WEEK OF NOVEMBER 11 2024 NEWSREEL WITH VANESSA TOPPLE
With the BC elections finally over, we jump to the other coast to see how the Nova Scotia election is shaping up....
read moreTRUMP ELECTION WIN WREAKS HAVOC WITH RATE-CUT EXPECTATIONS GLOBALLY
Central bankers the world over are gauging whether their worst fears over Donald Trump will come to pass following his resounding return to the U.S. presidency. Trump has promised levies on U.S. imports that would upend global trade, tax cuts that would further stretch the federal budget and deportations that could shrink the pool of cheap labour. That poses two main risks: Slower economic expansion around the world and faster inflation at home that would make the United States Federal...
read moreOCTOBER JOBS NUMBER COMES IN BELOW EXPECTATIONS
Here are five things you need to know this morning: Canada adds half as many jobs as expected: There’s more evidence this morning that Canada’s economy is slowing, coming in the form of Statistics Canada’s monthly reading on jobs. The data agency says the economy added 14,500 new jobs in October. That’s a slowdown from the more than 47,000 in September and about half the 28,000 that economists were anticipating. It’s the weakest jobs number in seven months and brings the rolling 12-month tally...
read moreVANCOUVER WAS ORDERED TO BUILD 1,405 AFFORDABLE RENTALS OVER THE PAST YEAR. ONLY 313 WERE COMPLETED
Vancouver fell short of meeting the province’s housing targets for the last year, mostly due to a failure to meet the goal for affordable rentals, according to a report coming to city council. B.C. passed the Housing Supply Act last September, giving the province the authority to set a minimum number of net new units to be completed by municipalities over a five-year period. In Vancouver, the target set for the first year, from Oct. 1, 2023 to Sept. 30, 2024, was 5,202 units. In that...
read moreTORONTO REPORT RECOMMENDS FEE REDUCTIONS, OTHER STEPS TO CREATE NEW RENTALS
Of that total, the city would commit to build 7,000 rental homes through its own resources. The staff report is titled Build More Homes: Expanding Incentives for Purpose-Built Rental Housing. Among the recommendations, the city is proposing a new purpose-built rental homes incentive to move rentals through the pipeline and into construction. The program, developed in partnership with all orders of government, will advance the city’s own targets of 41,000 affordable rental homes, targets under...
read moreWEEK OF NOVEMBER 4 2024 NEWSREEL WITH VANESSA TOPPLE
Toronto city staff announces bold plan intended to inject life into the multi residential development market....
read moreCANADIAN PERMANENT RESIDENT APPLICATIONS FALL 57%, WEAKEST MONTH IN YEARS
Canada plans to limit permanent resident visas next year, but they’re already plunging lower without restrictions. Immigration, Refugees and Citizenship Canada (IRCC) data shows permanent resident applications made a sharp drop in July. Even if the current trend stops eroding and stabilizes, the country would struggle to hit next year’s planned limits without any policy changes. A problem that policymakers would have been aware of when they decided to make the announcement. Canadian Permanent...
read moreN.S. POLITICAL PARTIES ALL TRY TO MAKE AFFORDABILITY THEIR ISSUE
In the three years since Nova Scotia’s last election, rent and mortgage payments have risen, sticker shock has become a common experience at the grocery store and homelessness has skyrocketed. Tammy Brunet is one of the many Nova Scotians who is struggling in the face of those realities, and her experiences with housing and the surging cost of living are now shaping her interest — or rather, apathy — in provincial politics. Earlier this year, Brunet’s landlord told her she had to...
read more2024 ONTARIO FALL ECONOMIC STATEMENT: DEFICIT CUT TO $6.6B, FEW NEW INITIATIVES
As the Ford government aims to advance an agenda centred around building Ontario infrastructure and jobs, officials have unveiled few new initiatives beyond what was previously announced in the 2024 budget as they slash the projected deficit by more than $3 billion. In the 2024 Ontario fall economic statement unveiled at Queen’s Park Wednesday afternoon, the government is currently set to run a $6.6-billion deficit for the 2024-2025 budget year as it’s on track to spend more than $218 billion....
read moreEDMONTON LEADS IN HOUSING METRICS
In an earlier blog this year, I discussed the Edmonton Region’s rapid and unprecedented population growth. Since writing that post, it looks like growth has accelerated and is set to surpass 2023 levels in 2024. While this influx adds pressure to services like infrastructure and education, the Edmonton Region appears to be responding effectively in one crucial area: housing. Housing Affordability As explored in another one of my past blogs, Edmonton continues to rank among Canada’s most...
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