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Finance

Ottawa giving BlackBerry $40M for self-driving car development

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

Ottawa giving BlackBerry $40M for self-driving car development

The Liberal government is giving $40 million in federal money to BlackBerry to help the company develop self-driving car technologies. Prime Minister Justin Trudeau was in the Ottawa suburb of Kanata on Friday to announce the support for BlackBerry, the one-time smartphone leader that is now working on advanced software for autonomous vehicles. BlackBerry says its QNX software is already in tens of millions of cars, guiding systems related to driver assistance, hands-free features and...

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The Bank of Canada might not be done hiking just yet

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

The Bank of Canada might not be done hiking just yet

Investors wagering that the Bank of Canada is ready to throw in the towel on its tightening cycle are setting themselves up for disappointment, say market strategists at some of the country’s biggest banks. As policy makers around the world pivot toward a more dovish interest-rate outlook, front-end traders are betting Canadian officials are set to follow suit and forgo raising rates again until at least 2020. Yet analysts at firms including TD Securities and Scotiabank disagree, arguing that...

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Rental demand in Calgary remains voracious

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

Rental demand in Calgary remains voracious

Homeownership is becoming increasingly difficult to attain in Calgary, but the city’s rental market is on fire. In fact, the vacancy rate in the Calgary rental market decreased from 6.3% in 2017 to 3.9% last year. “The way this is connected to the rental market is a function of these affordability challenges we’re seeing in the market, and given the pressures put on an individual’s affordability—and we know interest rates are higher—they are renting longer,” said James Cuddy, a senior analyst...

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Canada watches as Ottawa’s carbon tax goes on trial.

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

Canada watches as Ottawa’s carbon tax goes on trial.

A panel of five judges is to listen to arguments from both the Saskatchewan and federal governments as well as from 16 interveners on both sides of the dispute. Saskatchewan opposes the federal government’s plan to force a carbon tax on the province and plans to argue it is unconstitutional because it’s not applied evenly in all jurisdictions. Ottawa says the constitution gives it the power to impose a carbon price because climate change and greenhouse gas emissions are national concerns. The...

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Surplus federal properties earmarked for affordable housing

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

Surplus federal properties earmarked for affordable housing

Communities in Ontario, Quebec, and Newfoundland will be among the first to see surplus federal properties repurposed into new affordable housing. A competitive process for five properties located across three provinces has begun accepting proposals from housing developers to create affordable, sustainable, accessible and socially inclusive housing. The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and  Minister Responsible for Canada Mortgage and Housing...

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Your guide to understanding Doug Ford’s major overhaul of Ontario’s rent control policies

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

Your guide to understanding Doug Ford’s major overhaul of Ontario’s rent control policies

No matter where you fall on the political spectrum, you’ll likely agree that Ontario’s rental market has morphed into something akin to the Wild West. This is especially true in Toronto, where rental prices have been climbing for years, vacancy rates are at an all time low, and the competition for a dwindling number of cheap rentals is fueled by an unaffordable resale market that keeps potential first-time buyers renting. After a summer election that swept the Liberals out after nearly 15...

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Unaffordable Housing Is Hurting Canada’s Job Market

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

Unaffordable Housing Is Hurting Canada’s Job Market

A lack of affordable housing is holding back worker mobility, the Bank of Canada says. A top-ranking official with Canada’s central bank suggests high housing costs are holding the country’s labour market back. Bank of Canada senior deputy governor Carolyn A. Wilkins says investing in employees through training and education, for example, is one way to boost the labour market — but it isn’t the only approach needed. The availability of affordable housing plays an important...

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New supply should be for all, not just the top tier

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

New supply should be for all, not just the top tier

Much attention has been devoted to the feverish pace of housing construction nationwide, although whether this has successfully addressed the problem of supply remains an open question. However, a recent study published by the Housing Policy Debate journal argued that these inventory injections have in the past few years tended towards being valued at market prices, a fact that will still exclude a considerable number of would-be buyers. The report stressed that governments at all levels...

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Trudeau denies report his office interfered in SNC-Lavalin case

Posted in Bylaws / Regulations, Communications, Finance, Legal, Newsworthy

Trudeau denies report his office interfered in SNC-Lavalin case

Justin Trudeau denied a report that members of his staff urged Canada’s former justice minister to intervene in a legal case involving SNC-Lavalin Group Inc. (SNC.TO 0.54%) “Neither the current nor the previous attorney general was ever directed by me or by anyone in my office to take a decision in this matter,’’ the prime minister told reporters Thursday after a transit announcement in Vaughan, north of Toronto. Officials in Trudeau’s office tried to pressure Jody Wilson-Raybould into...

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Rental market braces for influx of tenants

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

Rental market braces for influx of tenants

Rising interest rates and strict mortgage qualification resulted in fewer Canadians seeking homeownership than rental accommodations last year, and 2019 will bring more of the same. “It’s going to continue,” said Marcus & Millichap’s Vice President and Broker of Record Mark Paterson. “People will continue renting rather than dealing with residential mortgages. The rental market right now can barely keep up with the vacancy rate in Toronto, for example, being around 1%.” Competition for...

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