Three Real Estate Stories in the News for Saturday, May 12th, 2018

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Luxury Property Prices Remain Strong in Canada’s Biggest Cities

Luxury real estate prices in Canada have remained resilient so far this year, despite dropping sales volume as sellers and buyers adjust to new housing market measures, according to a report Thursday from brokerage Royal LePage.

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Vancouver real estate: Why multi-million dollar home owners are crying poor

Owners of multi-million dollar homes are probably not going to endear themselves to the public by pleading financial hardship. Nevertheless, more than 100 Vancouver residents gathered in a park last week to protest a surtax introduced by the provincial NDP government on homes worth more than $3 million. They wielded signs claiming the government “wants to confiscate your hard-earned home savings!” The tax, they said, is “unfair,” “exorbitant” and “predatory.”

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Here are provinces, cities in Canada with the highest and lowest rent

Some 4.4-million adults and families in Canada live in rental housing, making up just under a third of total households. But being a renter in many areas of the country isn’t easy, data from a new national rental database show.

Four in 10 renter households spend more than 30 per cent of their pre-tax income on rent, beyond the commonly accepted affordability threshold. And for nearly two in 10 of these households, rent takes up over half of pre-tax income, a level of spending at which people are considered to be at high risk of becoming homeless.

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Jethro Seymour, one of the Top Midtown Toronto Real Estate Brokers, provides you with Canadian real estate news headlines ( May 12th 2018)