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Newsworthy

WEEK OF JULY 11 2022 NEWSREEL WITH KERRY CHANDLER

Posted in Development, Industry Trends, Newsworthy

WEEK OF JULY 11 2022 NEWSREEL WITH KERRY CHANDLER

Today, development fees, interest rates and our industry – what are the headlines saying

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WEEK OF JULY 4 2022 NEWSREEL WITH KERRY CHANDLER

Posted in Industry Trends, Newsworthy, Rent Control, Vacancy Rates

WEEK OF JULY 4 2022 NEWSREEL WITH KERRY CHANDLER

Today we’re talking  – rent control and vacancy decontrol, the government, advocacy groups and how they hurt both tenants and the industry.

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WHY AFFORDABLE WORKER HOUSING IS THE LATEST HURDLE FOR CANADA’S TOURIST TOWN HOTSPOTS

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy, Vacancy Rates

WHY AFFORDABLE WORKER HOUSING IS THE LATEST HURDLE FOR CANADA’S TOURIST TOWN HOTSPOTS

When he opened Fish & Sips with his wife in 2015, Paul Feather found hiring to be one among many challenges of running a restaurant with long hours on the main drag of Collingwood, Ont. But after the COVID-19 pandemic struck and housing prices in vacation hotspots soared, the cod-and-calamari-slinging 49-year-old saw staffing as his No. 1obstacle, due in no small part to a shortage of affordable places for workers to rent. “It’s the affordability, but also the availability. There isn’t...

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DESPITE HOUSING CRUNCH, ALMOST 20 PER CENT OF ST. JOHN’S UNITS ARE EMPTY

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy, Vacancy Rates

DESPITE HOUSING CRUNCH, ALMOST 20 PER CENT OF ST. JOHN’S UNITS ARE EMPTY

As a shortage of affordable rental housing grips the capital of Newfoundland and Labrador, an anti-homelessness group is calling on the City of St. John’s to fill its vacant public units. Doug Pawson, executive director of End Homelessness St. John’s, says the 80 units sitting empty as of Tuesday — 51 of which need repairs before they can be rented — could have a big impact in the city of about 212,000 people. “Fifty units of public housing that are not available could make a...

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HOUSING SITUATION STILL PRECARIOUS IN MANY QUEBEC REGIONS AHEAD OF MOVING DAY

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy, Vacancy Rates

HOUSING SITUATION STILL PRECARIOUS IN MANY QUEBEC REGIONS AHEAD OF MOVING DAY

Granby resident Marilène Bédard has looked “everywhere” to find an apartment for herself and her two teenage children: Kijiji, Facebook Marketplace, rental sites, word of mouth, and even newspaper ads. But so far, the only available unit she has found is not ready until December, and she hasn’t been able to secure a lease for it yet. Bédard separated from her partner a little more than a month ago, forcing her to find a new place to stay. But the timing of the split has made...

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BLACKSTONE SAYS IT WILL NOT TARGET SINGLE-FAMILY HOMES IN ITS CANADIAN EXPANSION

Posted in Newsworthy

BLACKSTONE SAYS IT WILL NOT TARGET SINGLE-FAMILY HOMES IN ITS CANADIAN EXPANSION

Blackstone Inc. said Monday it has no interest in investing in single-family homes in Canada, laying to rest speculation the giant global asset manager would scoop up hundreds of Canadian houses and turn them into rental properties. After Blackstone announced plans in May to establish a Canadian office in Toronto, rumours abounded that the private equity firm would unleash its firepower, gobble up homes and increase competition for individuals and families looking to buy homes. The typical...

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TORONTO COULD FACE WAVE OF CONDO PROJECT CANCELLATIONS AS COSTS RISE

Posted in Development, Industry Trends, Newsworthy

TORONTO COULD FACE WAVE OF CONDO PROJECT CANCELLATIONS AS COSTS RISE

Toronto housing developers could cancel the construction of up to 5,000 condo units as the costs of borrowing and building soar, according to an analysis by leading condo research group Urbanation Inc. Construction costs have climbed across the country. Putting up a high-rise in Toronto is now 21 per cent more expensive than it was during the same quarter of last year, according to Statistics Canada’s building construction price index. And with the Bank of Canada’s benchmark interest rate...

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JOB VACANCIES IN CANADA SURGE TO NEW HIGH

Posted in Employment, Inflation, Newsworthy

JOB VACANCIES IN CANADA SURGE TO NEW HIGH

The number of job vacancies in Canada surpassed one million, a new record, in April, as the country’s labour market continued to heat up. Here’s what you need to know: Vacancies Statistics Canada on June 24 reported that employers were actively seeking to fill 1,001,100 positions at the beginning of April, a 2.4 per cent increase from March and a nearly 45 per cent increase from a year earlier. A number of sectors across the country had job vacancies rise, with the average vacancy rate, which...

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COUNTY OFFERS GRANTS FOR AFFORDABLE SECONDARY SUITES

Posted in Affordable Housing, Housing, Industry Trends, Newsworthy

COUNTY OFFERS GRANTS FOR AFFORDABLE SECONDARY SUITES

The County of Simcoe reminds residents of its popular secondary suites program, which adds critical affordable rentals across the region. This program provides nearly $1 million in forgivable loans annually across the County of Simcoe to homeowners who wish to create affordable rental secondary suites in their homes or garden suites. “County council is committed to investing in targeted strategies that ensure that our residents are not left behind during times when housing markets become more...

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B.C. POTENTIAL RENT CAP

Posted in Industry Trends, Inflation, Newsworthy, Rent Control, Rental Rates

B.C. POTENTIAL RENT CAP

B.C. landlords big and small dread ‘knockout punch’ of potential rent increase cap With the B.C. government telling CityNews it will consider capping the allowable rent increase for 2023 at a rate below inflation, landlords big and small are voicing their concerns. Jon Stovell is the president of Reliance Properties and the chair of the Urban Development Institute. He calls the prospect of the formula changing to an allowable increase lower than the Consumer Price Index a “knockout...

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