Canadian Real Estate News Headlines (May 28th 2019)

Hello everyone. How are you?

I provide you with Canada’s news headlines for real estate news for today.

New real estate rules good news for home buyers and sellers

Because buying a home is one of the biggest events of our lives, how we buy a home matters a lot. So, when the government is updating the laws for how we buy and sell homes, we should all pay attention.

This update is long overdue. The Ontario Real Estate Association (OREA), where I serve as CEO, has been asking for it for years, because the rules haven’t been refreshed since 2002, when internet listings were a new development, and paperwork was sent via fax machines.

Ontario realtors put their own ideas on the table and if implemented, the province stands to become a leader in North America when it comes to professional standards, consumer protection and fair practices for a modern real estate market.

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Canadian Housing Is The Least Affordable In The World… For Local Incomes

Canadian home prices have been growing at a breakneck speed, and incomes aren’t even close to keeping up. Organisation for Economic Co-operation and Development (OECD) numbers show Canada topped the house price to income index. Canada’s gap between house price and income growth grew so fast, it tops the list of high-income, advanced economies.

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