real estate market

Soaring inflation has Canadians bracing for more financial turbulence: Angus Reid

By:Building .caPosted: Jun 28th, 2022In: ConstructionNews

In the midst of the highest inflation rates in forty years, a new study from the non-profit Angus Reid Institute finds that overall, 45 per cent of respondents say they are worse off now than[...]

Canadian home buyers face least affordable market in a generation: RBC

By:Building .caPosted: Jun 26th, 2022In: ConstructionNews

RBC’s latest housing affordability report released Thursday reveals that the situation is the worst its been since the early 1990s, and will worsen before it gets better. RBC’s aggregate affordability measure for Canada went up 3.7[...]

Record-setting year for residential construction industry: CHBA report

By:Building .caPosted: Jun 25th, 2022In: ConstructionNews

The Canadian Home Builders’ Association (CHBA) has released its annual report on the performance of Canada’s residential construction industry, which according to the association, details a record-setting year for the industry in its contribution to[...]

Inflation skyrockets to highest level in nearly 40 years as gas prices soar

By:Building .caPosted: Jun 23rd, 2022In: ConstructionNews

OTTAWA – Soaring gas prices helped the annual inflation rate in May soar to its highest level in nearly 40 years, as the rising cost of living for Canadians squeezed household budgets and bolstered expectations the Bank of Canada will opt[...]

Alberta housing starts rebound to 2015 levels as oil prices surge

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

CALGARY – Alberta’s cities are once again abuzz with the sound of hammers and saws as surging oil prices fuel a fresh building boom in the province. According to Statistics Canada, housing starts in Alberta,[...]

Freeland touts previously announced measures to combat hot inflation

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

TORONTO – Amid stubbornly hot inflation and rising interest rates, Finance Minister Chrystia Freeland detailed financial commitments to “help make life more affordable for millions of Canadians” – but the measures were all previously announced. Freeland delivered[...]

CMHC reports annual pace of housing starts up in May

By:Building .caPosted: Jun 15th, 2022In: ConstructionNews

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in May was up eight per cent compared with April. The national housing agency says the seasonally adjusted annual rate of[...]

Key household debt to income ratio down in Q1 as income rises faster than debt

By:Building .caPosted: Jun 14th, 2022In: ConstructionNews

OTTAWA – Statistics Canada says the amount Canadians owe relative to their income pulled back in the first quarter from the record level set in the fourth quarter of 2021 as incomes grew faster than debt.[...]

Bank of Canada says household debt and home prices key risks for financial system

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

OTTAWA – The Bank of Canada said vulnerabilities from high household debt and elevated housing prices have increased and pose key risks to the Canadian financial system. In its latest financial system review, the central bank said Thursday the twin factors[...]

Bank of Canada says economy can handle higher rates despite household debt risks

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

High household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can still handle the rising interest rates needed to tame inflation, Bank of Canada governor Tiff Macklem said Thursday. “We think[...]