Federal Election – Housing Platforms

Here’s a quick summary of what each of the federal parties are promising/proposing for housing in Canada: Conservative Party Make the mortgage qualification stress test less stringent, and eliminate it completely for renewals to keep banks from gouging borrowers on renewal with uncompetitive high rates. Allow first time buyers to obtain 30 year amortizations to… Read More

Many Canadians Are Financially Stressed – BDO

BDO Canada is part of a large global network of firms that provide debt solutions for people in financial difficulty. They publish a study called the ‘BDO Canada Affordability Index‘. Here are some of the key conclusions from the latest study: More and more Canadians are taking on debt in all forms: 57% carry a… Read More

Controversy Over Short Term Rentals in Toronto

The rental housing crisis in Toronto has put the spotlight on short term rentals like Airbnb, which have removed thousands of units from the stock of long term rental properties in the city. Rental units are in critically short supply, and so there has been an outcry from housing advocates calling for restrictions on Airbnb…. Read More

GTA Market for Rental Properties Growing Stronger

A recent report conducted by Ryerson University’s Centre for Urban Research and Land Development found that Toronto is the fastest-growing city in Canada and the U.S. by a huge margin. Immigrants are being attracted in droves by employment opportunities – for example, in the first half of 2019 alone, 81,600 new jobs were added and, on a… Read More

City of Toronto Supports “Missing Middle” Housing Options

Last week, Toronto City Council voted 20-3 to approve Mayor John Tory’s motion to expand “missing middle” housing options in areas designated as Neighbourhoods in Toronto’s Official Plan. These neighbourhoods coloured yellow in the City’s land use plan map are known as the “Yellowbelt”, mainly zoned for single and semi-detached housing since the 1960’s, accounting for approximately… Read More

Radon Gas Is The Second Leading Cause of Lung Cancer

House with radiation hazard

Ongoing research into the presence and effects of radon gas has produced some disturbing results – the gas is in almost twice as many Canadian homes as previously estimated. Health Canada estimates that radon exposure causes the deaths of about 3,200 Canadians every year. That makes it the second leading cause of lung cancer, representing… Read More

Ontario Government ‘More Homes, More Choice’ Act

On June 6, the Ontario Government passed new legislation to deal with the housing crisis through a five point plan: 1. Speed: cut out government bureaucracy that slows down the development process; 2. Cost: encourage developers to build more housing by reducing the layers of permits, government approvals and charges by municipalities and making these… Read More

Your Leaving-On-Vacation Checklist

Now that summer is just around the corner, many of us will be planning a getaway, whether it’s for a few days or a longer vacation. The location is chosen and the hotel is booked… but have you thought about what to do to make sure your home is safe while you’re gone? Break-ins are… Read More

New Mortgage Qualification Rules – More Unintended Consequences

As previously reported here, the B-20 ‘stress test’ mortgage qualification rules (requiring buyers to qualify ‘as if’ the mortgage rate were 2 points higher than it actually is) has resulted in a significant reduction in the number of real estate sales across the country. In turn, this caused an unintended knock-on impact on economic activity… Read More

Interest Rates Unlikely To Rise In 2019

The latest data from Statistics Canada shows that GDP has actually fallen in four of the past six months, suggesting that, after the longest (if one of the weakest) recoveries ever, we are heading toward a recession within the next year or so. Click to view monthly GDP chart This is why the Bank of… Read More