Tag: ontario housing market
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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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Toronto Unemployment Surges to 317K, Surpassing Entire Province of Quebec
Toronto’s unemployment crisis is a major concern for Canada’s economy. Data from Statistics Canada reveals that Greater Toronto’s unemployment rate sharply increased in May, contributing significantly to the national trend of rising unemployment. This surge in unemployment, particularly in Southern Ontario, highlights a troubling shift from economic driver to a significant drag on the national…
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BMO: Canadian Real Estate Won’t See Big Boost from Rate Cut
Canadian real estate markets are pausing despite hopes that rate cuts would boost activity. BMO’s new analysis suggests that while the Bank of Canada’s (BoC) rate cut may lift spirits, it won’t significantly improve affordability or drive many new buyers. The market is expected to remain constrained by rising inventory and affordability issues. Small Sentiment…
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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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Canada to put a cap on temporary residents for the first time
In a significant policy shift, Prime Minister Justin Trudeau’s administration is set to introduce caps on temporary residents entering Canada for the first time this fall, aiming to address the country’s housing crisis and mitigate inflation. Presently, temporary residents, including students, asylum seekers, and temporary workers, comprise approximately 2.5 million individuals or about 6.2% of…
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Canada slips to 15th place in the World Annual Happiness Report, with Canadians under 30 “very unhappy”
In the latest release from the 2024 World Happiness Report, Canada finds itself at the 15th position globally, revealing a subtle, yet significant shift in the nation’s overall happiness quotient. Despite Canada’s reputation for high quality of life and general contentment among its population, a deeper dive into the data uncovers a disturbing trend among…
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Toronto’s Tiny Home Dilemma: Exploring the Controversy Surrounding Laneway Houses
In recent years, Toronto has seen a surge in the construction of laneway houses, compact dwellings discreetly integrated into backyards and laneways across the city. However, this emerging trend has sparked a divisive debate within the community, as not everyone embraces this alternative form of housing. One notable example is the laneway house located behind…
Canada Housing Market 