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Wesgroup's Housing Crisis 101 video a YouTube hit
Wesgroup's Housing Crisis 101 video a YouTube hit
Wesgroup Properties is racking up tens of thousands of views for a YouTube video tackling critical issues homebuilders say impact efforts to address Canada's housing and affordability crises. The company hopes to spark a more extensive discussion of the issues.
Canadian home builders’ sentiment hits record lows: CHBA
Results from the Canadian Home Builders’ Association (CHBA) Q2 Housing Market Index showed even worse builder sentiment than the previous quarter. CHBA says the slowdown’s full effects are yet to be felt in housing starts because of long building timelines.
Toronto area new home sales hit all-time low in July
Toronto saw 654 new home sales in July, down 48 per cent from the same time last year and 70 per cent below the 10-year average, according to a report from the Building Industry and Land Development Association.
Mortgages in 'severe delinquency' surge 67% in Ontario
Amidst high cost of living and rising unemployment, homeowners, especially in Ontario, are driving higher mortgage balance delinquency rates. Over 3,000 mortgages in the province were in "severe delinquency" at the end of Q2, according to Equifax Canada.
Feds expand public lands bank by 56 properties
The federal government has expanded its public lands bank by 56 properties, aiming to increase the supply of affordable housing across Canada. Homebuilders are encouraged by the move but say its only one piece of the housing crisis puzzle.
Business booming for P.E.I. pre-fab truss company
Kensington, P.E.I.'s Island Structural Systems Inc. has seen constant productivity since opening in January. The company makes pre-fabricated roof trusses, floor joists and other engineered wood products for the construction industry.
Developer proposing 24 townhouses in Newmarket
York Region developer Fifth Avenue Homes wants to build a new 24-townhome development at the corner of Davis and Hamilton drives in Newmarket, Ont. The proposal would have private road access, with driveways featuring two parking spaces.
Quebec increases required inspections for new homes
Hailed as a "culture change" by the province, a new program will require contractors to undergo three inspections for all new homes. One will have to take place before the walls are closed in, while essential components are still visible.
It's a good time to buy a cottage in Canada, experts say
As the weather cools down across Canada, so too is the cottage market, with real estate experts saying now is the time to purchase that cottage you've had your eyes on.
Housing market rebound likely a year away
VIDEO: John Pasalis, president of Realosophy Realty, talks with Financial Post’s Larysa Harapyn and gives an update on the state of the housing market and how future interest rate cuts could affect it.
Down payment to buy a home in B.C. is soul-destroying
B.C. leads the way in a report ranking the minimum down payment required to buy a home in each province. Based on an average sale price of $959,480 in June, NerdWallet says $70,948 was required in B.C.
What to do when your mortgage renewal is declined
Though interest rates may be falling, many homeowners are still experiencing “rate shock” upon renewal — and in some cases, getting turned away by their lender. Here are some steps to take when your renewal application is denied.
Montreal launches pilot project for 60 modular housing units
Montreal is launching a pilot project to build modular housing and provide temporary accommodation for homeless people waiting for social housing. The city is currently working with the Office municipal d’habitation de Montreal to roll out the project by March 2025.
B.C. sets rent increase cap at 3% for 2025
B.C. building owners will not be able to increase rents by more than three per cent in 2025. The government said the change, tied to inflation, will take effect on Jan. 1. This year's allowable rent increase is 3.5 per cent.
Here's what you can make renting your TO-area basement
Basements are not often at the top of renters' lists, however they are usually cheaper alternatives to other units of the same size. But Toronto subterranean flats are going for as much as $2,600, on average, in some neighbourhoods.
Claims of 'house moving scam' directed at Alberta company
Several customers of Wade’s House Moving in Taber, Alta. have come forward after they either tried to buy a home that was never delivered or sold their home without receiving payment. Some claim they’re out hundreds of thousands of dollars.
Price to own piece of Oilers history falls over $800K
A piece of Edmonton Oilers history is back on the market, and the price has dropped to $2.4 million. A secluded Edmonton home boasts spectacular views and was formerly owned by the first owner of the Oilers, Peter Pocklington.
It’s getting easier to find a U.S. starter home but harder to buy one
Pending sales of U.S. starter homes leaped around 10 per cent in July from a year earlier, to their highest level since October 2022, according to an analysis by Redfin. However, prices increased more than four per cent.
U.K. homes for sale hit 7-year high as market gains momentum
The number of U.K. properties up for sale has hit its highest level in seven years and buyer demand is rising as a recovering economy boosts consumer confidence, according to Zoopla.
Londoners increasingly buying houses away from the capital
The average person moving from London, U.K. bought a home a record 63 kilometres outside the city between January and June, according to a report from broker Hamptons International. That’s 65 per cent more than the typical first-time buyer.
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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