The Canada Mortgage and Housing Corp. says construction of new homes in Canada's six largest cities remained stable at near all-time high levels last year, driven by a surge of new apartments- despite demand still outpacing supply for rental housing.
The agency released its biannual housing supply report on Wednesday, which showed combined housing starts in the Toronto, Vancouver, Montreal, Calgary, Edmonton and Ottawa regions dipped 0.5 per cent compared with 2022, totalling 137,915 units.
That was in line with the annual average of around 140,000 new units over the past three years.
CMHC deputy chief economist Aled ab Iorwerth said the 2023 numbers came in "better than we thought." "We ended up being positively surprised by 2023. We were really quite concerned that higher interest rates were going to really have an impact," ab Iorwerth said. "They did have an impact, but it seems to have been on smaller structures, single-detached (homes) and so forth." Apartment starts grew seven per cent to reach a record 98,774 individual units last year. However, those gains were offset by declines in the number of new single-detached homes, which fell 20 per cent year-over-year, due to weaker demand for higher-priced homes in an elevated mortgage rate environment.
هذه القصة مأخوذة من طبعة March 28, 2024 من Toronto Star.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 28, 2024 من Toronto Star.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Disgraceful behaviour on Parliament Hill
‘Was it you or not?’ Jagmeet Singh confronts heckler on Parliament Hill, Sept. 17
How to Fix our Congestion Crisis - Toronto has some of the worst congestion on the continent, Coun. Brad Bradford writes. Fixing it requires common sense and better planning and prioritization at the top.
Toronto has one of the world’s best film festivals but as stars like Will Ferrell pointed out, we also have some of the world’s worst traffic. He joins a long list of international celebrities, professional athletes and musicians that have echoed the concerns of thousands of residents forced to do battle with Toronto’s gridlock everyday.
Rogers' Power Play- Company will have near-lock on city's pro sports with buyout of Bell's stake in MLSE
One man is now poised to control every major men’s pro sports team in Toronto. Edward Rogers will have achieved his long-desired goal of total power over Maple Leaf Sports & Entertainment (MLSE), if a $4.7-billion deal to snap up Bell Canada’s 37.5 per cent stake is completed, making Rogers Communications the majority owner of the Maple Leafs, Raptors, Argonauts and Toronto FC.For a decade, MLSE’s board had been split between Rogers, Bell and MLSE chair Larry Tanenbaum’s Kilmer Sports.
'It Was a Recipe for this Incident' - GO riders blame construction for crowded platform where woman hit
The GO Transit platform where a woman was struck by an express train on Tuesday has been partially closed for several months due to construction at the station, causing crowding during rush hour.Toronto police said the 46-year-old woman was walking near the edge of the platform at Long Branch GO Station when she was hit by an express train bypassing the station at around 8:15 a.m. She was rushed to hospital in life-threatening condition. No update on her condition was available Wednesday.
Weakened Liberal Party Saved by BQ - Who would have thought Canada might be saved from an election by the only political party that seeks to break up the country?
Prime Minister Justin Trudeau has a chance to keep his Liberals in power thanks to Bloc Québécois Leader Yves-François Blanchet. On Tuesday, without engaging any of the parties in substantive negotiations, the Liberals decided to lay the future of the government on the tracks of the oncoming Conservative train. They tempted the fate not just of their own political lifespan, but also that of all the policies they say they want to accomplish: a more compassionate and responsive immigration system; action to curb greenhouse gasses; a school food program; a pharmacare program that provides free contraception and diabetes medication; better (though inadequate) disability payments; and the entrenchment of a dental care program that has seen a huge uptick of subscribers.
At Least We'll All Know Who to Blame - Edward Rogers has become Toronto sports fans' one-stop target for owner-bashing
Sports needs characters we can root for, and characters we can blame, writes Edward Keenan. Rogers buying Bell's MLSE stake will supply more of the latter, starting with chairman Edward Rogers.For a sports fan, there’s something satisfying about that. For years with the Leafs in particular, the owner was a pension plan, and it was hard to tell if its controlling executives (never mind the teachers whose money they were spending) cared about hockey one way or the other. And whether they did or not, how could you figure out who was responsible for what they did as a result?
Lebanon is Rocked Again by Deadly Exploding Devices - Israel acknowledges 'new phase in war'; civilians among dead
Walkie-talkies and solar equipment exploded in Beirut and other parts of Lebanon on Wednesday in an apparent second wave of attacks targeting devices a day after pagers used by Hezbollah blew up, state media and officials for the militant group said. At least 20 people were killed and more than 450 wounded in the second wave, the Health Ministry said.
Feds Impose New Limits on International Students - Immigration Minister Marc Miller has announced new limits on international students Wednesday, saying Canada is facing an untenable number of people wishing to come here.
Enrolment cuts, work permit restrictions will further slow population growth. Immigration Minister Marc Miller has announced new limits on international students Wednesday, saying Canada is facing an untenable number of people wishing to come here.Canada will reduce the annual cap on study permits by another 10 per cent in 2025 and restrict eligibility for international graduates' work permits to better meet labour market needs, amid continuing public pressure to tame runaway population growth.
Bloc Will Vote to Prop up Liberals - Bloc Québécois Leader Yves-Francois Blanchet, said he does not have confidence in Prime Minister Justin Trudeau's minority government, but believes he can use the situation to push for his party's priorities.
Leader says he will oppose Tory motion to bring down Trudeau government. Bloc Québécois Leader Yves-Francois Blanchet, said he does not have confidence in Prime Minister Justin Trudeau's minority government, but believes he can use the situation to push for his party's priorities.
Dutcher wins second Polaris award
Singer donating prize to school in New Brunswick
