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Canada needs 3.5M more housing units by 2030: CMHC
Canada needs 3.5M more housing units by 2030: CMHC
The Canada Mortgage and Housing Corporation (CMHC) suggests an additional 3.5 million housing units on top of what’s being built will be needed by 2030 to bring down prices to a target level.
7 years not enough to build millions of housing units
Canada has no chance of building the additional millions of housing units CMHC projects are needed to restore housing affordability over the next seven years, according to the chief economist of Desjardins Group, speaking at a recent event in Toronto.
Feds to remove GST on new rental housing builds: Source
Prime Minister Justin Trudeau will announce Thursday that Ottawa is removing the GST on construction of new rental apartment buildings, according to a senior government source who spoke on the condition of anonymity as it is not yet public.
Canada ponders restricting number of international students
Several federal cabinet ministers have floated options to reduce the number of international students at Canada’s universities and colleges, part of an effort to do something about out-of-control housing costs.
Tax incentives, GST removal, financing to ease housing pain
Tax incentives, GST removal and favourable financing are on table as the government hopes to ease housing pain. Housing Minister Sean Fraser is keeping a wide range of options open as he looks to reduce the national housing shortage.
Ontario housing starts in 2021-22 hit 30-year high
According to Canadian Mortgage and Housing Corp. (CMHC) data, total housing starts in Ontario for 2021 and 2022 were 92,284 and 91,885 respectively, the highest since at least 1990. In the first and second quarters, there were 44,000 housing starts.
Victoria approves 16- and 19-storey residential buildings
Victoria city council has approved a development permit for nearly 300 units of housing in 16- and 19-storey buildings at Dockside Green. Between them, the two buildings are expected to contain about 291 condominium units.
Proposal to build timeshare tourist housing in English Bay
Imagine a rezoning application submitted to the City of Vancouver that proposes the construction of a residential community perched over water in the middle of English Bay. It layers on a multicoloured aesthetic to Montreal’s iconic Habitat 67 residential complex.
Startup offering fractional real estate ownership sees demand
Some of Canada’s priced-out home buyers plan to invest in fractional real estate ownership. BuyProperly is using artificial intelligence to offer people entry into the residential and CRE market by purchasing a fraction of the property, along with other buyers.
New tactics in an unsettled real estate market
In an uncertain market, Rochelle DeClute, broker with DeClute Union Realty, is seeing an increasing number of home and condo owners decide to sell their existing property before they buy a new one. That’s a shift in the trend of recent years.
Four strategies to reduce the mortgage renewal pain
Canadians renewing their mortgage in the next six to eight months face a three-pronged dilemma. For many, there’s the question of how to handle the financial shock from much larger mortgage payments, as homeowners renew at significantly higher interest rates.
For a few homeowners, power of sale is end of the road
Real estate industry watchers are growing increasingly nervous about the number of power-of-sale properties such as condos that were leased until recently and now sit empty; triplexes that are half-rented; homes in mid-renovation; and finished renovations no longer being staged.
Vancouver makes huge hike to short-term rental license fees
Citing concerns about the impact of short-term home rentals on Vancouver’s housing market, city council has ratcheted up the business licence fee for operators by more than nine times the current rate.
Orillia OKs 'appropriate solution' for short-term rentals
Under a new municipal bylaw, all short-term rental operators are required to obtain an annual licence that will enable the city to monitor and manage the short-term rental market in Orillia with a cap of 150 operating short-term rental accommodations.
Is the Airbnb dream dead?
Online, it’s been dubbed an “Airbnbust.” Creeping angst about the phenomenon started spreading last fall on the internet and in host chat groups. One post on social media went viral: “What’s going on with Airbnb? No bookings at all.”
‘Airbnb to lead real estate market crash’: Robert Kiyosaki
Airbnb recently saw its number of short-term units plunge by 70% in New York City after a new law was passed that requires Airbnb owners to register with the city if they plan to rent their homes out for less than 30 days.
Average rent hits record, costs $2,117 per month
National residential rents hit an all-time high in August, according to rentals.ca. Average rents rose 1.8% month over month — and 9.6% year over year — to reach $2,117 in the month, with the year-over-year figure marking a four-month high.
Homelessness has jumped 44% in five years in Quebec
Homelessness has grown significantly in Quebec. Ten thousand people were in a situation of visible homelessness on the night of Oct. 11, 2022, an increase that affects all regions of Quebec. The main cause of housing loss now: evictions.
London gets $74-million for new 'homelessness system'
London, Ont., has landed $74 million to build more than 2,000 housing units and support its new homelessness system, becoming the first municipality in Canada to access a $4-billion federal housing fund.
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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