Mindblown: a blog about philosophy.

Nearly 80% of homes in the Greater Toronto Area sold below asking price last month, with 97% of neighborhoods experiencing underbidding. Only 3% saw overbidding, mostly in more affordable areas with median prices under $1 million. The average home price dropped 6.4% to about $1.04 million. High-priced neighborhoods like Oakville and King saw the most…

Housing starts in the Greater Toronto Area and Greater Golden Horseshoe dropped 34% in early 2025, with condo starts plunging 51%, while purpose-built rental starts rose 42%. Residential construction job losses are mounting, with 35,377 fewer person-years of employment. High taxes, making up 36% of new home costs, are a major factor. The struggling market…

The average rent for two-bedroom apartments in Toronto dropped 3.9% to $2,720 in Q3 2025, continuing a downward trend since peaking at $2,920 in late 2023. This decline may be due to more rental units available, a weak home resale market, and fewer non-permanent residents. Similar rent decreases occurred in Vancouver and Montreal, with tenants…

A survey reveals 62% of Canadian renters spend over 30% of their income on rent, rising to 70% in Toronto. Rent increases affect 63% of respondents, intensifying financial strain. High rent prices are the top challenge for 69%, surpassing concerns about supply or scams. Renters aged 25-34 and 35-54 face significant affordability pressures, with many…

Toronto experienced the largest home price decline among major Canadian cities in 2025, with a 5% drop year-over-year. Nationally, the housing market saw its first annual price decline since mid-2023, falling 1%, with condos dropping 6%. Detached homes remained stable, while row, townhouses, and semi-detached homes declined by 1% and 2%, respectively. Some cities, like…

Toronto's housing market remains weak with November home sales down 15.8% year-over-year and average prices falling 6.4% to just above $1 million. New listings dropped 4%, but active inventory rose 16.8%. Sales declined across all property types, notably condos, which fell 21.7%. Despite interest rate cuts, economic concerns and trade uncertainties continue to dampen buyer…

First-time homebuyers can improve mortgage approval chances by focusing on four key areas: enhancing credit scores by correcting errors and reducing debt; managing debt-to-income ratio and building savings; obtaining mortgage pre-approval with verified financial documents; and exploring suitable loan programs like FHA, VA, or USDA loans. Shopping around and considering assistance programs can also make…

Paying off a mortgage early reduces interest costs and loan term. Key strategies include securing a low rate, making extra payments, understanding prepayment limits, prioritizing emergency savings and high-interest debt, and considering refinancing or recasting. Automating payments aids consistency. Continue to full article