On June 29, 2026, the Royal Bank of Canada had released a study that suggests that it is now easier to buy a condo in Toronto. According to RBC, the condo affordability measure had improved to 35.2 percent of median household income in Q1 2026, returning near pre-pandemic levels due to lower prices and rising incomes. Toronto condo prices have declined sharply in recent years and are nearly back to Q4 2019 levels.
Toronto condo icon, Brad J. Lamb has stated, “Prices are probably 50 per cent below where they should be. It’s never going to be cheaper than now, yet people don’t think it’s cheap enough.”
As for the RBC study, it is important to note that this had occurred even as consumer insolvencies had reached record highs not seen since 2009 because RBC’s measure focuses on median household data rather than financial distress indicators.
After a year of empty promises and false hopes by the Canadian government to secure a trade deal with the US, despite numerous deadlines, including the final one today, July 1, 2026, the US has decided not to renew the USMCA, which will now default to annual reviews, triggering more uncertainty for Canada.
The Office of the United States Trade Representative has released the following statement:
“July 01, 2026
WASHINGTON – The Agreement between the United States of America, the United Mexican States, and Canada (USMCA or “Agreement”) requires the USMCA Free Trade Commission, composed of government representatives of each Party, to conduct a joint review of the Agreement on July 1, 2026. In accordance with the Agreement, the United States, Mexico, and Canada met virtually today to discuss the operation of the USMCA. The United States did not agree to renew the USMCA in its current form. As a result, the USMCA is not renewed. The United States will continue to engage with Mexico and Canada to address the Agreement’s shortcomings and our trade deficits with these countries. However, the Agreement remains in force pending resolution of these issues or until the Agreement’s termination. As previously announced, the United States will meet with Mexico the week of July 20 for a third round of bilateral negotiations related to the USMCA joint review.”
The US still takes roughly 75 percent of Canadian goods exports. That level of dependency creates massive asymmetry. When Washington keeps the agreement in a permanent state of review and renegotiation, Canadian businesses face chronic uncertainty on rules of origin, tariffs, investment, and supply chains. Long-term planning, plant expansions, and cross-border integration all get harder and more expensive. Markets price in that risk immediately.
Yes, US industries will flood DC with lobbyists if disruption looks real and that’s helpful. But those same industries are also the ones pushing for updates that usually mean more concessions from the smaller partner. The leverage is overwhelmingly one-sided. Canada and Mexico are far more exposed than the US economy as a whole.
If any future administration can simply reopen or threaten the deal again, we never actually escape the negotiation treadmill. Stability becomes the exception, not the baseline.
Interestingly, as per the US announcement, Mexico is set for a third round of bilateral negotiations on July 20 while Canada sits idle.
For Canada, USMCA is not just another trade deal. It’s the foundation of our economic relationship with our largest, by far, trading partner. Predictable, rules-based access matters enormously when three-quarters of our exports go to one market. More negotiations and more uncertainty, even without collapse, still carries real costs in delayed investment, higher risk premiums, and lost opportunities.
Canadian leaders tout success in achieving a 10% increase in trade with countries like France valued at $1.2B while the US represents almost $720B (imports and exports) annually.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 4006 – Just Sold for $1,735,600 (Seller Representative)
Luke Dalinda has set another benchmark price for Palace Place, by having just sold Suite 4006 for $1,735,600, or $856 per square foot.
This remarkable accomplishment during a recession has been achieved through hard work. In addition to his unrivalled marketing plan, Luke Dalinda had ensured that every single showing understood the value and opportunity of Palace Place.
Palace Place is an Amazing Deal for Buyers: Where else can you get the 5-star life for this price?
The buyer did very well too, by having secured a trophy condo for $856 per square foot when Palace Place suites have sold as high as $1,170 per square foot. While larger-sized suites will always generate a lower price per square foot than the smaller suites, at $856 per square foot, the buyer has purchased a brand-new, turn-key renovation with hundreds of thousands in upgrades.
Buyers want space, and, most importantly, buyers want quality. New construction fails to deliver these two key requirements. Palace Place offers unrivalled construction, spacious floor plans, 5-star amenities and services, and million dollar forever views that you cannot find in new buildings today!
Other realtors cannot replicate these results because they are uninformed about the numerous features that set Palace Place apart from other buildings. Also, their focus is everywhere else but Palace Place, so they want a fast sale so they can move on to other deals.
This is why when it comes to Palace Place, it pays to list with Luke Dalinda. Luke offers better service and better results (for less than what your cousin/brother/friend realtor charges).
Call, text, or email me today to learn exactly what I bring to the table to help you to achieve the best price possible.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Today, June 10, 2026, the Bank of Canada has announced that it is holding its rate again for the fifth consecutive time at 2.25%, keeping the rate that it had first established on October 29, 2025.
As we have maintained since April 2025, the Canadian economy would gain significant stability from a robust trade agreement with the United States, provided the government can overcome its ineffective negotiation efforts. The USA buys over 75% of Canada’s exports, making the USA Canada’s biggest and most important trade partner. The deadline for the review of USMCA is on July 1, 2026. If Canada does not have a deal by then, it will trigger immense uncertainty for the Canadian economy, as the USMCA will then default to annual reviews.
The USA has almost reached a deal with Mexico. It has not even confirmed any talks with Canada yet. In fact, President Trump had stated in a press briefing on June 10, 2026 that “It was a great deal for one reason: it gave the right to terminate. It was very important that we be able to do that. So we’re talking to them. We’ll see if we do something.”
Despite the Bank of Canada Governor’s dangerous posturing today by having stated, “Recession is not the word I would use,” the salient facts are that Canada has slipped into a recession, mortgage delinquencies are at record highs, and personal debt has increased by over 32%.
This indicates that the market may face increased headwinds shortly.
In Humber Bay Shores, active inventory has risen sharply from 197 active listings this spring to over 257 now, signalling softening demand and potential downward pressure on prices in the coming months.
The best rates that we have seen so far:
3 year fixed at 4.09% (decreased from 4.19% in April 2026)
5 year variable at 3.60%
The next scheduled date for announcing the overnight rate target is July 15, 2026.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Waterford Towers, 2087 Lake Shore Blvd W, Suite 1504 – $699,000
Step into your tranquil haven where endless blue waters unfold before you and one of the largest interiors at Waterford Towers caters to your every need. Suite 1504 is a bright, spacious condominium residence, with approximately 1,144 square feet of living space, plus a spacious balcony, 2+1-bedrooms, high ceilings, luxurious finishes, and views of the lake, city skyline, and parklands.
Waterford is a first-class, state-of-the-art luxury condominium residence consisting of three buildings, which had been built by Canderel Stoneridge, builders of some of the most extraordinary condominium residences in Toronto.
Waterford features numerous amenities, including a security system, with a 24-hour concierge and video surveillance, 2 guest suites, a rooftop patio, a party room, a billiards room, a conference room, and a fitness facility, with an indoor pool.
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity! E: LDALINDA@DALINDA.NET • TEL: 416-725-7170
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 4006 – $1,799,000
Welcome to your private waterfront oasis where endless water views unfold before you and a spacious, sophisticated interior fulfills your every desire.
Suite 4006 is an elegant condominium residence, with approximately 2,028 square feet of luxury living space, 2-bedrooms, and the most immersive views of the lake, the city, and the Humber Bay Shores parklands. Featuring a brand-new, show-stopping kitchen by renowned Mary Stanton Interiors, Brazilian cherrywood hardwood floors, and classical luxury finishes, this suite exudes elevated living.
Contact Luke Dalinda now for your exclusive opportunity to tour this incredible opportunity!
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
In the condominium world, it has always amazed me how quickly builders disappear after construction.
They finish their work and never return.
This has always troubled me. Why would builders not take great pride in their creations and remain connected to them?
At Palace Place, the situation is different. I have stayed in regular contact with many from the original Bramalea team. We have met often over the years. Those conversations have given us invaluable insight into why things were built the way they had been built and how the builders had envisioned future repairs and replacements.
This knowledge is unparalleled. It also allows us to geek out over some truly unrivalled features in this building.
I am deeply humbled to be recognized by my dear friends with this honor.
Palace Place, 1 Palace Pier Court, Suite 1609: JUST SOLD!
(Represented Buyer and Seller)
In these times of market uncertainty, it takes experience to get the deal done.
Luke Dalinda has almost 3-decades of encyclopedic knowledge in selling at Palace Place and across Humber Bay Shores.
Let the #1 Top Selling Realtor in Humber Bay Shores get the deal done for you.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Today, we celebrate the birthday of Toronto’s most luxurious waterfront condominium residence, Palace Place.
Situated on 5-acres of lush, landscaped grounds at the mouth of the Humber River, Palace Place offers the most enchanting forever views of the lake and city skyline from sunrise to sunset.
Palace Place soars into Toronto’s skyline with 47-storeys that have been enclosed in a spectacular glass facade, but the magic of Palace Place starts with its history and construction.
Completed in 1993, at a record $200-million, Palace Place was built by Bramalea Limited, Canada’s largest builder at the time. Palace Place is not “the second Pier” or “the South tower,” it was built to set a standard and example for condominiums in Canada.
Palace Place defines luxury from offering high-end finishes and appointments to a full spectrum of all-inclusive services that include a private shuttle service, valet parking, and one of the only condominiums in Toronto to offer Les Clefs d’Or concierge services, the same service that you would find on a visit to the Four Seasons.
Today, Palace Place is widely regarded as the gold standard for best managed condominiums.
We take great pride in welcoming visitors to experience the legacy and elegance of Palace Place.
On average, condos in Ontario are facing insurance premium increases of at least 7.15%, with many facing double-digit hikes.
We have delivered yet another insurance premium decrease for Palace Place, this year down by 13%, given our 8 consecutive years of claims-free status and our proactive approach to plumbing maintenance.
Today, April 29, 2026, the Bank of Canada has announced that it is holding its rate again for the fourth time at 2.25%, keeping the rate that it had first established on October 29, 2025.
The Bank of Canada has noted that housing activity declined in late 2025 and continues to face headwinds from economic uncertainty about tariffs and trade relations with the United States, affordability challenges, and slower population growth. While consumer spending is supporting the broader economy, high uncertainty around U.S. tariffs and the Middle East conflict is weighing on business investment and exports. Overall Canadian GDP growth is forecast at a modest 1.2% for 2026, gradually picking up in 2027–2028.
Inflation Rising but Expected to Ease CPI inflation had risen to 2.4% in March 2026, driven largely by higher gasoline prices from the Iran conflict. The Bank expects inflation to climb further in April (around 3%) before trending back toward the 2% target by early 2027, assuming oil prices moderate. Core inflation remains well-behaved just above 2%.
What This Means for Real Estate Although the Bank of Canada held its key policy rate steady at 2.25% today for the fourth consecutive meeting, this pause is likely temporary. Inflation has already climbed to 2.4% and is forecast to reach about 3% in April, driven by sharply higher energy prices from the Middle East conflict. The Bank has explicitly stated it “will not let higher energy prices become persistent inflation” and stands “ready to respond as needed.”
For homebuyers, this means now is the time to buy. Rates are still at attractive levels after months of holds, but they will undoubtedly increase in the coming months as the Bank acts to keep inflation in check. Securing a mortgage today lets you lock in today’s lower borrowing costs before they rise, protecting you from higher monthly payments later. With housing activity already soft and affordability pressures mounting, acting now positions you ahead of the curve.
While this news should spur activity, sellers should recognize the need for their properties to be the ones chosen by buyers. Competitive pricing is essential.
In Humber Bay Shores, active inventory has fallen from over 300 active listings this summer to just 197 now, signalling renewed buyer confidence albeit at lower prices.
The best rates that we have seen so far:
3 year fixed at 4.19% (increased from 3.99% in March 2026)
5 year variable at 3.60%
The next scheduled date for announcing the overnight rate target is June 10, 2026.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
