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Development

Condo owners make big gains, but nearly half aren’t making enough rent to cover costs

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Newsworthy, Rent Control

Condo owners make big gains, but nearly half aren’t making enough rent to cover costs

About half of the newly completed condos in the GTA last year were bought as rental investments and these investors likely realized a return of about 155 per cent before closing costs Nearly half of all investors who bought condominiums completed in the Toronto area last year aren’t making enough rent to cover their holding costs, despite chalking up exceptional gains on the value of their properties, a new study finds. No less than 44 per cent of investors who took possession of new units in...

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Who are the condo investors in Toronto? A new study sheds some light

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

Who are the condo investors in Toronto? A new study sheds some light

A study, called A Window Into the World of Condo Investors, found that only about 10 per cent of condo investors are international buyers. They are a ghostly presence in Toronto’s property market – the buyers who gobble up the most and best units at developer pre-sales in the towers sprouting across the region. Until now, not much has been known about the largely invisible ranks of condo investors, nearly half of whom feed the region’s vacancy-hungry renters by leasing their properties. But a...

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Are the Liberals really crossing $1-trillion mark on market debt for first time?

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

Are the Liberals really crossing $1-trillion mark on market debt for first time?

“Fact: When Fiscal Year 2018 begins on April 1, 2018, Canada’s market debt will be OVER $1 TRILLION for the first time ever. This is no April Fool’s joke. Justin Trudeau is failing Canadians.” — a Conservative ad posted April 1 on the Twitter page of Tory Leader Andrew Scheer. The Opposition Conservatives have opened up a new line of attack on the Liberals in recent days after media reports said the country’s market debt had eclipsed the $1-trillion mark for...

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Housing speculation risky for British Columbia growth: Finance minister

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

Housing speculation risky for British Columbia growth: Finance minister

British Columbia must diversify its economy away from real estate speculation and the housing market needs to be moderated but the province is not looking at further new measures to cool it, the province’s finance minister said on Friday. “You don’t build a long-term, sustainable economic plan for your province based on speculation in the real estate market,” Carole James told Reuters in an interview. The West Coast province’s New Democratic government in February...

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Ontario Budget 2018 supports portable housing benefits

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

Ontario Budget 2018 supports portable housing benefits

On March 28, Ontario Finance Minister Charles Sousa released the 2018 Ontario Budget, which included a substantial package of pre-election commitments funded by going back into deficit starting the next fiscal year. Of note for rental housing providers, Ontario committed to cost-match the Federal‐Provincial/Territorial Housing Partnership and the Canada Housing Benefit (previously the Investment in Affordable Housing program) under the National Housing Strategy. The NHS includes a Canada-wide...

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Vancouver housing sales slump as market braces for tax impact

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

Vancouver housing sales slump as market braces for tax impact

Home sales slumped 9 per cent last month in the Vancouver region as transactions for detached properties sagged while prices remain high, with the full impact yet to be felt of new residential taxes levied by the B.C. government. In its budget delivered on Feb. 20, the NDP minority government announced a variety of measures designed to reduce home prices, including what it calls a speculation tax imposed on out-of-province residents. The NDP also increased and expanded the province’s...

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RBC chief McKay warns investment capital fleeing Canada in ‘real time’

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

RBC chief McKay warns investment capital fleeing Canada in ‘real time’

OTTAWA — The head of one of Canada’s largest banks is urging the federal government to stem the flow of investment capital from this country to the United States — because, he warns, it’s already leaving in “real time.” RBC president and CEO Dave McKay discussed some of his biggest concerns about Canadian competitiveness, particularly those related to recent U.S. tax reforms, during a recent interview. Ottawa has come under pressure from corporate Canada to...

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Lakeview lands sold to developers for $275M

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

Lakeview lands sold to developers for $275M

No details on when the 177-acre site on the Mississauga waterfront will become a mixed-use residential, commercial community. The Lakeview lands in Mississauga have officially been sold to developers for $275 million in the latest step toward the transformation of the city’s waterfront. The 177-acre site, formerly a provincial coal-fired generating station, will be transformed into a sustainable, mixed-use residential community by Lakeview Community Partners, a consortium that includes Argo...

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Top Bank of Canada Deputy Says Rates Are a Blunt Tool for Financial Risks

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

Top Bank of Canada Deputy Says Rates Are a Blunt Tool for Financial Risks

The Bank of Canada’s ability to counter financial stability risks is limited, and policy makers need to do more to strengthen other available tools to combat problems such as high household debt, the central bank’s No. 2 official said. In a speech at a conference about the 2008 financial crisis, Senior Deputy Governor Carolyn Wilkins cited three areas of “unfinished business” that need to be tackled in order to ensure the durability of reforms that have taken place over the past 10 years. One...

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CFAA Rental Housing Conference – Executive Roundtable now set

Posted in Association News, Bylaws / Regulations, CMHC, Communications, Development, Employment, Events, Finance, Housing, Industry Trends, Interior Building, Legal, Legislation, Maintenance, Marketing, Newsworthy, Professional Services, Real Estate Law, Rent Control, Senior Housing, Student Housing, Tax Law, Technology, Tenancy Law

CFAA Rental Housing Conference – Executive Roundtable now set

Join CFAA and landlords from across Canada in Vancouver this May 14 to 16. Hear what other rental housing leaders think is The Future of the Rental Housing Industry. Find out how other companies are solving new problems and seizing opportunities. Early registration closes this week! Book by Thursday, March 29 to save! Read on, or visit www.CFAA-RHC.ca for more information or to register! Education Sessions Sessions include: Economic Update – by keynote speaker Benjamin Tal Deputy Chief...

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