Canada's Condominium Magazine

Monthly Archives: November 2014

National Housing Day draws attention to plight of the homeless

National Housing Day draws attention to plight of the homeless

A national day whose origins are in a “national disaster” must be one on which emotions are mixed. National Housing Day, “celebrated” November 22 in Canada, has its origins in the Toronto Disaster Relief Committee (TDRC), which in 1998 called on all levels of government to declare homelessness a national disaster requiring emergency humanitarian relief.… Continue Reading

CMHC survey shows housing market in good shape for most

CMHC survey shows housing market in good shape for most

In its latest detailed survey of the Canadian housing market, Canada Mortgage and Housing Corporation (CMHC) presents a mostly positive picture of how Canadians are doing in terms of basic housing needs: homeownership rates among immigrants are strong; housing starts are broadly in line with demand; Canadians’ ability to service their mortgages has improved; the incidence… Continue Reading

E-signatures coming to Ontario real estate transactions

E-signatures coming to Ontario real estate transactions

Ontario is moving closer to allowing electronic signatures in real estate transactions. The provincial government has already made e-signatures legal in other commercial transactions, and has accepted their validity for real estate in principle. People buying and selling real estate will be able to sign documents and email them back and forth rather than having… Continue Reading

Immigration more important for housing market than believed: CIBC

Immigration more important for housing market than believed: CIBC

Canada receives more immigrants aged 20–44 years than most other developed countries, and this influx of people in the key, household-forming demographic is supporting the housing market in a major way. While the real estate development industry has always known that immigration is a big source of demand for new housing, economist Benjamin Tal at… Continue Reading

Canadian home buyers “remarkably confident” and responsible: CAAMP

Canadian home buyers “remarkably confident” and responsible: CAAMP

Almost every discussion of the housing market in Canada for the past four or five years, whether the discussion is about sales numbers. affordability or the role of the Canada Mortgage and Housing Corporation, includes some variation of the notion that low interest rates are the critical factor in keeping the real estate market afloat.… Continue Reading

Canada’s October housing sales above ten-year average

Canada’s October housing sales above ten-year average

Canada’s MLS systems processed more home sales in October than in September, the Canadian Real Estate Association (CREA) reports. The nationwide rise in October’s sales was 0.7 per cent compared to September. On a year-over-year basis, the increase was 7 per cent. It was the sixth consecutive monthly increase and enough to make this October… Continue Reading

Other Popular Stories

15 percent non-resident speculation tax becoming reality for Ontario; may help temper “frantic” real estate market “without unintended consequences”

15 percent non-resident speculation tax becoming reality for Ontario; may help temper “frantic” real estate market “without unintended consequences”

As expected, Kathleen Wynn moved to cool down the sizzling hot GTA real estate market with a bundle of measures, led by new 15 percent non resident speculation tax. Investors who are residents are exempt, although separate “policies” may also target locals. Expanded rent controls are also certain. “When I talk about the frenzy in…

Ask the Lawyer: Condo owner wants action on noisy Airbnb “tenants”

Ask the Lawyer: Condo owner wants action on noisy Airbnb “tenants”

Reader Question: “I believe my neighbour is renting out with Airbnb. I see people I don’t know coming and going, making lots of noise. I also don’t feel safe in this environment. What can I do about this? So far, complaining to management hasn’t helped.” Do you have a question for Richard? Please reach out…

Sousa again promises action in GTA real estate market and rent controls in “coming week”

Sousa again promises action in GTA real estate market and rent controls in “coming week”

In another of several announcements promising action on the Ontario housing market — this one promising “in the coming week” — Ontario’s Finance Minister Charles Sousa revealed more details of the pending plan to rein in speculative market pricing in the GTA area. A combination of low supply and excessive demand has thrust house pricing…

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