It would appear that this is an an outright declaration of war by the Ontario Government of Dalton McGuinty on Ontario’s landlords. It’s just a question of where the votes are. There are more tenants than landlords.
“Ontario’s rent increase guideline for 2011 will be 0.7 per cent.
The provincial government says it’s the lowest guideline in the 35-year history of Ontario rent regulation.
The guideline is the maximum amount a landlord can increase the rent of most sitting tenants without seeking approval of the Landlord and Tenant Board.
The 2011 guideline applies to rent increases that occur between January 1 and December 31, 2011.
The calculation is based on the Ontario Consumer Price Index.”
Published on Monday, Jun. 21, 2010 6:00AM EDTLast updated on Tuesday, Jun. 22, 2010 1:12PM EDT
Condo fees may not be subject to HST, but that doesn’t mean condo owners won’t be dinged by the tax.
Alan Kwan, a 32-year-old recruiter for a headhunting firm in downtown Toronto, says he expects to be hit with higher condo fees in a year’s time, after the managers of his building have gone over their financial statements and totted up their additional costs from the Harmonized Sales Tax. Continue reading →
Bank of Canada says household debt and European crisis present the biggest risks to country’s financial stabil
Ottawa — Globe and Mail Update Published on Monday, Jun. 21, 2010 10:45AM EDTLast updated on Monday, Jun. 21, 2010 12:53PM EDT
Risks to Canada’s financial stability have gone up over the past six months because of the possibility that the European debt crisis and “severe tensions” in global markets could threaten the worldwide recovery, the Bank of Canada said Monday. Continue reading →
Where do you want to live? Where can you afford to live? Every major Canadian city scoured for bargains!
It’s a crazy time for real estate in Canada. Prices are sky-high, people are feeling pressured into selling into a hot market and buyers fear purchasing an overpriced home only to see the bubble burst.
But MoneySense magazine has come to the rescue and crunched the numbers to identify the best real estate deals in the best cities. Continue reading →
Globe and Mail Update Published on Thursday, Jun. 03, 2010 6:59PM EDTLast updated on Tuesday, Jun. 08, 2010 1:37PM EDT
Canada’s resale housing boom has run out of steam.
After a year of solid gains, monthly sales in major cities took their first step back in May as the threat of higher mortgage rates, tighter qualification rules and a flood of new listings took the pressure off buyers to rush into the market. Continue reading →
Rental apartment vacancies in major Canadian centres rose 2.9% in April, up from 2.7% a year earlier, Canada Mortgage and Housing Corp. said yesterday. “Rental construction and competition from the condominium market added upward pressure on vacancy rates and historically low mortgage rates attracted renter households towards home ownership over the last year,” said Bob Dugan, CMHC’s chief economist. Of the 35 major centres, the lowest vacancy rates were in Quebec City (0.4%), Regina (0.8%), Winnipeg (1%) and St. John’s, N.L. (1.1%). The highest vacancy rates were in Windsor, Ont. (12.4%), Peterborough, Ont., and Abbotsford, B.C., (both 6.6%). Monthly rents for two-bedroom apartments were the highest in Vancouver ($1,150), Toronto ($1,134), Calgary ($1,082) and Ott awa ($1,061). The lowest rents were in the Quebec centres of Saguenay($522), Trois-Rivieres ($531) and Sherbrooke ($556).
After sitting in the dark in her two-bedroom apartment for more than 24 hours, Laurie Brown finally gave in. The mother of two small children says she had no choice but to pay $500 in hydro bills or risk being without power for days, possibly weeks.
Now the Toronto resident is wondering what she will do next month when another bill from third-party energy provider Stratacon shows up again at her door.
The monthly hydro bill at her 100 Sprucewood Court apartment, previously about $40 to $60 a month, had suddenly shot up to nearly $150 a month and she didn’t understand why. She still doesn’t. Continue reading →
One firm promises to post your home on the Multiple Listing Service for a penny. Another boasts that it’s cheaper to use lawyers than realtors. A third encourages agents to bid on listings to see who might offer the best prices and services.
At least half a dozen new innovative Canadian companies have been launched in the wake of a decision by the federal Competition Bureau to challenge the rules of organized real estate. Continue reading →