“Homelessness & Affordability Crisis”

A new report says the average asking price for a rental unit in Canada reached $2,178 last month, a 9.9 per cent year-over-year increase and continuing a trend that has seen asking rents hit new highs for six months in a row.

The data released by Rentals.ca and Urbanation, which analyzes monthly listings from the former’s network, shows that while October’s annual rate of rent growth in Canada was down from the 11.1 per cent jump in September, it still marked the second fastest annual increase of the past seven months.

Canada’s housing agency is warning of a looming “shock” for borrowers renewing their mortgages as a new analysis shows the pain of higher interest rates is starting to put pressure on some homeowners.

Canada Mortgage and Housing Corp. (CMHC) released its biannual report on the country’s residential mortgage market on Thursday.

As Newfoundland and Labrador struggles with affordable housing and shelter shortages, one developer in Stephenville believes he has the solution that can turn the tide.

Sean Hickey is all in on tiny homes — smaller, purpose-built dwellings that have a smaller footprint, are more affordable and can be built much faster than a normal house or apartment building, depending on the size of the construction crew.

Hickey and two employees have built 12 tiny homes in Stephenville since 2018, without government grants or subsidies. He owns the land and the units and rents them to a range of tenants, including seniors and young professionals.

A new poll shows the majority of Canadians support increasing high-density housing — just not in their backyards.

About 60 per cent of Canadians say they support increasing density in cities across the country, according to polling data published today by Pollara Strategic Insights, a market research group. However, when asked how they would feel if a single-family home on their block was converted into a triplex, only about 20 per cent said it would be a “good thing.”

A queen-sized bed is 60 inches by 80 inches. Wanna share?

It’ll cost ya $900 a month.

No hogging the blankets. No eating crackers in bed, either. And if you snore, the deal is off.

OTTAWA, Ontario (LifeSiteNews) — A Canadian federal housing advocate has suggested that drug trafficking be decriminalized in homeless encampments in the name of “dignity.”

Federal Housing Advocate Marie-Josée Houle’s proposal entitled, “Treat Encampment Residents With Dignity And Respect,” encouraged Members of Parliament (MPs) to consider decriminalizing drug trafficking in tent cities, according to an October 25 article by Blacklock’s Reporter.

The average home price in Canada is 141 per cent higher than what a Canadian household making the median income can afford, according to new data from RATESDOTCA.

The report published Thursday looked at data on home prices and median earnings for Canadian households.

It found that a Canadian family earning the median household income of $79,876 can reasonably afford a $315,000 home, with a maximum insured mortgage of $299,500.

However, the average home price in Canada is currently $757,600, the report noted – considerably pricier than what the average household can afford.

Over the weekend, Ontario Premier Doug Ford issued a letter calling on the Bank of Canada and Prime Minister Justin Trudeau to halt any upcoming interest rate hikes.

“There is simply no excuse for increasing the already crushing pressure previous interest rate hikes have placed on so many families and businesses,” Ford said.

TORONTO – A new survey suggests the number of Canadians struggling with their monthly mortgage payment is on the rise, along with worries of potentially higher payments when it comes time to renew with their lender.

Around 15 per cent of borrowers say they find the financial aspect of their mortgage “very difficult,” up from 11 per cent in June and eight per cent in March, according to data released on Monday by the Angus Reid Institute.

Federal housing advocate Marie-Josee Houle has called the spread of homeless encampments in cities across Canada a human rights crisis.

“People living in encampments face some of the most vulnerable circumstances of any member of Canadian society … they have experienced a history of human rights violations and are at heightened risk of further violations,” her office wrote in an interim report on encampments published this month.

Data shows the number of applications landlords have filed to evict tenants for personal use in 2023 so far has already surpassed the total number of applications in 2022.

In Ontario, landlords can use something called an N12 eviction notice to force tenants to move out of an apartment if the owner, a member of their immediate family, or a caregiver wants to move in. An N12 can also be issued for the same reasons by someone who’s just bought a property.

From January through September 2023, 1,767 N12 evictions have been applied for in Toronto, according to data from the Landlord and Tenant Board (LTB). That’s well above the total applications made in 2022: 1,312.

Not a surprise thanks to Trudeaunomics.