This morning, Statistics Canada (StatCan) published its anticipated March inflation report. The Consumer Price Index (CPI) rose 2.9% on a year-over-year basis in March, up from a 2.8% gain in February. Economists had predicted that the Consumer Price Index (CPI) would tick up in March thanks, in part, to an increase in gasoline prices. Gasoline […]
Could Canada’s headline inflation rate reach the neutral target of 2% by this summer, a full year sooner than the Bank of Canada’s own forecasts? National Bank of Canada thinks so. In a new report, economist Taylor Schleich argues that there’s actually a “clear path” to 2% inflation by the middle of this year. “To […]
64 countries (plus the European Union) are expected to hold national elections in 2024, representing a combined population of about 49% of the people in the world Learning from the history on election years quantitative easing was a common political solution !!! Below list are representing the expected national elections in 2024 in the world: […]
Downtown Toronto appears to finally be bouncing back nearly four years after the onset of the pandemic, but it could still be a while before the city returns to its former glory, experts say. According to research by the University of Toronto’s School of Cities, which has been monitoring cellphone activity in major North American […]
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 […]
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 […]
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 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 […]
The Ford government tabled new legislation that will give itself the power to convert underutilized schools in Ontario into affordable housing or sell off the properties on the open market, in a major overhaul of education policies. The new bill, called the Better Schools and Student Outcomes Act, includes sweeping new measures aimed at standardizing […]
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 […]
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 […]
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 […]
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 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, […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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