In Toronto, even low-rise homes are losing their affordability.
In its monetary policy report released yesterday the Bank of Canada admitted that some of our markets are far from a soft landing.
Developers are building more two-bedroom condos in response to the demand from families and young professionals.
The Canada Mortgage and Housing Corporation admits it has little knowledge of the level of foreign investment in the real estate market but insists that it’s not a problem.
The property transfer tax introduced in Vancouver in the 80s is out of date and adding an unfair burden on buyers.
Calgary is booming with the ever-growing population driving increased construction in the city.
The president of the Canada Mortgage and Housing Corporation says that they are not alarmed by high prices and insists that the market is robust.
New quarterly figures form Statistics Canada show that investment in non-residential building construction increased 1.2 per cent to $13.1 billion in the third quarter.
Credit rating firm Moody’s says that Canada’s economy is in good shape; with a stable banking system and a near-balanced budget; but there is concern over the housing market.
The latest figures show that Canada’s inflation was under control in September.
Business groups are angry that tax breaks on commercial property will be withdrawn pending an appeal on split-use land assessments.