W shaped recovery would be ‘very severe’ without government assistance: CMHC
A W-shaped recovery from the COVID-19 pandemic could trigger a nearly 50 per cent drop in housing prices and a peak unemployment rate of 25 per cent, if the government doesn’t offer relief, says the […]
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Bank of Canada keeps key rate at 0.25 per cent, warns of economic decline in 2021
OTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in high-contact service industries […]
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CMHC reports annual pace of housing starts down in December
OTTAWA — The annual pace of housing starts in December fell compared with November, according to Canada Mortgage and Housing Corp. The monthly seasonally adjusted annual rate of housing starts for all areas in Canada, […]
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RCCAO calls on governments to commit more funds to municipalities
The Residential and Civil Construction Alliance of Ontario (RCCAO) released a video that calls on the federal and provincial governments to take urgent action and commit more funds to municipalities so “that state-of-good-repair projects can be tendered in 2021.” […]
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Ontario’s tighter rules allow builders to keep working on condos, other jobs
TORONTO – Ontario’s new COVID-19 emergency measures don’t prevent construction from continuing on many developments, including condos. Residential Construction Council of Ontario president Richard Lyall said the exception is important because the province has not […]
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