Closing the Gap: Understanding Canada’s Housing Crisis 2024

The housing market in Canada is currently grappling with a significant and unprecedented challenge – a widening gap between population growth and housing completions. This growing disparity has far-reaching implications, impacting economic, physical, and mental well-being, and posing a threat to Canada’s status as a prosperous and upwardly mobile society. Understanding the Housing Disparity Recent […]

Blackstone bets on Canadian immigration to usher in growth

With highly educated immigrants set to grow Canada’s population, one of the world’s largest asset management firms is looking to invest heavily in the country. Blackstone, the world’s largest alternative asset management company which oversees US$1 trillion in assets, is opening up an office in Canada as it commits to growing its presence and investments […]

Developers to launch hundreds of new condo units in Toronto as demand returns

Real estate developers are launching hundreds of new condo units in the Toronto region this year, as buyer demand grows after months of fretting over higher interest rates. Ever since the Bank of Canada announced in late January that it would take a break from hiking interest rates, activity in the residential real estate market […]

Toronto rental and housing scams are becoming a huge problem

Toronto Police are seeking a suspect in yet another housing scam investigation, just the latest in a string of similar scams where fraudsters rent or even sell homes they do not own. In the most recent case, police allege that between November 2022 and February 2023, 49-year-old Cem Devrim Turetken listed units on apartment rental […]

Canada inflation rate hits 13-month low

Annual price growth is now at its lowest level since January 2022 The annual pace of inflation in Canada cooled again in February, with a 5.2% year-over-year increase in the consumer price index meaning it is now at its lowest level since January last year. New figures released by Statistics Canada on Tuesday morning showed […]

Toronto home prices inch upwards in February

Sales remain low across the city’s housing market Toronto’s home price index rose by 1.1% in February over the previous month but continued to plummet on a yearly basis, with sales volumes across the city also remaining subdued. The Toronto Regional Real Estate Board (TRREB) revealed that the home price index (HP) sat at just […]

Bank of Canada makes first rate hike of 2023

The Bank also gave a significant update on its plans for future rate announcements The Bank of Canada has announced a quarter-point hike to its benchmark policy rate, a move that marks its eighth consecutive rate increase and the first of 2023 – although it also indicated that it could be its last for some […]

GTA Condo, Purpose-Built Rental Completions to See Record-Breaking Year

Just under 32,000 new condo units are slated for completion in the Greater Toronto Area (GTA) in 2023, according to real estate consulting firm Urbanation. Urbanation President Shaun Hildebrand tells STOREYS the figure may more realistically be in the ballpark of 25,000 to 30,000 units — he says the industry typically falls short of its […]

National home sales rise in December

National home sales increased by 1.3% in December over the previous month, according to the Canadian Real Estate Association (CREA), although homebuying activity was down by more than 39% compared with the same time last year. The association’s latest statistics also showed that the MLS Home Price Index fell by 1.6% on a monthly basis, […]

Record number of condos to flood Toronto market in 2023

A record number of new condo units will be completed in Toronto in 2023, just as skyrocketing mortgage rates make it harder for investors to close on their properties. Nearly 32,000 condos will hit the city and surrounding suburbs, according to data from condo research firm Urbanation Inc. That surpasses the previous high in 2020, […]

map of every single GO Transit line ever proposed

Toronto’s regional transit network could have looked much different in an alternate timeline, and one high school student from Hamilton has visualized how the GO Transit system may have looked in a reality where every single proposal played out as first envisioned. William (who prefers to be identified by first name only), a 16-year-old student […]

Canada Interest Rate

The Bank of Canada raised the target for its overnight rate by 50bps to 3.75% in its October 2022 meeting, below broad expectations that pointed to a more aggressive 75bps increase. Still, it marked the sixth consecutive rate hike, adding to the 350bps in interest rate increases in the current tightening path and pushing borrowing […]

Hamilton offers forgivable loans for secondary apartment renos

The city hopes to coax affordable secondary units into Hamilton’s housing market through a forgivable loan pilot program. The $250,000 initiative offers applicants of low to moderate income up to $30,000 to build or renovate suites in single-family homes. Those secondary units — whether basement apartments or garden suites — must rent for no more […]

Is stacked modular the future for affordable rental?

California engineer Curtis Wong is applying tech innovation to the affordable housing crisis and hoping his ideas will take hold across the U.S. The former employee of Elon Musk’s SpaceX is the founder of startup Cloud Apartments, which has a patented design for contemporary, cool-looking apartment modules and snap-together construction. The young company, based in […]

Development approval timelines in the Greater Toronto Area

As per Altus Group their recently completed study for BILD (Building Industry and Land Development Association). They have looked at various factors that might be contributing to housing affordability and supply issues. Here in the Greater Toronto Area. One area that they looked at was development approval timelines, which I thought developers must be aware […]

Bank of Canada announces another big rate hike

The Bank of Canada has increased its benchmark rate by 0.75%, marking a fifth consecutive hike in its latest effort to get surging price growth under control. The central bank’s move is its first three-quarter-basis-point jump of 2022, bringing its trendsetting policy rate to 3.25% – a full three percentage points above the rock-bottom level […]

More GTA homebuyers turning to private lenders. Here’s what you need to know

With a housing market that’s pricing out many in the Greater Toronto Area and stricter mortgage rules in Canada, private lending is becoming more popular among those looking to secure loans to buy a home — but experts warn there are risks involved. The value and number of mortgages funded by alternative and private lenders […]