RETIREES TAKING A LARGE CHUNK OF THE RENTAL MARKET
One third of Canadian households are renters. And although it’s a common belief that older people are big on property ownership, a key part of the renting pool are Gen Xers and boomers. New census data released by Statistics Canada show renters by individual and by age, instead of household. In Vancouver and Toronto, 30 per cent of individuals over the age of 55 are renters. “This is the first time this population has been broken down by age and made available, so we learn a little more about...
read moreWEEK OF JULY 1 2024 NEWSREEL WITH VANESSA TOPPLE
This week a government program negatively affecting housing. The Federal Temporary Foreign Worker Program and its abuses....
read moreCANADIAN POPULATION EXPECTED TO HIT 63 MILLION BY 2073, LIFE EXPECTANCY FALLS FURTHER
Canada’s population is expected to slow in growth but still add a whole lot of people. Statistics Canada (Stat Can) data released this morning shows they expect growth to slow. The population is expected to hit 63 million people by 2073, driven almost exclusively by migration. At the same time, the country’s older population is set to explode, which will lead to pressure on resources such as healthcare. Pressures will be less pronounced after they reach their demographic peak, but that will...
read moreB.C. SEES RECORD STRETCH OF PEOPLE MOVING OUT-OF-PROVINCE – AND MANY ARE HEADED TO ALBERTA
B.C. has recorded its largest period of interprovincial migration losses in 20 years, with more than 12,800 people moving elsewhere in Canada since July 2022, according to Statistics Canada. It’s the first time in a decade B.C. has seen 15 months in a row of more people moving out-of-province than it gains — and most are moving to Alberta in the exodus, StatsCan said Tuesday. From July to September 2023, B.C. lost net 4,634 people to other provinces, its second-greatest quarterly dip...
read moreNOVA SCOTIA TO OVERHAUL PUBLIC HOUSING RENTS: WHAT YOU NEED TO KNOW
Nova Scotia is overhauling its public housing rent system, transitioning fixed-rate rents to an income-based model for over 1,400 tenants. The changes will mainly affect tenants with higher incomes, who will see their rents rise gradually over the next few years. Housing minister John Lohr said the new model aims to create a “fairer and more consistent” system. Under the new system, tenants with higher incomes will see their rent increase by 5% annually for the first three years....
read moreONTARIO GOVERNMENT SETS 2025 RENTAL CAP FOR MOST UNITS
Rent for some homes in Ontario will be capped below the rate of inflation next year, the provincial government announced Friday. The Ministry of Municipal Affairs and Housing released its annual rent increase cap ahead of the long weekend, keeping landlords of some properties to increases of 2.5 per cent or less for 2025. The average rate of inflation, the government said, was 3.1 per cent. The cap, however, only applies to homes that were built and first occupied before Nov. 15, 2018. The...
read moreWEEK OF JUNE 24 2024 NEWSREEL WITH VANESSA TOPPLE
A look at Federal government regulations and policies – how they haven’t moved the needle on housing and a recent article summarizing that the solution is for government to get out of the housing industry completely. ...
read moreFOUR OF CANADA’S RED PARTY LEADERS INVESTED IN REAL ESTATE
Four of the leaders of Canada’s five parties in Parliament are landlords and/or invested in real estate (or have spouses that are), according to new data examined by The Maple. MPs are required to complete public disclosure reports that include property they own and additional sources of income and investments. These reports tell us if our elected representatives, and/or their spouses, are landlords/invested in real estate. The Maple has gone through all this data and identified which...
read moreHAMILTON TO STRENGTHEN TENANT PROTECTIONS BY ADOPTING BYLAW PREVENTING ‘DEMOVICTIONS’
The Ontario city that introduced a first-of-its-kind renoviction bylaw in the province is about to expand the protection and prevent landlords from evicting tenants so they can demolish apartments and turn the properties into condominiums. Hamilton, Ont., is a step away from implementing a Rental Housing Protection By-law that will seek to preserve its supply of existing affordable housing by adding more conditions for landlords and developers seeking to take down midsize apartment buildings...
read moreCHANGES COMING FOR TENANTS PAYING FIXED RENT IN NOVA SCOTIA’S PUBLIC HOUSING UNITS
Nova Scotia is changing the rules for those who pay a fixed amount of rent for public housing, a move the government says is aimed at achieving fairness and consistency. Housing Minister John Lohr made the announcement Thursday, saying that over the next four years, 1,445 public housing tenants — about 13 per cent of the total — will start paying rent based on their household income, which means they could be paying more or less than they are now. Lohr said the other 87 per cent of tenants...
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