Smith Financial to buy Home Capital Group as mortgage industry under strain
Posted: Nov 28th, 2022In: ConstructionNewsTORONTO – Mortgage lender Home Capital Group Inc. has agreed to be bought by Smith Financial Corp. in a deal that values the company at $1.7 billion as the sector feels the strain from rising[...]
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B.C. government to bring in rental changes, supply laws to boost housing
Posted: Nov 27th, 2022In: ConstructionNewsVICTORIA – The British Columbia government has introduced sweeping changes to boost the housing supply, and while local governments say they want to do their part, they’re concerned about effects the laws will have on[...]
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Long term rate hikes effects will be ‘more powerful’ than people think: Poloz
Posted: Nov 26th, 2022In: ConstructionNewsOTTAWA – The full effects of interest rate hikes have yet to be felt – and will be “even more powerful” than many anticipate, said former Bank of Canada governor Stephen Poloz Thursday in a speech about ways Canada can chart a path[...]
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GTA new home market sees small increase in activity in October
Posted: Nov 25th, 2022In: ConstructionNewsThe GTA new home market picked up slightly in October, though activity remained well below levels that are typical for the month, reports the Building Industry and Land Development Association (BILD). Total October new home[...]
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Inflation relief measures should be well targeted and temporary, says Macklem
Posted: Nov 24th, 2022In: ConstructionNewsOTTAWA – Governments looking to provide inflation relief to Canadians should choose measures that are well targeted and temporary, says Bank of Canada governor Tiff Macklem. At a House of Commons committee meeting Wednesday, Conservative MP Adam Chambers asked the governor[...]
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Ontario’s Bill 23 proposes more homes built faster, but this comes at an environmental cost
Posted: Nov 23rd, 2022In: ConstructionNewsBill 23 proposes to eliminate or weaken many housing development regulations including site plan controls, which keep us and our natural environment safe from the negative effects of poorly controlled development. THE CANADIAN PRESS/Nathan Denette[...]
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RESCON and industry partners release tower crane best practices guide
Posted: Nov 22nd, 2022In: ConstructionNewsThe Residential Construction Council of Ontario (RESCON) and its industry partners have released a comprehensive best practices guide that outlines what mechanical, electrical and structural inspections are required prior to erecting a tower crane on[...]
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Canada’s National Housing Strategy: Is it really addressing homelessness and affordability?
Posted: Nov 19th, 2022In: ConstructionNewsIn Canada, just over 10 per cent of households live in housing that is unaffordable, unsuitable or inadequate, and they cannot afford alternative housing in their community. THE CANADIAN PRESS/Darryl Dyck Jacquie Gahagan, Mount Saint[...]
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Ontario housing bill to short municipalities by $5 billion: AMO
Posted: Nov 18th, 2022In: ConstructionNewsTORONTO — Ontario housing legislation could leave communities short $5 billion and see taxpayers footing the bill, either in the form of higher property taxes or service cuts, the Association of Municipalities of Ontario said[...]
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Economists see signs of inflation easing, despite annual rate holding steady
Posted: Nov 17th, 2022In: ConstructionNewsOTTAWA – Canada’s annual inflation rate held steady in October, but economists say it’s trending in the right direction. In its latest consumer price index report, Statistics Canada said the country’s annual inflation rate was 6.9 per cent[...]
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