COVID-19 has made a strange impact on rent pricing. A lot of families, especially lower-income tenants, are still struggling to pay rent. Despite this drop, some advocates still say rent prices are too high. Part of the contribution to lower rents are the oversupply of condo units (resulting in soaring supply with drop in demand). CBC has published a full article on the issue. To read more, click here. If you have a landlord and tenant issue, click here to book a free consult
The Canadian government announced a change in school curriculum, adding lessons about mortgages and home loans. For years, many have pushed for more financial literacy in children. The government has finally granted the request. To read more about the change, click here.
ACORN has released a report called "Inclusionary Zoning Toronto" which is fighting for Toronto to sustain affordable housing. The report is against developers who would, in essence, be removing rentals from the market. "Inclusionary Zoning" is a policy that allows municipalities to designate an area where developers must set aside new units for affordable housing projects. To read more, click here.
The housing market in Canada continues to head in an upwards trajectory. The index that tracks pricing shows that single-family homes throughout Canada have gains of approximately 2.8% in May. To read more about this trend, click here for an article from Yahoo News.