TINY SHARE OF CANADIAN HOMES ARE AIRBNBS THAT HAVE POTENTIAL TO BE LONG-TERM HOUSING
A recent StatsCan study indicates that an estimated 0.69 per cent of the country’s housing stock in 2023 was short-term rentals that had the potential to be long-term housing. Less than 1 per cent of the country’s housing stock are Airbnbs and Vrbo rentals that could be turned into long-term rentals or permanent housing, according to a Statistics Canada study. Housing experts have been trying to understand how short-term rentals (STRs) affect the housing market given that rental vacancy rates...
read moreWEEK OF AUGUST 5 2024 NEWSREEL WITH VANESSA TOPPLE
This week we cover the governments addiction to taxes, fees and regulations....
read moreCANADIAN GDP DRIVEN BY PUBLIC SECTOR, PER CAPITA RECESSION DEEPENS
Canada’s economy beat expectations but dive into the details before celebrating. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) grew faster-than-expected in May. However, even with a rapid public sector expansion driving half the advance, it failed to meet population growth. As a result, Canada’s GDP per capita recession printed an 8th consecutive quarter of losses. Canada’s Real GDP Grew Much Faster Than Forecast First, the good news—Canada’s real GDP advanced much...
read moreTORONTO EXPANDS AFFORDABLE HOUSING EFFORTS WITH $50 MILLION FUND TO ACQUIRE VACANT CONDOMINIUMS AMID MARKET GLUT
Toronto has expanded its housing acquisition programs to support the purchase of condominiums — some vacant for months and deeply discounted amid a glut of new units — to bring them into the city’s affordable housing fold. “We often get approached by people who are interested in finding partners to buy units that are currently unoccupied or available, so we have changed some of our programs to enable that to happen,” Abigail Bond, the executive director of the city’s Housing Secretariat, said...
read moreTORONTO’S CONDO MARKET IS FACING ITS BIGGEST TEST SINCE THE 1990S RECESSION
Canadian housing markets have taken some knocks over the past few years as interest rates and inflation soared, but few have had it as rough as Toronto’s condo market. While the low-rise market in the Greater Toronto Area is holding its own, conditions in the condo market are deteriorating to levels not seen in decades, says a report by Benjamin Tal, deputy chief economist at CIBC Capital Markets, and Shaun Hildebrand, president of Urbanation. Their report describes how the condo market has...
read moreOVER 100,000 SHORT-TERM RENTALS COULD BE HOMES: STATSCAN REPORT
A new report by Statistics Canada shows the country’s total number of short-term rental listings increased by more than 60 per cent between 2017 and 2023, while the number of short-term rental units that could be used as long-term housing grew by more than 80 per cent. The report identified more than 100,000 short-term rentals that could be homes. But the fact that figure makes up less than one per cent of Canada’s total housing stock, according to the data, only adds more fuel to...
read moreWEEK OF JULY 29 2024 NEWSREEL WITH VANESSA TOPPLE
This week we head out west to see how the BC – NDP government is imposing a Bill that is intended to help actually looks to be causing – not surprisingly – unintended consequences....
read moreBOSA PROPERTIES SAYS BURNABY POLICIES MAKE PURPOSE-BUILT RENTAL PROJECTS “UNBUILDABLE”
At a time when cities across Canada are in desperate need of more rental homes, well-intentioned policies in the City of Burnaby are making purpose-built rental projects unviable, says Bosa Properties, one of British Columbia’s largest developers. In a letter to Burnaby City Council dated July 2, Senior Director of Development Kyle Wright told Council that Bosa Properties had spent the past six months contemplating two 100% purpose-built rental projects — one in the Metrotown...
read moreLEGAL EXPERTS WARN TENANT RATING WEBSITES COULD UNFAIRLY LABEL RENTERS
Landlords posting tenant reviews on so-called blacklist websites is a trend some in the industry worry could add to the housing crisis. Websites like Tenantscore, Openroom and other similar blacklisting sites allow landlords and tenants to air their grievances, potentially preventing tenants from finding housing in the future. A legal expert said that even if tenants have had negative relationships with landlords in the past, it shouldn’t hinder their ability to find a place to call...
read moreMORE QUEBEC LANDLORDS REFUSING TENANTS WITH ANY RENTAL BOARD RECORD
Tenants’ rights advocates say landlords openly using records from Quebec’s housing tribunal against prospective renters is cause for concern. CBC News has reviewed dozens of postings specifically spelling out that having any record with the Tribunal administratif du logement (TAL) will influence your shot at getting the place. Some landlords are considering any interaction with the TAL as a potential red flag. The TAL enforces housing law and protects both tenants and...
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