All Housing stories

“Alberta is calling” may have backfired

With the promise of cheap housing and good jobs filling subway and billboard ads across the country, herds of young people have moved to Alberta’s comparatively cheaper pastures. 

By the numbers: Between July 2022 and July 2023, Alberta’s four biggest cities saw almost 46,000 newcomers, more than any other province.

Ontario lands $357 million for affordable housing

The federal and Ontario governments have reached a deal that will unlock $357 million in federal funding for the province to ramp up its expansion of affordable housing projects. 

What happened: As part of the deal, Ontario submitted a revised plan that puts the province on track to potentially reach the federally mandated target of 19,660 new affordable units by March 31, 2025 — a huge departure from its last proposal, which projected only 1,184 new units in that span. 

Housing prices might soon shoot up

The housing market might be set for a comeback with expected rate cuts this summer.

Move over homeowners, renters are way more stressed

Canadian renters are showing more signs of financial stress than homeowners, according to a new report from the Bank of Canada.

Blame dirty money for why you can’t get a mortgage

As banks get fined for money laundering activity, everyday people are finding it harder to secure a mortgage.

The construction sector is building itself up

With Canada rushing to build housing, it should be no surprise that some entrepreneurial minds feel like it’s a business worth getting into. 

Driving the news: The federal government made a wave of announcements this week for housing initiatives that will feature in the 2024-25 budget. They include a $6 billion pledge for housing construction and infrastructure, and a $1.5 billion fund to protect existing rental units.

Realtors say bye-bye to big commissions

Did you hear that? It’s the sound of over a million real estate agents questioning their line of work.

What happened: Late last week, the U.S. National Association of Realtors settled an antitrust lawsuit alleging the trade group worked to artificially inflate sales commissions for years. Now, it will do away with its restrictive rules guaranteeing 6% commission for brokers.

Cities are looking for a place to park new homes

In the midst of a housing shortage, city officials are looking to build homes on top of some of the country's ~97 million parking spaces.

Driving the news: Toronto is the latest Canadian city to look into converting public parking lots into housing, following the examples of Vancouver, Calgary, Windsor, St. Catharines, and London. Roughly 74 parking lots, about a quarter of the city's lots, could be up for grabs. 

B.C. gets new money to build housing

Another day, another plan from a provincial government to do something, anything, to build more homes. 

What happened: The federal government is chipping in $2 billion worth of loans for B.C.’s new BC Builds program, aimed at boosting the construction of affordable rental housing for middle-class renters.

Canada’s housing shortfall just got shorter

We have a recommendation for a special advisor on the Canadian housing crisis: the Count from Sesame Street

Driving the news: The widely cited estimate that Canada will need 3.5 million extra housing units by 2030 to achieve housing affordability could be short by as much as 1.5 million, per a new report from CIBC economist Benjamin Tal, due to underestimated population growth.