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Legislation

Canada Signals Possible U.S. Trade Deal That Excludes Mexico

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

Canada Signals Possible U.S. Trade Deal That Excludes Mexico

Canada’s government will consider bilateral trade measures during renegotiation of the North American Free Trade Agreement, a sign it could potentially move ahead at least in part without Mexico. The comments from David MacNaughton, Canada’s ambassador to the U.S., suggest Donald Trump’s protectionist pledges are splintering the continental pact as the U.S. leader prepares to meet Mexican President Enrique Pena Nieto late this month. Prime Minister Justin Trudeau’s government arrived in...

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Assessment values for B.C. condos and townhomes rise in double-digit percentages

Posted in Appraisal, Bylaws / Regulations, Communications, Finance, Housing, Legal, Legislation, Newsworthy, Tax Law

Assessment values for B.C. condos and townhomes rise in double-digit percentages

Last month, B.C. Assessment warned owners of “typical” condos and townhomes that their latest assessed property values would increase in the range of 15 to 30 per cent. But for some, the rise captured at mid-2016, is even higher, mirroring trends of between 30 to 50 per cent in the detached home market. A few outliers posted blistering surges of almost 60 per cent. Single-family home prices in Metro Vancouver had already been rising in double-digit percentages when, last January, there were...

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MPAC Multi-Residential Property Assessment Information Sessions

Posted in Association News, Bylaws / Regulations, CMHC, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy

MPAC Multi-Residential Property Assessment Information Sessions

Date and Time: Jan 16, 2017 8:30am to Jan 26, 2017 2:30pm Location: Various Locations (see below)       Recently, MPAC made changes to modernize multi-residential property assessments. While FRPO advocated for and supports these changes, we all recognize the assessment system can be challenging to navigate. To help understand the changes, the data inputs used and the opportunities available to you to minimize your costs and resources, FRPO and MPAC are hosting seven multi-residential property...

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Canada could be headed towards decades of deficits: Finance Department

Posted in Employment, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy

Canada could be headed towards decades of deficits: Finance Department

Jan 5, The Canadian Press   Finance Minister Bill Morneau   OTTAWA — Federal numbers released quietly by the government late last month are painting a bleak picture of Canada’s financial future — one filled with decades of deficits.   The report, published on the Finance Department website two days before Christmas, predicts that barring any policy changes the federal government could be on track to run annual shortfalls until at least 2050-51.   The document says that if...

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Serendipitous Jobs, Trade Data Help Canada Shake Off Doldrums

Posted in Employment, Finance, Housing, Legal, Legislation, Media Releases, Newsworthy

Serendipitous Jobs, Trade Data Help Canada Shake Off Doldrums

by Greg Quinn, @quinngreg More , January‎ ‎6‎, ‎2017‎ ‎12‎:‎51‎ ‎PM Canada is turning the page on the oil crash. From trade numbers to jobs to the stock market, evidence is beginning to mount the commodity producing nation is emerging from a lingering slump, after struggling through a cocktail of hurt that included collapsing oil prices, slow global growth and an aging population. Data released Friday showed the country recorded its best half-year of job gains since 2007. The merchandise trade...

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Four reasons home prices keep soaring in Vancouver and Toronto

Posted in Appraisal, Association News, Broker Sales, Bylaws / Regulations, CMHC, Housing, Industry Trends, Legal, Legislation, Media Releases, Newsworthy, Tax Law

Four reasons home prices keep soaring in Vancouver and Toronto

There are four key reasons housing prices have soared in Vancouver and Toronto over the last two decades, according to a report released by RBC on Friday. And foreign investment is not one of them.   The report estimated that since 1999, home prices in Toronto have increased 162 per cent in Vancouver and 140 per cent in Toronto. There have been many theories as to why this has happened, but according to RBC, there isn’t one singular factor to blame. Here’s a breakdown quantifying the main...

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A look at key Canadian housing measures unveiled in 2016

Posted in Association News, Broker Listings, Broker Listings Atlantic, Broker Listings GTA, Broker Listings Ontario, Broker Listings Quebec, Broker Listings West, Broker Sales, Broker Sales Atlantic, Broker Sales GTA, Broker Sales Ontario, Broker Sales Quebec, Broker Sales West, CMHC, Development, Housing, Industry Trends, Legal, Legislation, Media Releases, Newsworthy, Real Estate Law, Tax Law

A look at key Canadian housing measures unveiled in 2016

It has been a busy year for government intervention into the Canadian real estate market, and not just the hottest Toronto and Vancouver regions as many of the policy changes impact homebuyers across Canada. Below, BNN looks back at the highlights of 2016 Canadian housing policy.   Feb. 15 – Down payment hike – Announced in December of 2015, Ottawa raised the minimum down payment requirement for homebuyers to 5 per cent of the purchase price up to $500,000 and 10 per cent of any amount...

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Trudeau secures national climate plan despite opposition from Saskatchewan, Manitoba

Posted in Bylaws / Regulations, Communications, Finance, Industry Trends, Legal, Legislation, Newsworthy, Utility Management

Trudeau secures national climate plan despite opposition from Saskatchewan, Manitoba

Story by: The Canadian Press Prime Minister Justin Trudeau is claiming victory in his campaign to craft a national “framework” agreement on climate change — even though Saskatchewan and Manitoba remains provincial holdouts. Saskatchewan Premier Brad Wall’s full-throated opposition to the plan, which includes imposing a price on carbon, was fully expected going into today’s day-long first ministers meeting. But surprise resistance from British Columbia’s Christy...

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Inclusionary Zoning Legislation Passes Into Law

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

Inclusionary Zoning Legislation Passes Into Law

The Ontario legislature has passed Bill 7 into law, the Promoting Affordability Act, which includes the enabling provisions to give municipalities the option of requiring affordable housing units as part of new residential developments. While this new legislation does not require Ontario municipalities to require developers to offer rental units, condos, or houses at less than market level, it is expected that some municipalities such as Toronto would give serious consideration to making use...

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Regulatory By-Law for Apartments recommended by Licensing Committee

Posted in Association News, Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legal, Legislation, Newsworthy

Regulatory By-Law for Apartments recommended by Licensing Committee

Story by: GTAA On Wednesday, November 30, 2016 Toronto’s Licensing & Standards Committee approved the staff recommendation to create a new regulatory by-law for rental apartment buildings that requires property owners to: register the building with the City of Toronto and submit required information; have a process for receiving, tracking and responding to tenant repair requests; notify tenants of service disruptions, property standards appeals, work orders and cleaning plan, install...

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