The Canada Mortgage and Housing Corp. (CMHC) says 3.5 million more homes need to be built by 2030 to reach affordability. The agency released a report Thursday explaining the need for a different approach to the housing supply shortage at a time of rising demand and affordability concerns. "Increasing supply will be difficult. Critically, increasing supply takes time because the time to...
Good luck buying a home anywhere in Ontario right now, as meteoric price gains and a historic inflation spike push housing markets in the province further out of reach. And as bad as things are in the Greater Toronto Area in 2022, rampant speculation is not limited to urban centres. According to one housing market assessment, Peterborough is now the single most overvalued housing market in the entire...
As widely expected by economists, the Bank of Canada implemented another half-point interest rate increase in today’s rate policy announcement, embarking on the tightest hiking cycle seen in decades and reinforcing its commitment to tame runaway inflation growth. The 50-basis-point hike — the second consecutive, following the April 13 announcement — brings the bank’s trend-setting...
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