CREA predicts a $1Bil hit to the economy next year as home sales are expected to fall in 2018

Canadian Real Estate Association (CREA) released new numbers this Thursday indicating that home sales will drop by 27,000 units or 5.3% in 2018. Although ~5% may not seem like a lot, it will be compounded on top of the expected 4% sales drop in 2017, which adds up to a mighty 10% drop in sales between 2017 and 2018. In contrast to the optimistic reports by Royal Lepage and RE/MAX, which each predicted a 4.9% and 2.5% surge in prices in

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If non-resident ownership is 4.8% in The City of Toronto, whats the big deal?

If non-resident ownership is 4.8% in The City of Toronto, whats the big deal? During the summer of 2016, there were many estimates that foreign ownership is less than 5% (CBC.ca). Statistics Canada has recently confirmed these initial estimates (Statscan.gc.gov). At face value, this seems to be good news, but in reality, we need to look at the distribution along the price spectrum to make a decision. Better Dwellings has (betterdwelling.com) has cleverly pointed out that the foreign buyers tend to

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Book Summary: The Master Algorithm

This week, I will present a summary of the first bit of The Master Algorithm: How the Quest for the Ultimate Learning Machine Will Remake Our World by Pedro Domingos. Here are my key takeaways from the prologue: Civilization advances by extending the number of important operations we can perform without thinking about them. —Alfred North Whitehead Never has man had the remarkable tool, that can turn raw products into a useful product that is as useful as machine learning, which turns

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