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Real Estate

  • News
    Reuters

    Canada's Senate passes budget, greenlighting measures on housing, Russian assets

    Canada's Senate on Thursday passed Prime Minister Justin Trudeau's budget, adopting a long list of measures including a two-year ban on foreign home buyers and the power to confiscate and sell assets seized in response to Russia's invasion of Ukraine. The Liberal government laid out a budget in April geared at boosting affordability of housing with fresh funding and a promise to ban foreign investors from buying Canadian homes for two years, among other measures. It lists over a dozen changes to the country's income tax laws which were described by the Senate's finance committee as "highly technical" and "seriously difficult for Canadians, including tax experts, to understand."

  • Business
    Bloomberg

    Los Angeles Property Investors Ready Fight Against Megamansion Tax Hike

    (Bloomberg) -- Los Angeles real estate investors are gearing up for a campaign to defeat a ballot measure that would increase a tax on the sale of multimillion-dollar properties to help pay for housing one of the biggest US homeless populations. Most Read from BloombergSupreme Court Overturns Roe, Transforming Abortion-Rights FightJuul’s Vaping Products Are Ordered Off the Market in the USThese Are the World’s Most Liveable Cities in 2022Elon Musk Says New Tesla Plants Are ‘Money Furnaces’ Losin

  • News
    Reuters

    For affordability, Canadian home-building pace must double by 2030 -CMHC

    OTTAWA (Reuters) -Canada would need to more than double the number of homes it is projected to build by 2030 to restore housing affordability, the national housing agency said on Thursday. The Canada Mortgage and Housing Corporation (CMHC)said 3.5 million more houses would be needed, on top of the 2.3 million housing units Canada is projected to add to the housing pool by 2030. The agency said the provinces of Ontario and British Columbia are going to contribute two-thirds of the housing supply gap by 2030, while Quebec would also need more houses.