• Search for home in Ontario real estate market ‘humbling’ for first-time buyers
    Real Estate

    Search for home in Ontario real estate market ‘humbling’ for first-time buyers

    This article is the second in Global News’ Spring Housing Buzz series, where we will investigate a number of different areas related to the spring real estate market in Ontario. You can read Part 1 here. First-time homebuyers Onairy and Joseph Baiya love their three-bedroom townhouse in Whitby, Ont., since it has what they need at a six-figure price range they could afford. Despite Joseph adding a daily commute to Toronto for work, he got the basement he wanted, while Onairy got the extra space to entertain friends and prepare for a bigger family. The accountant and the office supervisor, who’ve been married three years now, had been renting a…

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  • U.S. will turn into a buyers’ housing marke in 2023, most experts say. Here’s where you’ll see the biggest declines.
    Real Estate

    U.S. will turn into a buyers’ housing marke in 2023, most experts say. Here’s where you’ll see the biggest declines.

    Frustrated by the housing market? Housing experts say they’re expecting the market to tip back into buyers’ court by 2023, according to a new report. Mortgage rates are approaching 7%, but home prices are only slowly coming back down and inventory is still tight compared to pre-pandemic levels. Still, the U.S. housing market will shift in favor of home buyers by the end of 2023, 44% of 107 economists and housing experts polled by real-estate company Zillow for its Home Price Expectations Survey said.  And 12% of these experts believed that shift will happen sooner — that is, this year. Yet roughly 45% of experts surveyed by Zillow say buyers…

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  • Advice from a longtime real-estate agent: ‘Owners are moaners, and buyers are liars’
    Real Estate

    Advice from a longtime real-estate agent: ‘Owners are moaners, and buyers are liars’

    This article is reprinted by permission from The Escape Home, a newsletter for second homeowners and those who want to be. Subscribe here. © 2022. All rights reserved.  The longtime real-estate agent snickered when I asked her to look back on her career and her clients. She said she had learned something that all agents soon come to recognize: “Owners are moaners, and buyers are liars.” Would she be willing to expand on that? Oh, yes, she’ll dish, provided I do not print her name here. She is mostly out of the game — she has announced her retirement several times but keeps getting “just one more last deal” that…

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  • Canceled Contracts Pile Up As Real Estate Buyers, Lenders Reckon With Rising Rates
    Real Estate

    Canceled Contracts Pile Up As Real Estate Buyers, Lenders Reckon With Rising Rates

    Some commercial real estate deals are falling apart across the country as the market reels from the highest interest rate environment in over a decade and clouds of economic uncertainty are gathering. Both construction loans and financing to purchase properties will get more expensive with the Fed’s decision. As borrowing costs rise, the prices for everything from out-of-favor assets like office buildings and retail to warehouses and apartments are declining as buyers get nervous about future values. “No one’s immune,” said Eddie Lorin, an affordable, workforce and mixed-income housing developer who leads California-based Strategic Realty Holdings. “Everybody is getting repriced.” The Federal Reserve Bank officially increased interest rates by three-quarters of a…

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