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Legislation

In scathing pre-election report, Ontario auditor general says deficit is $11.7B, not $6.7B

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

In scathing pre-election report, Ontario auditor general says deficit is $11.7B, not $6.7B

Ontario’s fiscal watchdog is warning that the province’s deficit projections are billions of dollars more than disclosed in last month’s budget. Auditor General Bonnie Lysyk, who is in an ongoing accounting dispute with Premier Kathleen Wynne’s Liberals, said this year’s shortfall is $11.7 billion, not $6.7 billion, as Finance Minister Charles Sousa forecast March 28. “When expenses are understated, the perception is created that government has more money available than it actually does,”...

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Average vacancy rate across Canada decreases to 2.4%

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

Average vacancy rate across Canada decreases to 2.4%

According to CMHC, the average rental vacancy rate in major centres across Canada decreased from 3.0% in October 2017 to 2.4% in October 2018. Vacancy rates declined in Quebec, Alberta, Saskatchewan and the Atlantic provinces, while increasing by various amounts in centres in Ontario, British Columbia and Manitoba. CFAA President, John Dickie, says, “Despite low vacancy rates, the turnover rates show that there is adequate access to rental housing in some form in almost all centres, but more...

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Bitter lawsuit between wealthy developers reveals delays, downsizing of Yaletown affordable housing plan was inevitable

Posted in Appraisal, Bylaws / Regulations, Communications, Development, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy, Rent Control, Tenancy Law

Bitter lawsuit between wealthy developers reveals delays, downsizing of Yaletown affordable housing plan was inevitable

Thirty years ago, a deal between the provincial government and a private developer earmarked six large lots in Yaletown for affordable housing. Several weeks ago, the city announced affordable housing would be built on just three of the lots. Two business tycoons waged a little-known and vicious battle in and out of B.C. court over six empty Yaletown lots, assessed at a pittance because for three decades they have been designated for affordable housing. The high-stakes feud quietly escalated...

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Average vacancy rate across Canada decreases to 2.4%

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

Average vacancy rate across Canada decreases to 2.4%

Average vacancy rate across Canada decreases to 2.4% According to CMHC, the average rental vacancy rate in major centres across Canada decreased from 3.0% in October 2017 to 2.4% in October 2018. Vacancy rates declined in Quebec, Alberta, Saskatchewan and the Atlantic provinces, while increasing by various amounts in centres in Ontario, British Columbia and Manitoba. CFAA President, John Dickie, says, “Despite low vacancy rates, the turnover rates show that there is adequate access to rental...

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Vancouver project promises 6 decades of affordability

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

Vancouver project promises 6 decades of affordability

In its announcement earlier this week, the CMHC introduced the latest project to benefit from its Rental Construction Financing initiative: Conrad by Cressey Development in Vancouver. The $40.2-million investment will ensure a prolonged haven of affordability for the city’s struggling middle-class families. “Over 60% of the units will have rents at or lower than 30% of median household income in the area and, under an agreement with the City of Vancouver, this affordability will be maintained...

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CFAA OPEN CALL: Federal money for building retrofits


Posted in Association News, Bylaws / Regulations, Communications, Development, Events, Finance, Housing, Industry Trends, Legislation, Maintenance, Newsworthy, Professional Services, Restoration, Retrofit, Suite Renovations

CFAA OPEN CALL: Federal money for building retrofits


CFAA is lobbying the federal government to loosen the strings on retrofit grants and loans. Tell us what would lead you to take up the money! Email admin@cfaa-fcapi.org to tell us if you (or someone from your company) can attend a telephone conference call at any or all of these dates and times: Tuesday, December 4          2 to 3pm EST Thursday, December 6        11:30 to 12:30 EST Thursday, December 6        2 to 3pm EST We will fix one or two of those times for the call(s). Before the...

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Which neighbourhoods have seen large spikes in rent? The Star mapped 5 years of rental data in 15 Canadian municipalities

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

Which neighbourhoods have seen large spikes in rent? The Star mapped 5 years of rental data in 15 Canadian municipalities

A conversation about housing has to start with numbers. Whether you’re a tenant struggling to find a home or a government crafting new policy during a nationwide housing crisis, you need to have a grip on good data. The hunt for rental housing, particularly in Toronto and Vancouver, has become increasingly competitive and confusing as the number of people looking to live in cities continues to outpace what is actually being built. “Renters going to shop for a place to rent have almost no...

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Montreal housing market continues hot streak to 2020

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

Montreal housing market continues hot streak to 2020

Continued economic growth will drive Montreal’s housing upswing to 2020, according to the latest Housing Market Outlook report from the Canada Mortgage and Housing Corporation (CMHC). The report also forecasts that the Montreal construction boom will continue its growth, with new projects coming off the ground in the next few months. “In the condominium segment, construction will increase thanks to a steady demand supported by employment growth and also to significantly lower inventories of...

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Toronto apartment inventory having trouble catching up with demand

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

Toronto apartment inventory having trouble catching up with demand

Toronto’s apartment segment is experiencing a healthy infusion of new supply, but a new analysis by Marcus & Millichap indicated that the rate of addition is not proving enough to address the inflamed levels of demand for the city’s residential spaces. The Toronto Multifamily Spotlight report for November 2018 stated that the first 3 quarters of 2018 saw the addition of 2,500 new apartments, putting the delivery rate on track to reach the highest level since 1994. However, elevated prices...

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In Morneau’s fall update, corporate Canada awaits competitiveness plan

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

In Morneau’s fall update, corporate Canada awaits competitiveness plan

Competitiveness. If there’s been a single issue for Canadian business leaders to rally around this year it’s that one – and more specifically losing their competitive advantage with our largest trading partner, the United States. As U.S. President Donald Trump’s administration slashed the corporate tax rate from 35 to 21 per cent and accelerated how quickly U.S. companies can write-off most equipment, attention turned to Ottawa for a strategic response from Justin Trudeau’s Liberal government....

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