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Pressure from higher interest rates and a lack of affordable housing means renters living on minimum wage in almost every neighbourhood across Canada are falling behind, a new report shows. A Canadian Centre for Policy Alternatives (CCPA) analysis released Tuesday evaluates housing markets in Canada by “rental wage” — the …
Read More »Construction underway on more affordable rental units in Kelowna – Okanagan
Construction is underway on more affordable housing in Kelowna. On Friday, federal, provincial and local housing officials announced they were spending $14.1 million on 75 rental units aimed at seniors, families, people with disabilities and individuals with low-to-moderate incomes. The low-rise apartment building is located at 651 Cambridge Ave., and …
Read More »Rental market report suggests increasing costs hitting Manitobans hard – Winnipeg
On average, Canadians are seeing an upward trend with respect to rent prices, and it’s a trend that playing out in a big way in Manitoba. Nationally, the average cost of rent was at its highest point last month when compared to the last three years – sitting at $2,042. …
Read More »Canada’s housing market has ‘rebounded sharply’. As rates rise, can it last? – National
The Bank of Canada’s return to interest rate hikes will not be enough to fully tamp down an uptick in activity in the housing market, argues a new report from Desjardins. Signals from the Bank of Canada that its interest rate tightening cycle had possibly peaked in January gave way …
Read More »Homelessness, safety top of mind as Toronto mayoral byelection looms – Toronto
As voters prepare to head to the polls to elect a new mayor of Toronto, two topics remain top of mind: safety along the city’s transit system, and addressing the growing issue of homelessness. Earlier this year, the Toronto police deployed additional resources to the Toronto Transit Commission (TTC), including …
Read More »Danforth GO station: Toronto MPP questions lack of affordable housing in Metrolinx sale – Toronto
The Ontario government is under the microscope after allowing the sale of public land to a private buyer without assurances of affordable housing components. On March 8, Metrolinx finalized the sale of their property on 8 Dawes Rd., south of Danforth Avenue, to development company Marlin Spring. With discussions dating …
Read More »Renters in Hamilton are facing the toughest market since 2002: CMHC report – Hamilton
The rental market in Hamilton is as tough today as it has been in two decades with those seeking accommodation facing some of the lowest vacancy rates, rising prices and dwindling affordability, according to Canada’s housing agency. Canada Mortgage and Housing Corp.’s latest annual rental market report revealed the vacancy …
Read More »Waterloo Regional Council approves 2 measures to create more affordable housing in area
Waterloo Regional Council approved two measures on Wednesday night in a bid to create new affordable housing in the area. In one measure, council approved a measure which would allow the region to enter into an agreement with the Canada Mortgage and Housing Corp. which will see new funding arrive …
Read More »Developer, Indigenous groups unveil Belleville housing project – Kingston
There is exciting news in Belleville, as plans are in motion to turn a surplus federal office building into affordable housing, in partnership with three First Nations groups. There were smiling faces all around Tuesday as a formal announcement was made about plans for a “luxury apartment complex” that will …
Read More »Feds, church group give $208K to Belleville housing project – Kingston
Ahmed Hussen, Minister of Housing and Diversity and Inclusion, and Shawn Stickler, lead pastor of the Pentecostals of Quinte, announced combined funding of over $208,000 to support the development of new affordable housing units in Belleville. The Pentecostals of Quinte church complex in Belleville is building seven housing units for …
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