Real Estate

Trudeau announces support for renters and the Home of the Week: Canadian real estate news for March 30

02/04/2024
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The four-bedroom loft is situated in The Merchandise Building, a live/work complex renovated from the shell of a 1910 brick warehouse in Toronto.Michael Peart Photography

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

Try The Globe’s business and investing news quiz

Trudeau announces renter-focused measures ahead of 2024 budget

Prime Minister Justin Trudeau announced a series of measures to help renters in Canada, including a $15-million tenant protection fund and a Canadian renters’ bill of rights, write Bill Curry and Marieke Walsh. A third measure is to amend the Canadian Mortgage Charter, so that it calls on landlords, banks, credit bureaus and fintech companies to take rental history into account when assessing credit worthiness. The government hopes that by dropping budget details in advance, it will be able to garner more attention

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Real Estate

Investor dominance in Ontario real estate and the Home of the Week: Canadian real estate news for March 23

24/03/2024
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Home of the Week, 79 Amelia St., HamiltonMichael Goencz Photography

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

Try The Globe’s business and investing news quiz

Banks to face new limits on mortgage loans above 4.5 times a homebuyer’s annual income

The Office of the Superintendent of Financial Institutions is capping the number of highly leveraged loans in the banks’ residential mortgage portfolios, instructing lenders they will have to limit the number of mortgages that exceed 4.5 times the borrower’s annual income, write James Bradshaw, Rachelle Younglai and Stefanie Marotta. The new income limit, which is expected to take effect in the first quarter of next year, comes on top of existing mortgage qualification rules. In markets like Toronto and Vancouver, prospective homebuyers often have to borrow more than 4.5 times their

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Real Estate

Allied REIT buys out Westbank on two condo projects: Canadian real estate news for March 16

19/03/2024
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Home of the Week, 80 John St., Upper Penthouse 1, TorontoJohn Lee/John Lee/Soare Productions

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

Take The Globe’s business and investing news quiz

Canadians’ wealth is bolstered by stock rally amid housing slump, Statscan says

In the fourth quarter, households saw their net worth rise by $290-billion, or 1.8 per cent, to roughly $16.4-trillion, Statistics Canada said in a report Wednesday. But many homeowners have yet to face the full brunt of higher interest rates until they renew their mortgages, writes Matt Lundy. Others have variable-rate mortgages with fixed payments, which means that as rates have increased, more of their bill is going toward the interest portion rather than paying down the principal. The looming renewals, among other factors, led Canadians to stay cautious about

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Real Estate

This Week’s Top Stories: Canadian Real Estate Prices Forecast To Fall Further & Immigration Slows

07/03/2024

Time for your cheat sheet on this week’s top stories.

Canadian Real Estate

Canadian Real Estate Prices To Fall Even In Optimistic Scenario: Scotiabank 

One of Canada’s largest banks doesn’t see rate cuts boosting home prices by next year. Scotiabank’s forecast, filed with its recent earnings report, shows prices falling by next year. Even in the bank’s most optimistic scenario, their team anticipates home prices will continue to fall over the next 12-months. 

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Canadian Immigration Slows Further As Permanent Resident Applications Crater

Canada has seen a big drop in the number of people that want to live there permanently. Applications for permanent residency fell 73% in December, continuing a trend that began earlier in the year. Rising tensions with Canada’s top sources of permanent residents is likely a contributor to the issue. However, the erosion in applications was broad—only 6 countries produced higher application counts, the largest of

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Real Estate

Limited exposure to U.S. commercial real estate giving Canadian bank investors hope. Why? - National

02/03/2024

Limited exposure to U.S. commercial real estate (CRE) is giving shareholders hope that Canada’s big banks can weather the storm that has rocked rivals in the United States and Europe.

However, investors will be on alert for signs of stress when Canada’s top six banks next week post first quarter earnings, that will continue to be pressured by high bad loan provisions.

The beleaguered U.S. CRE sector has taken a toll on banks in Europe and Asia, with borrowers at the risk of defaulting on loans as high interest rates and low occupancies hit valuations.

The recent sell-off of New York Community Bancorp has soured sentiment and dragged down U.S. peers, reviving fears of a global contagion stemming from the sector.


Click to play video: 'SVB collapse: What other US banks are at risk of failing?'


SVB collapse: What other US banks are at risk of failing?


“While the space is undoubtedly challenged … it will be largely unimpactful to the Big-6 Canadian banks

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