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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com

25 September 2018

Homeowners' data found leaked, TREB CEO says

The Toronto Real Estate Board is implementing the online access to home sales data, following the Competition Bureau's demand to provide it on realtors' password-protected websites. However, there are still certain concerns over the privacy issue.

After the Supreme Court of Canada refused to hear an appeal from TREB willing to continue the seven-year fight to keep the data closed, the board's chief executive officer John DiMichele said the issue of privacy hasn't been settled completely.

DiMichele focuses on evidence of brokers' remarks about homeowners’ data being posted online, while this kind of information is not in the list of home sales data TREB had to make available for realtors. He didn’t specify how the violations were found, noting only the cases were reported recently.

In addition to it, he didn’t say what kind of measures will be taken against those who post unauthorized information or home sales data without password protections.

24 September 2018

Conference Board doesn’t expect a sharp market correction

Canada’s economy is expected to outpace the earlier outlook by the Conference Board of Canada, as it predicts now a 2% growth this year, which is by 0.2% higher than in its previous forecast.

At the same time, the possibility of NAFTA talks failing, or higher tariffs may reduce the growth by 0.5%-1.3% during the next two years.

“The national economy showed great results in the second quarter of 2018: Canadian consumers raised the pace of spending, businesses increased investment in the capital stock, and exports reported a double digit gain,” - noted Matthew Stewart, Director, National Forecast. “Nevertheless, there are still significant difficulties, which may slow the growth for the rest of the year and into 2019”.

21 September 2018

OECD says a housing correction may be possible

In case NAFTA negotiations fail or inflation in Canada exceeds the necessary level, it could affect the real estate market negatively and cause a potential correction, says OECD in its updated outlook.

The report now predicts a 3.7% global economic growth for this year, which is 0.1% lower than in May outlook. When it comes to Canada, the OECD expects a 2.1% growth in 2018 (no changes) and a 2% increase next year (0.2% lower).

Although the general forecast for Canada is quite strong, supported by exports and a rebound in the auto and energy sectors, there are still certain difficulties, including high housing prices and debt levels.

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