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After nearly two years of hikes to the Bank of Canada’s benchmark interest rate, some forecasters are expecting the housing market correction will come to an end in 2024. But when that bottom hits, and how fiercely home sales and prices rebound, is a question dogging some Canadians who continue …
Read More »Developer to build 5K rental units, cites Liberals’ GST break as motivator
A Toronto-based real estate company says it is planning to build 5,000 new rental units in urban centres across the country as a result of the federal government’s decision to eliminate GST charges on rental developments. The CEO of Dream Unlimited Corp., Michael Cooper, says high interest rates and construction …
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 »Montreal renters are turning to apartment swapping amid ‘crazy’ affordability crunch
This is the sixth instalment of New Roots, a series from Global News that looks at how evolving migration patterns and affordability challenges have changed life in communities across Canada since the COVID-19 pandemic. “Apartment swap only,” begins the advertisement for renter Adam Reider’s three-bedroom, ground-floor apartment in Montreal’s …
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 »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 »Rents in Canada are through the roof. Here are the most expensive cities
Rent prices are through the roof across Canada as decades-high inflation has increased the cost of living in the country. The national average rent last month was $2,005 – an increase of more than 12 per cent compared with December 2021, according to Rentals.ca’s January 2023 Rent Report. Vancouver remains …
Read More »Canada needs homes built but doesn’t have workers to do it. Are robots the answer? – National
This is part three of a four-part series examining how automation will change Canadians’ lives, for better or worse. Homebuilders and policymakers have been grappling for years with a problem that comes, fundamentally, down to arithmetic: the number of homes Canada must build keeps growing, and the number of …
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