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The Real Estate Council of Ontario asking both homebuyers and investors to do their homework before leaping into a rent-to-own deal

“If a deal seems too good to be true, it probably is,” says the regulator’s registrar Joseph Richer. “As with any real estate transaction, it’s crucial for consumers to do their research before entering into a contract.” The warning comes on the heels of media reports this summer that homebuyers have lost money and even […]

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Federal Governament Cuts 19,200 Jobs

19,200 federal government jobs are being eliminated with most of the cuts being felt around Ottawa. Many pink slips have already been handed out at several departments including National Defence, the Public Service Commission and the Federal Economic Development Agency for Southern Ontario.

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Home prices could soon be “topping out”!

National home prices continued to rise in February, but the Canadian Real Estate Association (CREA) said Friday that evidence pointed to a market that was “topping out.” That wording differs from a Re/Max report also this week that predicted a “heated” spring market nationally, with demand continuing to push sales and prices upwards, as bidding […]

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Government in no rush to tighten mortgage rules

The government seems prepared to sit pat with the current set of mortgage rules — the Finance minister viewing, with some irony, banker calls for tighter ones. “I find it a bit off that some of the bank executives are taking the position that the Minister of Finance or the government somehow should tell them […]

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Borrowers falling deeper in debt

Those Canadians who have borrowed the most are falling deeper into the hole, according to new research out this week by CIBC World Markets Inc. The report noted that those with a greater than 1.6 debt-to-gross income ratio represented 73% of all household debt in Canada. That debt comes from 34% of all Canadian households, […]

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