As the global economy tries to recover from the pandemic while battling higher inflation and reduced economic growth, the housing market is struggling with the weight of record rent prices and looming mortgage defaults. The economic forecast is grim: tenants have been grappling with higher unemployment rates and financial instability,

Royal York Property Management, an industry leader in property management and tenant placement services, has successfully navigated various housing and economic cycles. Currently, the real estate industry is experiencing significant headwinds, presenting landlords and tenants with a host of challenges. Chief among them are the recent interest rate hikes that

Sentiments have soured significantly across Canada’s housing markets, with sales and prices edging lower as high interest rates keep buyers on the sidelines. But despite the slowdown, economists warn an improvement in affordability is not on the horizon. Home sales have been on the decline since the Bank of Canada

Home sales decline, average selling price remains flat Home sales in the Toronto area declined on a year-over-year basis in August while the average selling price remained flat, as rising borrowing costs continued to weigh on the region’s real estate market. Though the MLS Home Price Index and average prices inched up 2.5 per

Toronto rent prices continued their months-long climb in July, now sitting $525 above where they were at the same time last year. A new report from TorontoRentals.com and Bullpen Research & Consulting found that Toronto’s average rent price jumped a whopping 6.2% from June to July, to its new average of $2,667