Palace Place is Toronto’s most luxurious waterfront condominium residence, featuring every conceivable 5-star amenity, including valet parking, a private shuttle to downtown, and a Les Clefs d’Or concierge.
Canada’s future is riding on the next 30 days, as PM Carney promises a US deal by then. President Trump has yet to acknowledge such a commitment having been made.
Even if Prime Minister Mark Carney negotiated new trade deals with each G7 member other than the U.S., namely France, Germany, Italy, Japan, and the United Kingdom, the combined economic size of these countries would not match that of the United States. Based on 2024 IMF data, the GDP of these five G7 nations totals approximately $17.5 trillion, while the U.S. GDP stands at around $28.8 trillion. This means their combined economic output is only about 61% of the U.S. GDP, falling short by roughly $11.3 trillion, highlighting the significant gap in economic scale.
This is why resolving the remaining trade disputes with the U.S. is vital for Canada. Canada cannot be “the last country that tries to negotiate a trade deal” because “the last will absolutely lose” (Eric Trump on X 2025-04-03).
Should Carney succeed, then confidence in the economy will surge. This shift in perception is likely to drive a significant increase in home and condo prices. Now is the optimal time to buy real estate before the market heats up.
Should Carney’s efforts fail, it looks like Canada will be receiving a “Take it or Leave it” letter, which President Trump has recently announced would be issued to countries without a trade deal with the US. The Prime Minister of the UK should be commended for being among the few to seize the opportunity for a trade deal with the US.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Sadly, it looks like Canada will be receiving a “Take it or Leave it” letter, which President Trump has recently announced would be issued to countries without a trade deal with the US. The Prime Minister of the UK should be commended for being among the few to seize the opportunity for a trade deal with the US.
Canadian media are reporting that President Trump and PM Carney have agreed to extend trade talks for 30-days. US sources have yet to confirm this arrangement.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
The Globe and Mail is Canada’s largest and most read newspaper in print and online. When The Globe and Mail wants insight into the real estate market for Palace Place and Humber Bay Shores, they contact Luke Dalinda. You should too.
Palace Place prominently featured on the home page of the real estate section of The Globe and Mail
Here are the Globe’s latest articles featuring Palace Place and Luke:
Crunch time for Toronto home sellers as spring market heralds burst of activity
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Breaking: This morning on Fox News, President Trump and Mark Carney have announced their intention to resolve the remaining trade disputes in the coming days.
The Canadian economy could change overnight on an announcement of any form of a good deal between the two countries.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
In today’s Globe and Mail: Luke Dalinda talks condo market & Palace Place, 1 Palace Pier Court sales!
“Agent Luke Dalinda found two buyers for this newly renovated two-bedroom unit at the Palace Place condo complex by the mouth of the Humber River. They were both clients he had shown numerous other properties, including some in the same 32-year-old building. But both wanted to make their first offer on this property. “I do a lot of international marketing now, so [one set of] buyers were coming back to Canada, and it just so happened another party was looking too,” said Mr. Dalinda.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Breaking: Trump has just announced on Fox News that the US will send “take it or leave it” letters to the remaining countries that haven’t been in recent negotiations, meaning there will be no negotiations with them. Due to the complete lack of transparency from our Canadian federal government, we can only conclude that Canada would be included in this “take it or leave it” list due to its continued inability to strike a deal with the USA.
President Trump has said, “We’re going to send them a letter telling THEM what the deal will be”.
It seems the ship has sailed for Canada.
While other countries move quickly to secure U.S. trade deals, Canada remains complacent and apathetic.
As Eric Trump has repeatedly counselled on X, “I wouldn’t want to be the last country that tries to negotiate a trade deal with @realDonaldTrump. The first to negotiate will win – the last will absolutely lose. I have seen this movie my entire life…”
Yet again, Luke Dalinda has broken the news that has since set X ablaze carrying this report, citing Luke as the source. For news at the speed of need, always follow @LukeDalinda and this blog!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
In the resale market, spurts of activity come from downsizers and first-time buyers, but sales and showings vary from week to week, says Luke Dalinda, real estate agent with Royal LePage Real Estate Services,
As in other areas of the GTA, investors have mostly vanished, and the buyers tend to be people who plan to live in the unit.
In late May, there were 328 condo apartments listed for sale in Humber Bay Shores near Park Lawn Road and Lakeshore Boulevard West.
“We’ve never had over 300 before,” says Mr. Dalinda. “It’s beyond a buyer’s market.”
Sellers who see their unit languish on the market are often turning to the rental market instead.
“That’s a conversation that’s happening a lot,” says Mr. Dalinda. “The landlords you’re seeing now are not landlords by choice – they’re forced to be landlords.”
At the end of May, 250 units were available for lease.
In April, Mr. Dalinda drew two offers for a two-bedroom condo listed with an asking price of $1.499-million at Palace Place in the Humber Bay area.
Unit 3502 at One Palace Pier Court sold after 32 days for $1.388-million.
The successful bidder was a young professional who was buying for the first time, he adds.
Mr. Dalinda says the recently renovated unit provided 1,186 square feet of living space and views of Lake Ontario and the city skyline.
“We were a bit aggressive with the price,” acknowledges Mr. Dalinda, but when he listed the unit in March, he hoped that trade jitters would settle down.
Instead, April brought more uncertainty and buyers became more indecisive.
The units that do sell tend to be spacious and renovated with a view of the water, Mr. Dalinda says.
That tranche of buyers favours large units with solid floor plates and thick walls, he adds.
“They like having a suite where they can play a piano and not have to worry about their neighbour.”
When The Globe and Mail wants insight into the real estate market for Palace Place and Humber Bay Shores, they contact Luke Dalinda.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Sellers hold firm on your prices. You poured sweat and sacrifice into owning your property—don’t let it be snatched up cheaply by those unable to match your investment. This is not about redistributing wealth from the haves to the have-nots. Hold your ground. The world we are enduring right now was created by those who are definitely no smarter than you are, so take it back! As consumer confidence rebounds, the market will stabilize. In the meantime, fight for what you have worked so hard for by demanding transparency, accountability, and action from your government.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Today, June 4, 2025, the Bank of Canada has announced that it is holding rates again at 2.75%.
While the BoC cites trade disputes as the biggest driver of uncertainty, there remains no efforts or plans by our leaders to negotiate deals or offer Canadians confidence. Instead, we continue to sit in limbo. With the exception of steel, aluminum, and some food products, the trade war described in the media is highly exaggerated, given USMCA exemptions and other tariff relief. For more insight on that, please read: https://palaceplace.com/are-we-really-in-an-economic-crisis/
The best rates that we have seen so far:
3 year fixed at 4.14% (Increased from 4.09% in March 2025)
5 year variable at 4.25%
The next scheduled date for announcing the overnight rate target is July 30, 2025.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
A report by Desjardins, which had been published on May 23, 2025, has issued caution over a lack of fiscal transparency by the Canadian Liberal government from its delays of the 2025 Budget until the fall. Because of the government’s failure to publish timely deficit forecasts and fiscal targets, Canada risks eroding its fiscal credibility. Increased spending and tax cuts, driven by broader economic pressures from U.S. policies, are the main drivers of concern. Desjardins projects federal deficits to be much larger than had previously been planned, estimating a cumulative deficit of a quarter trillion dollars over the next five years (2025-2030). In fact, it has been predicted that Canada will issue $600 billion in debt in 2025-2026, approaching levels that had been seen during the peak of the pandemic in 2020-2021 (Graph 3 of the Report). This lack of transparency and growing deficits could lead to a sovereign rating downgrade, impacting Canada’s standing in global markets.
Impact on Real Estate
Toronto and Vancouver have already faced significant price drops and cooling demand in their condo markets, with prices in the Greater Toronto Area down 16.5% and Greater Vancouver down 9% since their 2022 peaks, alongside sales declines of 30% and 20% year-over-year as of April 2025, respectively.
Higher Interest Rates
Large-scale government borrowing to finance these deficits may further drive up interest rates by increasing credit demand, with the Bank of Canada potentially raising rates to curb inflation from heightened spending, which would further increase mortgage borrowing costs, intensifying pressure on these already strained markets. Additionally, a potential sovereign rating downgrade could raise borrowing costs for developers, slowing new housing projects and exacerbating supply shortages.
Outlook: A Deepening Crisis – Canada needs Confidence Restored Now
Without immediate transparency and the communication of a plan by Canada’s new Prime Minister Mark Carney, Canada’s fiscal mismanagement and the delayed Budget 2025 are poised to deepen the economic strain, likely pushing the real estate market into a prolonged downturn, as affordability worsens and global confidence in Canada’s financial stability erodes further.
Reference: Desjardins Economics (2025). Mixed Signals on the Budget Risk Eroding Canada’s Federal Fiscal Credibility.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
When Canadians realize that we are not in a full-scale trade war with the U.S., but rather facing manageable trade disputes that can be resolved through mediation, confidence in the economy will surge. This shift in perception is likely to drive a significant increase in home and condo prices. Now is the optimal time to buy real estate before the market heats up.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
One of the key factors distinguishing the Dalinda Team is our belief that, “Information is the key in turning uncertainty into opportunity”. We pride ourselves in providing our clients with market news at the speed of need, enabling them to make timely, informed decisions. In that regard, here is our latest perspective on the Canada-US “trade war”.
“With many counter-tariffs gone, it’s time for Ottawa to stop playing politics and start telling Canadians the truth — the tariff narrative no longer matches economic reality.”
In a National Post article published on May 15, 2025, wherein an Oxford Economics study had found that, in April 2025, during Canada’s election campaign, Prime Minister Mark Carney had quietly moved to eliminate most retaliatory tariffs on U.S. goods, a decision made on April 16 and effective from May 7, following his first official meeting with President Trump on May 6. This had reversed the previous “dollar-for-dollar” tariff policy set by Justin Trudeau, though some tariffs, including those on orange juice, coffee, alcohol, and certain machinery, have remained.
Carney’s almost secretive actions, which had not been made in a public announcement during the campaign nor have they been announced at any time since, had been intended to ease economic pressures. Why the lack of transparency?
USMCA compliant goods will also remain at 0%. What is USMCA compliant you may ask? USMCA-compliant goods are products meeting the United States-Mexico-Canada Agreement’s rules of origin, qualifying for tariff benefits when traded between the U.S., Mexico, and Canada. Example: A car built in Ontario, Canada, with 75% of its parts sourced from Canada or the U.S. Non-compliant goods would be those made in China and shipped through Canada.
Canada is not for sale: Doug Ford’s misrepresentation
Doug Ford has falsely claimed that Donald Trump has offered to buy Canada. No such offer has ever been made. While Trump has expressed openness to Canada becoming the 51st state, he has never proposed purchasing it. Ford’s baseless assertion, tied to his “Canada is not for sale” merchandise sales, has shifted focus from critical tariff negotiations.
Again, some Canadian retaliatory tariffs remain in place, including on specific food items such as orange juice, alcohol, and coffee. Some American tariffs remain in place too, but nothing to substantiate our economic death spiral, as evidenced across numerous sectors.
Are we really in a trade war, or are we just in need of mediation over some trade issues?
Why is a false narrative being pushed upon us that, as Mark Carney had said on X on May 11, 2025, “We are in the biggest crisis of our lifetime”?
Our Federal Government has just announced that there will be no Federal Budget for 2025, denying Canadians the the ability to scrutinize the use of public funds, undermining transparency and accountability.
“I still don’t like this one bit. Canadians have a right to know the state of the government’s finances—like how bad are they now” – Derek Holt, Vice President and Head of Capital Markets Economics at Scotiabank
In these challenging times, Sellers and Buyers are looking for confidence and hope, which we submit can only come from truth.
When Canadians realize that we are not in a full-scale trade war with the U.S., but rather facing manageable trade disputes that can be resolved through mediation, confidence in the economy will surge. This shift in perception is likely to drive a significant increase in home and condo prices. Now is the optimal time to buy real estate before the market heats up.
After immense pressure, Prime Minister Carney has agreed to deliver a Federal Budget this fall.
In response, Pierre Poilievre has said, “A so-called budget to be tabled in the fall when half the budget year is over. In what world does this make sense?”
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
