Lifting the veil on the new Canada-Ontario Housing Benefit

Robb NelsonMortgage Talk Canada

by Kimberly Greene Yesterday, the federal and provincial governments announced the Canada-Ontario Housing Benefit, a joint venture that will provide direct support to Ontarians in housing need. More details have emerged on the program, namely who will be served as well as how the funds will be distributed. “It is the first direct support for rental housing in generations,” said the … Read More

Prime Minister Urges Review of Stress Test

Robb NelsonMortgage Talk Canada

by Kimberly Greene Minister of Finance Bill Morneau was urged to reconsider the borrower stress test in a Ministerial Mandate letter from Prime Minister Justin Trudeau. The prime minister reiterated Morneau’s commitment to four key principles for the implementation of the government’s fiscal plan: reducing the government’s debt; preserving Canada’s AAA credit rating; investing in people and things that give … Read More

Canadian housing costs have more than tripled since the ’80s

Robb NelsonMortgage Talk Canada

by Ephraim Vecina The cost of Canadian housing – which also covers water and utilities – shot up by more than 208.68% in the decades since 1980, according to Statistics Canada. The latest edition of the agency’s consumer price index also found that rent had a 144.2% increase during this period, while owner costs (inclusive of carrying costs) went up by … Read More