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A new report by Desjardins warns Ottawa’s efforts to kickstart new housing supply likely won’t be enough to meet “optimistic” targets due to regulatory hurdles and constraints on labour, materials and financing. The report, released Tuesday by economists Marc Desormeaux, Kari Norman and Randall Bartlett, highlighted the ongoing labour shortage …
Read More »‘It’s crickets’: How sellers are getting creative in a slow housing market
A flood of listings in many Canadian housing markets is giving buyers who can qualify their pick of the litter and is forcing some sellers to get creative to land a deal. A glut of condos in Toronto, for example, means some sellers have to pull out unorthodox strategies to …
Read More »As interest rate decision looms, here’s what to expect in the fall housing market – National
Canada’s housing market could face a chill this fall as prospective buyers and sellers wait to see where the Bank of Canada’s interest rate path will head, according to new polling released Tuesday. Re/Max Canada said in a report that home prices are expected to remain flat nationally from August …
Read More »Colleges, universities have role to play in solutions to housing crisis: report
All levels of government need to collaborate to get more housing built in Ontario, but that work also needs to include the post-secondary education sector, says a report published Thursday by a University of Ottawa-based think tank. The Smart Prosperity Institute report, says the provincial government’s goal of building 1.5 …
Read More »‘Increasing demand’ for secondary units as homebuyers grapple with rate hikes – National
As Canadians grapple with interest rate hikes and high mortgage payments, there is a growing demand for houses with secondary units, like basement apartments and laneway homes, real estate experts say. Recent changes in zoning bylaws in cities across Ontario and Alberta have offered greater flexibility for building new secondary …
Read More »Rents dwarf minimum wage in every province. Rising interest rates aren’t helping – National
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 »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 »Housing upturn could delay a shift by Bank of Canada to cut rates. What to know – National
Signs of recovery in Canada’s housing market after a year-long slump, just as higher borrowing costs are expected to slow much of the rest of the economy, could raise inflation and delay a shift by the central bank to interest rate cuts, analysts said. The housing market’s upturn comes after …
Read More »High interest rates are slowing homebuilding, but the worst is yet to come – National
Homebuilding in Canada is slowing down just as policymakers are trying to pick up the pace. The rapid surge in interest rates over the last year is starting to throttle the pace of homebuilding, the Canada Mortgage and Housing Corp. (CMHC) warned in a new housing supply report Wednesday. As …
Read More »A look at the ‘daunting’ costs many Ontario homebuyers face in their 1st year of ownership
New analysis is shining some light on the “daunting” costs many Ontario homebuyers face in their first year of ownership, particularly in the Toronto area. Point2 Homes released new data on Thursday looking at upfront costs and annual recurring expenses, including closing costs, the down payment, mortgage, property tax and …
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