The federal government tabled its annual budget on Tuesday with a promise to open the door to homeownership for millennial and Gen Z renters. You’ll have to read the fine print to find measures for young renters who can’t buy a home — or just don’t want to. In her budget document, Finance Minister Chrystia … Read more
LOWERING THEIR ASKING RENT Real estate agents told CNA that it has become harder to find tenants today, as there are more apartments available in the market. Last year, they could close a rental deal with just one viewing. This year, however, they have observed that it takes an average of 10 viewings before they … Read more
Canada’s inflation rate went up slightly in March compared to February, with Statistics Canada pointing out gasoline prices are partly behind the increase. The federal agency’s consumer price index for March 2024 saw a 2.9 per cent increase compared to the year before. In February, that measure was at 2.8 per cent, so while March saw an … Read more
Cassandra, 40, was in for a shock debt reveal when she asked her husband, Aldo, 41, about their debt liabilities. Aldo, who works in a finance role and earns over $100,000 annually, said the debt amounted to over half a million dollars with $66,000 in collections due to months of missed payments. Cassandra and Aldo … Read more
The housing market could soon get “interesting,” economists say, as home prices and sales start to edge up, according to a pair of new reports released Friday. In its latest quarterly Home Price Update and Market Forecast, Royal LePage is forecasting that the aggregate price of a home in Canada will increase nine per cent in the fourth … Read more
A protest of around 200 residents erupted in Seattle this month after a “serial squatter” refused to leave his $2 million mansion in the upmarket neighbourhood of Bellevue. Jaskaran Singh, who owns the five-bedroom property, has launched a legal case against the squatter, claiming that the unlawful tenant owes him a staggering $80,000. A court … Read more
A surge in new apartment construction drove housing start increases in some major Canadian cities last year, but demand continues to outweigh supply, according to a report released Wednesday by the federal housing agency. The report from Canada Mortgage and Housing Corporation focuses on six major cities: Toronto, Montreal, Vancouver, Calgary, Edmonton and Ottawa. Their combined housing … Read more
The Canada Revenue Agency (CRA) is hitting pause on a new “bare trust” reporting requirement with just a few days remaining before the deadline. New reporting requirements for such trust arrangements were introduced for the 2024 tax season. Anyone with a bare trust was required to file a T3 tax return form naming the trustees, … Read more
The traditional mortgage lending industry has witnessed a seismic shift as non-traditional lenders, including fintech startups and peer-to-peer platforms, gain traction in the market. This surge in alternative lending options reflects a growing demand for more accessible and flexible financing solutions, especially among borrowers who may not meet the stringent criteria set by conventional lenders. … Read more
In an unexpected turn of events, existing home sales in the United States surged in February to the highest level in a year, defying expectations of a slight decline. According to data from the National Association of Realtors (NAR), sales of existing homes, including single-family homes, townhomes, condominiums, and co-ops, rose by a notable 9.5% … Read more
