Canadian Real Estate News Headlines (June 18th 2019)

Hello everyone. How are you?

I provide you with Canada’s news headlines for real estate news for today.

Montreal and Toronto are both facing a housing crisis. What separates them is political will

Over the decades, Canada’s big cities have faced many problems and prevailed. Now they are up against their toughest adversary yet — success.

Toronto and Vancouver were first; today Montreal is also being priced out of contention. Growing demand for urban life has pushed the cost of housing to unprecedented heights. It doesn’t help that real estate has been commodified in this country and others.

So it’s no surprise urban dwellers are finding it harder than ever to rent or buy a place of their own. This is one of many reasons why Canada’s standard of living is falling for the first time since the 1950s.

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New first-time homebuyer incentive plan criticized by members of housing industry

The federal government unveiled details of its long-awaited plan to help first-time homebuyers on Monday, but already some in the industry say it may not be enough to help those looking to buy their first home in Canada’s hottest real estate markets.

The Minister of Families, Children and Social Development Jean-Yves Duclos says the program will help Canada's middle class and save new homeowners hundreds of dollars a month on their mortgages.

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