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Poloz Lays Down Some Markers for Cautious Rate Hikes in Canada

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

Poloz Lays Down Some Markers for Cautious Rate Hikes in Canada

Bank of Canada Governor Stephen Poloz is unapologetic about his cautious approach to raising interest rates. He faces constant criticism for stoking debt accumulation with cheap credit. His reluctance to match higher U.S. rates has fueled a drop in the currency. And now there’s a new challenge: Canada’s inflation is rising at the fastest pace in seven years, while at the same time, the jobless rate is at the lowest in four decades and the expansion is running up against capacity. Even so,...

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Fiscal Monitor shows deficit of $5.6B through first 11 months of 17-18

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

Fiscal Monitor shows deficit of $5.6B through first 11 months of 17-18

The federal government ran a deficit of $5.6 billion through the first 11 months of its 2017-18 fiscal year. The Finance Department’s shortfall for the April 2017 to February 2018 period compares with a deficit of $11.5 billion for the same period the previous year. The government’s spring budget predicted a shortfall of $19.4 billion for its 2017-18 fiscal year. The monthly fiscal monitor report says revenues were up $14.1 billion, or 5.3 per cent, compared with a year ago,...

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Pump prices, airline tickets help propel Canadian inflation to 2.3%

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

Pump prices, airline tickets help propel Canadian inflation to 2.3%

OTTAWA — Canada’s annual inflation rate continued creeping higher last month to hit 2.3 per cent. The March figure from Statistics Canada shows the pace of inflation inched a little farther past the midpoint of the central bank’s ideal range of between one and three per cent. By comparison, inflation was 2.2 per cent in February and 1.7 per cent in January. The annual pace of inflation was the highest since it hit 2.4 per cent in October 2014, just as the oil-price slump was...

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Builders scrap pre-sold Toronto condo towers as costs escalate

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

Builders scrap pre-sold Toronto condo towers as costs escalate

Builders in Toronto’s frenzied condo market are walking away from giant towers they have pre-sold, reflecting a rougher road to profits — and leaving buyers in the lurch. Soaring construction costs and condo values in Canada’s largest city, where prices have surged amid a booming economy and strong immigration, have spurred developers to cancel projects they started when construction was cheaper and pre-sales were less lucrative. Condo prices have increased about 20 per cent since...

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Winners and losers from Ontario’s Fair Housing Plan, one year later

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

Winners and losers from Ontario’s Fair Housing Plan, one year later

It’s been one year since the Ontario Fair Housing Plan changed the rules of the real estate game in the Toronto region, and it’s a dramatically different market 12 months later. Some 40 per cent fewer homes are changing hands year-over-year, according to the latest figures from the Toronto Real Estate Board. And the average Greater Toronto Area home price has slumped 15 per cent from frenzied peak of April 2017. While the year-over-year figure is alarming, the price correction was actually...

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Election Act Changes

Posted in Bylaws / Regulations, Communications, Housing, Industry Trends, Legal, Legislation, Newsworthy, Real Estate Law, Tenancy Law

Election Act Changes

Elections Ontario would like to remind landlords and condominium corporations about changes to the Election Act that allows candidates and canvassers access to multi-unit residential buildings.  Under new legislation, a candidate, or his or her representative, is legally entitled to have access to the common areas of multiple-residence buildings that contain seven or more self-contained units (such as an apartment or condominium) to distribute materials and canvass residents during an...

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CFAA urges Senate to ban home growing

Posted in Bylaws / Regulations, Communications, Fire Safety, Health & Safety, Housing, Industry Trends, Insurance, Interior Building, Legal, Legislation, Newsworthy, Real Estate Law, Tenancy Law, Utility Management

CFAA urges Senate to ban home growing

Yesterday, CFAA made another attempt to prevent home growing of marijuana in rental units, when CFAA President John Dickie appeared at the Senate Standing Committee on Legal and Constitutional Affairs. Rather than focusing on rental buildings, we fell in line with the many groups who want all home growing banned. In particular, we supported the Centre for Addiction and Mental Health (CAMH), who earlier told the committee that “the current bill includes the provision for home growing and...

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Hamilton: Pier 8 Proposal Draws Inspiration from Nature and Heritage

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

Hamilton: Pier 8 Proposal Draws Inspiration from Nature and Heritage

With partnerships and a “small moves, big results” approach, UrbanCapital, Milborne, and Core Urban have teamed up to create a proposal for redevelopment of Hamilton’s Pier 8, one of four now shortlisted as finalists to win a commission to create a landmark community at the west end of Lake Ontario. Collaborating with Saucier + Perrotte, RAW Design, and Public Work, the plan draws inspiration from Hamilton’s natural surroundings and its industrial roots. Partnerships with the Hamilton Public...

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Affordable Housing In Canada In Crisis As Rental Rates Climb, Supply Dwindles

Posted in Bylaws / Regulations, Communications, Health & Safety, Housing, Legislation, Maintenance, Newsworthy, Real Estate Law, Rent Control

Affordable Housing In Canada In Crisis As Rental Rates Climb, Supply Dwindles

VANCOUVER — Joanna Fletcher lives in a one-bedroom apartment on Vancouver’s east side with her 10-year-old son. The building has mice and mould, and her new landlord is threatening eviction. While she has plenty of reasons to leave, Fletcher says she’s fighting to stay for as long as possible because she can’t afford anything else in the area and leaving would mean disrupting her son’s school year. “It’s not just like I can pick up and go, there isn’t...

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5 Skills Millennials Need To Survive Today’s New Economy

Posted in Communications, Employment, Newsworthy

5 Skills Millennials Need To Survive Today’s New Economy

You never know who you might meet in the course of your work day at a part-time job, even if you’re serving coffee. I didn’t wake up one morning and think, “I want a career in insurance.” I fell into my career. Believe it or not, I took first-year insurance at university because I met a guy in the registration lineup and we ended up dating. I thought it would be a “bird course” since my mom worked for an insurance company and she could help me out. Several...

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