OREA In the News

Norfolk Today: LOCAL REAL ESTATE AGENTS HAVE CONCERNS REGARDING THE LEGALIZATION OF MARIJUANA 

Our Local Simcoe and District Real Estate Board is joining a provincial movement regarding marijuana. The primary concern released in the Ontario Real Estate Association's Action Plan for Cannabis Legalization is regarding people growing marijuana inside the home. Unlike County Staff's concerns regarding marijuana smell, Local President Paul Van Londersele says their interest is for people's health. 

 

Toronto Realty Blog: Home Energy Rating & Disclosure Program Will NOT Be Tied To Property Listings 

Phew! We dodged a bullet there, right folks? Or, am I wrong?  Do some of you out there want all properties listed for sale in the province of Ontario to have a forced energy audit before they can be listed? This might be a new topic for some of you, so let me explain the program, trace back the roots, and then show you the final(?) nail in the coffin…So what happened with the HER&D Program? 

Why will it no longer be tied to property listings, as was the plan? Well, if you ask the Ontario Real Estate Association, it’s because of them. Here’s an email I received, along with the other 70,000 Realtors in Ontario: Dear David, We did It! We have successfully fought back against the Home Energy Rating and Disclosure (HER&D) program. Since 2016, OREA has been fighting to stop HER&D. 

  

Toronto Star: Planning changes are key to increasing land supply 

Anyone who covers or comments on real estate in the GTA has spent some time in the last few months writing about land supply, and how the lack thereof affects housing prices. Many, myself included, think the problem lies less in the actual land available than in the antiquated planning that hinders development. Recent legislation, which took aim at speculators and foreign investors and mandated stress testing for mortgages, hasn’t had much effect. Housing prices continue to outpace income growth, preventing lower- and middle-income earners from buying the kinds of properties “their counterparts in previous generations were able to afford without paying excessive portions of their incomes,” according to a new report. We just keep piling on more debt. 

 

Mortgage Broker News: Canadian housing starts reach decade-best pace in March 

Canadian builders continued their elevated pace of construction in March, with developers producing another stronger-than-expected result. Builders began work on an annualized 225,213 units during the month, Canada Mortgage and Housing Corp. said on April 10. Construction has averaged 226,842 units since October, the highest six-month average in a decade. This represented a jump in construction that has surprised policy makers and analysts, giving a boost to the economy and a vote of confidence in a real estate market coping with tougher regulations. 

 

  

Business Examiner: Canada’s Banking Industry Facing Challenges from Fintech and Housing Market Slowdown 

Canada’s banking industry is facing increased competition from financial technology firms and weakening demand for mortgages and other consumer debt as interest rates continue to rise. 

Despite these challenges, pre-tax profits in Canada’s banking sector continue to trend upward and are expected to climb to over $95 billion this year, according to The Conference Board of Canada’s latest Canadian Industrial Outlook: Banking. 

 

 

Newswire: Province Adds More Politics When We Need Partnerships for More Homes 

With last minute changes to the inclusionary zoning regulations under the Promoting Affordable Housing Act, the Province is shirking its responsibilities by giving too much authority to municipalities and undermining the partnership balance required to deliver government-mandated affordable housing in Ontario. "We need a partnership, and today we just got more housing politics.  It is disappointing and frustrating to see the provincial government walk away from their own partnership model and leave the only real housing providers to negotiate with municipalities," said Joe Vaccaro, CEO of OHBA.  "Leaving housing providers to negotiate how to provide government-mandated affordable housing with municipalities will only make things more political and fuel more NIMBY-motivated actions and councillors. Adding housing supply and choice to communities across Ontario just got more political when what we need is government leadership and partnership to get more homes to the market," said Vaccaro.


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Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988