Bogdan  Poprawski

Bogdan Poprawski

Broker of Record

Spencer Group Inc., Realty Brokerage

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905-206-1011
Office:
905-206-1010
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Bogdan Poprawski's blog

Crystal ball?

Changes, changes, changes .... in all aspects of real estate.
Ontario’s housing market has been red hot for years now, but that could soon change, and some areas will be hit harder than others.

https://www.cp24.com/news/these-are-the-areas-where-ontario-housing-prices-will-take-the-biggest-drop-1.5948453

Canada risks housing-related recession if interest rate hikes get too aggressive

Real estate is the biggest business in Canada.
It is an engine of the entire economy.
Yet ...
In a Tuesday update, senior Canada economist Stephen Brown noted the central bank seemed unfazed by a double-digit drop in home sales in May — the second consecutive such monthly drop — and that it was adopting an increasingly hawkish tone on inflation.

It is not just one way lately ...

The recent GTA market is challenging.
We are witnessing significant changes in prices: from 30 percent drops to 12 percent jumps — why some GTA real estate markets are hot while others are not.

https://www.thestar.com/news/gta/2022/06/07/from-30-per-cent-drops-to-12-per-cent-jumps-why-some-gta-real-estate-markets-are-hot-while-others-not.html

Whi profits the most from unaffordable housing?

Rental and purchase housing unaffordability will be the top-of-mind determining factor in our next provincial and federal elections. The federal political parties are indistinguishable when reviewing their respective solutions. None understand the core fundamental causes of unaffordability, nor do provincial housing ministries and CMHC.

https://www.realestatemagazine.ca/who-profits-most-from-unaffordable-housing/

Some fact and some speculation

The crazy year 2021 is gone and a new year 2022, probably crazier, is upon us.
I have attached the link with tonnes of information
Go through it at your leisure. Lots of interesting stuff ...

https://indd.adobe.com/view/ce62a7f5-525e-4321-a652-c15bb46bc88b

Courts say it’s on the buyers to confirm a home’s size

A decision of Ontario’s Divisional Court serves as a reminder that home buyers cannot rely on a published listing when it comes to the interior size of a home.
Michael Mitchell and Richard Bowring owned a bungalow in Mississauga. In July 2020, they listed it for sale through the Multiple Listing Service (MLS). The listing represented the interior of the house as having “Apx Sqft 2500-3000.”

Unfulfilled promise to transfer family property upheld by appeal court

In a recent decision, the Ontario Court of Appeal addressed the longstanding relationship in estate litigation between the enforceability of promises, unjust enrichment, and the remedy of the constructive trust. Parents who are considering transferring property to their children or other family members should know the possible legal implications of unfulfilled promises as shown in Tomek v. Zabukovec, 2021 ONCA 723.

Will BC’s New ‘Cooling Off Period’ Really Turn Down the Heat in its Housing Market?

In an attempt to cool the province’s relentlessly hot real estate market, British Columbia (BC) just announced the introduction of a cooling-off period come spring 2022 for home purchases in the notoriously pricey province.

https://storeys.com/british-columbia-housing-market-cooling-off-period-work/

October 2021 - GTA Market Update

October 2021 - GTA market update:

GTA statistics:
There were 9,783 sales in October 2021 – down by 6.9 percent compared to October 2020.
The October 2021 average selling price for all homes combined was up by 19.3 percent year-over-year to $1,155,345.
Trend:

Debunking the CBC Marketplace report on agents ‘breaking the law

Asif Khan took a hard look into CBC’s hidden camera investigative report about “law-breaking” Canadian real estate agents. It’s a deep dive into the issues presented on the program and the specific listing that the story was based on. Where are the real estate associations on this? Crickets! It’s time for OREA, CREA, and TRREB to step up and join the conversation.

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