Although the uber-luxe homes highlighted in the Re/Max report are a small fraction of the overall home sales market, Re/Max’s Christopher Alexander said the luxury home market reflects broader trends emerging from the pandemic. Toronto average home prices hit a new high of $929,699 in 2020, the Toronto Real Estate Board said on Wednesday, as the number of homes sold rose to 95,151, up from 87,751 in 2019. (Pre-pandemic), you didn t really notice the shortcomings of your existing living arrangements because you were out of the home so much, said Alexander, the chief strategy officer for Re/Max Ontario-Atlantic Canada. Wealthier homebuyers tracked by Re/Max fell in line with another trend that was apparent in the overall home buying market: buying in the suburbs. The Toronto Regional Real Estate Board said on Wednesday that South Simcoe County homes saw the biggest price growth in December, while homes within Toronto city limits saw the least appreciation. Homes over $3 mill
Winnipeg Free Press By: Tara Deschamps, The Canadian Press Posted:
Last Modified: 10:43 AM CST Thursday, Jan. 7, 2021
TORONTO - Chief economists from Canada s big banks expect the economy to rebound this year, but say failing to control COVID-19 or get vaccines into arms could upend that recovery.Speaking at an annual breakfast hosted virtually by the Economic Club of Canada on Thursday, economists expressed cautious optimism about the months ahead. We believe that virtually every economy will see a substantial improvement over the next year, said Doug Porter, chief economist at BMO Financial Group.His bank is expecting the global economy to post a 5.5 per cent rebound this year, followed by a four per cent growth rate next year.But letting COVID-19 remain unruly can threaten all that, he said.If the virus continues to accelerate, restrictions, including Quebec s new ov