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Real Estate
Average home price 67 per cent higher than affordable level in August: PBO
OTTAWA — The parliamentary budget officer says the national average price of a home in February was more than 50 per cent higher than it was two years prior.A new report says the average home price reached a peak of $839,600 in February…
Homes still unaffordable for average households despite fall in prices: reports
OTTAWA – Buying a home has become more unaffordable for Canadians even as housing prices fall, according to new reports from the parliamentary budget officer and RBC.The PBO's house price assessment, published on Thursday, says the…
RESCON outlines 15 actions governments must take to boost supply of new housing
The Residential Construction Council of Ontario (RESCON) is calling on all three levels of government to tackle the housing supply and affordability crisis by immediately adopting a series of recommendations aimed at speeding up…
Realtors, consumers facing racism on the job and when buying and selling homes: OREA
TORONTO – Realtors and their clients are facing racism and discrimination during the home buying and selling process, but there are no efficient ways for consumers to report such incidents, says new research from the Ontario Real Estate…
Re/Max report expects home prices to decrease 2.2 per cent this fall
TORONTO — A report by Re/Max Canada forecasts the national average home sale price in Canada will fall 2.2 per cent in the final months of the year.The network of real estate brokers and agents says the moderation in the market for the…
Former BoC governor Stephen Poloz warns against entrenching inflation in expectations
BANFF, Alta. – Preventing current high inflation levels from becoming embedded into the public's expectations is key if the country is to avoid falling into recession, former Bank of Canada governor Stephen Poloz said Thursday.…
More than 805,600 homes unsuitable for the number of people living there: StatCan
TORONTO — With a family of seven living in a three-bedroom townhouse and a fitness business she runs from home, Vanessa van Tol is a pro at maximizing space.The Delta, B.C., personal trainer behind Lunges and Lipstick uses her garage…
Stats Canada says Canada’s homeownership rate fell in latest 2021 census release
OTTAWA – Canada's homeownership rate is on the decline, with young adults in particular less likely to own a home in 2021 than they were in 2011, says Statistics Canada.According to the latest census release, two-thirds of Canadians…
B.C. posts Canada’s highest unaffordable housing rate, homeless fear death on streets
OTTAWA — British Columbia's high housing costs are hitting people from all walks of life, from young professionals who can't afford down payments, to students and low-income renters, to people living in tents who are afraid they will die…
Economic stimulus should have stopped earlier to tame inflation, Bank of Canada says
OTTAWA – Bank of Canada deputy governor Paul Beaudry said in hindsight, governments and central banks should have withdrawn stimulus measures earlier as economies recovered from the COVID-19 pandemic, which likely would have kept a lid…