Tag: housing
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Major Developers Join Toronto’s ‘Housing Now’ Initiative to Tackle Housing Crisis
The City of Toronto’s dedicated housing agency, CreateTO, recently provided an update on the ‘Housing Now’ initiative, revealing significant involvement from some of the city’s biggest developers. This collaboration aims to address the city’s housing shortage and affordability crisis. Notable developers like KingSett Capital, Greenwin, Tridel, Kilmer-Tricon, Ellis Don, and Windmill are key players in…
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1 in 5 Toronto Renters Spend Over Half Their Income on Rent, According to a New Report
Toronto’s housing market crisis is not limited to soaring home values that price residents out of ownership; renting is also becoming increasingly unaffordable. A recent report by Royal LePage reveals that nearly one in five Toronto renters now spend more than half of their monthly income on rent, highlighting the severity of the city’s affordability…
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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…
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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…
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Toronto Could Soon Crack Down on Landlords Evicting Tenants
Toronto is considering new regulations inspired by a recently adopted Hamilton bylaw to prevent “bad faith renovictions” and better protect vulnerable tenants. Background: Hamilton’s Renovation Licence and Tenant Relocation Bylaw In January 2024, Hamilton introduced a Renovation Licence and Tenant Relocation Bylaw, requiring landlords to obtain a renovation permit if issuing renoviction notices (N13s). This…
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5 Million Empty Bedrooms in Ontario Amid Skyrocketing Rent Prices and Housing Crisis
As housing affordability and soaring rent prices remain major concerns for renters in Ontario, a new map reveals a startling fact: there are millions of empty bedrooms across the province. According to the Canadian Census Mapper, the number of empty bedrooms in Ontario has reached approximately five million, a figure that some argue could significantly…
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Toronto Council Urged to Invest $351 Million in Affordable Rentals
City staff in Toronto are calling on the council to invest $351 million into affordable housing projects to facilitate the construction of 6,000 new rental units for low-income tenants and young, middle-class families. This ambitious plan aims to address the city’s affordable housing crisis and ensure these units remain affordable for at least 40 years.…
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How much it costs to rent in Canadian cities – April 2024
Canada’s Rental Market Overview: Price Trends Across Major Cities The rental landscape in Canada continues to witness fluctuations in pricing, shaped by various economic forces. According to the latest data from Urbanation and Rentals.ca, the average rent for all residential properties in Canada was pegged at $2,181, marking an 8.8% increase from the previous year.…
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Ontario Landlord Charges $500 for Tent Space Amid Housing Crisis
In Ontario, a rental advertisement has caused a stir by offering tent spaces for $500 on private property, highlighting the severe housing affordability issues in the area. The ad, which was quickly removed from Kijiji, targeted individuals living in makeshift tent communities and offered a spot on a private cottage property in Innisfil, near Barrie.…
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Trudeau Announces Bold, Multi-Billion Dollar Plan To ‘Solve’ Housing Crisis
As Canada grapples with a severe housing affordability crisis, Prime Minister Justin Trudeau has introduced a comprehensive multi-billion dollar strategy aimed at transforming the nation’s housing landscape. This ambitious plan, detailed in the 28-page document “Solving the Housing Crisis: Canada’s Housing Plan,” seeks to facilitate homeownership, improve housing for the unhoused, and enhance tenant protections.…
Canada Housing Market 