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ELECTION: How the parties’ housing promises stack up (VIDEO)

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

ELECTION: How the parties’ housing promises stack up (VIDEO)

Housing has emerged as a hot-button topic in the federal election campaign, with party leaders unleashing a slew of headline-grabbing promises over the last few weeks.   The so-called B-20 mortgage stress test, an incentive aimed at helping first-time buyers, and an update to the RRSP Home Buyers’ Plan are among measures that have been introduced since the current Liberal government came into power in 2015. But affordability is still top of mind in the lead-up to the Oct. 21 vote, especially...

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Soaring rents and house prices in Canadian cities make housing a key election issue

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

Soaring rents and house prices in Canadian cities make housing a key election issue

Federal parties roll out their strategies to help urban Canadians keep housing costs in check. Jeff Gallant lived in his new home just 17 days before the For Sale sign went up. Soon after the single dad rented the house, it was sold and the new owners sent him notice of a major renovation that would force Gallant and his two young children to leave. A similar thing occurred at his previous place, and it’s happening to so many renters in Charlottetown that a new term has been born:...

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Foreign Investors Ramp Up Multifamily Acquisitions

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

Foreign Investors Ramp Up Multifamily Acquisitions

Even as the overall volume of cross-border investment in U.S. real estate slows down, apartment properties remain popular with foreign buyers. Foreign investors continue to spend money on apartment properties in the U.S., even while they may be slowing down on purchases of assets in other sectors. In the second quarter, cross-border investors became net sellers of U.S. commercial real estate overall for the first time in seven years, according to Jim Costello, senior vice president with...

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Vancouver rental apartment building sell-off a sign of unsettled industry

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

Vancouver rental apartment building sell-off a sign of unsettled industry

If you’ve ever thought about buying an apartment building in Metro Vancouver, you’re currently spoiled for choice. A surge of listings has hit the market in recent months, with one commercial real estate group listing 18 multi-unit properties worth nearly a quarter of a billion dollars. Mark Goodman of Goodman Commercial,  the company listing those properties, says government policies are squeezing some owners, and actually hurting the rental market. Goodman points to rent control policies as...

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Toronto set for record apartment surge after rent control lifted

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

Toronto set for record apartment surge after rent control lifted

Toronto’s apartment crunch is finally easing as new supply hits the market and the removal of rent controls leads to record units on the drawing board, according to a new report. The vacancy rate rose to 1.5 per cent in the second quarter, the highest since 2015, when research firm Urbanation began tracking the data. Rent increases eased to 7.6 per cent from 10.3 per cent last year, bringing the cost of an average-sized unit of 794 square feet to $2,475 ($1,894). Conditions eased as nine...

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Lower rates giving Canadian housing ‘nine lives’: CIBC’s Tal

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

Lower rates giving Canadian housing ‘nine lives’: CIBC’s Tal

If the Canadian housing market had a spirit animal, a cat could be fitting. Benjamin Tal, deputy chief economist of CIBC Capital Markets, says global and domestic developments that have led to lower interest rates have continually buoyed Canadian housing at times when it was poised to soften. “The housing market has nine lives. Every time it’s supposed to slow down, something bad happens elsewhere that keeps interest rates low and the party’s still going,” Tal told BNN Bloomberg in a Friday...

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Mississauga Fifth Most Expensive City for Rentals in Canada

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

Mississauga Fifth Most Expensive City for Rentals in Canada

If you’re looking for an apartment in Mississauga, you might be disappointed to hear that prices haven’t dipped over the past month and that two-bedroom units have actually gotten a little more expensive (which isn’t great news for families looking for more spacious units).  But it does look like affordability is increasing a little across the country.  The recently-released Rentals.ca September 2019 Rent Report, produced by Rentals.ca and Bullpen Research & Consulting,...

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Calgary housing demand focused on apartments, multi-unit homes

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

Calgary housing demand focused on apartments, multi-unit homes

Apartments and multi-unit housing were the most in-demand asset classes in Calgary last month, according to the city’s real estate board. The relative affordability of these property types was a major motivator of this trend, CREB chief economist Ann-Marie Lurie stated. “Product priced under $500,000 — those sales have actually increased by over 7% on a year-to-date basis,” Lurie told CBC News. “Whereas in the over $500,000 market, sales have actually declined by 13%.” The residential...

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Rental rates in Canada up 8% this year for all property types

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

Rental rates in Canada up 8% this year for all property types

Toronto and Ontario priciest city, province for renters, according to report . The average rental rates declined in Canada the second month in a row after two straight months of increases, according to the September National Rent Report produced by Rentals.ca and Bullpen Research & Consulting. Even though August is one of the busiest months for moving in Canada,  that didn’t result in an increase in rental rates month over month, as the average rent for all property types on Rentals.ca...

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Boardwalk REIT reports second-quarter growth and a new landmark development with RioCan REIT

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

Boardwalk REIT reports second-quarter growth and a new landmark development with RioCan REIT

Boardwalk Real Estate Investment Trust (“Boardwalk”, the “REIT” or the “Trust”) announced its financial results for the second quarter and first six months of 2019. “We are pleased to report and deliver on a solid second quarter and first half of 2019 with growth in Funds From Operation (“FFO”) per unit of 13.3% and 14.8% respectively. This performance is a result of our team’s commitment to the best product quality, service and experience, and has allowed the Trust to...

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