Two Real Estate Stories in the News for Tuesday, May 8th, 2018

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Whistler tops Vancouver as Canada’s craziest real estate market

Benchmark property prices in Whistler, the ski town two hours north, have now surpassed those in the Pacific Coast city. Businesses are buying million-dollar properties to house employees as living costs drive out workers. The cost of visiting has also spiralled, with overnight rates during the winter peak topping anywhere else in the nation.

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Millennials are the Engine of the Real Estate Market

According to a national study commissioned by Genworth Canada, six in ten (59 per cent) millennials have already achieved their homeownership dreams. Among those who own their homes, three in ten (30 per cent) millennials bought their first home or a home that was not their first in the past two years, compared to just 9 percent of older Canadians. And over the next two years, among non-owners another 30 per cent of millennials plan on making their first home purchase, making them the engine of the real estate market. The annual poll, completed in conjunction with the Canadian Association of Credit Counselling Services (CACCS) from February 8 – March 27, 2018, asked 2,000 Canadians questions about their financial well-being, homeownership intentions and preparedness for the future.

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Jethro Seymour, one of the Top Midtown Toronto Real Estate Brokers, provides you with Canadian real estate news headlines ( May 8th 2018)