Housing

The dorms are full and students have nowhere to go

You’ve got your textbooks, LED light strips, and a fern that you’re definitely going to take care of this time, but if you’re heading back to college or university this week, there may be one small thing you’re missing: somewhere to live.

Driving the news: Soaring rents and a shortage of on-campus residences are making it virtually impossible for many of the country’s 1.5 million post-secondary students to secure housing before classes begin this week.

TD’s crystal housing ball

The phrase “short-term pain, long-term gain” has never been more true for homeowners.

No vacancy for Canada’s students

Forget heavy courseloads and unrequited crushes, Canadian post-secondary students have a bigger problem as they head back to school this year: Finding somewhere to live.

Another way to save for a home is on the way

RRSPs and TFSAs better move over, because there’s a new registered savings account in town: it’s the Tax-Free First Home Savings Account (FHSA) and everyone’s talking about it. 

Driving the news: New details about the design of the FHSA released by The Department of Finance show it will work like a souped-up TFSA or RRSP, combining some of the advantages of each.

No house, no payments

Don’t get any ideas, but homeowners in China are boycotting their mortgage payments. 

Canadian rents return to pre-pandemic highs

Sure, it may be very expensive to buy a home in Canada, but don’t forget it’s also very expensive to rent one—and getting pricier every month, as average rents across the country have returned to their pre-pandemic high of nearly $2,000, according to new data from Rentals.ca.

Why it’s happening: The reversal of two pandemic-era trends—the flight from cities and rock-bottom interest rates—is driving the rent surge.

The housing correction picks up pace

The Canadian housing prices will fall by ~25% from recent all-time highs by the end of next year, according to a new report from Desjardins.