Message from Elena

Dear friends and clients,

I hope this message finds you well. I wanted to share with you the amazing long weekend I had filled with exciting activities and fireworks. One highlight was attending the fantastic concert with live music and fireworks organized by Tim Hortons at Newmarket George Richardson Park. It was a really memorable experience with family, friends and community.

Additionally, I had a day off and took an amazing road trip to Elora Gorge with my daughters. We enjoyed a lovely lunch and strolled along the charming streets of the old city. It was a perfect opportunity to relax and create special memories with my family.

In the real estate business, despite the long weekend, we had a successful open house at one of our listings with a great turnout of visitors. We also had two closings this week, which is always an exciting milestone. Last week was a bit quieter due to the holiday festivities, but we anticipate more activity picking up soon.

In terms of real estate and mortgage news, we are eagerly awaiting the stats from the Toronto Real Estate Board. There are ongoing debates regarding the possibility of another hike on July 12, 2023, but personally, I believe it is unlikely. Rest assured, I will keep you updated as soon as we receive concrete information.

If you have any questions or need assistance, please don't hesitate to reach out. I'm just a phone call away and always here to help. Thank you for your continued support, and I wish you a wonderful week ahead!

Warm regards,

Elena

Real Estate News

Will there be a recession in Canada? What the latest data tells us

Canada’s economy is showing signs of underlying strength as some consumers and businesses brush off recession fears, a flurry of data releases on Friday suggest.

Homebuilding costs in Canada soar 51% as population surges

Surging construction costs in Canada are putting new pressure on home prices, worsening a severe affordability crunch, according to the nation’s largest lender.

A gauge of residential construction prices has risen 51 per cent since the first quarter of 2020, outpacing the 13 per cent gain for the consumer price index, Royal Bank of Canada economists said in a report published Wednesday.

Lawn Alternatives for When Grass Won’t Cut It

When you envision the ideal front lawn, do you see the white picket fence surrounding lush, clean-cut grass? That look takes a lot of work to both establish and maintain, so plenty of Canadians are choosing different options for their green spaces.

Even those who enjoy a well-kept lawn may find not every corner of their yard supports bluegrass or fescue. While it’s usually easy to find garden plants to fill virtually any condition, sometimes the desire is for healthy ground cover. Today, we’ll look at alternatives to grass that may work for you.

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Business of the Month

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