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Housing

WHAT’S IN THE NDP’S NEW HOUSING POLICY

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy

WHAT’S IN THE NDP’S NEW HOUSING POLICY

The New Democrats are the official opposition party at Queen’s Park, with 40 MPPs to the Progressive Conservatives’ 72. They’d like to do better than that in the next provincial election (currently scheduled for 2022), and they’re starting to give voters a better sense of what an NDP government would have to offer. The party has already released a long-term-care policy that will make up part of its platform, and on Monday it released a housing policy to go with it. “We believe housing is a...

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A FIX FOR TORONTO’S HOUSING CRISIS COULD BE HIDING IN PLAIN SIGHT

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy, Rental Rates, Vacancy Rates

A FIX FOR TORONTO’S HOUSING CRISIS COULD BE HIDING IN PLAIN SIGHT

Across Toronto and the wider region, up to 176,000 new units could be added to rental sites to meet crushing demand. These 950 infill sites are already purchased and zoned — there is simply room and an opportunity to add more. A recent rental market study projects a shortage of up to 200,000 rental units in the Toronto and the Greater Hamilton Area (GTHA) within a decade, a trend that has been pushing vacancies low and prices high. But with a global pandemic blunting travel, immigration,...

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INVESTMENT PROPERTY OWNERS ASSOCIATION SAYS RENT CONTROL DOESN’T WORK

Posted in Affordable Housing, Association News, Housing, Industry Trends, Newsworthy, Rent Control

INVESTMENT PROPERTY OWNERS ASSOCIATION SAYS RENT CONTROL DOESN’T WORK

The Investment Property Owners Association of Nova Scotia says rent control is not the solution to HRM’s lack of affordable housing. Kevin Russell is the group’s executive director, and tells News 95.7’s the Todd Veinotte Show, research around the world shows rent control doesn’t work. “It stifles investment in investment properties for residential units… and when rent control is in a jurisdiction investors pull out and move to another jurisdiction and this...

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SAINT JOHN TENANTS NERVOUS ABOUT HISTORICAL REAL ESTATE DEAL

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy, Rental Rates

SAINT JOHN TENANTS NERVOUS ABOUT HISTORICAL REAL ESTATE DEAL

A major real estate transaction in uptown Saint John has many tenants concerned. Hazen Property Investments has sold 20 of its buildings to Historica Developments. They include the McArthur on Germain Street and another 12-unit building on the west side to name just a couple. “My gut feeling was anxiety — stress,” said Jeff Arbeau, who has been renting from Hazen for years. Hazen is known for good-quality units at reasonable prices. Historica is known for fixing up older buildings...

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PRIVATE INVESTORS HELP GROUP SAVE AFFORDABLE HOUSING IN PARKDALE

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

PRIVATE INVESTORS HELP GROUP SAVE AFFORDABLE HOUSING IN PARKDALE

A Parkdale land trust has added some private financial muscle to its efforts to preserve affordable rental housing against intense gentrification pressures. In a deal announced Oct. 26, the Parkdale Neighbourhood Land Trust has partnered with the Vancity Community Investment Bank in a new program that will empower the land trust to quickly acquire at-risk affordable rental buildings in Parkdale. The Preserve and Protect Guarantee Program will give the land trust the ability to purchase rental...

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ALMOST 2600 THUNDER BAY TENANTS WILL GET TO PAY LOWER RENT IN 2021

Posted in Housing, Industry Trends, Newsworthy, Rental Rates

ALMOST 2600 THUNDER BAY TENANTS WILL GET TO PAY LOWER RENT IN 2021

Some Thunder Bay tenants have gotten good news from city staff in recent weeks: they are eligible for a rent reduction starting in January 2021. Section 131 of Ontario’s Residential Tenancies Act says tenants are entitled to an automatic reduction in their rent when their landlord’s property taxes decrease by at least 2.49 per cent from one year to the next. Kathleen Cannon, the director of revenue for the City of Thunder Bay, said almost 2600 notices have been sent out to tenants...

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APARTMENT RENTS ARE PLUNGING IN THE WORLD’S RICHEST CITIES

Posted in Coronavirus, Housing, Industry Trends, Newsworthy, Rental Rates

APARTMENT RENTS ARE PLUNGING IN THE WORLD’S RICHEST CITIES

In the world’s big financial centres — from New York to Toronto to London to Sydney — rents for inner-city apartments are plunging. International students who normally bolster demand are stuck at home and young renters — the most mobile group in real estate — are finding fewer reasons to pay a premium to live in what is, for now, no longer the centre of things. “You’re daft if you aren’t negotiating lower rent right now,” said Tim Lawless, Asia-Pacific head of...

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IN BARRIE’S ‘RED-HOT’ HOUSING MARKET, MOST SECOND SUITES ARE NOT ‘AFFORDABLE’

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy, Rental Rates

IN BARRIE’S ‘RED-HOT’ HOUSING MARKET, MOST SECOND SUITES ARE NOT ‘AFFORDABLE’

Barrie’s growing need for affordable housing will not be solved solely by the second-suite market, says Mayor Jeff Lehman. “The issue is that most second suites are not renting at a price that is helping those in severe housing need, where the need is often most serious,” he told BarrieToday. “At this point, I think we need to turn our attention to those in deepest need by focusing on building more supportive housing, and/or public housing.” Lehman says there are several proposals by charities...

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CHAMBER OF COMMERCE PROPOSES PARTNERSHIP TO CREATE MORE AFFORDABLE HOUSING IN GRANDE PRAIRIE

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy, Rental Rates

CHAMBER OF COMMERCE PROPOSES PARTNERSHIP TO CREATE MORE AFFORDABLE HOUSING IN GRANDE PRAIRIE

The Grande Prairie and District Chamber of Commerce has presented a potential plan to the City of Grande Prairie which could help provide more affordable housing opportunities to those in need. During Tuesday’s Protective and Social Services Committee Meeting, the Chamber proposed creating a Public-Private Partnership that would see the City invest in private industries and lease out rental units.The plan, as proposed, would have the City pay an advanced monetary sum, and then enter into...

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WINDSOR’S HOUSING MARKET IS THE HOTTEST IN CANADA

Posted in Coronavirus, Housing, Industry Trends, Newsworthy

WINDSOR’S HOUSING MARKET IS THE HOTTEST IN CANADA

Windor’s real estate market is the hottest in Canada, with housing prices increasing 17 per cent in the third quarter of 2020. The new Royal LePage Housing Price Survey shows the average home price for any type of housing in Canada sits at about $692,000. Although Windsor is far below that at an average of $325,000 across all types of housing, experts say the city is growing fast. “Windsor is catching up with other cities in southern Ontario,” said Windsor mortgage broker...

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