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February 21, 2025Sign up
Hello! Welcome to another edition of the Real Estate newsletter. As always, please get in touch with editor Jacob Dubé with any questions or comments.
Home of the Week, 108 Mason Blvd., Toronto The Print Market

This week, technology woes invade the real estate world, as accusations of misuse of algorithms and crypto schemes resurface. Plus, Doug Ford’s report card on housing, tariff anxieties, and one home worth a look.

Real estate can sometimes feel like one of the the last bastions of an un-digital world. Call me a Luddite, but there’s something reassuring about the buying and selling of something as physical as a future home (or investment opportunity). But this week, the real estate world delved deep into the digital one, as algorithms and cryptocurrency seeped into the market. For starters, as Rachelle Younglai and James Bradshaw write, the federal Competition Bureau is investigating the use of algorithms to set rent prices across Canada, a move that advocates say is leading to higher monthly rents overall. How does it work? The practice allegedly allows landlords to use software to track what their competitors are charging for rent so they can adjust their own prices, instead of competing against each other with lower rental rates. Back in July, Canadian tenants were calling for more scrutiny on rent fixing practices after an American software company fell under investigation for a similar scheme.

And as Shane Dingman writes, a condo corporation in Concord, Ont. is alleging its former property manager got them involved in a scheme to funnel $200,000 of reserve funds towards investing in crypto. It’s the second time property manager Norbert Berger has been accused of using condominium money to invest in alleged cryptocurrency company Pink Piggy Investment Group Inc., where he was a corporate officer and shareholder. Back in 2023, he was accused of funnelling $500,000 from an Etobicoke condo board, and was banned from ever managing a condo again.

65 Glengowan Rd. in Toronto is the type of home being listed for sale right now. The Print Market

As the worry about a trade war between Canada and the U.S. grows, homeowners are mulling their options. Realtors say some business mavens are already taking action to reduce their exposure to real estate — attempting to downsize from their pricey properties while they mull over a move to the U.S. — while many buyers who lack such deep pockets are back on the sidelines. Writer Carolyn Ireland told me she was surprised to hear how quickly showings dropped off and well-heeled homeowners began listing their properties for sale upon U.S. president Donald Trump’s return to the Oval Office. His threats to impose hefty tariffs on imports from Canada have rattled every part of this country’s economy, including the housing market. For now, she said, “uncertainty” is the watchword of the real estate sector.

A row of houses under construction is seen in a housing development in Alliston, Ontario, north of Toronto, January 16, 2025. Cole Burston/Reuters

Back in 2023, Ontario Premier Doug Ford told a crowd that affordable starter homes were coming to the province for $500,000 or less. Two years later, not only has that promise not materialized, critics say, but housing hasn’t been a prominent talking point for the premier even with the Ontario election less than a week away. Jeff Gray and Rachelle Younglai dive into Ford’s report card on housing, and why his critics say he failed the file.

Home of the Week, 108 Mason Blvd., Toronto The Print Market

108 Mason Blvd., Toronto — Full gallery here

For designer Steffanie Gareau, the toughest client she ever worked with was herself. When building her home 10 years ago, she wanted to both create the first shared house for her family, but also make a space that would serve as a calling card for her own work. White-oak hardwood fills the four-bedroom home, and touches of colour help add warmth to the space. A large room combines the dining and living spaces and wraps everything around the open kitchen, while skylights illuminate the area from above.

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