September 1 2017
Kitchener Waterloo Real Estate News Update
Today is September 1 2017. In Today’s news: real estate bottoms out, balances out, bubble evaporates, bike lanes and hiking trails, blockchain for enterprise
Real estate might have bottomed out in July
July marked the smallest monthly decline in Greater Golden Horseshoe home sales since Ontario’s Fair Housing Plan was announced in April. This suggests sales may be starting to bottom out amid stabilizing housing market sentiment. Time will tell whether that’s indeed the case once the transitory boost by buyers with pre-approved mortgages fades.
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Most real estate markets are now balanced.
The national sales-to-new listings ratio sat at a “well-balanced” 53.5 per cent, in contrast to the high-60-per-cent range in Q1 2017. The ratio in the range of 40%-to-60% is considered consistent with balanced housing market conditions. Above 60% is considered a sellers’ market and below 40%, a buyers’ market. Based on a comparison of the sales-to-new listings ratio with its long-term average, more than 60% of all local markets are now in balanced market territory.
Canada’s housing bubble has vanished without a crash landing
Economists say the Canadian housing bubble — long feared to be vulnerable to a dangerous pop — is now officially dead. Canada’s housing market corrected for a fourth consecutive month in July, led by the cooling in Ontario.
Bike lanes, hiking trails boost new invisible economy
Bike lanes, relatively inexpensive housing, and a short walk from home to brew pubs are among the amenities that make Halifax attractive to the “creative class”. Think young, hip, educated, affluent, and employed in sectors like IT, design and architecture.
Blockchain for the enterprise
Instead of trying to beat Facebook at its own game, Kik moved into cryptocurrency because of its potential to create massive value, some of which Kik will capture. If one country is too harsh on regulations, businesses can easily leave and build cryptocurrencies in other countries – like Switzerland and Singapore – that are “putting their hands up” to be friendly to blockchain innovators.
Toronto condo buyers have no idea what condos are worth
The Toronto condo market is making erratic swings, with some neighbourhoods posting over $30k gains, and others posting over $30k in losses.
Deals are going bad as buyers and lenders take a tougher look at home values
The first sign of a problem often comes when the lender sends out an appraiser, who judges the property is worth less than what the buyer offered a month or two earlier. A lower valuation means a smaller loan from the lender.
Ratehub.ca Receives 2017 Regional Startup Canada Award
Ratehub.ca was recognized last week by Startup Canada as a regional winner of the Startup Canada High-Growth Entrepreneurship Award, Ontario Region. Ratehub.ca accepted the award at a red carpet ceremony in Ottawa, Ont. attended by leading Canadian investors, innovators and anchor company executives.
The impact of hurricanes on health is not captured in the mortality and morbidity numbers in the days after the rain. This is typified by the inglorious problem of mold.
Student move-ins delayed again, this time for TheHub in Waterloo
Three towers of TheHub on 130 Columbia St. will not be ready for another two weeks, says Accommod8u