WHAT IS YIELDSTAR, THE CONTROVERSIAL PRICING SOFTWARE SOME BLAME FOR RISING RENTS
Canadian officials are concerned about YieldStar, a controversial software that recommends rent prices to landlords that is currently the subject of a government lawsuit in the United States. In October, Canadian federal Minister of Innovation, Science and Industry François-Philippe Champagne said the government would launch an investigation into the allegations around price-fixing in the rental market, writing a letter to Competition Bureau commissioner Matthew Boswell. Champagne’s letter...
read moreCANADIAN BUILDING INTENTIONS IMPROVE, BUT INFLATION KILLED REAL GROWTH
Canadians are getting used to spending more and getting less, even when it comes to building permits. Statistics Canada (Stat Can) data shows total building permits made monthly progress in September, nearing new highs in seasonally-adjusted nominal terms. Before getting too excited, this growth was almost exclusively driven by state stimulus which tends to have an inflationary impact. Inflation-adjusted data shows the real dollar value peaked earlier this year and has slid in recent months....
read moreTRUMP ELECTION WIN WREAKS HAVOC WITH RATE-CUT EXPECTATIONS GLOBALLY
Central bankers the world over are gauging whether their worst fears over Donald Trump will come to pass following his resounding return to the U.S. presidency. Trump has promised levies on U.S. imports that would upend global trade, tax cuts that would further stretch the federal budget and deportations that could shrink the pool of cheap labour. That poses two main risks: Slower economic expansion around the world and faster inflation at home that would make the United States Federal...
read moreCANADIAN PERMANENT RESIDENT APPLICATIONS FALL 57%, WEAKEST MONTH IN YEARS
Canada plans to limit permanent resident visas next year, but they’re already plunging lower without restrictions. Immigration, Refugees and Citizenship Canada (IRCC) data shows permanent resident applications made a sharp drop in July. Even if the current trend stops eroding and stabilizes, the country would struggle to hit next year’s planned limits without any policy changes. A problem that policymakers would have been aware of when they decided to make the announcement. Canadian Permanent...
read moreHAPPY DIWALI FROM RHB!
May the light of Diwali shine in your life and bring you peace, prosperity, and happiness. Happy Diwali from RHB!
read moreJUSTIN TAYLOR NAMED CHIEF OPERATIONS OFFICER, SIGNET GROUP INC.
Signet Group Inc. is pleased to announce that Justin Taylor will be joining the firm as Chief Operations Officer, effective October 28, 2024. “Justin will oversee the operations and management of Signet’s commercial and residential portfolios alongside our talented team”, says Gerald Greenberg, President & CFO. Before joining Signet, Justin held the position of COO at Greenrock for over 12 years. Justin’s brings with him over 25 years of senior management experience...
read moreFEDS LAUNCH MORTGAGE REFINANCING PROGRAM TO BOOST SECONDARY SUITES AND EASE HOUSING CRUNCH
Deputy Prime Minister Chrystia Freeland announced that starting January 15, 2025, Canadians will be able to access up to 90% of their home’s value through default-insured mortgage refinancing to build secondary suites. This new program marks a revival of a similar initiative that was discontinued in 2016, when the federal government tightened mortgage insurance rules to cool the overheated housing market. The reintroduction of this option is part of a broader effort to address the current...
read moreONTARIO’S BIG CITIES SAW INVESTORS BUY UP TO 85% OF CONDOS, FUELED BY GOVERNMENT INCENTIVES
Canadian real estate is increasingly being scooped up by investors, and incentives play a large role. That was the take in the latest report from the Canadian Housing Statistics Program (CHSP) at Statistics Canada (Stat Can). The agency’s latest numbers show that up to 85% of condo apartments in Ontario’s ten largest census metropolitan areas (CMAs) were investor-owned in 2022. More surprisingly, the CHSP attributes this boom in part to large, single corporate investors fueled by government...
read moreMANITOBA GOVERNMENT ANNOUNCES $1.2M TO END PAUSE ON RENT TOP-UP PROGRAM FOR LOW-INCOME RESIDENTS
The Manitoba government says it’s spending another $1.2 million to end what it previously called a “temporary pause” on a program that hundreds of people at risk of homelessness count on to pay their rent. The province had in recent weeks paused new applications to the youth and homelessness streams of the Canada-Manitoba Housing Benefit, which it said in a letter issued to some community organizations last month was because of “unprecedented demand” for the...
read moreWHY ARE CITIES LIKE VANCOUVER STILL BANNING APARTMENTS IN MOST AREAS?
Vancouver is the epicentre of B.C.’s housing crisis and shortage. So why does the city still effectively ban new apartment buildings on most of its residential land, reserving it exclusively for low-density housing While there have been small steps toward reforming single-family zoning in Vancouver in recent years, apartments are still not allowed on more than three quarters of the city’s residential land. Much the same is true in other big, expensive cities in British Columbia and across...
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