LA Apartment Sales Plummet 50% as Investors Confront New Taxes, Higher Costs
Every submarket saw an increase in vacant units and a decline in year-to-date sales volume in the second quarter. Construction, interest rates, eviction protections, also define 2023. Los Angeles’s housing landscape is experiencing the confluence of a slew of new era-defining changes taking effect this year, thus redefining the rental market for the city’s 3.3 […]
Canada needs 5.8 million new homes by 2030 to tackle affordability crisis, CMHC warns
The Canada Mortgage and Housing Corp. (CMHC) says 3.5 million more homes need to be built by 2030 to reach affordability. The agency released a report Thursday explaining the need for a different approach to the housing supply shortage at a time of rising demand and affordability concerns. “Increasing supply will be difficult. Critically, increasing […]
Nearly 3,000 people oppose large condo development in Mississauga
The fight against a proposed 703-unit condo development in a Mississauga residential neighbourhood continues. In May, residents filled council chambers to voice their opposition against a proposal from Queenscorp for a 703 residential-unit development with commercial space at 4099 Erin Mills Parkway. The development would replace a retail plaza with an Iqbal Halal Foods grocery […]
Seniors’ empty homes and amortization periods going too far:
For many seniors, it’s easier to live in big, empty homes than to downsize More Canadians are living in larger homes with empty bedrooms than before, a Globe analysis of census data shows. The phenomenon suggests more people are staying in place as they age, rather than downsizing, reports Rachelle Younglai. The lack of housing alternatives […]
Let’s face it, solving Canada’s housing crisis will be unpopular and difficult
David Jones is a policy analyst and economist. He is studying public policy at the Munk School of Global Affairs & Public Policy, University of Toronto. Why is Canada’s housing crisis so hard to fix? Like many public policy issues it is, of course, a complex problem. Government housing funding cuts in the 1990s and […]
Why Canada’s housing squeeze could be worse than we thought
Ottawa’s ambitious target to substantially lift the number of new immigrants has raised concerns about whether Canada has enough housing to accommodate them. The housing shortage in this country is well known and governments on all levels have released plans to bolster the supply. Canada Mortgage and Housing Corporation estimated in June that an additional 3.5 million housing units […]
67% Of Home Builders, Developers Say They’re Building Fewer Units As Market Slows
Though builder confidence rallied slightly in Q2, the industry “remains downbeat” amid interest rate headwinds, with 22% of Canadian home builders reporting cancelling projects entirely. The Canadian Home Builders’ Association (CHBA) released its Housing Marketing Index(HMI) for Q2-2023 on Wednesday, revealing that while builder confidence rallied slightly in the quarter, the industry “remains downbeat” amid interest […]
22 per cent of Canadian homebuilders cancel projects amid high rates despite severe housing shortage
Rate hikes will continue to keep building momentum “muted,” report finds, sparking calls for an “all-hands-on-deck approach” to housing crisis. At a time when Canada desperately needs to build more housing — and Premier Doug Ford is opening up part of the Greenbelt to be developed — the construction industry “remains downbeat” amid high interest rates, with […]
Clevelander Hotel Wants to Add Affordable Housing to Miami Beach’s Ocean Drive
Something quite different could be coming to Ocean Drive, Miami Beach’s famed promenade: affordable housing. The owner of the Clevelander Hotel, the Jesta Group, has proposed converting the property into a residential building, of which 40 percent of units will be priced affordably. The percentage of units is just enough to bypass local building restrictions thanks to […]
