Housing collapse in Canada unlikely

Significant differences between Canada today and the 2008-2009 U.S. housing market crash: CPA Canada report

Housing collapse in Canada unlikelyThe biggest risk to Canada’s housing market has always been its most obvious risk: a high household debt-to-income ratio. A report released on Monday by CPA Canada (Chartered Professional Accountants Canada) cited a recent Bank of Canada study estimating that the total household debt-to-income ratio exceeds a record 170 per cent. But it also says…

Young entrepreneur crowdfunding to launch home in a bag concept

Prototype aims to provide protection and connection for those who are affected by displacement and natural disaster

A former Calgary Bow Valley College student is testing out his “LO8OP Home in a Bag” concept until the end of the month to brave the elements and raise money to move the idea to commercial production. Micah Louison, 24, is camping outside his family’s northeast Calgary home in the Bridgeland area until the end of…

Millennials giving up on ever owning a home in a Canadian city

It now takes 53.5 per cent of your income to service the costs of buying a single-family home

Millennials giving up on ever owning a home in a Canadian cityThe proportion of household income needed to service the costs of a single-family home grew to 53.5 per cent in the first quarter of 2018, according to a report released Wednesday. And that is one reason Canadians, especially millennials, are abandoning their dream of ever owning housing in the city and and are now looking to…

Mortgage stress test suppressing housing activity, says report

A Mortgage Professionals Canada report says the effects of federal policies are especially concerning in areas already dealing with economic instability, notably Alberta

Mortgage stress test suppressing housing activity, says reportA report by Mortgage Professionals Canada says new federal government policies are suppressing housing activity in the country. The Report on the Housing and Mortgage Market in Canada, which was released on Wednesday, also said the overall strength of consumer sentiment has been weakened by increasing interest rates and the new rules making it more…

CMHC mortgage changes aimed at helping self-employed own homes

Changes target Canadians who may have difficulty qualifying for a mortgage as their incomes may vary or become less predictable

CMHC mortgage changes aimed at helping self-employed own homesCanada Mortgage and Housing Corp. is making it easier for self-employed people to own homes. The federal agency has introduced some changes to help self-employed Canadians who may have difficulty qualifying for a mortgage as their incomes may vary or become less predictable. The CMHC said on Thursday that self-employed Canadians represent about 15 per…

City hall holds the key to solving Canada’s urban housing crisis

As centres for jobs, education and innovation, municipalities play an outsized role in Canada’s continued prosperity

City hall holds the key to solving Canada’s urban housing crisisBy Kenneth P. Green and Josef Filipowicz The Fraser Institute For mayors, councillors and city staff in Canada’s largest cities, housing affordability is – or should be – top of mind. With the cost of owning a home out of reach for many, and the ability to rent hampered by virtually non-existent vacancies in the…

Irregular and illegal migrants, and ill-informed Canadians

More people now enter Canada illegally than those who make legal refugee claims

Irregular and illegal migrants, and ill-informed CanadiansHumour can make something as mundane as a no parking sign, more tolerable. For example, have a look at these signs. “Handicap Parking. Stupidity is not a handicap. Park elsewhere.” “No Parking. Violators will be shot. Survivors will be shot again.” “Veterinary Hospital Parking only. All others will be neutered.” “Crunch Zone: Cars parked here…

Saskatchewan budget misses opportunity on rental housing assistance

It’s more effective to supplement rents in times of high vacancy because each dollar spent gets the tenant more

Saskatchewan budget misses opportunity on rental housing assistanceIn the recent Saskatchewan budget, the government made the surprise announcement that it would slowly phase out a rental housing assistance program known as the Saskatchewan Rental Housing Supplement. Given current rental housing market realities, the government ought to have done the complete opposite and expanded the program. High vacancy rates create a desirable climate…

In Florida, they’re snowbirds, in B.C., they’re speculators

Penalizing foreign homebuyers fails to address the fundamental problem: a lack of available houses

In Florida, they’re snowbirds, in B.C., they’re speculatorsBy Josef Filipowicz and Steve Lafleur The Fraser Institute Florida is a popular destination for retirees and vacationers. Not surprisingly, many people from colder northern states and Canada either rent or own property in Florida to escape harsh winters. In fact, temporary residents in Florida (also known as snowbirds) number more than one million by…

How B.C. can escape its painful housing trap

Instead of targeting affordable housing, B.C. government should be targeting housing affordability

How B.C. can escape its painful housing trapBy Josef Filipowicz and Steve Lafleur The Fraser Institute The B.C. government’s recent budget included a 30-point plan aimed at the province’s housing woes. The aim was off the mark. Most of the plan’s points fit into two broad categories: reducing demand by raising property transfer taxes, for non-residents and on homes over $3 million,…
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