Following a report by the Canada Mortgage and Housing Corporation (CMHC) saying Vancouver and Toronto have the slowest approval times for building new homes, Conservative Leader Pierre Poilievre pledged to speed up the process of building homes in Canada. “Slow permits mean higher prices. Higher prices mean Canadians can’t afford to put roof over head,” Mr….
Poilievre Pledges to Speed Up Housing Approval Following CMHC Report on Slow Times for Toronto, Vancouver
Canada Has Highest Household Debt Level in G7: CMHC Deputy Chief Economist
Canada has the highest level of household debt in the G7, making its economy vulnerable to a global economic crisis, according to the country’s housing agency. In an analysis published Tuesday, Canada Mortgage and Housing Corp. deputy chief economist Aled ab Iorwerth said that the country’s household debt has been rising “inexorably” due to rising…
Housing Supply Not Keeping Up With Immigration, Rents Soar
May 3, 2023
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Business & MarketsCanadaCMHCeconomic policiesGlobal Real Estatehousing supplyimmigrationreal estateWorld
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News Analysis Housing supply is not keeping up with a rapidly growing population and the problem is worsening in 2023, with a downturn in home building underway due largely to higher interest rates. The government’s higher immigration targets and record-breaking year for processing immigration applications are putting greater strains primarily on the rental market. Canada’s…
Government Can’t Solve Housing Issues Alone, Private Sector Must Be Involved: CMHC
A new report by Canada Mortgage and Housing Corp. says government alone can’t solve the country’s housing affordability challenges. The scale of the problem is so large that the private sector must be involved, says the report by CMHC deputy chief economist Aled ab Iorwerth. The national housing agency says public solutions such as rent subsidies and more social…
Federal Government Doesn’t Know If It’s Reducing Homelessness: Auditor General
Auditor general Karen Hogan says the federal government doesn’t know if its initiatives aimed at reducing chronic homelessness are actually working. In a new report, Hogan says no organization has taken the lead on the federal government’s goal of reducing chronic homelessness by 50 percent by 2028. The report says Infrastructure Canada and Employment and…
Canada’s Home Builders Grow in Confidence, Say Industry’s Success Needs Municipal Cooperation
May 11, 2022
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Business & EconomyCanadaCMHCCompaniesGlobal Real Estatehome buildingHousing Affordability FundMunicipalitiesNIMBYreal estateWorld
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Home builders in Canada have their work cut out to increase the housing supply and ease the affordability crisis, and industry participants also point to municipal-level cooperation as being critical to the solution. Home builders’ confidence is growing despite supply chain and labour challenges, according to the first-quarter release of the Canadian Home Builders’ Association…
Canada’s Housing Affordability Crisis: No Fix Without Increasing Rentals Supply, Says Economist
Housing market analysts have long pointed to a lack of supply as the key issue to resolve, and CIBC’s deputy chief economist Benjamin Tal says not enough attention is being placed on the rental market.
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