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As we look ahead to the evolving landscape of the Canadian economy, a recent forecast from TD brings a potential shift that could significantly impact the real estate market. According to this forecast, the Bank of Canada (BoC) is expected to reduce its policy interest rate to 2.25% by 2025, a substantial decrease from the current rate of 5%. This change, driven by easing inflationary pressures, could usher in a new era for borrowers and the real estate sector at large.

In recent times, the real estate market has faced headwinds, with home sales declining across major Canadian markets. This trend is partly attributed to the high mortgage rates, which have deterred many potential homebuyers, either due to qualification challenges or strategic…

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From Beyond, A Heaps Estrin Publication
Page 37
Heaps Estrin Real Estate Agent and Architectural Historian


Toronto’s Wealth Surge: A New Era of Affluence

As Toronto’s real estate market sees most houses starting around the $1 million mark, the increase in the city’s affluent population is unmistakable. A recent study by Henley & Partners and New World Wealth sheds light on this phenomenon, revealing that the number of high-net-worth individuals in Toronto has surged by 29% over the last decade.

A Significant Leap in Global Wealth Rankings
This growth has not only been significant but also rapid. Toronto now stands as the 12th wealthiest city globally, marking a notable rise of two spots since 2022. The city’s wealth profile is impressive,…

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