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. 

Russell Hixson on the cost of building houses

 On this week’s episode of Free Lunch by The Peak, we sat down with Russell Hixson, who writes about the construction sector, to talk about what’s driving growth in housing costs.  

Canada’s rental market breaks a not-so-great record

A new housing report has confirmed a tough truth: Canada’s rental market has become more crowded than a gym’s weight room in early January.  

Driving the news: According to new data from the Canada Mortgage and Housing Corporation, both rent prices and the number of empty rental units reached new records last year, creating the tightest rental market the CMHC has ever documented in Canada.

Is furniture store living the future of housing?

After 115 years in business, Leon’s Furniture is getting into the house-building game. No word yet on whether homes come fully furnished with brand-new pieces from the showroom.

What happened: Leon’s, the Canadian furniture chain best known for letting shoppers ho-ho-hold the payments, has received approval to rezone the 40 acres of land around its Toronto-area headquarters and build as many as 4,000 residential housing units. 

Feds call cap on international students

After months of pressure to crack down on colleges that have been accused of exploiting international students, Canada is capping study permits at about 360,000 students this year. 

What happened: The federal government is reducing the number of international student permits by 35% as part of a temporary two-year cap on foreign enrolment. The move also aims to ease some strain on Canada’s housing market and healthcare systems. 

Daniel Foch on Canada’s housing market

 On this week’s episode of Free Lunch by The Peak, we sat down with Daniel Foch, co-host of the Canadian Real Estate Investor podcast, to talk about the future of the housing market. 

Living life at sea

As the cruise industry booms, cruise lines are increasingly offering longer-term voyages to appeal to cruisers who want to leave behind the lowly life of a landlubber.

Driving the news: Major cruise lines like Norwegian and Holland America have made longer voyages part of their plans for this year, Princess’ longest voyage ever will set sail in 2025, and Royal Caribbean's ongoing nine-month cruise has become a TikTok sensation

Would you live in the woods?

Tiny towns popping up in the northern Ontario wilderness have come under government scrutiny, but their pioneer-like inhabitants insist they just want cheaper housing.   

Tiny towns popping up in the northern Ontario wilderness have come under government scrutiny, modern-day pioneers living in them insist they just want cheaper housing.