Pandemic-induced restrictions at the Canadian border have led to major declines in both permanent and non-permanent residents arriving in the country. In turn, these sharp declines have caused the country’s population growth rate to fall from the record-breaking levels seen over the past few years. Now, the impact on the country’s rental market is becoming more apparent as the pandemic drags on,...

The impacts, it says, could worsen the region’s housing shortage, affect thousands of jobs, and have a massive impact of government revenues over the coming months and years. A Building Industry and Land Development Association (BILD) survey has found 498 residential construction projects by its members in the Greater Toronto Area have been delayed by the COVID-19 pandemic. In Toronto itself,...

Speaking Notes for Evan Siddall Standing Committee on Finance Ottawa, Ontario Thank you, Chair, for this opportunity to update the Committee on how CMHC is helping to stabilize Canada’s financial system and support the economic well-being of households and small businesses during the COVID-19 pandemic. My appearance before you today is also timely in informing you about new measures we are...

GOOD NEWS, COUNCIL APPROVED THESE MEASURES. Richmond Hill taxpayers receive immediate relief for the remainder of this year.   Until January 1st, 2021, you do not have to make any water or property tax payments. (Please NOTE #2 below for a condition)  However, if you are like me, and are in a position to make your payments on their due date, or even pay them upfront in full, please continue to do...

First and foremost, I hope you and your families are safe and well. The last few weeks have been unprecedented for all of us, to say the least, but the good thing is that we will get through this together soon.   If you are experiencing financial hardship, you can request from your lending institution to defer the equivalent of up to six monthly payments. Please note that by deferring mortgage...