Rental Growth, Mortgage Rule Changes, and Housing Innovations in Episode 86
In this episode, we begin with a welcome and introduction, setting the stage for a detailed exploration of recent market updates, including the growth of rental housing in Canada's major cities and a decline in housing starts. We address pressing concerns around housing supply and affordability in Canada. The episode also covers a mortgage market overview, highlighting recent developments and the easing of qualification rules. We examine the growing relationship between brokers and private lenders and discuss the implications of the insured mortgage cap for buyers. Additionally, we spotlight Kevin Crigger's appointment at the Toronto Regional Real Estate Board and explore British Columbia's innovative pre-fabricated homes initiative.
Key Points
- Rental housing starts in Canada's largest cities reached record levels in the first half of 2024, driven by significant increases in multi-unit apartment buildings, particularly in Montréal.
- Recent interest rate cuts and eased mortgage qualification rules by the Bank of Canada and federal government have sparked renewed optimism in Canada's mortgage market, with borrowers increasingly considering variable rate options.
- In British Columbia, the NDP and B.C. Conservatives have proposed contrasting strategies to address the housing crisis, focusing on prefabricated homes and streamlined permit processes, respectively.
Chapters
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Transcript
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