By BlackWallStreet.ca | April 7, 2025

If you’ve been sitting on the sidelines wondering when to jump into the Toronto GTA housing market—now might be the time to start paying close attention. According to new numbers from the Toronto Regional Real Estate Board (TRREB), homeownership is actually more affordable now than it was this time last year.

What’s the Move Right Now?

Thanks to a combo of lower interest rates and a dip in home prices, monthly mortgage payments have become a little less painful—and let’s be real, that’s major for first-time buyers and young families just trying to get a foot in the door.

“Homeownership has become more affordable over the past 12 months, and we expect further rate cuts this spring,” said TRREB President Elechia Barry-Sproule.

“Buyers will also benefit from increased choice, giving them greater negotiating power.”

Translation: you’ve got more options and more leverage. It’s no longer just a seller’s market. Buyers are stepping back into the spotlight.

Sales Down, Listings Up = Power to the People

Toronto Real Estate Stats for March 2025

• 5,011 homes sold in March 2025 – that’s down 23.1% from March 2024.
• 17,263 new listings hit the market – that’s up 28.6% year-over-year.
• Average home price: $1,093,254 – down 2.5% from last year.

In short: more inventory, fewer buyers = more breathing room for anyone looking to enter the market without getting caught in a bidding war frenzy.

What’s Holding People Back?

Let’s keep it real—uncertainty is still in the air. With a federal election coming up and trade issues bubbling in the background, some potential buyers are taking a “wait-and-see” approach.

“Home buyers need to feel their employment situation is solid before committing to monthly mortgage payments over the long term,” said Jason Mercer, Toronto Regional Real Estate Board’s (TRREB) Chief Information Officer.

And that totally makes sense. Buying a home is a major life move, and folks want to make sure their jobs—and the economy—are on solid ground before they leap.

Housing = Political Hot Topic

One thing’s clear: housing remains one of the biggest concerns heading into the federal election. All major parties are putting housing front-and-center in their platforms, which reflects what many Canadians (especially young and diverse communities) have been saying for years—we need real, affordable options, not just talk.

“Building this housing will be a key economic driver moving forward,” said TRREB CEO John DiMichele.

Final Word: Don’t Sleep on the Shift

If you’re in the market—or even just thinking about it—this is a smart time to get educated, get pre-approved, take advantage of home buying grants and start scouting options. The window for affordability may not last forever, and if interest rates drop further, more buyers will flood back in.

Keep your eyes open, your finances ready, and your energy optimistic.

Stay tapped into Toronto’s housing game with BlackWallStreet.ca—your source for real estate news, financial empowerment, and everything that moves our communities forward.

The post Toronto GTA Housing Market in April 2025: More Affordable Homes, More Choices for Buyers appeared first on Black Wall Street Canada.

Key Takeaways:

• The Bank of Canada (BoC) will announce its next lending rate decision on March 12, 2025.
• The BoC’s lending rate impacts the interest rates banks charge on mortgages, loans, and other financial products.
• TD Economist Derek Burleton expects the BoC to cut its lending rate by 25 basis points, bringing it down to 2.75%.

With the next Bank of Canada rate announcement just around the corner, Canadians are watching closely to see if another interest rate cut is on the horizon.

In January 2025, the BoC lowered its lending rate by 25 basis points, reducing it from 3.25% to 3%. Now, many are wondering whether the central bank will take further steps to ease borrowing costs.

Will There Be Another Rate Cut?

According to TD Economist Derek Burleton, the BoC is likely to cut its lending rate again in March.

“We are anticipating a follow-up cut in March, and TD Economics predicts the central bank will bring its lending rate down to 2.75%,” Burleton stated.

Initially, market odds of a rate cut dropped as low as 30% following recent inflation data. However, these odds have surged to 90% after the U.S. imposed new tariffs on Canadian exports. While there’s still a possibility of a rate hold, experts believe that another cut is increasingly likely.

Burleton explained that economic risks, particularly U.S. tariffs, are a key concern for the Bank of Canada.

“Even though Canada’s job market and GDP growth have remained strong, the BoC must ensure the economy is prepared for the impact of U.S. tariffs on Canadian exports,” he said.

What a Rate Cut Means for Canadians

The BoC’s lending rate serves as a benchmark for the interest rates that banks charge on financial products, including mortgages, personal loans, and business loans.

• When the BoC lowers its rate, borrowing money can become cheaper for Canadians.
• When the BoC raises its rate, loans and mortgages typically become more expensive.

For Canadians with variable-rate mortgages, a rate cut could mean lower interest costs, allowing more of their payments to go toward the mortgage principal. However, for fixed-rate mortgage holders, changes in the BoC’s rate don’t immediately impact their payments, as fixed mortgage rates are usually tied to five-year bond yields.

Navigating Economic Uncertainty

Burleton highlighted that new U.S. tariffs on Canadian exports could significantly impact the economy and job markets.

Additionally, Canada’s retaliatory tariffs on U.S. goods could drive inflation higher.

“If the U.S. keeps a tariff cloud hanging over our economy, it could dampen investment and hiring, leading to weaker economic performance,” Burleton warned.

What’s Next?

Whether or not the BoC announces a rate cut in March, TD Economics predicts more rate cuts are coming in 2025.

“We’re forecasting additional cuts this year, bringing the lending rate down to 2.25% by the end of 2025,” Burleton said.

Stay Informed About Your Money

Want to learn more about how interest rates and economic policies affect your finances? Stay tuned in with BlackWallStreet.ca

The post Will the Bank of Canada Cut Interest Rates Again in March 2025? appeared first on Black Wall Street Canada.

The Great Toronto Housing Debate: Renting vs. Buying

If you live in Toronto, you’ve probably had this debate at least once: should you keep renting or buy a home? With real estate prices soaring and rent climbing just as fast, it’s a big decision that comes with serious financial and lifestyle considerations. Whether you’re a first-time buyer or a seasoned renter, let’s break it all down so you can decide what makes sense for you.

The Case for Renting: Flexibility and Less Stress

1. Lower Upfront Costs

One of the biggest perks of renting is avoiding the hefty upfront costs of homeownership. You don’t need to cough up a six-figure down payment, pay land transfer taxes, or shell out thousands for closing costs. Instead, a security deposit and first month’s rent are usually enough to get you into a place.

2. More Financial Freedom

Renting gives you more freedom to invest your money elsewhere. Rather than tying up your cash in a mortgage, you can build wealth through stocks, business ventures, or even side hustles.

3. Less Responsibility

When you rent, your landlord is the one dealing with leaking pipes, broken appliances, and property taxes. That means fewer surprise expenses and less stress over unexpected repairs.

4. Flexibility to Move

Toronto’s job market is competitive, and you never know when you might need to move for better opportunities. Renting makes it easier to pack up and relocate without worrying about selling a home.

5. No Market Risk

Home values fluctuate, and if the market drops, homeowners can lose equity. Renters don’t have to stress over real estate crashes.

6. No Property Taxes

Owning a home in Toronto comes with expensive property taxes. Renters don’t have to worry about this added cost.

7. No Maintenance Costs

Homeowners are on the hook for repairs and maintenance, from leaky roofs to broken furnaces. Renters avoid these expenses.

8. Access to Better Locations

Sometimes, renting allows you to live in prime locations that would be unaffordable to buy in. Think downtown Toronto or trendy neighborhoods like King West.

9. Less Long-Term Commitment

If your life plans are uncertain, renting offers more flexibility. You can move easily if your job, relationship, or personal goals change.

10. Easier to Upgrade

Need more space? Renting allows you to upgrade to a larger unit without the hassle of selling a home first.

The Case for Buying: Building Equity and Long-Term Stability

1. Building Wealth Over Time

Owning a home means you’re investing in yourself, not paying off someone else’s mortgage. As home values in Toronto continue to rise, your property could appreciate significantly over time.

2. Stable Monthly Payments

With a fixed-rate mortgage, your monthly payments stay predictable, unlike rent, which tends to increase every year. This gives you long-term financial stability.

3. Freedom to Customize

Say goodbye to landlords telling you what you can and can’t do. Owning means you can paint, renovate, and truly make your home yours.

4. A Forced Savings Plan

A mortgage forces you to save by building equity. Every payment you make is an investment in your future, unlike rent, which never comes back to you.

5. Tax Benefits

Homeowners can benefit from tax deductions like mortgage interest and property tax deductions, helping to reduce overall costs.

6. Rental Income Potential

If you buy a property with a basement apartment or an extra unit, you can rent it out and generate extra income.

7. Pride of Ownership

Owning a home gives you a sense of stability and pride. It’s a space that’s truly yours, where you can create lasting memories.

8. Protection from Rent Increases

With rising rent prices in Toronto, homeowners avoid the stress of annual increases and landlord decisions.

9. More Stability for Families

If you have kids or plan to start a family, homeownership provides stability and the opportunity to put down long-term roots.

10. Potential to Leverage Home Equity

As your home gains value, you can borrow against the equity for renovations, investments, or other financial needs.

Toronto Real Estate: Is Buying Even Possible?

The average home price in Toronto is well over $1 million, making ownership feel out of reach for many. However, there are ways to get into the market, including:

• First-time homebuyer programs that offer tax rebates and incentives
• Co-buying with family or friends to split the costs
• Considering condos instead of houses for a more affordable entry point
• Looking outside the downtown core for better deals

Renting vs. Buying: Which Is Right for You?

Ultimately, the decision depends on your financial situation, career plans, and personal goals. If flexibility and lower costs are your priority, renting might be the better choice. But if you’re ready to commit and invest in your future, homeownership could be worth the sacrifice.

Whichever route you choose, the key is making a decision that fits your lifestyle and financial well-being. What’s your take? Thinking about buying? Contact Us for a free Buyers Consultation with one of our licensed real estate agents.

This article is complete, check out more great content at Black Wall Street News Blog

The post Should You Keep Renting or Buy a Home? appeared first on Black Wall Street Canada.

The Toronto Regional Real Estate Board (TRREB) has released its Market Outlook and Year in Review report, forecasting a buyer-friendly real estate market in 2025. With slower price growth and lower borrowing costs, more buyers who have been waiting on the sidelines are expected to enter the market. Additionally, polling indicates that nearly two-thirds of renters won’t tolerate further rent increases before seriously considering homeownership.

More Supply, Slower Price Growth

TRREB anticipates a well-supplied market in 2025, which should help curb home price increases in the Greater Toronto Area (GTA). As a result, home prices are expected to grow at a rate below inflation, making conditions more favorable for buyers. The board projects 76,000 home sales this year, marking a 12.4% increase over 2024.

However, TRREB cautions that economic uncertainty, particularly trade disputes, could dampen consumer confidence. If the U.S. imposes tariffs on Canadian exports, demand for goods and services could decline, potentially leading to layoffs and reduced purchasing power. Aggressive interest rate cuts from the Bank of Canada may help offset these risks.

Buyer Sentiment Holding Steady

Polling conducted by Ipsos for TRREB suggests buyer confidence remains stable, with 28% of respondents likely and 9% very likely to buy a home in 2025—figures consistent with 2024 expectations. First-time buyers are expected to play a significant role in the market, particularly in the condominium segment, where prices may remain flat or trend downward.

Renters Weighing Homeownership

As housing affordability improves, more renters are considering making the transition to homeownership. According to the report, two-thirds of renters say they will seriously consider buying if rent continues to rise. At the same time, investors are expected to list more condominium units for rent, increasing the rental supply and keeping average rents below recent peaks.

Seller Sentiment and Price Forecast

On the selling side, 37% of respondents say they are likely to sell in 2025, while 14% are very likely—a sentiment similar to last year. TRREB forecasts that the average home price across all property types will reach $1,147,000, representing a moderate 2.6% increase over 2024. Single-family homes, including detached, semi-detached, and townhouses, are expected to see the most noticeable price growth.

Overall, 2025 is shaping up to be a more balanced market, with increased supply, stable buyer confidence, and moderating price growth, making it a promising year for those looking to enter the housing market.

This article is now complete. Be sure to check out BlackWallStreet.ca for regular news and updates

The post Toronto Real Estate Board Forecasting ‘Buyer-Friendly’ 2025 appeared first on Black Wall Street Canada.

Ontarians are stepping into 2025 with a host of new laws and regulations that could impact their daily lives. From housing and transportation to childcare and waste management, here’s a breakdown of the major changes citizens should be ready for this year.

Rental Renoviction Bylaw: Protecting Tenants

One of the most notable changes is the introduction of the Rental Renoviction Bylaw, designed to combat unfair evictions. But what exactly is renoviction? This term refers to landlords evicting tenants under the guise of renovating the property, only to re-rent it at a much higher rate.

Toronto officials are cracking down on this practice, which has disproportionately impacted low-income and marginalized communities. Starting July 31, 2025, landlords issuing an N-13 notice for renovations must comply with strict requirements, including:

• Applying for a Rental Renovation License (with a $700 application fee).
• Providing approved building permits and a report verifying the need for vacant possession.
• Submitting a tenant accommodation and compensation plan.
• Offering severance compensation if tenants opt not to return.

This new bylaw aims to bring fairness to Toronto’s tight rental market, providing tenants with much-needed protection.

Zoning Changes for Nightclubs

Another notable regulation is the new zoning bylaw for nightclubs in downtown Toronto. The rules aim to reduce the number of nightclubs in the city center, mandating that entertainment establishments must:

• Be located in non-residential buildings.
• Be the only nightclub in the building.
• Operate only on the first floor or basement.

These restrictions could result in nightclubs moving to other areas of the province—a potential shift in Ontario’s entertainment landscape.

Highway 407 ETR: New Toll Rates

Frequent users of Ontario’s Highway 407 ETR will notice changes to toll rates. Starting this year, a new rate schedule will take effect, with charges based on vehicle classifications:

• Motorcycles: 0.8x the light vehicle rate.
• Medium vehicles: 1.5x the light vehicle rate.
• Light vehicles: Rates ranging from 3 to 14 cents per kilometer, depending on time and zone.

The highway’s current four zones will expand to 12, allowing for more precise toll adjustments. While this may better reflect road usage, drivers should prepare for potentially higher costs.

Rising Waste and Water Fees

Ontarians will face higher waste and water fees in 2025. Starting January 1, rates will increase by 3.75%, impacting households as follows:

On average, a single-family household will see an additional $39 annually, bringing the total cost for waste and water services to $1,078.

Other Key Changes in 2025

Here are additional laws and regulations to keep on your radar:

• New Building Codes:
  • Updated codes take effect January 1, 2025, with a three-month grace period until March 31 for ongoing designs.
• Affordable Childcare:
  • Parent fees in CWELCC (Canada-wide Early Learning and Child Care) programs will be capped at $22 per day for children under six.
• Digital Workers’ Protection:
  • Starting July 1, Ontario’s Digital Platform Workers’ Rights Act will ensure workers (e.g., Uber, DoorDash) are paid at least minimum wage per assignment and provided clear pay calculations.
• Immigration Adjustments:
  • The federal government plans to reduce permanent resident intake from 500,000 in 2024 to 395,000 in 2025, temporarily slowing population growth.
• GST/HST Food Tax Break:
  • Temporary savings on food bills for families spending $2,000+ monthly will end in February 2025.

What Does This Mean for Ontarians?

With rising costs and tighter regulations, 2025 brings both challenges and opportunities for Ontarians. While some laws, like the Rental Renoviction Bylaw and Digital Workers’ Protection Act, provide safeguards for vulnerable groups, others, such as increased waste fees and highway tolls, may strain household budgets.

It’s a year of adjustment, and staying informed is key. For more updates and community-focused insights, visit BlackWallStreet.ca.

The post What New Laws, Rules & Regulations Should Ontario Citizens Be Prepared for in 2025? appeared first on Black Wall Street Canada.

Introduction: Building Wealth Through Real Estate in Ontario

The Ontario housing market in 2025 is more than just an opportunity for homeownership—it’s a chance to build generational wealth. With mortgage rates dropping and home prices stabilizing, the barriers to entry for buyers are lower than they’ve been in years. For communities focused on economic empowerment, like those supported by BlackWallStreet.ca, the current market conditions open the door for meaningful investment opportunities. This article will explore how the Ontario housing market is evolving, what it means for wealth building, and actionable steps you can take to seize the moment.

A Snapshot of the 2024 Housing Market: Setting the Stage

Lower Borrowing Costs

The Bank of Canada’s decision to reduce interest rates in late 2024 has had a profound impact on the housing market. Lower rates mean more affordable monthly mortgage payments, allowing more people to enter the market and start building equity.

Stable Prices, Bigger Opportunities

In 2024, the average selling price of homes in Ontario was $1,117,600—slightly lower than the $1,126,263 average in 2023. While prices for detached and semi-detached homes held firm, the condominium market saw notable declines. This trend makes condos an accessible entry point for new buyers, particularly those seeking to maximize their long-term return on investment.

Increased Inventory, Increased Choice

With new listings up 16.4% compared to 2023, buyers in 2024 had access to a wealth of options (Via Toronto Real Estate Board). This trend continues into 2025, giving prospective homeowners and investors the ability to be selective and negotiate favorable deals.

Why the 2025 Housing Market Matters for Wealth Building

Real Estate as a Long-Term Asset

Real estate has long been a cornerstone for building generational wealth. By purchasing property, families can secure an appreciating asset that provides both stability and financial growth over time. With lower interest rates and stable prices, the 2025 market creates a prime environment for this type of wealth building.

Opportunities in Underserved Communities

For Black communities across Ontario, the current market offers a chance to close the wealth gap. By investing in property now, families can begin to build equity and pass down assets to future generations. Condo apartments, with their lower price points, are particularly appealing for first-time buyers looking to enter the market affordably.

Steps to Take Advantage of the Market

1. Research High-Growth Areas

Not all neighborhoods offer the same investment potential. Look for areas with strong infrastructure projects, new developments, and growing job markets. Properties in these locations are more likely to appreciate over time, making them excellent options for long-term wealth building.

2. Work with a Knowledgeable Realtor

Navigating the housing market can be complex, but the right real estate agent can make all the difference. Partner with someone who understands your community’s needs and has experience identifying high-potential properties.

3. Leverage Government Programs

Ontario offers a variety of programs aimed at helping first-time buyers, including down payment assistance and tax credits. Take advantage of these resources to reduce your upfront costs and make homeownership more attainable.

4. Secure Pre-Approval for a Mortgage

Getting pre-approved for a mortgage gives you a clear understanding of your budget and strengthens your position when negotiating with sellers. With rates currently low, locking in a favorable term is crucial.

The Condo Market: A Gateway for First-Time Buyers

Condominiums are an excellent starting point for new buyers and investors. With prices dipping in 2024 and plenty of inventory available, condos offer an affordable way to enter the real estate market. Urban areas, in particular, provide access to amenities and potential for appreciation, making them a smart choice for those looking to build equity quickly.

Overcoming Challenges and Planning for the Future

While the market is favorable, challenges like navigating financing options and understanding market trends remain. Education and strategic planning are key. Resources like BlackWallStreet.ca provide tools and insights to help you make informed decisions and maximize your investment potential.

Conclusion: Turning Market Conditions into Wealth-Building Opportunities

The Ontario housing market in 2025 is ripe with opportunities for building generational wealth. By taking advantage of lower interest rates, increased inventory, and accessible price points, you can secure a property that becomes a cornerstone for your financial future. Whether you’re a first-time buyer or an experienced investor, now is the time to act.

Ready to start your journey toward wealth through real estate? Visit BlackWallStreet.ca for expert advice, resources, and support tailored to your needs.

The post Market Watch: Ontario Housing Market 2025 appeared first on Black Wall Street Canada.

Published by BlackWallStreet.ca | January 2025

Ontario is making strides in energy efficiency and affordability with its new Home Renovation Savings Program, set to launch on January 28, 2025. This initiative is a much-needed relief for homeowners struggling with high energy and construction costs, particularly in the Greater Toronto Area (GTA).

This program isn’t just about cutting energy bills—it’s about empowering homeowners to create more sustainable, energy-efficient living spaces while boosting property values.

What Is the Home Renovation Savings Program?

As part of Ontario’s $10.9 billion investment in energy efficiency, this program provides homeowners with rebates of up to 30% for energy-efficient renovations. Eligible projects include:

• Installing new windows and doors
• Adding insulation to improve energy retention
• Upgrading to smart thermostats or heat pumps
• Investing in rooftop solar panels and battery storage systems

Later in 2025, the program will expand to include rebates on energy-efficient appliances like refrigerators and freezers, giving homeowners even more opportunities to save.

Why This Program Matters

With skyrocketing energy costs, families and individuals across Ontario are feeling the pinch. The Home Renovation Savings Program tackles this head-on by making it easier for homeowners to invest in upgrades that will:

1. Lower monthly utility bills
2. Increase home value through eco-friendly renovations
3. Contribute to environmental sustainability

Impact on Housing Affordability

One of the standout benefits of this program is its effect on housing affordability. By helping families cut long-term energy expenses, it indirectly addresses one of the biggest challenges facing homeowners today: the rising cost of living.

Energy-efficient homes don’t just save money—they’re also more attractive to buyers, creating a win-win for current and future homeowners.

Incentives, Not Mandates

Unlike some policies that impose mandatory requirements, this program uses financial incentives to encourage energy-efficient upgrades. It’s a practical and forward-thinking approach that allows homeowners to make informed choices based on their unique needs and circumstances.

What This Means for Black Homeowners

For Black homeowners in Ontario, programs like this are a pathway to building generational wealth. By improving property values and lowering expenses, families can better manage their financial futures. Energy-efficient upgrades also align with community values of sustainability and long-term planning.

How to Get Started

The program officially launches on January 28, 2025. To take advantage:

1. Review the eligible renovations and upgrades mentioned above.
2. Consult with licensed professionals to plan your projects.
3. Visit Ontario.ca or contact the program administrators for detailed rebate information.

Final Thoughts

Ontario’s Home Renovation Savings Program is a game-changer for homeowners looking to save on energy costs and enhance their property value. Programs like this demonstrate how government investment can create meaningful opportunities for families, especially those in the Black community, to thrive sustainably.

Don’t miss your chance to take advantage of these rebates—invest in your home, save money, and contribute to a greener future.

For more updates on housing affordability and sustainability, stay connected with BlackWallStreet.ca

The post Ontario Home Renovation Savings Program: A Game-Changer for Energy Efficiency appeared first on Black Wall Street Canada.

Buying a home is one of the most significant milestones in life, but it can also be a financial challenge. To help more families achieve the dream of homeownership, we are proud to announce the Black Wall Street Home Buyer Grant Program. This program is designed to empower individuals and families with financial support that makes homeownership more accessible and sustainable.

What is the Black Wall Street Home Buyer Grant?

The Black Wall Street Home Buyer Grant is a unique initiative that provides financial assistance to eligible homebuyers. This grant aims to reduce the financial barriers associated with purchasing a home, particularly for those who are first-time buyers or belong to underserved communities. The grant is a step toward building stronger communities and fostering economic empowerment.

Key Benefits of the Grant Program

Here’s how this grant can make a difference:

1. Financial Assistance: The grant helps offset the costs of buying a home, such as down payments, closing costs, or minor renovations.
2. Boosts Affordability: It bridges the gap between what buyers can afford and the home they desire, making homeownership more attainable.
3. Encourages Savings: By reducing initial costs, the grant allows homebuyers to allocate more funds toward savings or other important expenses.
4. Promotes Stability: Owning a home fosters long-term stability and provides a foundation for building generational wealth.

Eligibility Requirements

To qualify for the Black Wall Street Home Buyer Grant, applicants must meet specific criteria, which may include:

• Being a first-time homebuyer or not having owned a home in the past three years.
• Meeting income requirements based on household size and location.
• Intending to use the purchased property as their primary residence.

Additional details about eligibility and application requirements will be provided during the application process.

How to Apply

Applying for the Black Wall Street Home Buyer Grant is simple:

1. Connect with Our Team: Reach out to a program representative to discuss your eligibility and homeownership goals.
2. Submit Your Application: Provide necessary documents and complete the application form.
3. Receive Support: Once approved, the grant will be provided within 15 business days after your home purchase closing date.

Why This Program Matters

Homeownership is more than just owning a property; it’s about creating opportunities, stability, and a legacy. The Black Wall Street Home Buyer Grant Program is committed to empowering communities by reducing barriers and opening doors to a brighter future.

Get Started Today

If you’re ready to take the next step toward owning your dream home, the Black Wall Street Home Buyer Grant is here to support you. Contact us today to learn more about this incredible opportunity and start your journey to homeownership.

Together, let’s build stronger communities and create a legacy of wealth and empowerment through homeownership.

The post Introducing the Black Wall Street Canada Home Buyer Grant Program appeared first on Black Wall Street Canada.

In the wake of Federal Minister of Finance Chrystia Freeland’s unveiling of Canada’s 2023 Fall Economic Statement (FES), a paradigm shift emerges. Unlike the previous Spring 2023 budget, this statement stands out for its resolute inclusion of explicit spending measures tailored to combat the housing and affordability crisis gripping the nation.

The FES reflects the government’s commitment to addressing these issues by preparing to unveil a series of affordability policies. It’s a collaborative effort, working hand in hand with stakeholders to shape the upcoming year’s budget. This renewed focus underscores the Liberals’ dedication to core priorities like housing affordability and the overall cost of living while maintaining fiscal prudence.

A notable highlight in the statement is the allocation of an additional $15 billion in new low-interest financing, slated to commence in 2025–26. This funding, earmarked for the Apartment Construction Loan Program (formerly known as the Rental Construction Financing Initiative), aims to amass over $40 billion in loan funding, ultimately leading to the creation of more than 30,000 new homes across Canada.

Furthermore, a substantial allocation of $1 billion over three years, commencing in 2025–26, has been earmarked for the Affordable Housing Fund. This fund aims to bolster non-profit, co-op, and public housing providers in constructing over 7,000 new homes by 2028, a pivotal step towards addressing the pressing housing shortage.

Another noteworthy addition in the updated plan is the extension of HST removal eligibility to co-operative housing corporations engaged in long-term rental accommodation. These corporations, akin to new purpose-built rental housing projects, can now leverage this provision, provided they meet the prescribed conditions.

Canada’s 2023 Fall Economic Statement presents a strategic blueprint for addressing the critical challenges of housing affordability and cost of living. Stay informed as these measures unfold, aiming to reshape the real estate landscape and provide sustainable solutions for Canadians seeking affordable housing options.

Understanding the trajectory of these updates is vital as they shape the country’s real estate narrative, influencing decisions and paving the way for a more inclusive and accessible housing market for all Canadians.

Written by: Realtor Sean Findlay

The post Canada’s 2025 Real Estate Plan: A Focus on Housing and Affordability appeared first on Black Wall Street Canada.

Last month, Canadian home prices encountered a setback due to increased interest rates, marking the first decline in five months according to the latest Teranet-National Bank Composite House Price Index.

The index, which monitors home prices across 11 CMAs based on observed or registered sales at least twice, experienced a 0.4% drop on a seasonally adjusted basis between September and October. Before seasonal adjustments, there was a 1% slip in September (following a 1.3% decrease the month before), signifying the second consecutive monthly decline.

Teranet and National Bank attribute these declines to a broader slowdown in the resale market. They point to rising interest rates, worsened affordability concerns, and a less vibrant job market as key factors contributing to this shift.

Market conditions have relaxed nationwide, resulting in an increase in the months of inventory to 4.1 in October. Although this level mirrors pre-pandemic figures, it remains lower than the historical norm, according to a press release accompanying October’s report.

While the composite index presents a weighted average of observed or registered home prices in various Canadian cities, specifically Victoria, Vancouver, Calgary, Edmonton, Winnipeg, Hamilton, Toronto, Ottawa-Gatineau, Montreal, Quebec City, and Halifax, Teranet and National Bank track prices in a total of 31 Canadian cities. Of these, 58% experienced some degree of softening in home prices.

Toronto (-1.6%), Edmonton (-1.2%), Vancouver (-1.1%), Ottawa-Gatineau (-1.1%), Saint John (-5.3%), Trois-Rivières (-3.3%), and London (-2.5%) saw month-over-month declines in home prices, whereas Montreal (+3.7%), Halifax (+1.1%), Winnipeg (+1.0%), Moncton (+4.6%), Kingston (+3.8%), and Peterborough (+2.6%) recorded increases.

The press release anticipates further price declines in the upcoming months, citing persistently high interest rates and a less favorable economic context as challenges for the sector, despite the historical demographic growth.

On a year-over-year basis, the index showed a 2.8% increase last month. This rise was attributed to gains in Halifax (+12.5%), Victoria (+6.5%), Quebec City (+6.3%), Moncton (13%), and Sherbrooke (9.4%). Conversely, Edmonton (-3.6%), Ottawa-Gatineau (-0.5%), London (-2.1%), and Barrie (-0.9%) experienced declines in home prices compared to the previous year.

Written by Realtor Sean Findlay

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