Author: homegoal.ca
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada To Face 2nd Largest Recession Ever If It Enters A Trade War: BoC Canada isn’t responding well to American tariff threats, and it can cost both countries a lot. National Bank of Canada (NBF) looked at the BOC modeling done back in 2019 to assess the unlikely scenario we’re facing. NBF analysts warn a broad 25% tariff as threatened, would lead to a 6% drop for Canada’s GDP. This would make it the largest non-pandemic recession in the country’s history. While the US wouldn’t experience an…
Designing your forever home is a monumental task—one that requires careful planning, vision, and an eye for detail. This is the place where you will create lifelong memories, so it’s important to make every choice with longevity and comfort in mind. To help guide you through the process, we’ve compiled the ultimate checklist for designing your forever home, breaking down the essential aspects of functionality, style, and sustainability. Define Your Vision and Lifestyle Needs Before diving into design elements or choosing materials, it’s crucial to have a clear vision for your forever home. The goal is to create a space…
The City of Kitchener has implemented a new bylaw aimed at regulating lodging houses—shared living arrangements where tenants rent individual rooms while sharing common areas like kitchens or bathrooms. The Lodging House Bylaw is designed to improve safety, reduce nuisance issues, and establish clear guidelines for property owners and tenants. These changes are part of Kitchener’s broader strategy to expand affordable housing options in the city while ensuring quality and safety for residents. The bylaw took effect as of January 1, 2025. With the new bylaw now in place, those operating lodging houses will need to follow updated standards. However,…
Fresh off of buying the Elm41 project at 2465 W 41st Avenue in Vancouver out of foreclosure, Vancouver-based real estate developer Landa Global Properties is now also set to buy the Modus project out of receivership, according to filings in the Supreme Court of British Columbia. The Modus project is a collection of 17 townhouses under development at 7576 Granville Street (also known as 1488 Park Drive), a 19,341-sq. ft lot located at the southeast corner of Granville Street and Park Drive in the Marpole neighbourhood of Vancouver. The site is comprised of multiple single-family lots that have been consolidated.…
In the world we live in today, technology and the switch to environmentally friendly is the direction of the future. Our lives are changing to be more advanced and healthier while we try to reduce our carbon footprint. Upgrading our homes and lifestyles can help make a difference in the environment. Want to change your home to start your steps toward a brighter future? We have a list of eco-chic upgrades you can make in your home! Buying Energy Efficient Appliances Upgrading to energy-efficient appliances is one of the most effective ways to enhance both your home’s functionality and your…
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…