News: How Ottawa Can Help Boost Housing Supply
- Shael Soberano
- Jun 14, 2021
- 2 min read
Updated: Jan 12, 2022
In this week's Industry News (Week of 14 Jun 2021).
Three ways Ottawa could really help boost housing supply without crossing the line | Benjamin Dachis, Financial Post
Did you know it takes a developer 249 days to get a permit in Toronto? In Singapore it takes 36 days.
Long-term supply and demand fundamentals in Ontario's housing markets continue to bolster a compelling landscape for investment properties. Benjamin Dachis of the Financial Post provides insightful colour on how policy-makers continue to focus on demand-side measures such as lending restrictions, and shares thoughts on how to address the true driver of home price appreciation..... the lack of new supply.
RBC says policy changes have done little to cool housing market as it raises forecast for prices, sales | Rachelle Younglai - Real estate reporter, The Globe and Mail
Home ownership a "distant dream" for many Canadian as calls for action to cool frenzied market largely ignored, RBC says.
"Canadian policymakers mostly ignored calls for forceful action," RBC's senior economist Rober Hogue. While policymakers have attempted to cool home price acceleration, such measures to-date have been unsuccessful. As an example, in April the federal government proposed a tax on vacant homes owned by non-residents with the goal to increase the housing supply by encouraging those homeowners to sell or rent their vacant properties. "While the light touch may be of comfort to some, in our view it only prolonged the much needed rebalancing of Canada's housing market," Mr. Hogue said.
Condo developer plans to buy $1-billion worth of single-family houses in Canada for rentals | Rachelle Younglai - Real estate reporter, The Globe and Mail
Core Development Group, a Toronto condo developer, is buying hundreds of detached houses in Ontario, with the plan of renting them.
The single-family rental sector has become a sought after real estate asset class in the United States and in select global markets over the last decade. Institutional investors such as private equity firms, pension funds, and REITs have been investing billions of dollars into the asset class. With the Canadian single-family rental sector still in is nascency, and the Konfidis' mission to enable investor access to the asset class with the most advanced analytical tools leveraging technology and big data, we are pleased to see early success from Core Development Group and anticipate such attention to this compelling investment opportunity in Canada to only grow.
Konfidis is pleased to share our weekly residential real estate investing industry news piece herein. We love connecting with our members. Reach out with your questions to hello@konfidis.com.
Shael Soberano, CFA
Konfidis Inc.
Chief Investment Officer
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