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Don’t blame real estate investors for rental market woes

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

Don’t blame real estate investors for rental market woes

Haider-Moranis Bulletin: A deep-dive into Toronto housing data should dispel some myths that have fuelled disdain for investors who make renting possible. Unlike owner-occupied housing, our understanding of rental housing is inadequate at best. Even basic information on the rental market, such as by the type and size of housing and across neighbourhoods, is not readily available. This leaves landlords, investors, and renters make do with incomplete and, at times, dated information. A...

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Condo buyers call for better protections as second major Vaughan condo project killed

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Real Estate Law, Tenancy Law

Condo buyers call for better protections as second major Vaughan condo project killed

There are growing calls for stronger homebuyer protections in the wake of a second major condo cancellation at the Vaughan Metropolitan Centre, this time affecting buyers of 1,633 units in the sold-out Icona buildings that were launched between January and March last year. The project by the Gupta Group at Highway 7 and Edgeley Blvd. was supposed to include the tallest condo in Vaughan at 55 storeys. But this week, the developer sent cancellation letters dated Sept. 14, citing “circumstances...

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‘No good way out of this’: Why controversial legislation might not solve Trudeau’s pipeline problem

Posted in Bylaws / Regulations, Communications, Employment, Finance, Industry Trends, Legislation, Newsworthy, Utility Management

‘No good way out of this’: Why controversial legislation might not solve Trudeau’s pipeline problem

Justin Trudeau has a plan to get new Canadian pipelines built, but legal experts warn the prime minister could fail to get shovels back in the ground under his proposed changes. The federal plan to revamp how major natural resource proposals are reviewed – a series of legislative changes contained in Bill C-69 – will make future pipeline approvals “much less likely to be slapped down with a court case,” Trudeau said during an early September visit to Edmonton. His comments came less than a...

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B.C. Renters Face Biggest Rate Hikes In A Decade

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Real Estate Law, Rent Control

B.C. Renters Face Biggest Rate Hikes In A Decade

An extra $1,080 a year on a median one-bedroom apartment in Vancouver. The B.C. government has released its 2019 rental guidelines dictating exactly how much landlords can hike the rent by, and tenants may want to brace themselves. The maximum allowable rental increase for 2019 is 4.5 per cent, up from this year’s cap of four per cent and the biggest allowable increase since 2004, when hikes were limited at 4.6 per cent. The rental increase is based on the provincial government’s...

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Mexico Goes to U.S. to Advance Nafta Deal With or Without Canada

Posted in Bylaws / Regulations, Communications, Employment, Finance, Industry Trends, Newsworthy

Mexico Goes to U.S. to Advance Nafta Deal With or Without Canada

Mexico’s chief Nafta negotiator headed to Washington as the nation reiterated that it’s prepared to pursue a new bilateral trade deal with the U.S. even if it ends up leaving out Canada. Kenneth Smith Ramos and his team plan to work on wording of the U.S.-Mexico trade agreement that President Donald Trump intends to sign by the end of November. His visit is the first by a high-level Mexican negotiator since the two nations announced a framework deal at the end of August. Meanwhile, Canadian...

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Greenhouse growers uproot other crops for a stake in lucrative cannabis market

Posted in Bylaws / Regulations, Communications, Employment, Finance, Health & Safety, Industry Trends, Legal, Legislation, Newsworthy

Greenhouse growers uproot other crops for a stake in lucrative cannabis market

LINCOLN, Ont. — Inside this southern Ontario greenhouse, workers delicately clip each stem of a potted orchid onto thin, black stakes jutting out from its soil, marking the finishing touches on the final floral harvest before turning over a new leaf: marijuana. The Lincoln, Ont. facility, which was purchased by Newstrike Resources Ltd. last year and will be filled with cannabis plants in the coming months, is one of many across Canada where traditional crops are being uprooted as...

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Ontario urges Morneau to be ‘bold’ amid competitiveness fears

Posted in Bylaws / Regulations, Communications, Development, Employment, Finance, Industry Trends, Legislation, Newsworthy, Tax Law

Ontario urges Morneau to be ‘bold’ amid competitiveness fears

Two members of Doug Ford’s cabinet are urging Finance Minister Bill Morneau to take “bold action” in his fall economic update to address a drumbeat of warnings about eroding Canadian competitiveness, according to a letter exclusively obtained by BNN Bloomberg. Ontario Finance Minister Vic Fedeli and Jim Wilson, the province’s minister of economic development, sent a letter to their federal counterparts on Friday urging them to focus on capital investment expensing as a...

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Belleville: Housing Crisis Main Theme of Mayoral All-Candidates

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Rent Control, Tax Law, Tenancy Law

Belleville: Housing Crisis Main Theme of Mayoral All-Candidates

Belleville Mayoral candidates will face residential landlords in the Quinte region at an upcoming all candidates meeting. The Quinte Region Landlord Association is hosting a Belleville mayoral all candidates meeting on Monday September 24 6:30pm in Belleville. The main theme of the meeting will be the local housing crisis and how landlords are being handcuffed by government policy to improve the situation. “We have a lot of upset members who would like to ask about key municipal issues which...

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Canada’s Unemployment Rate Jumps To 6% As Country Sheds 52,000 Jobs

Posted in Communications, Employment, Finance, Industry Trends, Newsworthy

Canada’s Unemployment Rate Jumps To 6% As Country Sheds 52,000 Jobs

Ontario led the way with a very large loss of 80,000 jobs. The momentum in Canada’s job market is fading. The country’s unemployment rate rose to 6 per cent in August, from a four-decade low of 5.8 per cent the month before, recording a surprise loss of 51,600 jobs, Statistics Canada said Friday. Economists had been expecting an increase of around 5,000 jobs for the month. The losses almost completely erased the 54,000 jobs created in July. Ontario led August’s drop, shedding...

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Rent control is doing little to curb Toronto’s soaring rents

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Legislation, Newsworthy, Real Estate Law, Tenancy Law

Rent control is doing little to curb Toronto’s soaring rents

Do stricter rent control laws slow the increase in residential rents? Housing advocates and left-leaning governments believe they do. However, recent data from Ontario appears to offer further proof that this is not the case. In April 2017, Ontario’s then-Liberal government introduced the Rental Fairness Act, which expanded rent control to all private rental units. The Act restricted rent increases to 1.5 per cent in 2017 and introduced additional provisions to protect tenants from being...

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