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Minto milestone: Firm celebrates 100,000th home closing
Minto milestone: Firm celebrates 100,000th home closing
Respect, consistency and a willingness to diversify are the values underpinning Minto Group’s longevity as it closes its 100,000th housing unit and plans for its 200,000th closing, two executives told RENX Homes.
Equiton buys Vicinity Condos dev. property in Toronto
A vacant half-acre lot formerly occupied by a gas station and car wash at 875 The Queensway in Toronto will be the site of the proposed 150-unit Vicinity Condos. Equiton, a private equity firm and developer, purchased the property.
Wait for City of Toronto approvals slowing housing supply
Lengthy waits for City of Toronto approvals is slowing efforts to add much-needed housing supply, such as converting a single-family into a duplex, according to a study by Building Industry and Land Development Association (BILD) and Altus Group.
How B.C. communities are balancing building with flood risks
There are approximately 1.5 million homes across Canada – about 10 per cent of the residential housing market – located in high-risk zones that are ineligible for flood insurance, according to an April 2023 report from the Intact Centre on Climate Adaptation.
B.C. offers homeowners up to $40K to build secondary suites
The B.C. government is offering up to 3,000 eligible homeowners a maximum of $40,000 to build a secondary housing unit - basement, laneway and garden suites - on their property, a program aimed at boosting the supply of housing.
Missing middle absent from Greater Victoria new-home data
CMHC reported that of the 664 housing units under construction in Victoria in August, 645 were either apartments or single-family. However, only four semi-detached and 15 townhomes — the missing middle — were started in the region last month.
GST waiver on rental housing a relief, but questions remain
GUEST SUBMISSION: The federal government has finally confirmed its intention to remove GST charges on new rental housing, an excellent but critically delayed measure first promised in 2015 before the emergence of the current housing crisis.
Abolishing the QST would be too expensive: Quebec premier
Prime Minister François Legault says that abolishing the Quebec sales tax (QST) on construction materials would be far too costly a measure compared to its effectiveness. Preliminary estimates of such a measure for Quebec would be $1.5 billion.
Ottawa-Gatineau’s housing starts jumps 39% in August
The annual pace of housing starts in the National Capital Region bounced back last month, rising 39 per cent after falling in July. CMHC reported 14,754 units in August, compared with 10,594 the previous month.
GTA new housing supply declines in August
The Building Industry and Land Development Association (BILD) reported that total new home 'remaining inventory' (preconstruction, under construction and completed projects) decreased in August compared to July to 16,139 units including 14,242 condominium units and 1,897 single family lots.
The second worst August for new GTA homes sales
The GTA’s sluggish real estate market saw the second-worst August for new home sales in two decades, beaten only by last year’s dismal numbers. Sales were 63 per cent below the 10-year average as the industry pauses activity.
Is Toronto real estate cheaper than Vancouver?
As conditions shift in the current housing landscape, whether Toronto or Vancouver has cheaper real estate has become a common question. Prospective homeowners, investors and analysts are attempting to determine what trajectory these major urban centres are headed.
Variable-rate mortgages cost Canadians big money
Remember when variable-rate mortgages were all the rage. Canadians have traditionally tended toward a fixed-rate, but when the Bank of Canada lowered its benchmark interest rate to 0.25 per cent during the pandemic the popularity of the variable-rate soared.
Co-ownership site offers unique financing solution
Home buyer solutions provider Co-Own My Home has launched in Ontario, providing a matchmaking service for frustrated buyers unable to purchase a home due to; prices, down payment, or mortgage income qualification. Buyers now have a co-ownership company to turn to.
Appraisal Institute's key recommendations to Parliament
The AIC will be reiterating the need for prudent mortgage underwriting guidelines, the need to focus on housing supply initiatives, plus the need to exempt mortgage renewals from the application of the stress test for Federally Regulated Financial Institutions.
Student loans delay Ont. graduates' real estate purchases
A large number of young adults are delaying homeownership in Ontario, citing student debt as the “primary reason” for postponing this milestone, a new poll by the Ontario Real Estate Association (OREA), conducted by Abacus Data, suggests.
Older, single women lead in financial well-being: HomeEquity
Findings from a new survey released today from HomeEquity Bank, provider of the CHIP Reverse Mortgage, reveal the truth about long-standing myths about women and their finances, especially those in the 55+ community.
Etobicoke condo board allegedly invested $500,000 in crypto
An allegation that a Toronto townhouse complex violated Ontario’s Condominium Act by investing at least $500,000 in a cryptocurrency exchange called Pink Piggy Investment Group is highlighting gaps in provincial protections for condo owners.
Airbnb crackdown on fake listings removes 59,000 this year
Fake listings are a major problem for Airbnb, threatening to scare off consumers and prompting it to use AI to crack down on fraudsters. Airbnb says it has removed 59,000 fake listings and prevented 157,000 others from joining the platform.
U.S. home flipping activity drops as profits rise in Q2
ATTOM, a leading curator of land, property, and real estate data, today released its second-quarter 2023 U.S. Home Flipping Report showing that 84,350 single-family homes and condominiums in the United States were flipped in the second quarter.
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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