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ELECTION: How the parties’ housing promises stack up (VIDEO)

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Employment, Finance, Housing, Industry Trends, Newsworthy, Real Estate Law, Tax Law, Tenancy Law

ELECTION: How the parties’ housing promises stack up (VIDEO)

Housing has emerged as a hot-button topic in the federal election campaign, with party leaders unleashing a slew of headline-grabbing promises over the last few weeks.   The so-called B-20 mortgage stress test, an incentive aimed at helping first-time buyers, and an update to the RRSP Home Buyers’ Plan are among measures that have been introduced since the current Liberal government came into power in 2015. But affordability is still top of mind in the lead-up to the Oct. 21 vote, especially...

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Soaring rents and house prices in Canadian cities make housing a key election issue

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

Soaring rents and house prices in Canadian cities make housing a key election issue

Federal parties roll out their strategies to help urban Canadians keep housing costs in check. Jeff Gallant lived in his new home just 17 days before the For Sale sign went up. Soon after the single dad rented the house, it was sold and the new owners sent him notice of a major renovation that would force Gallant and his two young children to leave. A similar thing occurred at his previous place, and it’s happening to so many renters in Charlottetown that a new term has been born:...

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Foreign Investors Ramp Up Multifamily Acquisitions

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Foreign Investors Ramp Up Multifamily Acquisitions

Even as the overall volume of cross-border investment in U.S. real estate slows down, apartment properties remain popular with foreign buyers. Foreign investors continue to spend money on apartment properties in the U.S., even while they may be slowing down on purchases of assets in other sectors. In the second quarter, cross-border investors became net sellers of U.S. commercial real estate overall for the first time in seven years, according to Jim Costello, senior vice president with...

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Ontario to allow community housing agencies to reject tenants evicted for crimes

Posted in Bylaws / Regulations, Communications, Health & Safety, Housing, Industry Trends, Legal, Newsworthy, Tenancy Law

Ontario to allow community housing agencies to reject tenants evicted for crimes

Violent criminals who have been evicted from their Toronto Community Housing (TCHC) units will no longer be able to immediately return to their buildings, as the province empowers landlords to reject applications based on criminal history. The change in housing regulations closes a loophole that allowed tenants who have been convicted of drug trafficking or gun violence to reapply for community housing and eventually live in the same building. The new rules give TCHC the power to reject an...

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Vancouver rental apartment building sell-off a sign of unsettled industry

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Real Estate Law

Vancouver rental apartment building sell-off a sign of unsettled industry

If you’ve ever thought about buying an apartment building in Metro Vancouver, you’re currently spoiled for choice. A surge of listings has hit the market in recent months, with one commercial real estate group listing 18 multi-unit properties worth nearly a quarter of a billion dollars. Mark Goodman of Goodman Commercial,  the company listing those properties, says government policies are squeezing some owners, and actually hurting the rental market. Goodman points to rent control policies as...

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Toronto set for record apartment surge after rent control lifted

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy, Tax Law

Toronto set for record apartment surge after rent control lifted

Toronto’s apartment crunch is finally easing as new supply hits the market and the removal of rent controls leads to record units on the drawing board, according to a new report. The vacancy rate rose to 1.5 per cent in the second quarter, the highest since 2015, when research firm Urbanation began tracking the data. Rent increases eased to 7.6 per cent from 10.3 per cent last year, bringing the cost of an average-sized unit of 794 square feet to $2,475 ($1,894). Conditions eased as nine...

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Canada Is the Safest Source of Energy, Alberta Premier Says

Posted in Communications, Finance, Industry Trends, Newsworthy, Utility Management

Canada Is the Safest Source of Energy, Alberta Premier Says

When Alberta Premier Jason Kenney announced last week that he would be going on a week-long tour in the United States to promote investments in the province’s energy sector, little did he (or anyone, for that matter) know how the geopolitical risk premium in the oil market will spike this week. After this weekend’s attacks on key oil infrastructure in OPEC’s largest producer and the world’s top oil exporter, Saudi Arabia, geopolitical concerns in the Middle East are mounting while the...

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Lower rates giving Canadian housing ‘nine lives’: CIBC’s Tal

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Lower rates giving Canadian housing ‘nine lives’: CIBC’s Tal

If the Canadian housing market had a spirit animal, a cat could be fitting. Benjamin Tal, deputy chief economist of CIBC Capital Markets, says global and domestic developments that have led to lower interest rates have continually buoyed Canadian housing at times when it was poised to soften. “The housing market has nine lives. Every time it’s supposed to slow down, something bad happens elsewhere that keeps interest rates low and the party’s still going,” Tal told BNN Bloomberg in a Friday...

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Mississauga Fifth Most Expensive City for Rentals in Canada

Posted in Appraisal, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Mississauga Fifth Most Expensive City for Rentals in Canada

If you’re looking for an apartment in Mississauga, you might be disappointed to hear that prices haven’t dipped over the past month and that two-bedroom units have actually gotten a little more expensive (which isn’t great news for families looking for more spacious units).  But it does look like affordability is increasing a little across the country.  The recently-released Rentals.ca September 2019 Rent Report, produced by Rentals.ca and Bullpen Research & Consulting,...

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Starlight buys Akelius’ GTA apartment portfolio for $176.8M

Posted in Appraisal, Communications, Finance, Housing, Industry Trends

Starlight buys Akelius’ GTA apartment portfolio for $176.8M

Toronto-based Starlight Investments, a multi-family and commercial real estate investment and asset management firm, has bought 12 Greater Toronto Area (GTA) apartment properties. Starlight Investments bought the properties, which include 19 buildings and 626 suites, from Akelius Canada, a subsidiary of Akelius Residential Property AB, for $176.8 million. More so Starlight Investments said that the acquisition of these 19 buildings further enhances its presence throughout the city. Recently,...

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