Cities - Fix Team

Inflation sets fresh three decade high at 6.8% in April with little sign of cooling

By:Building .caPosted: May 21st, 2022In: ConstructionNews

OTTAWA – The cost of nearly everything at the grocery store continued to climb higher to help push the annual inflation rate to a fresh three-decade high in April and economists warn prices could continue to heat[...]

CREA reports home sales down in April as mortgage rates rise

By:Building .caPosted: May 16th, 2022In: ConstructionNews

Increasing mortgage rates slowed home sales in April from the frenzied pace they started the year at, the Canadian Real Estate Association said Monday. The association found the number of homes sold dropped by 25.7[...]

BoC’s Gravelle says “perfect storm” fueling inflation, but key differences from ’70s

By:Building .caPosted: May 12th, 2022In: ConstructionNews

MONTREAL – Inflation is at a multi-decade high, but the situation is different than the 1970s when high inflation was combined with high levels of joblessness and slow or recessionary economic growth, a senior Bank of Canada official said Thursday. In[...]

Municipal tax rate twice the inflation rate as city delivers its latest budget

By:Building .caPosted: May 10th, 2022In: ConstructionNews

THE NELSON DAILY Inflation and wage cost pressure have left the city with no choice but to raise municipal taxes by twice the average annual amount. The city will be bumping its annual taxation figure[...]

Vancouver council hiking empty homes tax to 5 per cent of assessed value in 2023

By:Building .caPosted: May 1st, 2022In: ConstructionNews

Vancouver is raising the empty homes tax that is designed to ease vacancy rates in the city, from three per cent to five per cent of the property’s value. The motion by Mayor Kennedy Stewart[...]

Inflation picks up steam in March to hit 6.7% amid war in Europe, supply chain woes

By:Building .caPosted: Apr 21st, 2022In: ConstructionNews

OTTAWA – Canada’s inflation rate hit 6.7 per cent last month, the fastest annual increase in more than three decades as Russia’s attack on Ukraine pushed up oil prices and a pandemic-related supply chain crunch dragged[...]

Bank of Canada raises key rate to 1% and warns further hikes still to come

By:Building .caPosted: Apr 13th, 2022In: ConstructionNews

OTTAWA – The Bank of Canada raised its key interest rate by the highest amount in more than 20 years and warned more rate hikes are coming as it increased its outlook for inflation. The central bank hiked its policy interest[...]

RCCAO welcomes budget’s housing focus, concerned for funding to cities

By:Building .caPosted: Apr 12th, 2022In: ConstructionNews

According to a release by the Residential and Civil Construction Alliance of Ontario (RCCAO), the alliance welcomes the focus on housing and infrastructure investment in the Federal Government’s Budget 2022 but is troubled that there[...]

The federal budget will have the support of the NDP, but will also face opposition

By:Building .caPosted: Apr 9th, 2022In: ConstructionNews

OTTAWA – The Liberals have done enough to honour their agreement with the NDP, but that doesn’t mean the federal budget will pass without opposition. “We still have critiques and criticisms,” NDP Leader Jagmeet Singh said Thursday.[...]

March home prices slid from February, but still up from last year: TRREB

By:Building .caPosted: Apr 6th, 2022In: ConstructionNews

TORONTO – Prospective homebuyers in the Toronto region saw a slight dip in home prices last month, but properties were still selling for an average $200,000 more than they were last March. The Toronto Regional[...]