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More Canadian buyers opt for home co-ownership
More Canadian buyers opt for home co-ownership
Unaffordable housing is the primary reason most Canadians who co-own their homes are buying the properties in partnerships with parents, friends or colleagues, a survey commissioned by Royal LePage found.
Banks report jump in mortgage terms beyond 25 years
Royal Bank of Canada reports in its third-quarter financial results that, as of July, 43 per cent of its Canadian residential mortgages had amortization periods of more than 25 years, a jump from 40 per cent a year ago.
Major mortgage insurer cuts back on disclosing LTV loans
A major mortgage insurer, Canada Guaranty Mortgage Insurance Co., has stopped disclosing numbers about the riskiest part of its balance sheet, where it has guaranteed mortgages for borrowers who have a loan-to-value (LTV) ratio greater than 100 per cent.
Thousands of condo units in the GTHA delayed: Urbanation
More than 2,000 condo units are delayed in Hamilton, nearly 3,000 in Toronto and hundreds more in Brampton, Burlington, Mississauga and Oakville due to higher interest rates and a lack of confidence in the market, according to Urbanation.
Some new Vancouver condos held empty for years
Some Vancouver developers have kept condos empty for as many as five years after completion and obtaining occupancy permits. Of the 96 unsold Vancouver condos empty for most of 2022, 60 were completed that year, 36 between 2017 and 2021.
Ottawa to revise how it counts non-permanent residents
The federal government is preparing to revise the way it counts non-permanent residents, after warnings from economists that there are around one million more immigrants living in Canada than official estimates.
Higher insurance rates for homeowners renting to students
As available housing dwindles and rents soar, the University of Calgary’s student union is urging homeowners to consider renting to students as some are driven to the edge of homelessness. Doing so however could raise premiums on their property insurance.
Ont. housing minister violated ethics rules in land swap
Ontario Municipal Affairs and Housing Minister Steve Clark violated ethics rules in the government’s decision to remove select lands from the Greenbelt, leading to the interests of certain developers being “furthered improperly,” the province’s integrity commissioner says.
Belleville council nixes purchase of subdivision site
Belleville city council struck down a bylaw, quashing a $3 million purchase by the municipality of an 8.4-acre parcel from developers of Osprey Shores for a propoosed 25-acre subdivision at the former Bakelite plastics industrial property.
50 modular homes under construction in Peterborough
Construction on 50 modular housing units to assist those experiencing homelessness in Peterborough is expected to start in September, the city announced. Outreach workers met with some potential residents to show them photos of units and community layout.
New consumer research findings from MHI's consumer survey
Trifecta Research Group conducted a survey of manufactured housing residents that found 81% of manufactured homeowners had a “very positive” or “positive” overall feeling about their home. MHI is expected to release further results from the survey this year.
UK investors face £500M in losses on modular housing
Big-name investors like Fortress Investment, TDR Capital, Legal & General and Homes England are facing potential losses of nearly £500M after collapse or closure of three of the UK’s best-known modular homebuilders highlighting the need for scale to achieve profitability.
Interest in international homebuying is nosediving
Canadians looking to buy a home in another country are taking a bit of a breather. Searches for U.S. properties decreased by 40 per cent between June 2022 and June 2023, and searches for Mexico dropped 24 per cent.
Developer fears 'the bad guys are winning'
One of Canada’s biggest property developers, West Vancouver’s John D’Eathe has been involved in $5 billion worth of residential and condo developments in Asia and Canada where he witnessed suspicious dealings he deems virtually impossible to prove in court.
London is cracking down on short-term rentals
The City of London has collected licensing fees from only a quarter of the people operating short-term rentals, approving 152 licences while there are over 700 short-term rental units in the city, with more than 660 on Airbnb.
Airbnb’s soaring profits mask a growing problem
Although Airbnb is reporting another successful year with 20% revenue growth, a growing number of Airbnb hosts are seeing fewer bookings. In major cities, revenues are down nearly 50% making rental hosts question the future of their short-term rental venture.
Arthur Erickson's Eppich House II hits market in Vancouver
One of the late renowned architect Arthur Erickson’s modernist masterpieces is on the market for nearly $13 million. The 6,400-square-foot glass-and-steel Eppich House II in West Vancouver’s British Properties was designed by Erickson in 1979, completed in 1988.
Toronto's famous cube house destined to be put on ice
The cubes, depending upon one’s perspective, are a Toronto housing icon, or, if you please, ugly, elevated, box-shaped hunks of junk. The famous structures are now in mortal peril of demolition to make way for a 30-plus storey condo.
Reborn heritage buildings contain deadly hazardous materials
Trasolini Construction Corp. is rehabilitating and renovating an old Vancouver farmhouse to bring it back to its original form. The Morrisette farmhouse, a designated heritage building in the residential neighbourhood of Kerrisdale, was built in 1909.
An e-voting gaffe, a three-way tie and condo election chaos
An error attributed to an electronic voting platform has unleashed chaos at a Toronto-area condominium complex and raised questions about the rules governing condominium election disputes. Susan Flynn recently elected to her condo board has been excluded from board business.
Industry Events
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Canadian Home Building Association: National Fall Meetings
Oct 21 2024
to Oct 25 2024
Ottawa, Ontario
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Canada Real Estate Auction
Oct 22 2024
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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Housing Central Conference
Nov 18 2025
to Nov 20 2025
Sheraton Vancouver Wall Centre Hotel, BC
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