The Bank of Canada raised its policy interest rate Wednesday, pushing up borrowing costs for the first time since 2018 and kicking off a much-anticipated rate hike cycle despite heightened economic uncertainty caused by Russia’s invasion of Ukraine. The central bank’s governing council voted to increase the key overnight interest rate to 0.5 per cent from 0.25 per cent – the first step...

Yesterday, Minister Steve Clark and the Ontario Government released the much-anticipated report from the Housing Affordability Task Force. The report highlighted that Ontario needs to build 1.5 million homes to meet demand and address the affordability crisis. OREA had asked the Province to create this Task Force and we had a direct role in drafting many of the recommendations, with our own CEO, Tim...

OTTAWA - The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent, but warning it won't stay there for much longer. The trendsetting rate has been at its rock-bottom level since March 2020 during the first wave of the COVID-19 pandemic as the economy went into a downturn and three million jobs were lost.   The central bank said Wednesday the rebound since then...

Conceived and built by Pemberton, this is our flagship residence in Toronto and a new beacon of luxury living in the city’s most prestigious location. Rising 42 and 68 stories tall, the two towers form a unified vision from the renowned architects-Alliance. Stunning textural installation art by Nicolas Baier adorns the podium and symbolizes the connection to the neighborhood. Inside, modern and...

The Government of Ontario has introduced new changes to the Condominium Act, 1998 related to an expansion of the jurisdiction of the Condominium Authority Tribunal (CAT) – the Province’s virtual tribunal that helps resolve condo-related disputes. As of January 1st, 2022, the CAT will be granted the authority to handle disputes involving nuisances, annoyances, and disruptions. Specifically,...