Details
- 1 Bedroom
- 1 Bathroom
- Street permit parking only through City of Toronto
Rental: Renovated 1-Bedroom Basement Apartment (298 Rhodes Ave)
Details
- 1 Bedroom
- 1 Bathroom
- Street permit parking only through City of Toronto ($52.21+HST)
- Utilities extra
Rental: Spacious 1-Bedroom Condo In Downtown (12 Yonge St #911)
Details
- 1 Bedroom
- 1 Bathroom
- 1 Parking Spot Included
- Utilities included
- Small pets allowed
Luxury Penthouse 2-Bedroom Condo At The Waterfront (10 Queens Quay W #2701)
Details
- Master Retreat: 1
- Guest Bedroom: 1
- Enclosed Office Space: 1
- Family Room: 1
- Bathrooms: 3
- Parking: 2 beside each other
- Ensuite Storage Room: 1
- Locker: 1
Rental: Bright, 2-Storey 2-Bedroom Condo At Yonge/Eglinton (106 Redpath Avenue #1)
Delinquencies & Deferrals
I’ve heard a lot of people comment that when those mortgage deferrals end, the housing market will be in trouble. Well it’s the end of October now and the market hasn’t collapsed.
The mortgage delinquency rate across Canada pre-covid was 0.29% and in Toronto where real estate is the most expensive, the rate was 0.11%, which is incredibly low.
I recently attended a presentation where Shaun Hildebrand from Urbanation highlighted some interesting statistics.
At the end of June 2020, 760,000 Canadians (roughly 16% of mortgage holders) had taken advantage of the mortgage deferral programs.
This Is Going To Make You Throw Up A Bit
One of the challenges for first-time buyers is the longer they wait, the harder it is to get in the market, as the housing market seems to increase faster than most people can save. And, as interest rates rise, mortgage payments will rise with them, making owning that much more expensive.
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