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Industry Trends

CO-OP HOUSING COULD HELP SOLVE CANADA’S AFFORDABILITY CRISIS, ADVOCATES SAY

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy

CO-OP HOUSING COULD HELP SOLVE CANADA’S AFFORDABILITY CRISIS, ADVOCATES SAY

Ayanna Inniss believes the co-op motion could be a part of the answer to this nation’s housing affordability disaster. The Edmonton-area lady nonetheless remembers the “soul destroying” expertise of in search of reasonably priced housing 20 years in the past, earlier than she moved into the Brittany Lane Housing Co-op within the bed room group of Sherwood Park, Alta. Newly separated on the time and cash-strapped, Inniss stated she visited one run-down residence constructing after one other in...

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HOUSING GROUPS ARE CAMPAIGNING HARD IN LEAD-UP TO ELECTION, INCLUDING ON YOUR SOCIAL FEED

Posted in Housing, Industry Trends, Newsworthy, Politics

HOUSING GROUPS ARE CAMPAIGNING HARD IN LEAD-UP TO ELECTION, INCLUDING ON YOUR SOCIAL FEED

Over the next few weeks, Ontarians may see someone they follow on Instagram, posting their pledge to “Vote4Housing.” They might hear from their realtor about how the land transfer tax rebate for first-time buyers should be doubled. Candidates running in the provincial election could receive emails from voters in their riding, asking them to explain what they’re going to do to increase housing supply. This is third-party campaigning in 2022, and Ontario has a handful of registered groups in the...

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WEEK OF MAY 9 2022 NEWSREEL WITH KERRY CHANDLER

Posted in Industry Trends, Politics

WEEK OF MAY 9 2022 NEWSREEL WITH KERRY CHANDLER

Ontario is in election mode and we review what the parties are promising.

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CANADA’S UNITED CHURCH TO TURN CHURCHES INTO RENTAL HOMES FOR 34,000 PEOPLE

Posted in Industry Trends, Newsworthy

CANADA’S UNITED CHURCH TO TURN CHURCHES INTO RENTAL HOMES FOR 34,000 PEOPLE

If all goes as planned over the next 15 years, as many as 34,000 people could be housed in the United Church of Canada’s church properties across the country through its redevelopment into mixed-use buildings with rental housing and new replacement congregation spaces. The church will tap into its nationwide portfolio of properties in both larger urban areas and smaller communities, according to the announcement made in a news release earlier this week. To implement the strategy, Kindred...

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CANADA’S REAL ESTATE BUBBLE WON’T BE PROTECTED BY POPULATION GROWTH

Posted in Industry Trends, Newsworthy

CANADA’S REAL ESTATE BUBBLE WON’T BE PROTECTED BY POPULATION GROWTH

Canadian real estate prices won’t correct due to population growth, right? Well, BMO Capital Markets shared a different take with institutions this morning. The bank explains there is no historical evidence to support this narrative. During the last significant home price crash, Canada saw its population grow at a faster rate. They warn interest rates have a far greater influence on home prices than population. Demand For Homes Has Plummeted Despite The Population Boom Despite booming...

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HUDSON’S BAY DONATES WINNIPEG STORE TO FIRST NATIONS FOR AFFORDABLE HOUSING

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy

HUDSON’S BAY DONATES WINNIPEG STORE TO FIRST NATIONS FOR AFFORDABLE HOUSING

In a watershed move, Hudson’s Bay Company (HBC) will donate its former flagship department store building in downtown Winnipeg to local First Nations. Under the ownership of the Southern Chiefs’ Organization (SCO), which represents Manitoba’s 34 southern First Nations communities, the building will be redeveloped with a wide range of mixed uses benefiting Indigenous people, while also providing some new life for the city centre. The 1923-built, six-storey department store spans 655,000 sq ft...

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WINDSOR MOVES AHEAD WITH 2-YEAR RENTAL UNIT LICENSING PILOT PROJECT

Posted in Industry Trends, Landlord and Tenant Board, Newsworthy, Student Housing

WINDSOR MOVES AHEAD WITH 2-YEAR RENTAL UNIT LICENSING PILOT PROJECT

Windsor city council is moving ahead with a pilot project that will see rental homes licensed in some parts of the city in the hopes of protecting tenants from unsafe conditions. Under the project, rental properties with up to four units must be inspected to ensure they meet standards like the ones set out in the building and fire codes. The pilot will last two years and will only be taking place in Ward 1 and 2, where there is a high concentration of student housing. A motion giving the green...

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SOME NEW LANDLORD ARE LOSING MONEY. WITH RATES RISING, TENANTS COULD SEE RENT HIKES

Posted in Industry Trends, Newsworthy, Rental Rates

SOME NEW LANDLORD ARE LOSING MONEY. WITH RATES RISING, TENANTS COULD SEE RENT HIKES

As high as Toronto and Vancouver rents may seem to local tenants, landlords are often losing money on them. In recent years, many mom-and-pop real estate investors in the two cities have been quietly paying more in mortgage and other ownership costs than they receive in rent, trusting they’d eventually sell at a profit thanks to rapidly rising home values, experts say. But as interest rates shoot up and price growth slows, some highly indebted landlords are beginning to feel the squeeze more...

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TIFF MACKLEM ACKNOWLEDGES MISJUDGING INFLATION, PLEDGES TO ACT ‘FORCEFULLY’ TO BRING IT DOWN

Posted in Coronavirus, Employment, Finance, Industry Trends, Inflation, Newsworthy

TIFF MACKLEM ACKNOWLEDGES MISJUDGING INFLATION, PLEDGES TO ACT ‘FORCEFULLY’ TO BRING IT DOWN

Bank of Canada Governor Tiff Macklem acknowledged he and his lieutenants misjudged the strength of inflation at the start of the year, and pledged to act “as forcefully as needed” to make up for the mistake. “(We’re coming) out of the deepest recession we’ve ever had,” Macklem said during testimony at the Senate banking committee late on April 27. “We got a lot of things right. We got some things wrong, and we are adjusting.” To the surprise of many on Bay Street, the Bank of Canada opted...

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WEEK OF MAY 2 2022 NEWSREEL WITH KERRY CHANDLER

Posted in Industry Trends, Newsworthy

WEEK OF MAY 2 2022 NEWSREEL WITH KERRY CHANDLER

Apartment, row house growth outpaces single-detached homes: census

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