LAST DAYS OF THE NIMBY: HOW OTTAWA’S HOUSING PUSH IS REWRITING THE RULES OF DEVELOPMENT
Rental Housing Business
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2w ago
Last month, city councillors in Calgary settled in for what would turn out to be the city’s longest-ever public hearing. Over the course of 12 days, more than 700 residents and stakeholders paraded through council chambers at city hall to share their views ahead of a vote on sweeping changes to the city’s zoning rules. The question was whether to implement blanket rezoning that would pave the way for more housing density in the 60 per cent of the city allocated to single-family dwellings. An ..read more
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IN DESPERATE NEED OF MORE AFFORDABLE HOUSING MISSISSAUGA COUNCIL BACKS BOLD PLAN TO INCENTIVIZE DEVELOPERS
Rental Housing Business
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2w ago
How can sky-high rents across Mississauga be lowered? Here is the dilemma: governments are not in the business of building rental units; and the companies that do are facing unprecedented cost barriers such as high interest and building material prices. Along with mounting demand these rapidly increasing costs continue to push rental rates far out of reach for most residents in the city. Mississauga City Council has developed a strategy to incentivize developers, helping lower their ..read more
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CITIES ACROSS CANADA OFFER PROPERTY TAX BREAKS TO NON-PROFIT HOUSING. NOT MONTREAL
Rental Housing Business
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2w ago
If the Yellow Door Housing Corp. were renting its rooms and apartments to low-income people in Toronto instead of Montreal, it would likely be exempted from property taxes. Same thing if it were in Edmonton, Calgary, Halifax and some communities on Vancouver Island. Instead, the non-profit corporation that houses vulnerable people in Plateau-Mont-Royal borough is spending what little money it has on lawyers’ fees to fight the City of Montreal in court to lower — not eliminate — its nearly ..read more
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MANITOBA PLANS NEW RULES FOR RENT INCREASES AND INCENTIVES FOR NEW HOUSING
Rental Housing Business
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2w ago
Some Manitoba landlords may have a harder time raising rents above inflation and could be ordered to phase-in increases over years if a bill introduced Thursday by the Manitoba government becomes law. The bill would set down conditions for landlords who want to raise rents above the annual provincial guideline, which is tied to inflation. Currently, landlords can apply to a residential tenancies director for a higher rent increase for any reason and make their argument. The bill would limit ..read more
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ONTARIO SECURES $357 MILLION BOOST FROM OTTAWA IN AFFORDABLE HOUSING AGREEMENT
Rental Housing Business
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2w ago
On Tuesday, in what might be considered a breakthrough moment in Ontario’s housing crisis, the federal and provincial governments announced a $357-million agreement under Canada’s national housing strategy. The funding, which comes after months of intense negotiations, will help address critical housing shortages across the province. Initially announced In 2018 as part of the National Housing Strategy’s bilateral agreement, the proposed funding was contingent on Ontario building 19,660 new ..read more
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TRUDEAU WANTS TO MAINTAIN HOME PRICES WHILE PUSHING AFFORDABILITY. IS IT POSSIBLE?
Rental Housing Business
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2w ago
The federal government is aiming to make housing affordable for younger Canadians while retaining property value for existing homeowners, Prime Minister Justin Trudeau said in an interview with the Globe and Mail.  “Housing needs to retain its value,” Trudeau told The Globe and Mail’s City Space podcast last week. “It’s a huge part of people’s potential for retirement and future nest egg.” However, some experts argue that may not be easy to do. “His comments are extremely problematic,” John ..read more
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CANADA SEES INVESTMENT FLIGHT AS ECONOMY SLOWS AND GOV TARGETS INVESTORS
Rental Housing Business
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2w ago
Canada may be in the process of losing its reputation as an investment safe haven. Statistics Canada (Stat Can) released its balance of international payments for Q1 2024, reinforcing preliminary data showing investors are looking for opportunities abroad. It also revealed foreign investors are engaging in their first divestment from the country in 14 years, as the domestic economy heads towards underperforming the global average. Foreign Investors Pulled Billions Out of Canada’s Economy  ..read more
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STATISTICS CANADA SAYS ECONOMY GREW AT 1.7% ANNUALIZED RATE IN Q1
Rental Housing Business
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2w ago
The Canadian economy expanded less than expected in the first quarter, with weak inventory growth offsetting strong consumption gains, prompting traders to boost bets on the Bank of Canada cutting rates as early as next week. Gross domestic product in the first quarter expanded at a 1.7 per cent annualized pace, Statistics Canada reported Friday in Ottawa. That’s slower than a Bloomberg survey median estimate of 2.2 per cent and the Bank of Canada’s forecast of 2.8 per cent. The statistics ..read more
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WEEK OF JUNE 3 2024 NEWSREEL WITH VANESSA TOPPLE
Rental Housing Business
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2w ago
Another week, another report and this one from the National Housing Council on affordable housing is less than impressive with typical recommendations ..read more
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LANDLORDS SIGN ON TO HALIFAX’S NEW RENTAL REGISTRY, TENS OF THOUSANDS OF UNITS LISTED
Rental Housing Business
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1M ago
The deadline for landlords in the Halifax Regional Municipality to register their rental properties has come and gone, with tens of thousands of units now catalogued under a long-awaited new bylaw. The municipality said 10,360 registrations have been received so far, representing 66,590 rental units. Since the April 1 deadline, no landlords have been fined for failing to comply with the mandatory registry. Brynn Budden, a spokesperson for HRM, said staff are using an education-based approach ..read more
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