AMERICAN INVESTMENT FIRMS POUR BILLIONS INTO CANADIAN REAL ESTATE MARKET
The American real estate titan Hines Interests LP recently announced it is looking to invest $2 billion in Canadian real estate, focusing on apartment rental developments. Hines currently has $3.7 billion in assets under management in Canada. The nearly 70-year-old, privately held company has operated in the country for over two decades and has a mix of commercial and residential projects in its Canadian portfolio. As housing prices in Canada have increased dramatically for several years,...
read moreCANADA TO ROLL OUT NEW STEEL TARIFFS, HOME BUILDING COSTS TO RISE
Canadian home building costs surged as rates were cut, and stimulus fueled record demand. Policymakers assured households that it was just supply shortages and the inflation was transitory. Supply chains will scale up and prices will come down, eventually. That day is finally here for steel. It turns out that was never the goal. Earlier today, the Government of Canada (GoC) announced it will impose import tariffs for steel imported from China, the world’s largest producer. The politics of the...
read moreIMMIGRATION NEEDS TO RETURN TO PRE-TRUDEAU LEVELS TO SLOW POPULATION GROWTH: POILIEVRE
Conservative Leader Pierre Poilievre, currently the favourite to win the next Canadian election, says the country needs to slow its soaring population growth to better align with the growth in housing, jobs and health care. “We have to have smaller population growth, there’s no question about it,” Poilievre told reporters Thursday. He said Prime Minister Justin Trudeau has been adding new residents at “three times the rate of the housing stock.” “We need to have a growth rate that is below the...
read moreRENT IS FALLING IN TORONTO? THE HOUSING MARKET SHOWS ITS SUPPLY SIDE
The cost to rent a home in Toronto and Vancouver is falling. At the same time, the construction of new homes – especially rentals – is in a multiyear surge, compared with before the pandemic. This news doesn’t mean it is suddenly cheap to rent in the two most expensive cities in the country or that there’s enough new housing in Canada. But it does show a significant increase in the new supply can help ease prices. The market works. The shift in Toronto is particularly striking. The average...
read moreWEEK OF AUGUST 26 2024 NEWSREEL WITH VANESSA TOPPLE
On Saturday, the Federal government announced properties that are available for housing, along with a new tool for builders called the Canada Public Land Bank, the first steps under the new Public Lands for Homes...
read moreCANADIAN CONDO PRICES SEE FIRST DOUBLE DIP DECLINE ON RECORD
Canada’s condo market has provided big returns for investors, but it’s currently running on fumes. Canadian Real Estate Association (CREA) data shows the price of a benchmark, or typical, condo apartment fell in July. The investor-dominated segment didn’t see prices fall nearly as much as the general market since rates began climbing. However, condos have resumed a downturn after a short break, as rate cuts fail to bring a surge of buyers that many had anticipated. Canadian Condo Prices Slip...
read more‘DEMAND, DEMAND, DEMAND’: INVESTMENT RED HOT IN CALGARY’S RENTAL REAL-ESTATE MARKET
Investment in Calgary rental properties almost doubled over the first six months of 2024 — a response to the city’s skyrocketing population and rent prices, one expert says. The data comes amid Calgary’s third-highest six-month stretch of commercial real estate investment since 2013, showing the greatest amount of interest in rental properties and industrial land. But while greater investor interest in rental properties could be a positive signal for renters weary of increases to their monthly...
read moreTRUDEAU LIBERALS’ 2015 PROMISES ARE HURTING THE MIDDLE CLASS
The Trudeau Liberals have failed Canada’s middle class. On taxes, housing, employment, economic growth, health care and income, ordinary working Canadians are worse off than they were in 2015 when the Liberals took over. The latest proof came this week from Statistics Canada’s family income data. On the surface, the numbers from the latest available year were not that bad: “In 2022, the median family after-tax income of Canadians was $60,800.” That was “up 2.5% from 2021, before adjusting for...
read moreWEEK OF AUGUST 19 2024 NEWSREEL WITH VANESSA TOPPLE
On Friday, CMHC released their July report on housing and although there was a jump in housing starts, the reason behind it may be short lived.
read moreMONTREAL HOUSING OUTLOOK 2024
Montreal Market Report Summary The average selling price of a home in Montreal increased by 3.2% year-over-year to $533,100 in July 2024. The average selling price of a single-family home in Montreal increased by 2.3% year-over-year to $623,400 in July 2024. The average selling price of a townhouse/multiplex in Montreal increased by 3.7% year-over-year to $599,600 in July 2024. The average selling price of a condo in Montreal increased by 4.5% year-over-year to $407,400 in July 2024. The...
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