Tag: housing affordability
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How a U.S. Trade War Could Impact Canada’s Housing Market
A potential trade war with the U.S. could significantly impact Canada’s housing market by driving up construction and renovation costs. Experts warn that new tariffs could raise the price of homebuilding materials, making homes less affordable and reducing new housing supply. How Tariffs Could Affect Home Prices The U.S. and Canada are major trading partners,…
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27,000 Ontarians packed their bags and moved to Alberta in 2024, setting a new record.
In 2024, Ontario witnessed an unprecedented wave of migration as over 27,000 residents packed their bags and headed west to Alberta. This record-breaking relocation trend has been fueled by the allure of Alberta’s lower cost of living, booming economy, and affordable housing market, leaving many to wonder why so many Ontarians are making the move.…
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Why Economists Are Changing Their Predictions: 50 Bps Rate Cut Likely from Bank of Canada Tomorrow
As the Bank of Canada prepares to announce its interest rate decision tomorrow, December 11, 2024, economists across the country are adjusting their predictions. Initially uncertain, many are now leaning towards a 50-basis-point (bps) rate cut, with top institutions like Scotiabank and the Bank of Montreal (BMO) joining the growing consensus. This decision could have…
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Canada’s New Mortgage Reforms Take Effect December 15 and Here’s Everything Homebuyers Need To Know
The Canadian government is introducing major mortgage changes that will take effect on December 15, 2024. These reforms are being called the “boldest in decades” and are designed to tackle the country’s housing affordability issues, especially in expensive cities like Toronto and Vancouver. Key Changes Starting December 15 Raising the CMHC Insured Mortgage Cap The…
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Canada Allocates $50 Million to Crack Down on Airbnbs and Short-Term Rentals
The Canadian government is taking significant steps to address the housing crisis by investing $50 million in the Short-Term Rental Enforcement Fund. With approximately 235,000 short-term rental units, including Airbnbs and Vrbos, operating across the country, this initiative aims to bring non-compliant properties back into the long-term housing market. The Goals of the Short-Term Rental…
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Investors Account for 25% of B.C. Homebuyers: A New StatsCan Analysis
Real estate investors made up approximately one-quarter of homebuyers in British Columbia between 2018 and 2020, according to a newly released analysis by Statistics Canada. This data highlights the significant role investors play in B.C.’s real estate market, particularly in major metropolitan areas like Vancouver, Kelowna, and Victoria. Key Insights from the Statistics Canada Report…
Canada Housing Market 