specifically in your neighbourhood, your dwelling type, and the architectural and design features unique to your property. This blog describes how we did it with the listing and sale of this vintage 1bed+den 2level loft in Printers Row in Riverdale!
And – for lovers of unique urban spaces – don’t miss our sensational Toronto real estate listed for sale or lease on our site for your consideration!
Browse the August 2022 E-Newsletter!
We LOVE Toronto real estate!
Steven & The Urbaneer Team
Bosley Real Estate Ltd., Brokerage • (416) 322-8000
http://www.urbaneer.com • info@urbaneer.com
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*Love Canadian Housing? Check out Steve’s Student Mentorship site called Houseporn.ca which focuses on architecture, landscape, design, product and real estate in Canada!