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Looking Back For Context, Moving Forward With Solutions

Angelo Corriero

Real Estate Broker

发布日期: 2025年1月28日

Over the course of 2024, I saw a significant change in trading activity. More listings, fewer sales, increased competition and consumer confidence dwindling.

Ambitious listing presentations, with value adds and clauses that included painting, staging and grassroots marketing within the local community just wasn’t enough. In terms of the rental market, numerous properties shown and applied for with legitimate documentation resulted in refusals. Several of those properties remaining empty to this day.

For some sellers, the anxiety for what was to come motivated them to sell to free up amortized assets in favour of paying off debt. Others, with family inheritances were becoming unsustainable to hold onto, or simply downsized and moving further away from the sprawl, remaining close enough to access needed infrastructure and amenities adjacent to their adult children. ?

Those most heavily impacted include single older adults over the age of 65, individuals currently living in the city of Toronto comprised of the Generation X demographic and women in the lower income care giver roles actively participating in unpaid, undervalued labour. Citizenship notwithstanding. Precarious employment also a contributing factor.

When home ownership cannot be achieved alone, including trusted family or friends on title may be possible for you. Always seek legal counsel and guidance. Risk is always baked into the recipe. The collateral damage of misaligned agendas or a change in capacity, financial status can prove disastrous. The bank of mom and dad may simply not be an option.

This brings me to the idea of exploring ownership alternatives. I am a fan of modular, container homes, laneway houses and moving toward with retrofitting or renovating existing spaces to become more energy efficient and habitable.

I applaud and encourage ethical ways of building better homes within the existing geography and inventory. We need to utilize, repurpose and move with the rapid changes we have experienced with all our senses to really appreciate the gravity of what we are working with and need to do.

Real estate has always been a long term pursuit. Collectively, I am forever hopeful we can animate the solutions on the ground for the years to follow.