Author: homegoal.ca
On January 9, 2025, the governments of Canada and Quebec announced a new housing project to commit to the rapid construction of 500 prefabricated multi-unit homes by 2026. This milestone, part of the Programme d’Habitation Abordable Québec (PHAQ), leverages prefabricated housing technologies to meet urgent housing needs. Addressing Housing Challenges with Prefabrication The initiative aligns with broader efforts to combat challenges like rising construction costs and labour shortages, which have negatively impacted traditional housing development. Prefabricated housing provides a cost-efficient solution, typically 10 to 25% cheaper than conventional construction methods, while also reducing build times by 30 to 50%. This…
It’s a conversation that just won’t quit: Ontario’s population is growing while its homebuilding efforts continue to fall woefully short of what the province objectively needs to house its residents. On Wednesday, the recently-minted Missing Middle Initiative (MMI) revealed that the Province’s population grew by around 500,000 between June 1, 2023 and June 1, 2024. But, by contrast, it added just 82,000 new homes during the same time period. The MMI says that Ontario actually needed some 200,000 new homes to keep up with the rate of population growth last year. That means that Ontario built around 40% of what…
Canada’s brief immigration policy shift will have a much bigger impact than people appreciate. Statistics Canada (Stat Can) released its latest population projections, factoring in the November 2024 immigration policy changes from the IRCC. Most see the 2-year shift as too small to have much impact, forgetting that population growth went from high to out-of-control just two years prior. Comparing the latest projection to last year reveals the brief period will have a compounding effect and trim roughly 4 million people from the long-term projection. Assets priced on the previous projected growth will require a huge adjustment. Canadian Population To…
In 2025, the trend of downsizing is gaining more traction than ever. Whether due to financial considerations, lifestyle changes, or a desire for less clutter and stress, more people are choosing to simplify their living situations. Downsizing offers a range of benefits–lower living expenses, less maintenance, and the chance to live more intentionally. But making the transition successfully requires thoughtful planning and a clear strategy. If you’re considering downsizing in 2025, you’re not alone. In this post, we’ll explore the reasons behind this shift and provide practical advice on how to downsize the right way. Why Are So Many People…
The housing industry knows this story all too well: prices are soaring and demand (until recently) has been relentless yet projects are stalling. The blame often falls on high land values or developer greed, but the real culprit is clear to anyone in the sector—it’s the staggering cost of delivering new homes. The numbers are sobering. The Canada Mortgage and Housing Corporation (CMHC) says that we need to build 5.8 million new homes by 2030 to restore affordability to 2004 levels. If successful, that would mean that a newly built 1,000-square-foot, two-bedroom condo in downtown Vancouver would sell for $620,000…
With approximately 55,000 divorces occurring annually, countless couples face the daunting task of dividing assets, especially the matrimonial home. Divorce is a significant life event, and while it’s never an easy journey, it’s one that requires careful planning, especially when it comes to real estate. For many couples, the family home represents more than just a roof over their heads—it’s a symbol of stability and emotional attachment. But when separation occurs, big questions arise: “What happens to the house?” and “How do we make the best financial decision for our futures?” There are a few key approaches for handling real…
On Wednesday, Toronto-based Primaris REIT (TSX: PMZ.UN) announced $585 million in transactions pertaining to the Southgate Centre mall in Alberta and the Oshawa Centre mall in Ontario, in an early contender for the largest transaction of the year. Primaris REIT is acquiring a 50% interest in Southgate Centre and a 100% interest in Oshawa Centre for an aggregate price of $585 million that consists of $335 million in cash, $75 million of series A units of the REIT (at $21.82 per unit), and $175 million in exchangeable preferred units in a newly formed subsidiary limited partnership.The transaction, with CBRE and…
Canada’s economy is slowing down but that’s not deterring households from borrowing. Statistics Canada (Stat Can) data shows growth of household debt accelerated in November. The move was led by higher demand for mortgage credit which has accelerated over the past year, but still remains below historic levels. Canadian Household Debt Tops $3.02 Trillion Canadian household debt continues to print records while showing signs of acceleration. The outstanding balance climbed 0.4% (+$13.0 billion) to $3.03 trillion in November. Annualized growth came in 3.9% (+$113.3 billion) higher than last year, hitting the highest level since May 2023. Household borrowing is picking…
If you’re in a fast-paced real estate market, it’s common for buyers to face multiple offers on a property. Whether you’re a first-time homebuyer or a seasoned investor, the experience can be both exciting and overwhelming. The good news is that understanding how to handle multiple offers can help you make the best decision and secure the home of your dreams, without feeling rushed or pressured. In this blog post, we’ll dive deep into the strategies and considerations that can guide you through navigating multiple offers as a buyer. Understand Market Conditions Before jumping into any negotiations, understanding your area’s…
More Ontario Realtors now have access to more data as the PropTx MLS database expands to include listings from most boards in the province. PropTx, a wholly-owned and for-profit subsidiary of the Toronto Regional Real Estate Board (TRREB), promises members access to a centralized MLS, a long-standing priority among Realtors, according to TRREB CEO John DiMichele. “This has been a strategic focus, and through the creation of PropTx, was a key mandate for the organization,” says DiMichele. “The participating boards and associations were essential collaborators, recognizing that working together benefits all Realtors. A unified MLS database ensures consistency and continuity…