Canada's home ownership crisis is likely to worsen over the next few years as proposed project sales languish at historically low levels, stalling the funding needed for construction, half a dozen economists and realtors told Reuters.
According to federal housing agency CMHC's Housing Supply Report from last month where it cites an independent study, new condominium sales were down more than half in the first six months of 2024 than in the same period a year ago.
Aled ab Iorwerth, deputy chief economist at CMHC, who co-authored the report said there are many developers who need money to start planned condo projects.
Party deletes video after viewers list gaffes, including scenes of Ukraine, Slovenia – and Russian jets
“Shockingly, Mr Poilievre’s dream for Canada includes Russian fighter jets flying over our glorious Prairies on a ‘training mission’,” Daniel Minden said in a statement on Monday.
The Canadian Future Party’s website includes an interim policy framework that focuses, in part, on personal freedoms, open government, and responsible spending.
On the right, "we're supposed to find fiscal discipline," he adds. "But along with it, too often, there’s a mean-spirited approach that blames the most vulnerable for their plight. Selfishness masquerading as liberty that happily misdirects government resources to the wealthy and polices our bodies and our bedrooms."
Canada's Temporary Foreign Worker Program serves as a 'breeding ground for contemporary slavery,' according to a scathing UN report examining Canada's efforts to limit unfair labour.
just uhh, don't do this? don't use a personal corp as a fun little deferred tax shelter just for doctors? just RRSPs and TFSAs like everyone else
"Canadian Medical Association president Kathleen Ross told the Canadian Press earlier Tuesday that many doctors would be be hit by the hike because they incorporate their medical practices and invest for their retirement within their corporations."
"The fact that so many households depend on rising home equity gains to generate wealth for their families speaks to the failure of our “financialized” economy, where money is increasingly made from holding or inheriting assets alone, not productive, collaborative, and meaningful work. If we are to truly fix Canada’s housing system, we need to wean households off their growing reliance on the inflation of asset prices."
"With interest rates near historic lows, the Bank of Canada doesn’t have much conventional ammunition to fight a major downturn, a problem faced by most other central banks. That’s aggravated by Canada’s extremely high household debt levels, which will make policy makers even more reluctant to lower borrowing costs.
The end result may be a growing reliance on fiscal policy to manage slowdowns, in coordination with the Bank of Canada in a relationship that could be formalized as early as 2021 when the central bank completes a mandate review.
“It’s pretty clear we are reaching limits to what central bankers can do with conventional instruments,” Perrault said. “That’s going to place a premium on policy coordination. We will need somebody that understands the linkages between monetary and fiscal policy, and how coordination between these policies can and should be executed while maintaining the central bank’s independence.”
