45 h. ago RESCON: Lack of affordable homes is only part of the problem

Layoffs in the home building industry have already started, and Ontario has shed nearly 12,000 construction jobs over the last year When individuals and households that make six-figure incomes can’t afford to buy a home in the city where they work, it’s a problem. Sadly, that’s now the case in Greater Toronto and Hamilton Area […]

Culture

5 d. ago Shortage of homebuyers forces many sellers to lower prices or walk away as sales slump drags on

LOS ANGELES (AP) — Skyrocketing housing values and a shortage of homes on the market gave homeowners the upper hand for years when it came time to sell. That’s no longer a given. Across the country, it’s getting tougher for sellers to drive a hard bargain. A dearth of home shoppers who can afford to […]

Economics

9 d. ago Here's what you have to earn per hour to afford living in Toronto

Interest rates have eased, the pace of inflation is slowing (though prices are still on the rise), real estate values are plunging, and rent prices are lower than they've been in years.But, it's still nowhere near cheap to live in Toronto, and many people's salaries just aren't keeping up with how the price of goods, services and housing have escalated over the last five years.To float the typical home in the GTA, one needs to rake in more than a staggering $204,000 per year to cover the necessary monthly payments. And, even if you're not locked into an account-draining mortgage, you still have to bring home a hefty sum of cash to afford the average apartment.A new report from researchers at the Canadian Centre for Policy Alternatives (CCPA) estimates that to comfortably cover a one-bedroom unit in Toronto and still have enough left over to fund basic life expenses, one must earn at least $37.66 per hour — more than two times t...

Other

9 d. ago Here's what you have to earn per hour to afford living in Toronto right now

Interest rates have eased, the pace of inflation is slowing (though prices are still on the rise), real estate values are plunging, and rent prices are lower than they've been in years.But, it's still nowhere near cheap to live in Toronto, and many people's salaries just aren't keeping up with how the price of goods, services and housing have escalated over the last five years.To float the typical home in the GTA, one needs to rake in more than a staggering $204,000 per year to cover the necessary monthly payments. And, even if you're not locked into an account-draining mortgage, you still have to bring home a hefty sum of cash to afford the average apartment.A new report from researchers at the Canadian Centre for Policy Alternatives (CCPA) estimates that to comfortably cover a one-bedroom unit in Toronto and still have enough left over to fund basic life expenses, one must earn at least $37.66 per hour — more than two times t...

Other

1 week ago Canada needs to build homes in record numbers for a decade to drive down prices

Canada must deliver 3.2 million net new housing units by 2035 to close the country's supply gap, according to a new updated analysis by the Government of Canada's Parliamentary Budget Officer (PBO).That works out to about 290,000 net new homes per year — a pace the country has never sustained. Net new takes into account the homes that have been demolished to make way for new additional homes.The report comes as household formation surges and then slows. After hitting a record 482,000 new households in 2024, the PBO projects a sharp decline in 2025 and 2026 due to recent federal policies curbing immigration. Household formation is expected to remain well below the historical average of 176,000 per year until 2030.On the construction side, the PBO expects a short-term boost, with completions averaging 256,000 units annually over the next three years. But beyond that, housing starts are forecast to fall back to historical norms, with about 2.5 million new units delivered ...

Economics

2 w. ago Lack of affordable housing, addictions driving homelessness in Winnipeg: report

The point-in-time count, first conducted in 2015, attempts to measure and understand the circumstances of the city's homeless population.

Other

2 w. ago Opinion: New national housing push offers the chance — and an obligation — to get it right

When Prime Minister Mark Carney called out “build, baby, build” to the cheering crowd on Canada Day, it was more than a rallying cry. It was federal policy. A key part of the government’s plan is to double the number of homes — faster and more affordably — with the help of a new crown […]

Society

2 w. ago 'Do they want us all on the street?': Eviction can mean homelessness for Ottawa seniors

Seniors are becoming the new face of the renovicted. And if they lose their homes, many can't afford a new place to rent.

Other

3 w. ago Alberta shows advantage in building homes to restore affordability

New CMHC study forecasts nation needs to almost double construction pace with Edmonton, Calgary among key cities for growth.

Other