Podcasts about canada mortgage housing corporation

After filling you in on all the news you need to know this week in The Briefs, Amanda Lang speaks with Aled Ab Iowerth, Deputy Chief economist at Canada Mortgage Housing Corporation, on the rising threat of stagflation – that is, prices rising while economic growth stagnates.

Canada's housing crisis is persistent and brutal. In August, the average rent was nearly $2,100 a month – and much higher in cities including Vancouver and Toronto. The average cost to buy a home was about $670,000 – and, again, much higher in Vancouver, at $1.2 million, and Toronto at $1.1 million. The Canada Mortgage Housing Corporation says the country must build 5.8 million units by 2030 to hit affordable rates; we are on track for about half of that.Tackling this problem is going to take a multitude of policy efforts across orders of government – efforts that may benefit some people at the expense of others. And yet, what choice do we have? We must ensure everyone has a safe, affordable place to live. So, how do we solve the housing crisis?On this episode of Open to Debate, David Moscrop talks with Carolyn Whitzman, housing policy expert, adjunct professor at the University of Ottawa, and author of Clara at the Door with a Revolver.

Canada's housing crisis is persistent and brutal. In August, the average rent was nearly $2,100 a month – and much higher in cities including Vancouver and Toronto. The average cost to buy a home was about $670,000 – and, again, much higher in Vancouver, at $1.2 million, and Toronto at $1.1 million. The Canada Mortgage Housing Corporation says the country must build 5.8 million units by 2030 to hit affordable rates; we are on track for about half of that.Tackling this problem is going to take a multitude of policy efforts across orders of government – efforts that may benefit some people at the expense of others. And yet, what choice do we have? We must ensure everyone has a safe, affordable place to live. So, how do we solve the housing crisis?On this episode of Open to Debate, David Moscrop talks with Carolyn Whitzman, housing policy expert, adjunct professor at the University of Ottawa, and author of Clara at the Door with a Revolver.

Alexandra asks: “I’m considering investing in the Toronto market that has an extremely low rental vacancy rate. Since the demand is so high and Toronto is a growing city, do you think this is a good idea?” Alexandra, this is a great question. It is true that vacancy in Toronto is extremely low. The city continues to add about 125,000 population each year, and there are about 35,000 units of new construction added to the market each year. Clearly there is a gap between demand and supply for housing overall. If you break down the vacancy by type of property, you can see even more granularity. For example, Bachelor apartments have the highest vacancy at 1.6%. This data comes from the Canada Mortgage Housing Corporation. This is Canada’s quasi government back mortgage insurer. One bedroom apartments have a 1.3% vacancy rate, two bedrooms have a 1.1% vacancy rate, and 3 bedrooms are 0.9% vacancy rate. Rental rates increased an average of 4.9% from 2017 to 2018. The shortage of housing in Toronto isn’t new. That’s been happening for years. So the real question is “Why is the vacancy rate so low?” If the opportunity is so amazing, why do we not have more people flocking into the market to invest in rental properties? It doesn’t make sense that the vacancy rate remain so low for such a long time. In my opinion, there are four factors that contribute to making rentals in the Toronto market a mediocre investment. Properties are very expensive to purchase. We’ve seen sale price increases over the past several years in the double digits. When the purchase price increases much faster than the rent, it’s hard to make the numbers work. You won’t see the market support an 18% increase in rents, whereas in 2016, market prices increased an average of 18 across the entire Toronto market. That’s a huge shift. You end up tying up too much equity in a property for the rent that you can collect. Toronto has instituted rent controls which limit the amount of annual rent increase that a landlord can demand from tenants. Constructing new dwellings in Toronto attracts very high development fees to the city to pay for the increased load on infrastructure, whether we’re talking about water, sewer, electric, roads, public transit and so on. When you have to write a cheque to the city for $84,000 to build a new single family home, and you have a choice to sell that home in the open market where you have no cap on the sale price, versus putting it into the rental market where your rent increases are capped, it’s an easy choice. The landlord tenant laws in Ontario are heavily skewed in favour of the tenant. Toronto is a wonderful city. It’s clean, safe by World or American standards, multi-cultural, and there is an abundance of commercial and employment opportunities. But it’s increasingly one of the most traffic congested cities in North America. They haven’t been able to build enough road infrastructure to keep up with the population growth. Some investors have bought into the market, accepted the fact that there is very small cash flow, and in many cases negative cash flow. They’ve justified the investment by saying that they make it up in appreciation. For investors, it has worked out. But you don’t control what the market will do in the future. For that reason, it’s a risky strategy and one that I don’t recommend. I personally favour markets where the rent to purchase ratio is much better.

900 CHML's Rick Zamperin and Rob Golfi from the Golfi Team chat with CMHC's Lindsay Harvey about the Hamilton market, CMHC's newly released Prospective Home Buyer Survey and speaks to the National Housing Strategy.

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Understanding your purchase legal info and status is important to know. Linda Pinizzotto, Realtor ® Sutton Group Quantum and Condo Xpert Radio Show Host chats with Sheldon Benjamin, Lawyer of Sheldon Benjamin Law about the legal side of condominiums and Board of Directors. Protecting yourself on your real estate purchase and your new condominium by getting involved. Support the show (http://www.condoradio.com)

Real Estate history exlained in detail by Linda Pinizzotto, COA Founder and Realtor ® Sutton Group Quantum for over 33 years explains the real estate market since 1979 to help listeners understand why they need to protect their investments; providing important recommendations to sellers and buyers. Linda talks about massive changes in the real estate market and the differences between buying today. CMHC and Genworth came onto the mortgage scene. Linda explains Board of Directors and ramifications if they are not fiscally responsible in their decisions. ..... If you need Computer Service call our Sponsor: 905-647-977-7113 or visit ITMayday.com Support the show (http://www.condoradio.com)

Jim White is one of those people that we are thrilled to have join us on IAQ Radio. Mr. White was with the Canada Mortgage Housing Corporation for 20 years when CMHC was doing research and developing documents that are as valuable today as when they were developed. We need to pay attention to people like Jim to avoid repeating the mistakes of the past and some don't think we have paid enough attention. We will find out what Mr. White thinks this week on IAQ Radio!

Jim White is one of those people that we are thrilled to have join us on IAQ Radio. Mr. White was with the Canada Mortgage Housing Corporation for 20 years when CMHC was doing research and developing documents that are as valuable today as when they were developed. We need to pay attention to people like Jim to avoid repeating the mistakes of the past and some don't think we have paid enough attention. We will find out what Mr. White thinks this week on IAQ Radio!