The government will focus on building new homes in England’s inner city areas instead of “concreting over the countryside,” Prime Minister Rishi Sunak has said as the government unveiled its long-term housing plan on Monday. Mr. Sunak said the government is on track to deliver its pledge to build a million homes before the next election,…
Toronto Opens Hotel Rooms for 150 Asylum Seekers Following $97 Million Pledge From Ottawa
The city of Toronto is opening up hotel rooms for 150 asylum seekers following a $97-million pledge from the federal government toward shelter spaces for refugees and those seeking asylum. “We know that Torontonians are generous. We know that together we can be welcoming for refugee claimants so they have dignity, so they don’t have…
Eviction Notices Rise in Several US Cities
Eviction filings are rising in several American cities, according to recent data collected by the Princeton University Eviction Lab. Princeton’s Eviction Tracking System has been keeping track of eviction filings across the United States since 2000 when the lab started to publish its findings. The findings are based on (pdf) tens of millions of public records from state and county…
ANALYSIS: How to Improve Housing Affordability by Motivating Developers
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…
IN-DEPTH: ‘Just Cause’ Policies Benefit Tenants, but Landlords Say They ‘Just Cause’ Problems
While the director of a tenants association says “just cause policies benefit tenants,” the president of a landlord’s association insists they “just cause a lot of problems” for landlords. “Just cause” eviction policies are designed to prevent random, retaliatory, or discriminatory evictions by ensuring that landlords can only evict a tenant for specific reasons, such as…
ANALYSIS: Is a Real Estate Crash on the Horizon for Canada?
For decades, some economists and commentators have been predicting that the real estate “bubble” will cause house prices to crash in Canada. With the Bank of Canada now continually hiking interest rates, could the decline some have been predicting be on the horizon? While some say the various factors putting upward pressure on prices—such as…
Poilievre Pledges to Speed Up Housing Approval Following CMHC Report on Slow Times for Toronto, Vancouver
Following a report by the Canada Mortgage and Housing Corporation (CMHC) saying Vancouver and Toronto have the slowest approval times for building new homes, Conservative Leader Pierre Poilievre pledged to speed up the process of building homes in Canada. “Slow permits mean higher prices. Higher prices mean Canadians can’t afford to put roof over head,” Mr….
IN-DEPTH: How Canadians Can Survive Tough Times Amid Rising Interest Rates
Although this week’s announced interest rate hike by the Bank of Canada (BoC) will make things even tougher for Canadians amid rising mortgage rates and tight budgets, there are a number of ways people can ride out this period and manage their finances. “One thing Canadians can do is make a budget plan. Do not…
New Residential Home Construction Costs Soared by 51 Percent Since COVID: Bank Report
The cost to build a new residential home has skyrocketed 51 percent since the start of COVID, causing higher prices during what is already a severe housing crisis, according to a new report by the Royal Bank of Canada (RBC). The June 27 report by RBC economists Robert Hogue and Rachel Battaglia said the increase…
New Residential Home Construction Costs Soared by 51 Percent Since COVID: RBC Report
The cost to build a new residential home has skyrocketed 51 percent since the start of the COVID-19 pandemic, causing higher prices during what is already a severe housing crisis, according to a new report by the Royal Bank of Canada (RBC). The June 27 report by RBC economists Robert Hogue and Rachel Battaglia said…
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