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Development

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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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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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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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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Rentals.ca August 2018 Rent Report

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Rentals.ca August 2018 Rent Report

While the media often talks about the skyrocketing rent prices in Vancouver and Toronto, in August, most major Canadian cities saw a drop or a minor increase month-over-month. The largest jumps were actually in suburban communities and smaller cities. Aside from Halifax – where rent has crept up for one bedrooms – the East Coast is holding steady. National Rankings Looking at housing in terms of overall rental prices rather than rent increases and decreases, it’s clear that Toronto and...

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Calgary has more cranes than New York

Posted in Appraisal, CMHC, Communications, Development, Employment, Finance, Housing, Industry Trends

Calgary has more cranes than New York

Calgary’s housing market continues to struggle, but one real estate-related index could signify renewed confidence in the western Canadian city. According to the latest RLB Crane Index, which twice a year tracks the number of cranes in 13 major North American cities, there are more cranes set up in Calgary than in New York. With 26 cranes in the city as of June, Calgary tied with San Francisco for seventh on the index, while New York had 20. At last count in November, Calgary claimed 22 cranes...

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“Canada Just Got Played”: How Mexico Stabbed Canada In The Back

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

“Canada Just Got Played”: How Mexico Stabbed Canada In The Back

In what was the biggest economic news of the day, Donald Trump concluded bilateral trade negotiations with Mexico, a deal which he called the US-Mexico Trade Agreement (profiled previously) and which will replace the trilateral NAFTA which has – for now at least – been scrapped until Canada also comes to the negotiating table and hammers out an agreement with the US (read: concedes), from a position of weakness and virtually no negotiating capital. There were some odd twists in the...

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Alberta projects deficit drop of $1B in first-quarter update

Posted in Bylaws / Regulations, Communications, Development, Employment, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy

Alberta projects deficit drop of $1B in first-quarter update

Alberta’s finance minister says the court decision putting the Trans Mountain pipeline expansion in legal limbo won’t affect the long-term plan to rid the province of red ink by 2024. Joe Ceci says the province is relying on revenues not just from the Trans Mountain expansion but other pipeline projects as well, such as the Line 3 expansion from Alberta to Wisconsin and the Keystone XL line to the U.S. Gulf Coast. “There are a number of assumptions, not just (Trans Mountain.) We...

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