RISING INTEREST RATES, LOW HOUSING SUPPLY IN STORE FOR CANADA IN 2022: REPORT
After nearly two years of historic lows, aspiring Canadian homeowners will have to keep an eye out for rising interest rates in 2022. A recently released report from real estate agency Zoocasa outlined five major predictions that Canadians should anticipate in 2022 — including rising interest rates. As to be expected as we continue to move through the pandemic, there will be some less-than-exciting changes coming to the real estate market. But unfortunately, when it comes to the aspects of the...
read moreCANADIAN REAL ESTATE PROVIDED OVER 10% OF GDP GROWTH
Canadian real estate’s economic contribution was slowing, but it’s back with a vengeance. Gross domestic product (GDP) made a big jump in October, with real estate doing a lot of the heavy lifting. A component, real estate and rental and leasing (RERL) provided over a tenth of the monthly GDP increase. RERL showed the biggest growth since last year. Canadian Real Estate Rental And Leasing Canadian real estate significantly boosted the economy’s growth last month. In October, the RERL sector...
read moreA YEAR IN REVIEW WITH RHBTV CONTINUED
As another year ends, we wanted to look back at some of our favourite interviews. This year we concentrated on bringing you relevant and timely news and on many occasions we were the industry’s source for – a new product – new service – new technology plus some exclusive announcements. Here is your sneak peak of Part 2:...
read moreONTARIO RAISES MAXIMUM ALLOWABLE RENT INCREASE AS RENT FREEZES END
Ontario renters may soon be paying more for their accommodations after the province hiked its rent increase guidelines today. The province says it has set its rent increase guideline for 2022 at 1.2 per cent. The guideline is the maximum a landlord can increase a tenants’ rent during a year without the approval of the Landlord and Tenant Board. The guidelines apply to most rented apartments, condos, houses and care and mobile homes, but there are some exceptions for vacant residential units,...
read moreCALGARY REAL ESTATE MOGUL NAVJEET (BOB) SINGH DHILLON AMONG FOUR SOUTH ASIANS APPOINTED TO THE ORDER OF CANADA
Navjeet (Bob) Singh Dhillon, Calgary real estate mogul who is President/Founder and CEO of Mainstreet Equity Corp, has been appointed an Officer to the Order of Canada “for his achievements in business, and for his unwavering commitment to philanthropy and higher education.” Dhillon made Mainstreet the first Sikh-owned company listed on the Toronto Stock Exchange. His company acquires underperforming assets (low rent rental-apartments), clusters them into apartment complexes, and upgrades them...
read moreHAPPY NEW YEAR FROM RHB!
From all of us at RHB, we wish you a Happy, Safe and Prosperous New Year. We look forward to being your one stop source for industry news through all our platforms – RHB Magazine, theANNUAL, RHBTV, RHB Online Directory and RHB Newsreel.
read moreCANADA NEEDS A LOT MORE RENTAL HOUSING. VANCOUVER IS LEADING THE WAY – VERY SLOWLY
The majority of Vancouver’s households are renters. The shift has taken place in recent years amid skyrocketing housing prices; three-quarters of new households rent rather than own. It’s hardly a surprise in a city where a typical detached home on the west side goes for $3.4-million. On the east side it’s $1.7-million. The cheapest option is an east side condo at $640,000. As home ownership spiralled out of reach for many, more and more people stayed in the rental market – the vacancy rate...
read moreSPECULATION TAX WON’T REIN IN TORONTO’S HOUSING MARKET
Councillor Mike Colle proposed a new speculation tax at Toronto City Council on Dec. 15. With the goal of making housing in Toronto more affordable, the thinking appears to be that a new levy (in addition to the already existing capital gains tax) to the sale of homes that are not principal residences would deter speculation and eliminate “home flippers” from the tightest, most competitive housing market on record. According to Colle, “These people are just essentially blowing up the market in...
read moreA YEAR IN REVIEW WITH RHBTV
As another year ends, we wanted to look back at some of our favourite interviews. This year we concentrated on bringing you relevant and timely news and on many occasions we were the industry’s source for – a new product – new service – new technology plus some exclusive announcements. Look out for the RHBTV Year in Review episode tomorrow!
read moreTHE CANADIAN GOVERNMENT JUST PUT REAL ESTATE INVESTORS IN ITS CROSSHAIRS
Canada quietly put real estate investors on notice, right before the holidays — probably hoping it slips under the radar. A newly re-elected Liberal Party of Canada (LPC) distributed mandate letters. These letters contain orders for the Minister to execute and are usually pretty dry. A big exception is the Minister of Housing’s mandate letter, which puts real estate investors in its crosshairs. The Minister has been ordered to cut profits, deter speculation, and limit leverage. Here are the...
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