Snowbirds Bail, RE/MAX’s $7.8M Settlement & Student Visa Cuts

🐦 Snowbirds Ditch Florida as Trump Targets Canada

• Over 1M Canadian snowbirds typically travel to the U.S. annually, and many are now reconsidering trips due to Trump’s aggressive rhetoric toward Canada.

• Some snowbirds are canceling trips and choosing Cuba and the Dominican Republic despite long-standing travel ties to Florida.

• A Fort Lauderdale real estate agent reported 30 of her 35 listings are Canadian-owned properties, with zero Canadian buyers—an unprecedented shift in 12 years of selling.

Why This Matters: If demand from Canadian buyers remains weak, rental markets could soften, especially in seasonal areas that rely on snowbirds. Political uncertainty and economic factors could diversify snowbird destinations, shifting demand to Caribbean and Mexican markets.

_(source)

💸 RE/MAX Settles $7.8M Lawsuit Over Price Fixing

• RE/MAX Canada agreed to a CAD 7.8M settlement to resolve two class-action lawsuits alleging price-fixing through buyer brokerage commissions.

• The lawsuits claim that forcing sellers to pay buyer brokerage commissions violates competition laws and artificially inflates fees.

• The settlement covers any Canadian selling residential real estate through MLS since March 11, 2010.

• Eligible sellers will split the USD 5.5M (CAD 7.8M) settlement if approved.

Why This Matters: Similar lawsuits have disrupted the U.S. real estate market, leading to potential changes in commission structures. These legal shifts could reduce transaction costs for sellers while increasing competition among agents. However, lower buyer brokerage commissions may challenge traditional agent compensation models.

_(source)

📈 Ontario Mortgage Delinquencies Surge 50%

• Ontario mortgage delinquencies jumped 50% above pre-pandemic levels, with 11,000 mortgages missing at least one payment in Q4 2024

• Over 1M mortgage renewals are expected in 2025, likely forcing more homeowners to sell due to unaffordable payments.

• The 90-day delinquency rate in Ontario rose 90% year-over-year, outpacing Quebec at 41.2% and B.C. at 37.7%

• Toronto has Canada's third-highest non-mortgage delinquency rate at 2.06%, behind only Fort McMurray and Edmonton.

Why This Matters: Increased financial strain could drive more distressed sales, leading to a rise in listings and potential price declines. Investors with cash could find opportunities as homeowners facing unaffordable renewals look to sell quickly.

_(source)

🧾 6 Real Estate Tax Breaks You Need to Know

• Home Buyers’ Plan (HBP): This allows first-time buyers to withdraw up to $60,000 tax-free from their RRSP for a home purchase, with a 15-year repayment period.

• First Home Savings Account (FHSA): New savings plan allowing contributions of up to $8,000/year (or $40,000 lifetime) toward a home purchase.

• Home Buyers’ Amount (HBA): A non-refundable tax credit of up to $1,500 for first-time homebuyers.

• Home Accessibility Tax Credit (HATC): This credit provides up to $20,000 in eligible expenses for home renovations that improve accessibility, with a maximum of $3,000.

• Multigenerational Home Renovation Tax Credit (MHRTC): Refundable tax credit up to $7,500 for secondary suites added for seniors or disabled family members.

• GST/HST New Housing Rebate: This rebate applies to a portion of GST/HST paid on a newly built home and to homes worth less than $450,000.

_(source)

🤔 WTF of The Week:

Ontario faces a perfect storm in the housing market as record numbers of non-permanent residents leave and condo inventory piles up.

Outflows of temporary residents have nearly tripled from Q3 2022 to Q3 2024, hitting almost 120,000 departures.

With a flood of new condo completions expected and fewer renters to fill them, investors may struggle to find tenants or be forced to slash rents, while sellers could face stagnant or falling prices in an oversupplied market.

🛠 Our Trusted Providers

Tired of dealing with riff-raff service providers in real estate? These are our Trusted Providers—handpicked by Urban 411, so you can leave the guesswork at the door.

Zown

Empowering Canadian home buyers with innovative solutions.
Zown is reshaping the home-buying journey with offering 1.5% cash back on purchases. Their growing realtor network also enables licensed agents to unlock additional income while providing unmatched value to homebuyers. 👉 See Zown’s Offering

Trustii

Simplified tenant screening for landlords and property managers.
Powered by open banking, Trustii provides a digital platform to make background checks faster and easier for property managers and landlords. Urban 411 community members get an exclusive 10% discount on Trustii's services! 👉 Screen Your Tenants Today

HomeAbroad

Your One-Stop Solution for Canadian Investments in U.S. Real Estate
Unlock the U.S. property market with HomeAbroad’s 30-year fixed-rate mortgages, tailored specifically for Canadian investors! With no need for a U.S. credit history, you can qualify based on the property’s income rather than personal income or assets. Start your U.S. investment journey with ease. 👉 Get a Free Mortgage Rate Quote Now

Cardinal Law

The law firm for real estate investors in Ontario
Virtual, paperless, and secure for stress-free REI and private lending deals. Urban 411 members get a free corporate structure review, free will & estate plan review, plus 10% off any related work. 👉 Learn More About Cardinal Law

Top Investors Are Buying This “Unlisted” Stock

When the team that grew Zillow to a $16B valuation starts a new company, investors notice. No wonder top firms like SoftBank invested in Pacaso.

Taking the industry by storm all over again, Pacaso’s platform offers co-ownership of premier properties – completely revamping a $1.3T market.

And by handing keys to 1,500+ happy homeowners, Pacaso has made $100M+ in gross profits.

Now, with aggressive global expansion underway, their current share price won’t last long.

Invest for $2.70/share by 2/27.

👉 Missed last week's 411? View it here​
👋 Follow us on Instagram for daily news bites!​