Long-time realtors are quitting in Ontario and the Home of the Week: Canadian real estate news for November 15

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Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

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Long-time realtors are leaving the business in Ontario’s biggest real estate board

Seasoned members of the Toronto Regional Real Estate Board (TRREB), faced with a tough year of higher professional fees, lower transactions and an increasingly complex market are leaving the business altogether, writes Shane Dingman. According to Toronto realtor Scott Ingram, membership to the TRREB dropped 8 per cent at peak renewal time this January, making it the steepest fall since 1991. Despite a high number of new realtors joining in Ontario every year, industry pros say the industry is losing veteran agents and replacing them with realtors who are part-timers — and one broker said there could be thousands of agents in the province who are doing almost no transactions at all.

New financial products offer cashback on rent. Is it a worthwhile perk?

As the number of renters in Canada continues to climb, credit card issuers and fintechs are targeting this growing segment of the population with new perks, like 0.25-per-cent returns through a cashback program. But it’s important to consider whether the rewards of paying rent with credit justify the fees and how renters paying with e-transfers or cheques can truly benefit, writes Mariya Postelnyak. Paying interest on your rent because you put it on a credit card can be a huge new expense, so make sure you’re spending enough to offset the additional fee.

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Foreign money continues to flow into B.C. real estate

The federal foreign buyer ban has been operating since January, 2023, but foreign buying in British Columbia went higher this year over last in residential dollar value, according to new data analysis. A Simon Fraser University associate professor found that foreign involvement residential transactions added up to nearly $824 million in 2024. The overwhelming majority of transactions are for properties under $1-million, which could be an indication that they are presales that took a couple of years to close and become final, writes Kerry Gold. Professor Andy Yan says this is a sign that the foreign buyer ban isn’t as bulletproof as once thought, and its role in the real estate market should be re-evaluated.

Opinion: Yes, homeowners are richer than renters. But that doesn’t mean renters are doomed in retirement

A recent Statistics Canada report showed homeowners were much wealthier than renters, seemingly undoing years of badly needed perspective on the increasing costs of homeownership. But young people priced out of home ownership can still build the wealth they need to retire and reach other financial goals, writes personal finance columnist Rob Carrick. Rents are expensive today, but they remain a vastly cheaper way to live than owning. Every aspect of home ownership gets more expensive by the year – home insurance, property taxes and maintenance. And longer lifespans for younger renters means more time spent saving for retirement, and they will be able to channel their secret power — having extra money to invest compared with homeowners who are loaded down with huge and neverending expenses.

Home of the Week: Chaplin Estates home built in 1926 is an archaeologist’s treasure

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38 Lascelles Blvd., Toronto – Full gallery here

The five-bedroom house is just a short walk from the Yonge subway line in Toronto, but sits on a quiet street full of cottage-style homes. A large formal living room on the main floor features a wood-burning fireplace, bay window and room for a baby grand piano. The kitchen at the rear of the main floor has white cabinets, built-in wall ovens and an island. Doors open to a deck and patio. The second and third levels house the bedrooms, and the finished basement provides a recreation room and an additional bedroom or office.