Staff Writer

Mortgages

“Dead On Arrival”: CMHC Ends First-Time Home Buyer Incentive

An update provided on CMHC’s website confirms that the incentive is being “discontinued,” and notes that the deadline for new or updated submissions is March 21, 2024.

Taxes

Toronto Vacant Home Tax Declarations Due Tomorrow

Toronto homeowners have until tomorrow to declare the 2023 occupancy status of their property — or face a fine.

Renting

Pandemic Spread Rental Affordability Crisis Across The Country, Expert Says

CMHC’s Mathieu Laberge says that the pandemic brought “increased demand in housing markets outside of large urban centres, in markets that had been somewhat insulated from the affordability crisis.”

Development Projects

Revised Proposal Calls For Gleaming 70-Storey Skyscraper On Yonge Street

YI Developments — which, notably, has Rick Rabba of Rabba Fine Foods at the helm — proposed 40 storeys for the same site in 2012, and 57 storeys in 2021.

Economy

Canada Still On Track For Spring Interest Rate Cut: Economists

“We expect five 25-basis-point cuts to the Canadian and US overnight rates this year, with further easing likely to follow in 2025.”

Policy

Province Awards $25.5M To Brampton For Reaching 85% Of Housing Target

“These funds can be used by the city for infrastructure projects that lay the groundwork for more housing and community development,” Premier Ford said at a press conference on Friday morning.

Policy

New Rules For Rooming Houses Go Into Effect In Toronto Next Month

The new rules will go into effect on March 31, 2024, and include a licensing requirement for all rooming house operators.

Industry

Vandyk Group Mired In Another Receivership Order As Lenders Allege $12M In Debt

A receiver has been appointed for unsold units within Vandyk's boutique condominium building in South Etobicoke.

Renting

Quality Of Life Worse For Renters Over Homeowners, Data Suggests

Canadian renters are over 11 percentage points less likely to report “high overall life satisfaction,” according to new data from Statistics Canada.

Renting

Brampton To Resume Landlord Licensing Pilot In March Despite Public Outcry

City of Brampton staff have said that they intend to relaunch the hotly contested Residential Rental Licensing pilot program with new and clarified parameters next month.