Monthly we receive an update from John Plumadore, Chair, FMTA and PVTA continues to share this very informative and useful information. Check it out!
Students Living in Unacceptable Conditions
in Toronto’s Parkside Residence Could Get a Reduction in Rent, Steven Goetz, Metro News, Sep 23
The article quotes Geordie on
students being first-time renters and ACTO’s Ken Hale on legal options that the
tenants at Parkside might have. The developer Nightstone,
promised luxury apartments for students but the reality consists of crumbling
ceilings, clogged toilets and acute disrepair. The city cannot act on the
broken promises made to students: it can
only enforce municipal code violations. Students might be able to apply to the
Landlord and Tenant Board for a reduction in rent.
Trends in the Housing Market
CMHC to Look at Trends in Foreign Ownership
in Canadian Real estate
Alexandra Posadzki, Toronto Star, Sep 24,
2015
· Addressing a data gap, CMHC has
begun consulting with other data sources, will conduct survey and roundtables
to gage the extent of foreign ownership in the Canadian housing market. Foreign demand and ownership
has been blamed for rising house prices in Vancouver (and elsewhere)
Affordable Housing: A Crippling Crisis with
an Obvious Solution
David Olive, Toronto Star, Sep 24, 2015
· The impacts of a lack of
affordable housing: insufficiently competitive workforce, poorer health
outcomes, increased crime in specific communities, Myth of Labour mobility: over the
last few decades, the best and brightest workers have been priced out of cities
such as Vancouver and Toronto which poses difficulties for the corner grocers
and large corporation alike. Impacts on tenants: Only 10% of
new housing built in the last decade is rental housing though 33% of Canadians
live in rental housing. 1 in 5 Canadians who are renters are in crisis,
spending over 50% of their after-tax income on housing. As more and more condo
construction on the downtown core drives workers into the ex-burbs, there has
been a rapid increase in rents in these and rural areas as well. An easy answer: the problem is
set to get worse before it gets better. The solution, A National Housing
Strategy.
Thank you John!
