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TORONTO — The Ontario government is giving property sellers the option of disclosing the details of competing offers, but not going as far as to ban blind bidding.
Minister of government and consumer services Ross Romano said in a statement that sellers will get to choose if they want to “opt for an open offer process” and share bids.
“Sellers will no longer be limited to selling their property through a closed or traditional offer system,” he said.
Blind bidding, a practice where buyers bid for a home without knowing the size of competing offers, is pointed to by some as one of the drivers behind inflated home price gains. READ MORE >>
By Amanda Stephenson
The Canadian Press, April 20, 2022
CALGARY — As Ontario’s sizzling real estate market puts home ownership out of reach for many Canadians, a growing number of prospective buyers are looking west in hopes of achieving their white-picket-fence dreams.
Like newlyweds Vineet Mrug and Kushbu Mistry, who relocated to Calgary from their hometown of Toronto last year, some residents of the GTA and other hot Ontario markets are moving to Alberta for what they believe is their last opportunity to own an affordable piece of real estate in a large Canadian city. READ MORE >>
Here is everything you always wanted to know about NFTs but were afraid to ask. We’re breaking it all down into small chunks with clear examples and explanations in plain language.
By JC Villamere
WHAT IS OPENSEA?
OpenSea is an online store that sells NFTs. It bills itself as the world’s largest NFT marketplace.
WHAT ARE NFTS?
NFT stands for Non-Fungible Tokens. They are a type of interchangeable commodity. NFTs can represent any object, such as art, music, trading cards, collectibles, digital content, etc.
Whether you’re trading, owning, researching, or collecting, trading cards can be a lot of fun — and a good investment!
WHAT IS A COMMODITY?
A commodity is any product that can be bought and sold.
WHAT IS FUNGIBLE?
A loonie is an example of a fungible good. Each loonie has the same value as any other loonie.
A cob of corn is another example of a fungible good. When you buy a cob of corn, you are buying any cob of corn. Each cob has the same value.
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Forge & Foster is excited to announce its first NFT collection On March 30, on OpenSea, we unveiled a rare offering of NFTs based on “Mostly Arrows”, an excellent example of fine art by Lester Coloma, a gifted, established contemporary artist. The Forge & Foster X Lester Coloma NFT Collection is not our first collaboration with Coloma: He has graced several of our projects with his murals.
At 1 West Ave. in Hamilton, you can view his stunning mural, “Rise”. At 400 Wellington St. N., you’ll see “The Electric City”. Coloma’s mural at 150 Chatham St. pays homage to local innovation and discovery. Born and raised in the Hammer, Coloma is a graduate of the Ontario College of Art & Design. Look for his work at the upcoming sale at the Art Gallery of Hamilton, April 28—May 1.
Some NFTs include prints of Coloma’s work. Some NFTs include other incredible bonuses. We can’t wait to reveal them to you! Buy now >>
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WHAT IS AN EXAMPLE OF A NON-FUNGIBLE COMMODITY?
Art is a non-fungible good. Each work of art does not have the same value. When you buy a work of art, you are buying one particular work of art. Each piece of art has a different value.
A house is non-fungible. Not all houses have the same value. When you buy a house, you are buying one specific house.
NFTs are non-fungible. When you buy an NFT, you are buying one particular NFT. Not all NFTs have the same value.
Lawren Harris’ work of art, “Mountain Forms”, sold for $11.21 million in 2016. Unfortunately, the works of art on my fridge are worth less money.
WHAT’S A TOKEN?
A token is a thing that represents value. Vouchers and gift cards are examples of tokens.
Imagine you receive a voucher for a free ice cream cone. The voucher represents the value of an ice cream cone.
When you buy a token for the subway, the token represents the value of a subway fare.
An NFT is a token that represents a value. Each NFT has a different value.
Before they were phased out in 2019, tokens like these represented the fare of a trip on the TTC.
WHAT IS ETHEREUM?
Ethereum is a type of blockchain.
WHAT’S A BLOCKCHAIN?
A blockchain is a digital ledger that everyone has access to.
WHAT’S A LEDGER?
A ledger is a record-keeping system for financial accounts. Most ledgers are kept electronically now using tools such as MS Excel and Google Sheets.
Here, Scrooge McDuck leans on his old-fashioned, paper-based ledger.
OTTAWA – The Canadian Real Estate Association says home sales in Canada fell in March, while prices were up 11.2 per cent compared with a year earlier.
The association says home sales in March were down 16.3 per cent compared with the same month last year when they hit an all-time record. READ MORE >>
Budget measures will stoke demand and push soaring prices even higher, professor warns
Lisa Xing, CBC News,
The federal government’s latest budget designed to tackle the soaring cost of housing does little for those who need the most help, according to several experts.
“There’s a lot of smoke and mirrors here,” said David Hulchanski, a housing and community development professor at the University of Toronto.
Federal Finance Minister Chrystia Freeland said in the House of Commons Thursday housing is the “most pressing economic and social issue in Canada today,” and thus, the centrepiece in the Liberals’ budget. The numbers underscore the urgency of the problem. Prices are so high in most markets across the country that nine out of 10 aspiring home buyers surveyed in a recent poll said they’ve all but given up on their dreams of owning a home. READ MORE > >
Crown Realty Partners has completed the largest acquisition in the firm’s 20-year history with an office community in the Heartland Business Community of Mississauga. It measures 1.2 million square feet.
The investment is being made on behalf of two of Crown’s value-add funds, Crown Realty IV and Crown Realty V Limited Partnership. READ MORE > >
Bluebird Self Storage is capitalizing on the growing consumer demand for storage space as it continues building and buying assets to expand its portfolio across Canada.
Reade De Curtins, principal of the Toronto-headquartered company, said Bluebird currently has 28 locations. It plans to grow to 50 locations within 18 to 24 months as the firm builds what he considers Canada’s first nationwide “premium” self-storage concept.
“Within the last year we’ve gone coast-to-coast with locations now in New Brunswick and Nova Scotia,” De Curtins told RENX. “Then, we’ve got a location that’s opening in probably 45 to 60 days in Vancouver.” READ MORE >>
Wards on Hamilton outskirts and downtown experience double-digit growth, according to latest census data.
By Ritika Dubey The Hamilton Spectator
Sat., April 9, 2022
Hamilton’s population grew six per cent between 2016 and 2021, according to federal census data — slightly outpacing the provincial average of 5.8 per cent.
According to the data, which appeared in a recent report by the city’s planning and economic development department, 584,755 individuals were living in the city as of last year — 1,755 more than were forecast.
The areas with the highest population growth included downtown (Ward 2), (Ward 9), Glanbrook (Ward 11) and Flamborough East (Ward 15). READ MORE >>
This video explores how DeFi is revolutionizing real estate. You’ll learn:
How DeFi is shaping real estate investing
How DeFi is turning mortgages and lending head over heels
How real assets can now exchange hands via digitized tokens even NFTs
It’s hosted by BuyProperly CEO Khushboo Jha and her guest is Ben Ames, who’s a partner at Forge & Foster, and the founder and CEO at REIF Financial Investments.
And so a few years ago, when Grace Lutheran decided to pull up stakes, the synagogue to its south made a move, says Harvey Katz, an Adas board member. READ MORE >>
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