Tag: canada
-
Poilievre Urges Premiers to Drop Sales Taxes on New Homes Under $1M
Conservative Leader Pierre Poilievre has recently called on Canada’s provincial premiers to remove sales taxes on new homes priced under $1 million, following his own commitment to eliminate the federal sales tax on similar properties if he is elected. Poilievre argues that cutting these taxes would significantly lower the cost of homeownership and help address…
-
New report finds that the average Canadian family spends more money on taxes than basic necessities.
The latest edition of the Canadian Consumer Tax Index highlights a concerning trend: the tax burden on Canadian families has surged dramatically, with a staggering 2,705% increase in total taxes from 1961 to 2023. This rise is stark when compared to other essential expenditures such as shelter, food, and clothing, which have increased by 2,006%,…
-
Bank of Canada Lowers Key Interest Rate to 4.5%
The Bank of Canada announced a cut to its key interest rate this morning, reducing it by a quarter percentage point to 4.5%. This marks the second consecutive rate cut as the central bank responds to easing inflationary pressures and a weakening economic outlook. Bank of Canada Governor Tiff Macklem made the announcement during a…
-
Here’s what you can get for $500k in Ontario vs Texas
When it comes to real estate, $500,000 can buy you very different homes depending on where you’re looking. In this guide, we’re comparing what you can get for that budget in Canada and Texas. From a town house in Oshawa to a 3000sqft home with a pool in Houston, we’ll show you how much your…
-
Ontario Dominates New Ranking of Best Places to Live in Canada
Ontario continues to be a desirable place to live, as evidenced by a recent ranking where the province had seven locations featured among the top places to live in Canada. Despite some common complaints from residents, Ontario’s charm and livability have been recognized on a national level. Real estate listing site Zolo evaluated various factors…
-
How Much Income You Need to Own a Home in Canada: June 2024 Update
A slight dip in interest rates in June improved home buying conditions for some Canadians, with affordability increasing in nearly half of the nation’s major markets. The latest Ratehub.ca affordability report, based on real estate data from May and June 2024, found that the required income to purchase a house lowered in six of the…
-
1 in 4 Canadians may be living in poverty according to a recent report from Food Banks Canda.
A recent report from Food Banks Canada reveals that poverty in Canada may be more extensive than previously thought. The organization estimates that 25% of Canadians could fall under this category due to their inability to afford two or more essential household items. This revelation significantly exceeds the four million people reported by Statistics Canada…
-
Here’s What $1,000,000 Gets You in Toronto
When it comes to real estate, first impressions can be deceiving. Despite its unassuming exterior, the charming two-bedroom, two-bathroom bungalow at 226 Woodmount Ave. in Old East York offers a pleasant surprise. Step inside, and you’ll discover a bright, inviting home filled with modern updates and cozy spaces, making it a hidden gem in the…
-
Canadian Rent Prices Reach Record High of $2,202 in May
According to a new report by rentals.ca, the average asking rents for all residential property types in Canada reached a new high of $2,202 in May 2024. This is the first time the national average rent has surpassed the $2,200 mark, indicating a significant trend in the Canadian housing market. National Rent Rankings – June…
-
Canada’s Most Affordable Cities in 2024
As housing affordability continues to be a major concern in Canada, many are looking for cities where they can buy a home without breaking the bank. Based on a Royal LePage report, here are the most affordable cities in Canada for 2024, listed with their key affordability metrics. 1. Thunder Bay, Ontario Aggregate Price Q1…
Canada Housing Market 