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Real Estate
Canada’s millennials still dream of home ownership – and make it happen
Millennials dream of home ownership. In expensive cities like Toronto and Vancouver, they’re saving up to buy homes by living with their parents or taking on tenants once they save up enough to buy.
(Shutterstock)
Jane Londerville,…
Virus pummels commercial real estate, could end long boom
NEW YORK – Americans are likely to see more ''for rent'' signs in the coming months as many businesses devastated by the coronavirus pandemic abandon offices and storefronts and potentially end a long boom in the nation's commercial real…
B.C. proposes ‘first step’ amendments to laws governing condo insurance
VICTORIA — The B.C. government says it's taking the first steps to address concerns about sky-high costs and the availability of insurance for condominiums that have seen premiums rise by as much as 50 per cent.Housing Minister Selina…
CMHC reports projections for housing activity in Canada’s largest urban centres
Significant employment and income declines, coupled with uncertainty over the future trajectory of the virus and employment and income conditions, will lower demand for housing in 2020 reports Canada Mortgage and Housing Corporation (CMHC).…
Investment in building construction plunged 45.9% in April: Stats Can
According to a Statistics Canada release, investment in building construction plunged 45.9% to $8.4 billion in April compared with the previous month. Previously, the largest national decline on record for the current series (which dates…
B.C. report says condo insurance market ‘unhealthy,’ premiums up 40 per cent
VANCOUVER — The insurance market for an estimated 1.5 million people living in condominiums and townhouses in British Columbia isn't healthy with premiums rising by 40 per cent year over year, says a government-commissioned report.The…
Canadian home sales and new listings on the rise in May: CREA Report
Statistics released by the Canadian Real Estate Association (CREA) show national home sales and new listings were up noticeably in May 2020 compared to April.Home sales recorded over Canadian MLS Systems rebounded by a record 56.9 per…
Liberals look at buying distressed buildings to save stock of affordable housing
OTTAWA — A new analysis of the country's stock of affordable housing suggests the Liberals' decade-long strategy to provide more of it is starting in a deeper hole than previously thought, and may be further behind once the COVID-19…
Average rent declines 1.4% monthly in Canada: national rent report
According to Rentals.ca and Bullpen Research & Consulting’s latest National Rent Report, the average monthly asking rent for all property types in Canada was down 1.4 per cent in May over April to $1,814.Toronto rents have declined…
A room with a bleak view: Hoteliers forecast more pain, demand government action
Each day, SoHo hotel general manager David Kelley hears the sound of his footsteps echoing off the marble floors and panelled walls as he walks across the lobby, a space as empty as the 89 rooms above him.''It is very quiet. We keep it…