Alleviating Canada’s housing affordability crisis revolves around increasing the supply of homes. But with Ontario’s environment of rising interest rates, labour shortages, high input costs, and even inter-provincial migration out of the bigger cities, analysts are suggesting solutions range from incentives for developers and builders to re-thinking land-use policies. Ontario has a goal of building…
ANALYSIS: How to Improve Housing Affordability by Motivating Developers
Albertans to Start Receiving Inflation-Relief Payments in Coming Weeks
Some eligible Albertans can start to apply for a total of $600 in inflation-relief payments in the coming weeks, with the first instalment to be released at the end of January, the provincial government has announced. Households with a yearly income of less than $180,000 are eligible for the six $100 payments for each senior…
Foreign Investors Banned From Buying Canadian Homes Starting Jan. 1
As of Jan. 1, 2023, foreign investors will be banned by the Canadian government from purchasing non-recreational residential property. The federal government announced the full details Wednesday for new regulations that have been finalized as part of the Prohibition on the Purchase of Residential Property by Non-Canadians Act, which was passed on June 23 and…
Alberta Sovereignty Act to Be Tabled as Bill 1: UCP Government House Leader
EDMONTON—The Alberta legislature is back in session Tuesday, with the province’s new premier, Danielle Smith, at the helm and the introduction of the much anticipated Sovereignty Act, which will “defend Alberta from Ottawa,” according to Government House Leader Joseph Schow. The Alberta Sovereignty Within a United Canada Act will be Bill 1 tabled on Nov. 29….
Alberta Budget Surplus of $12.3 Billion Will Fund Affordability Package: Finance Minister
EDMONTON—Alberta Finance Minister Travis Toews announced Thursday at a news conference that Alberta has a projected surplus of $12.3 billion in the 2022–23 mid-year budget. This is much higher than an earlier February forecast of only $511 million. Toews said the surplus will allow the province to provide significant help to Albertans and their families…
Alberta Premier Instructs Ministers to Focus on Inflation and ‘Affordability Crisis’
Alberta premier Danielle Smith has sent a mandate letter to several ministers asking them to prioritize tackling issues related to inflation and the “affordibility crisis.” “I ask you to keep the inflation and affordability crisis top of mind,” said the letter sent on Nov. 9. “Affordability is the primary challenge facing Albertans today, and as…
Liberal Cabinet Retreat Focusing on Cost-of-Living and Inflation Issues, Says Minister Leblanc
The Liberal cabinet is holding a retreat this week in Vancouver ahead of the fall parliamentary session and Minister of Intergovernmental Affairs Dominic Leblanc said on Sept. 6 that the focus will be the economy. “We’ve obviously heard in every part of the country the importance of working on economic measures that speak to affordability…
Youths Are Losing $750 A Month on Average Living in Canadian Cities
Young Canadians are losing $750 a month on average living in cities across the country, and to break even, they will have to give up on entertainment, transportation, and dining out, a public policy think tank says. Youthful Cities looked at the affordability of 27 cities across Canada for youths aged 15 to 29. With…
Housing Affordability Declining Fastest in Ontario: Report
In recent years, housing affordability has eroded at a faster rate in Ontario than in any other province, says a new report by Vancouver-based non-profit Generation Squeeze. “During the first two years of the pandemic, the Ontario government presided over the worst erosion of housing affordability witnessed by any Canadian province over a two-year period in the…
Amid High Living Costs, the Party With Policies ‘Closer to Reality’ Will Win Next Ontario Election: Affordability Advocate
With rampant inflation and high fuel prices, the party with policies closest to addressing the realities of rising affordability issues will triumph in the upcoming Ontario election, says former Liberal MP Dan McTeague. McTeague, now president of Canadians for Affordable Energy, said that the pocketbook issues have become “extraordinarily important” and “extraordinarily pressing” for all…
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