LANDLORDS REMOVING UNITS FROM RENT SUBSIDY PROGRAM, CITING INCREASED OPERATING COSTS
A senior civil servant in the New Brunswick Housing Corporation says his office is looking into an increased trend in landlords taking units off the corporation’s rent subsidy program. Gregory Forestell, the corporation’s vice-president of housing programs, says landlords are opting out of the rent subsidy program as early as five years after entering into agreements with the provincial body. “They’re seeing the opportunity to see a better return on their...
read moreALBERTA GOVERNMENT HAS ‘DEEP CONCERNS’ ABOUT FEDERAL HOUSING ANNOUNCEMENT
The Alberta government says it has “deep concerns” and not enough information about a $6-billion federal housing announcement made Tuesday morning. Prime Minister Justin Trudeau made the announcement while he was in Dartmouth, N.S., as part of the government’s pre-budget tour. Trudeau says while the fund will help address the housing shortage plaguing Canadians, provinces and territories have to adopt certain housing policies in order to access it. The offices of Jason Nixon, Minister of...
read moreTRUDEAU ISN’T INTERESTED IN BEING THE PM, HE WANTS TO BE PREMIER
I really don’t know why Justin Trudeau doesn’t step down as prime minister of Canada and run to be premier of Quebec. Based on his policy priorities, this is clearly the level of government that he should be in. Over the past several years, Trudeau has introduced childcare programs, pharmacare, dental care, and now he’s talking about a renter’s bill of rights.To accomplish this goal, like all the other programs, Trudeau will need to negotiate with the provinces and territories. Anything to do...
read moreN.S. GOVERNMENT EXTENDS REGISTRATION DEADLINE FOR SHORT-TERM RENTALS
Airbnb operators and other short-term rentals in Nova Scotia are being handed a break by the Houston government. The Tourist Accommodations Registration Act came into effect in April 2020 requiring accommodations with 28 days or less rent to register each year. Starting last April, short-term accommodations within a host’s primary residence like Airbnb were added to the act. According to a release, the province extended registration today until September to allow “visitors and hosts more time...
read moreMONTREAL REVAMPS SOCIAL HOUSING BYLAW, AIMS TO GET MORE DEVELOPERS ON BOARD
In 2021, a bylaw took effect with the goal of forcing Montreal developers to include social, family and affordable housing in their projects. Nearly three years later, and with many questions swirling about the effectiveness of that bylaw, the city is revamping its rules and being more lenient with developers. Benoit Dorais, the vice-president of Montreal’s executive committee who is in charge of the housing file, said the bylaw, which is called the Règlement pour une métropole...
read moreTWO FORMER SAINT JOHN SCHOOLS TO BE TURNED INTO MORE THAN 100 APARTMENTS
After remaining tight-lipped for months about plans for two former Saint John school buildings, a Fredericton-based developer is now revealing details. Erik de Jong, president of City Line Holdings, said the schools represent about a third of the roughly 340 new housing units planned for Saint John in the coming years. City Line bought the former St. Patrick’s School, on the city’s west side, and the former St. Vincent’s High School, on Cliff Street in the shadow of St....
read more‘BOTTOM STILL ISN’T FALLING OUT OF THE ECONOMY’: WHAT ECONOMISTS MAKE OF THE GDP DATA
The Canadian economy hung tough in the final quarter of last year, expanding one per cent on annualized basis after contracting in the third quarter, Statistics Canada said on Feb. 29. Here’s what economists are saying the latest gross domestic product numbers could mean for inflation and interest rates. ‘Sea of red’: Douglas Porter, BMO Economics Setting aside the increase in exports and consumer consumption, the fourth quarter was mostly “a sea of red,” said Douglas Porter, chief economist...
read moreRENTERS TO TARGET MPP MICHAEL FORD’S OFFICE IN PUSH FOR STRICTER RENT CONTROLS
Toronto tenants’ advocates are gearing up for a rally Wednesday outside the constituency office of Michael Ford, Progressive Conservative MPP and Premier Doug Ford’s nephew. It’s one of eight demonstrations that ACORN, a tenants’ rights group, has planned for Feb. 21, outside the offices of PC MPPs across the province. They’re pushing for stricter new rent control guidelines that they say are necessary in the face of unprecedented pressures on renters in Ontario....
read moreBANK OF CANADA’S INFLATION ‘BUFFET’ MUDDIES TIMING OF CUTS
The Bank of Canada says it’s watching core inflation closely as it weighs when to cut rates, but a mixed bag of measures gives it options on timing and clouds the outlook for markets and economists. The central bank has no less than six indexes it monitors to get a grasp on underlying price pressures. Governor Tiff Macklem has pushed back against focus on a specific indicator, describing core inflation as more of a “concept.” While that reflects the bank’s need for certainty before declaring...
read moreINCREASING INFLATION TO A GROWING POPULATION, EDMONTON’S RENTAL MARKET IS UNDER PRESSURE
Edmonton’s steadily rising population is coming head-to-head with a strained housing market, in which the cost of buying a home has become too high and the supply of rental units has hit its lowest point in a decade. The pressure of high mortgage rates and inflation have caused a shift in demand from buying a home to renting. And the demand for rentals is expected to surpass new supply, according to David Dale-Johnson, executive professor of real estate at the University of...
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