On behalf of Families, Children and Social Development Minister Jean-Yves Duclos (Québec, Que.), Liberal MP Larry Bagnell (Yukon) announced that two Yukon developers have been awarded capital funding support for the construction and operation of affordable rental housing projects in Whitehorse and Dawson. Chief Isaac Incorporated, the business arm of the Tr’ondëk Hwëch’in First Nation, will … Read more
Canada Mortgage and Housing Corporation (CMHC) released its 2015 Annual Report titled “Why Housing Matters”. As part of building a stronger CMHC, 2015 saw the Corporation make important progress in addressing housing market data gaps, assist 546,400 households through long-term commitments and insure mortgage loans for 304,518 homes – all of which helped Canadians meet their … Read more
Parliamentary Secretary to the Minister of Justice and Attorney General of Canada Sean Casey (Charlottetown, PEI) along with Tina Mundy, Prine Edward Island Minister of Family and Human Services, made a funding announcement $1.35 million over the next three years for affordable housing across the province. An additional seventy five units will be funded through rent … Read more
Overvaluation is detected in nine Census Metropolitan Areas and overbuilding in seven, according to the latest Housing Market Assessment released by the Canada Mortgage and Housing Corporation. Nationally, CMHC detects moderate evidence of overvaluation. CMHC defines evidence of problematic conditions as imbalances in the housing market. “While we see weak evidence of problematic conditions overall … Read more
More than 20 people now have a safe, affordable place to live at Revelstoke Community Housing Society’s new townhouse complex, which celebrated its official opening. The housing complex provides 12 units of affordable housing for families and individuals with low to moderate incomes. The townhouses are comprised of four two-bedroom units and eight one-bedroom units, … Read more
Canada Mortgage and Housing Corporation announced that the trend measure of housing starts in Canada was 196,783 units in March compared to 201,618 in February. “Overall, starts were trending lower in March due to a slowdown in multi-unit construction,” said Bob Dugan, CMHC chief economist. “This was the case across the country, except in British Columbia … Read more
Canada Mortgage and Housing Corporation released its latest Housing Market Insights report on the topic of foreign ownership in Canada’s housing markets. The report looks at the share of foreign ownership by the age of structure. Findings reveal that share of foreign ownership is most prominent in new condominium apartment structures in Toronto and to a … Read more
Condominium investors in Vancouver and Toronto display stable characteristics over time. Most are small-scale investors that own only one secondary unit, nearly one-half purchased their last secondary unit for rental income and most expect to own their investment property for more than five years, according to Canada Mortgage and Housing Corporation (CMHC) 2015 Condominium Owners … Read more
The trend measure of housing starts in Canada was 198,880 units in February compared to 199,107 in January, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. The full release is available online. Housing starts in St. John’s, … Read more
On behalf of Families, Children and Social Development Minister Jean-Yves Duclos (Québec, Que.), Public Safety Minister Ralph Goodale (Regina-Wascana, Sask.) along with Christine Tell, Saskatchewan Minister of Corrections and Policing, and Regina Mayor Michael Fougere celebrated the opening of Sterling Manor Apartments. The Federal and Provincial Governments, through CMHC and SHC, are jointly contributing $1.2 million towards the … Read more
