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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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Removing rent control on new units won’t ease Toronto’s housing crisis, tenant and housing experts say

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

Removing rent control on new units won’t ease Toronto’s housing crisis, tenant and housing experts say

The Ontario government’s removal of rent controls on new, previously unoccupied rental units will mean higher housing costs in the future but won’t do much to relieve Toronto’s historically low vacancy rate, at least in the near term, say tenant and housing experts. Starting immediately, rent control rules will no longer apply to buildings and flats being rented for the first time, the Progressive Conservative government announced in an economic statement on Thursday. “Everybody who’s an...

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3 trends expected to define Calgary’s housing market in 2019

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

3 trends expected to define Calgary’s housing market in 2019

With 2018 nearly over, Calgary’s housing market has yet to recover to previous heights, the result of a drawn-out slump resulting from lower oil prices and the knock-on effects that’s had on employment. But how about next year? Ann-Marie Lurie, the Calgary Real Estate Board’s chief economist, suggests the market will continue to face a number of headwinds in the coming year. “The current situation that we’re in is we have an oversupplied market, prices have been trending down, and we just...

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Ontario’s Cap-And-Trade Program Is Officially Dead

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

Ontario’s Cap-And-Trade Program Is Officially Dead

Killing the program was one of Premier Doug Ford’s key election promises. The Ontario government has passed legislation to repeal the province’s cap-and-trade system, putting the final nail in the coffin of a program Premier Doug Ford has long promised to scrap. The bill was introduced in July but the final vote was delayed when an environmental group launched legal action against the government, alleging the province had flouted the province’s Environmental Bill of Rights by...

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Feds Won’t Accept ‘Ridiculous’ Quotas To Replace Steel, Aluminum Tariffs

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

Feds Won’t Accept ‘Ridiculous’ Quotas To Replace Steel, Aluminum Tariffs

The levies did not go away when the USMCA was reached at the 11th hour. Canada is not about to agree to quotas or other limits on its exports in order to get the United States to lift punishing tariffs on steel and aluminum, says a source close to the ongoing talks to resolve the lingering tit-for-tat trade standoff. Where the two sides ultimately end up remains to be seen, but the Canadian source — speaking on condition of anonymity in order to discuss sensitive negotiations — described the...

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From dairy farmers to B.C. wineries, the winners and losers of USMCA

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

From dairy farmers to B.C. wineries, the winners and losers of USMCA

Leaders of Canada and the United States are celebrating the new United States-Mexico-Canada Agreement reached late Sept. 30, with the two sides touting the tentative deal as significant elections in both countries loom. But whether this will be positive for everyone impacted by the pact, which is expected to be signed next month and ratified after all three countries’ lawmakers sign off, remains to be seen. Below, BNN Bloomberg breaks down the expected winners and losers of the new agreement....

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NEW TRADE DEAL REACHED: Canada, U.S. agree to NAFTA replacement that includes Mexico

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

NEW TRADE DEAL REACHED: Canada, U.S. agree to NAFTA replacement that includes Mexico

U.S. President Donald Trump is set to sign a successor to the North American Free Trade Agreement that will make modest revisions to a deal he once called a “disaster,” easing uncertainty for companies reliant on tariff-free commerce. U.S. and Canadian negotiators worked around the clock this weekend to secure an agreement just before a Sunday midnight deadline, allowing leaders from those nations and Mexico to sign the accord by late November. The 24-year-old NAFTA will now be superseded by...

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Yet another Government change to Rent Control Increase for 2019

Posted in Appraisal, Association News, Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Newsworthy, Tax Law, Tenancy Law

Yet another Government change to Rent Control Increase for 2019

The B.C. government is capping rent increases in the province at the rate of inflation, a move that will drastically cut the maximum annual rent hikes that had been allowed under the old formula. The province dropped the automatic two per cent increase in annual rental costs for renters around the province, starting next year. The increase will now be limited to the annual rate of inflation, which now stands at 2.5 per cent. This comes on the heels of recommendations from the Rental Housing...

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Rental Rates In Canada: Ontario Cities Soar By Double Digits As Vancouver Cools Off

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

Rental Rates In Canada: Ontario Cities Soar By Double Digits As Vancouver Cools Off

Ontarians struggling with rising living costs will find little encouragement in the latest rental rates report from rental site Padmapper. Advertised rates for apartments in Toronto have jumped by double digits over the past year, with one-bedroom apartments averaging $2,200 in Padmapper’s September report, up 14 per cent in a year. Two-bedrooms are up 15.6 per cent, to $2,820 on average. Strong rental rate inflation was also seen across many of the Ontario cities covered in the survey,...

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