Cannabis industry contributed to spike in home prices, housing shortages: survey

Robb NelsonMortgage Talk Canada

By: Jeremiah Rodriguez, CTVNews.ca Writer Canada’s booming cannabis industry has led to a spike in housing prices and home shortages in some regions, according to a new report from RE/MAX. For example, Smiths Falls, Ont. — home to Canopy Growth, which Bloomberg dubbed the largest cannabis producer in the world — now employs 1,300 people. An unintended consequence of that employment growth is a shortage of … Read More

More Canadians are concerned about their debt obligations

Robb NelsonMortgage Talk Canada

by Duffie Osental More Canadians are starting to feel the pressure of debt obligations such as mortgage payments. The latest MNP Consumer Debt Index revealed that over half (54%) of Canadians said that they are more concerned about their ability to repay their debts than they used to be – which isn’t very surprising given that the average Canadian, after paying … Read More

Industry tells re-elected Trudeau gov’t, ‘We’re watching you’

Robb NelsonMortgage Talk Canada

by Ephraim Vecina The real estate industry will be closely looking at the re-elected Liberal government to see if it will live up to its mandate of serving the people’s best interests, according to RE/MAX Ontario-Atlantic Canada executive vice president and regional director Christopher Alexander. “Affordability is a top priority for Canadians, and it’s encouraging to see the theme of affordability … Read More

CMHC reports annual pace of housing starts in Canada slowed in September

Robb NelsonMortgage Talk Canada

The Canadian Press OTTAWA — The pace of Canadian housing starts slowed in September compared with August, but still came in better than expected. Canada Mortgage and Housing Corp. said Tuesday the seasonally adjusted annual rate fell 2.5 per cent month-over-month to 221,202 units in September compared with 226,871 in August. However, economists on average had expected an annual pace … Read More