There are troubling headwinds for Toronto’s pre-construction real estate market as buyers are increasingly worried they’re unable to close their purchase agreements due to significantly higher interest rates.
Some realtors have noticed a rise in inquiries for what are known as assignment sales — a legal transaction in which the original pre-construction condo buyer transfers the rights and obligations of the purchase agreement to another buyer.
Calls from concerned buyers have doubled in the last few months for Simeon Papailias, managing partner of Royal LePage’s REC Canada, as many are wondering if they can get out of a purchase agreement with the developer.
The Home Vacancy Tax kicks in with a February deadline to register your residence’s status.
And of course Jello Tory has announced a BIG TAX increase to cover his spendthrift ways…
Tory calls for big tax hike as spending continues to climb
Since John Tory’s first budget proposal was presented to council, the cost of running Toronto has gone up by 40%. It’s not clear what all that new spending is buying given the state of the city, but those are the cold hard facts when examining the two budget proposals.
Has anyone else noted the Scarborough Health Networks fundraising shakedown commercial?
You’re a racist if you donate your money to anyone else but the SHN.
Welcome to Toronto a Democrat run city in Canada!
