Finance
Taxes
Toronto Due For Vacant Home Tax Shake-Up After City Backtracks On Over 100,000 Charges
A shake-up is on the table at this week’s Toronto City Council deliberations when it comes to how the Vacant Home Tax will be rolled out in the years to come.
Apr 17, 2024
Economy
Odds Rise For June Interest Rate Cut Despite Uptick In Inflation
“Financial markets had been thinking there was a 50/50 chance of a June cut before today's data, but that probability rose to around 65% following the benign March CPI data release.”
Finance
Canada's Inflation Rate Rises To 2.9% In March
This morning, Statistics Canada (StatCan) published its anticipated March inflation report.
Finance
June Interest Rate Cut ‘Within The Realm Of Possibility’: Macklem
There is still some “diversity of views” amongst members of Governing Council on the rate cut front, Bank of Canada Governor Tiff Macklem told reporters on Wednesday.
This $3.7M Arthur Erickson-Designed Townhome Is A Work Of Art
A home needs to be more than just aesthetically pleasing to be an artistic dwelling; it needs to inspire its inhabitants through unique, thought-provoking design, that pushes boundaries and transcends the norm. (You’ll know one when you see it.)
Economy
Bank Of Canada Holds Interest Rate At 5% For Sixth Straight Time
“I realize that what most Canadians want to know is when we will lower our policy interest rate. What do we need to see to be convinced it’s time to cut? The short answer is we are seeing what we need to see, but we need to see it for longer to be confident that progress toward price stability will be sustained."
Real Estate News
No Regrets: Vast Majority Of Canadian Homeowners Don't Have Buyer's Remorse
Canadian homeowners don’t have buyer’s remorse when it comes to the roof over their heads with more than 75% who have purchased a home since 2019 saying they don’t regret the decision at all.
Mortgages
A Rate Cut Won’t Save You (Or The Housing Market)
“If what we’re looking at is housing affordability, then… an interest-rate cut is merely going to fuel the market further still — and that’s going to be across all Canadian markets."
Taxes
“Cumbersome”: Toronto’s Vacant Home Tax Mishap Draws Criticism Over Declaration Process
As of Friday, Toronto has backtracked on approximately 61,000 vacant home tax bills, and the city says it’s too soon to say exactly what went wrong.
Finance
It's Never Been Tougher To Afford A Home In Canadian History... Again
In news that may come as no surprise for Canada’s homebuyers, it’s officially the toughest time to purchase a home in the country's history, according to RBC Economics.
Economy
Will January’s “Robust” GDP Reading Delay Interest Rate Cuts? Economists Are Split
“If this strength in activity is close to replicated into Q2, the BoC will see much less urgency to cut rates any time soon,” said BMO's Douglas Porter.
Policy
Ontario’s 2024 Budget Lacking A “Central Focus” On Housing, Experts Say
“It would have been great to see more money directly targeting the development of homes at various price points for Ontarians,” Royal LePage’s Karen Yolevski tells STOREYS. “It also would have been wonderful to see more investment in the missing middle.”
Economy
Interest Rate Cuts Likely “Over The Course Of This Year”: Bank of Canada
Although the rate cut conversation is still very much so in flux, the Bank of Canada has — finally — indicated that a cut is indeed imminent.
Economy
With Two Months Of Near-Target Inflation, Can The BoC Finally Cut Interest Rates?
With January's 2.9% inflation rate followed by February's promising 2.8%, it certainly seems like a promising downward trend has emerged, leaving Canadians eager for rate cuts.
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