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Real Estate

  • News
    Reuters

    Canada's federal budget set to allocate billions to tackle housing crisis, says minister

    Canada's federal budget, due next month, is likely to allocate billions of dollars for investing in building homes and low cost housing programs, Housing Minister Sean Fraser said on Monday. Canada faces a housing affordability crisis as a rapidly increasing immigrant population has far outpaced the number of available homes. "I don't want to necessarily preview what's going to be revealed in the upcoming federal budget, but there needs to be very substantial investments (for housing)," Fraser told the media on the sidelines of a housing conference in Ottawa.

  • Business
    The Canadian Press

    February housing starts increased 14% from January: Canada Mortgage and Housing Corp

    OTTAWA — The pace of home construction rose in February as builders started on more apartments and condos, but the industry continues to struggle under cost pressures. Canada Mortgage and Housing Corp. said Friday that housing starts jumped 14 per cent to 253,468 in February from a month earlier on a seasonally adjusted annual rate, which allows for better month-to-month comparison. When looking at year-over-year figures, February's housing starts were up 11 per cent, with the increase driven en

  • News
    The Canadian Press

    Renters have harder time accumulating wealth than homeowners: RBC economist

    TORONTO — Renters face daunting barriers in their attempts to build wealth as they're forced to devote an increasing share of their income to keeping a roof over their head, said an RBC report Thursday. The report by economist Carrie Freestone adds to a growing body of research painting a stark picture of the wealth divide between renters and homeowners. It notes that since 2010, homeowners have seen their net worth grow from nine to 13 times household disposable income, while for renters, net w