Money 3 Reasons Canadian Housing Will Roar in 2018

20:11  10 october  2017
20:11  10 october  2017 Source:   The Motley Fool

National housing agency looks to Airbnb for help to boost number of affordable units

  National housing agency looks to Airbnb for help to boost number of affordable units Canada’s housing agency is consulting an unlikely ally in a bid to boost the stock of affordable rental housing: Airbnb. The head of Canada Mortgage and Housing Corporation, the company that’s mandated to help house Canadians, said Tuesday that Airbnb and other short-term rental companies like Vacation Rentals By Owners (VRBO) could help “spawn supply” of rental housing in the country. “I think VRBO and Airbnb should get ahead of this, because they could be giving us some social utility,” the corporation’s CEO Evan Siddall told The Canadian Press.

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  3 Reasons Canadian Housing Will Roar in 2018 © Provided by Fool

The real estate industry received some long overdue good news from the Toronto Real Estate Board, as home prices climbed 6%, representing the first monthly increase since the slide began in April. The housing correction that began when Ontario instituted a set of new regulations, including a 15% foreign buyers’ tax, has caused house prices to slip almost 20% since the peak in April of this year.

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Toronto, London Among Riskiest Housing Bubble Cities, UBS Says

  Toronto, London Among Riskiest Housing Bubble Cities, UBS Says Toronto and London are among the cities most at risk of a housing bubble as economic optimism and low borrowing costs push up property values in urban areas worldwide, according to UBS Group AG. The Canadian city, which entered the index of 20 locations for the first time this year, has the most overvalued housing market, while London was the third-riskiest in Europe after Stockholm and Munich, the Swiss bank said in a report published on Thursday.

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Home Capital Group Inc.(TSX:HCG) also played a large part in souring investor sentiment. The crisis sparked a sell-off in other alternative lenders, like Equitable Group Inc.(TSX:EQB) and mortgage insurers like Genworth MI Canada Inc.(TSX:MIC). After a tumultuous spring and summer, Canada housing has shown signs that it may be ready for a significant bounce back in the coming months.

CMHC is set to explore loosening of regulations

The Canadian Mortgage and Housing Corporation (CMHC) is reportedly mulling regulatory changes to make it easier for small-business owners to qualify for new mortgages. Current mortgage regulations have stringent income stipulations that force small-business owners, contractors, and other non-salaried workers to qualify based on a two-year average. This can be especially complicated for younger workers in contract work, which is becoming more prevalent in the so-called gig economy.

theScore's primer for the 2017-18 NHL season

  theScore's primer for the 2017-18 NHL season The NHL season is fast approaching, and theScore's hockey editors are previewing the upcoming campaign from a multitude of angles. Here's everything you need to know before the puck drops on opening night: Predictions Atlantic Division Predictions

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Intuit Canada released a study in January in which it projected self-employed Canadians will make up 45% of the workforce in 2020. If and when these regulations are loosened to adapt to the new working environment, it could entice many new prospective buyers.

New construction and real estate investment continues at a record pace

Toronto and its surrounding cities saw an incredible rise in the first third of 2017. Hamilton, Ontario, was of particular interest as a city undergoing a transition into an affordable landing spot for those priced out of Toronto. On September 29, Hamilton surpassed the $1 billion mark when it came to construction investment in the city. This represents the fastest growth in investment in the city’s history.

RioCan Real Estate Investment Trust(TSX:REI.UN) announced that it plans to pursue a $2 billion sale of its holdings in secondary markets and focus more on commercial and residential properties in major cities.

NPA candidate Hector Bremner wins Vancouver city council seat

  NPA candidate Hector Bremner wins Vancouver city council seat NPA candidate Hector Bremner wins Vancouver city council seat In a setback for Vision Vancouver, the NPA’s Hector Bremner has won a seat on Vancouver city council, while voters chose a mix of parties for the Vancouver School Board.Vision, the party that has held a majority since 2008, finished a dismal fifth place with candidate Diego Cardona. Jean Swanson, an independent candidate, ended up in second place.The council by-election was held to fill a seat left vacant after Vision Coun. Geoff Meggs left to take a job with the B.C. NDP. A full municipal election is just one year away, in November 2018.

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Immigration is set to rise in 2018

Canadian immigration minister Ahmed Hussen indicated that immigration levels may increase in 2018 from the already record levels of 300,000 per year seen in 2015 and 2016. Some experts are predicting a rise in the 310,000-320,000 range.

Immigration from outside Canada into Ontario was the highest reported in five years in 2016. Immigration also remains one of the main sources of population growth in the city of Toronto, both from outside and inside Canada. There is still debate over how immigration has impacted demand, but the continuing surplus should yield positive results for the market.

Investors in housing and alternative lenders should also take solace in the recent comments by the Bank of Canada following the September 6th rate hike. Governor Stephen Poloz has assured that the bank will proceed with caution, which seems to indicate a gradual approach to rising interest rates. This should help lenders and the industry at large keep borrowing costs low.

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Vancouver byelection reflects a rising sense of frustration .
Vancouver’s first civic byelection in 25 years revealed a rising sense of frustration among the public, according to both upstart politicians and longtime rivals who gained ground on the reigning Vision Vancouver party — as well as Vision’s own mayor. It may be hard to draw too many conclusions about what the weekend’s results mean […]Vancouver’s first civic byelection in 25 years revealed a rising sense of frustration among the public, according to both upstart politicians and longtime rivals who gained ground on the reigning Vision Vancouver party — as well as Vision’s own mayor.

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