Canada Housing

Hamilton Real Estate Has Finally Made It To The Big Time

YPNextHome | Posted 01.09.2017 | Canada Business
YPNextHome

Yes, thanks to insane prices and eroding affordability in Toronto, Hamilton - just 60 kilometres away - has been quietly building a reputation of its own as an up-and-coming real estate market.

Vancouver Ends 2016 With Drop In Home Sales, Rise in Prices

CP | The Canadian Press | Posted 01.05.2017 | Canada British Columbia

It was a tumultuous year.

How Weak Housing Supply Is Worsening Housing Affordability

Murtaza Haider | Posted 01.03.2017 | Canada Business
Murtaza Haider

The slump in new housing construction in the GTA, which is the worst observed in the past 15 years, can be addressed if one were to understand the fundamental axioms of urban economics. The land is a heterogeneous good whose fertility (profitability) varies widely over space. The provision of low productivity land in undesirable remote places does not qualify as land supply.

Ottawa Is Flirting With A Policy Disaster

Will Dunning | Posted 12.23.2016 | Canada Business
Will Dunning

The objective of that policy is to reduce mortgage lending. It means that a potential home buyer who can comfortably afford the costs of buying a home (based on their actual mortgage interest rate, which will usually be less than three per cent) might not be able to get financing, because of a new, very high "stress-test" hurdle (using an interest rate that is currently 4.64 per cent, and far above actual market rates).

Don't Want More Debt? You 'Don't Live In Real World,' Clark Says

The Huffington Post Canada | Emma Paling | Posted 12.20.2016 | Canada British Columbia

If a bank can trust a lender, so can the government, she said.

Micro Condos Are Still Trending In Canada

YPNextHome | Posted 12.13.2016 | Canada
YPNextHome

Housing costs continue to soar in Canada's priciest real estate markets -- in spite of provincial and federal action to slow housing activity in Toronto and Vancouver. This has left many hopeful home buyers priced out of the average detached home market. Even larger condo units are picking up speed in price.

Poverty Is The Expensive Root Of Many Illnesses In Canada

Gary Bloch | Posted 12.12.2016 | Canada Politics
Gary Bloch

But the biggest barrier to ending poverty is the political orthodoxy we have lived by for the past 40 or more years, grounded in austerity: That good government is small government, that social programs must shrink and that taxes are evil. It is over this period that we have seen the most dramatic rise in poverty rates and income inequality, with a concentration of wealth in the top 1 per cent. It's time for a rethink.

Another Apology Is Needed From Kathleen Wynne

Marvin Ross | Posted 12.08.2016 | Canada Politics
Marvin Ross

How long does it take the Ontario Government from the time they decide a program is needed until they actually finalize implementation? It sounds like a joke but it isn't and it is one issue raised in the 2016 Ontario Auditor General's report. The answer is close to three decades provided there are no further missteps and/or delays.

Can Ottawa Deliver On National Housing Strategy?

YPNextHome | Posted 11.29.2016 | Canada Politics
YPNextHome

Canadians spoke loud and clear. They want a strong, collaborative national housing strategy to facilitate housing for those most in need, address the unique challenges facing indigenous peoples, eliminate homelessness, make housing more affordable and improve data collection, analysis and research.

Top 10 Places To Invest In Canada

YPNextHome | Posted 11.23.2016 | Canada Business
YPNextHome

With search terms such as "How to move to Canada" and "How to become a Canadian citizen" skyrocketing on Google during and after the election, Canada is on Americans' radar now more than ever. Now might be a good time to buy investment real estate.

What Should Canada's National Housing Strategy Look Like?

YPNextHome | Posted 11.16.2016 | Canada Politics
YPNextHome

There's less than one week to go until the federal government tables its national housing strategy report on November 22, following months of consultations with the provinces and territories, industry experts and everyday Canadians. What will, or should, our national housing strategy look like?

The Sorry State Of Canadian Housing

Dan S. Barnabic | Posted 11.16.2016 | Canada Business
Dan S. Barnabic

Notwithstanding foreign buyers, surcharges and tightening qualification measures, it is quite evident that Ottawa has been complacent in allowing foreign buyers to buy up the roofs over our heads. Indeed, with little else to sell, our economy has depended on it.

Ontario's Urban Growth Shouldn't Be An Either-Or Proposition

Murtaza Haider | Posted 11.04.2016 | Canada Politics
Murtaza Haider

A balanced growth policy that respects and promotes sustainable development along with supplying more affordable shelter for families will help to ensure that the GTA grows while maintaining its competitive advantage in the global marketplace.

Building A National Housing Strategy Is Easier Said Than Done

YPNextHome | Posted 11.01.2016 | Canada Business
YPNextHome

The next several weeks are crucial in Canada's housing market. Ottawa's Let's Talk Housing initiative wrapped up consultations in late October, and is now working toward tabling the results on Nov. 22. But for anyone expecting a full-on housing policy on that date -- best not hold your breath.

NIMBYs Should Say 'Yes' To Development In Their Backyard

YPNextHome | Posted 10.25.2016 | Canada Business
YPNextHome

If you're lucky enough to own a small slice of the GTA's pricey property pie, you could find yourself among those vehemently opposed to any new development in their neighbourhood. After all, established Toronto hot spots like The Annex, Bloor West Village and Mount Pleasant are full, right? But here's the problem.

Housing Must Be Seen As A Basic Human Right

Zarah Tinholt | Posted 10.25.2016 | Canada British Columbia
Zarah Tinholt

Recognizing housing as a fundamental human right could be viewed as a dangerous proposition for many who treat housing as a business. It opens the door for lawsuits against both businesses and governments who fail to take the issue seriously.

Why Now May Be The Best Time To Lock-In Your Mortgage

Tim Paziuk | Posted 10.19.2016 | Canada Business
Tim Paziuk

While the federal government is trying to rein in some of the borrowing that's taking place by making it more difficult to borrow, every one of us should take heed -- interest rates will rise. I believe the most important thing individuals should be doing is locking in their mortgages (ideally for five years).

Could This Be The Vancouver Housing Market's Last Hurrah?

YPNextHome | Posted 10.19.2016 | Canada British Columbia
YPNextHome

Nationally, real estate markets remain healthy, with home values showing modest to strong price appreciation in almost every Canadian city. New measures introduced by the federal finance ministry on October 3, designed to cool the housing market, have led to a decline in sales in Vancouver.

Honeymoon Over For Seller's Market When New Mortgage Rules Hit

Samantha Brookes | Posted 10.06.2016 | Canada Business
Samantha Brookes

The long-running seller's market will slowly become a buyer's market due to lack of affordability, which in turn could result in decreased housing prices -- as people will no longer be able to afford homes in what were previously known as "hot markets."

Housing Plan Can Help End Hidden Crisis Of Women's Homelessness

YWCA Toronto | Posted 10.05.2016 | Canada Impact
YWCA Toronto

Women's homelessness is a significant, yet often hidden, crisis facing this country. Research shows that for every person who is absolutely homeless, there are at least three more who fall into the hidden homelessness category.

New Mortgage Rules Keep Canadians Safe From Housing Crash

YPNextHome | Posted 10.05.2016 | Canada Business
YPNextHome

Under the new mortgage rules, which take effect on Oct. 17, all new insured mortgages must qualify for the amount at a rate of 4.64 per cent, which is an average of the big banks' current posted mortgage rates. This is the case even if the rate offered by your lender is lower.

Canada's Housing Crisis Is A Public Health Emergency

Dr Ryan Meili | Posted 10.05.2016 | Canada Politics
Dr Ryan Meili

One of the biggest factors that determines whether people will stay healthy or wind up needing emergency or chronic medical care is where they live. People without access to stable housing are at higher risk of illness, and their likelihood of recovering well from that illness is greatly diminished.

Federal Government Totally Misses The Point On New Mortgage Rules

Douglas Hoyes | Posted 10.04.2016 | Canada Business
Douglas Hoyes

Under new mortgage rules just announced by Finance Minister Bill Morneau, all insured mortgage borrowers must now pass a "stress test" proving that they can carry a mortgage at a realistic rate (the Bank of Canada's conventional five-year fixed posted rate), and not simply the "teaser" rate offered for a short period by the mortgage lender.

'Rigged' Mortgages Have Made Second-Class Citizens Of Canadians

John Doble | Posted 09.16.2016 | Canada Business
John Doble

Getting a first-time mortgage from a Canadian bank is like getting security clearance to work at NORAD. Income, credit history, source of down payment funds... are all key measurements to qualifying. These rules, of course, only apply to Canadians. Foreign buyers, some have speculated this week, may be receiving preferential treatment.

What To Look For And Avoid When Buying A Home

YPNextHome | Posted 09.06.2016 | Canada Business
YPNextHome

Buyers' criteria may vary depending on their age and location. When it comes to the value of your home, however, certain neighbourhood features have very distinct influences -- positive and negative -- that you should be aware of.