With the federal election mere days away, the topic of housing affordability – and just what the next sitting government plans to do to alleviate it – continues to be at the top of Canadians’ minds.
According to the survey results, newcomers account for 21% of all homebuyers in Canada. If the international migration level remains the same, newcomers are expected to buy 680,000 homes in Canada over the next five years.
The International Monetary Fund has confirmed what nearly everyone in the Greater Toronto Area’s new home building industry has been saying for the last few years - more supply is the answer to the affordability crisis.
A group of British Columbia real estate organizations recently made recommendations to the leading federal parties to help address housing issues in the province, and there are a couple ideas that seem like they might work in the GTA too.
You think Toronto’s residential rental market is tight now? According to a recent report from the Royal Bank of Canada, the demand for rent is only going to get stronger, and there’s not enough inventory to accommodate it.