Bank of Canada governor Tiff Macklem says the central bank can’t solve the housing crisis with interest rates because the root cause is a supply shortage. Macklem faced multiple questions on housing affordability during an appearance before the finance committee on Thursday — one week after the bank yet again kept its key overnight interest rate at … Read more
The Bank of Canada says record levels of immigration are driving up the cost of housing and recent government efforts to cut the number of non-permanent residents and encourage home building will help lower housing costs, but “only gradually.” “In the short term any increase in population, particularly in an environment of constrained supply, is going … Read more
Nancy Paine’s short-term rental business is dead in the water. As co-founder and CEO of Victoria-based Superhost, Paine said she had been at the forefront of the Airbnb revolution for seven years, acting as a “liaison” for homeowners needing help with the logistics of running a listing on the accommodation site. At the peak of … Read more
