Carol SL Mark’s Blog

Community organizations are advocating for a gentrification tax to prevent wealth extraction from communities and support low-income residents. The proposed tax would decrease as the duration of local residency increases, with rates ranging from 7% to 23%.

Toronto property owners oppose Mayor Olivia Chow's 10% property tax hike, fearing unaffordable housing. They argue it will impact cash flow and profitability. Critics believe the tax increase is necessary to address the city's affordability crisis and question the motives of private investment funds opposing the hike. Continue to full article

Toronto's soaring living costs impact residents, with 55% spending over half their income on housing, and 60% worrying about essentials. Canada Housing Statistics Program reports 56.7% of condos built since 2016 are investor-owned. Many experts link investor-owned properties to reduced tenant protections and escalating rent prices in Toronto. Financial challenges force some, including young adults,…

In some families, it’s a day to spend time playing in the snow, building snowmen, or having snowball fights. Some families take advantage of the long weekend to have a "staycation" and enjoy the activities in their own city or town. Take advantage of this wonderful time of year to reinforce your family bonds. Wishing…

$471M Funding: The Government of Canada allocates $471M to Toronto for 11,780 new homes. Housing Accelerator Fund (HAF): The funding is part of HAF, aiming for 100K new homes nationwide. City's Initiatives: Eight initiatives include streamlining processes, protecting rental homes, and developing City-owned land.

Valentine’s Day occurs every February 14 around the world, and candy, flowers and gifts are exchanged between loved ones, all in the name of St. Valentine Valentine greetings were popular as far back as the Middle Ages, though written Valentine’s didn’t begin to appear until after 1400. By the middle of the 18th, it was…

Prices: – Slightly ↓ 3% predicted for GTA. Sales: – ↑ >10% expected in GTA, following 2023 dip.

Toronto city council is considering a new tax on foreign buyers of residential properties. The proposed Municipal Non-Resident Speculation Tax (MNRST) would add 10% to the purchase price starting in January 2025. The tax aims to discourage real estate speculation and generate revenue for the city. Exemptions will be considered for certain individuals, and the…

Downtown Toronto condos drop to $997/ sq ft, down from record $1,203 in February last year. Prices peaked at $1,127 in May this year, marking a steady decline since. Lower prices hint at affordability, but borrowing costs offset benefits.

恭喜發財. Wishing you prosperity. Lunar New Year, is the most important celebration observed in China, with cultural and historic significance.The New Year celebration is centered around removing the bad and the old, and welcoming the new and the good. Traditional activities include reunion dinner, cleaning houses, visiting family members, setting off firecrackers and fireworks, and…