Inder Chawla's blog

The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

With the effects of US trade actions on economic growth and inflation somewhat clearer, the Bank has returned to its usual practice of providing a projection for the global and Canadian economies in this Monetary Policy Report (MPR). Because US trade policy remains unpredictable and uncertainty is still higher than normal, this projection is subject to a wider-than-usual range of risks.

While the global economy has been resilient to the...

TORONTO — Today, the Ontario government introduced the Fighting Delays, Building Faster Act, 2025 that would, if passed, protect Ontario’s economy and keep workers on the job by cutting red tape, getting shovels in the ground faster and supporting the construction of homes, roads and infrastructure. The proposed legislation also includes measures that would reduce gridlock, relieve backlog at the Landlord and Tenant Board and promote increased supply of rental housing.

“Our government is building a more prosperous, resilient and competitive economy by fighting costly delays and...

September home sales increased in the Greater Toronto Area (GTA) compared to a year earlier, as more homebuyers sought to take advantage of more affordable monthly mortgage payments. Buyers continued to respond to substantial choice in the marketplace by negotiating the average selling price downward.

“The Bank of Canada’s September interest rate cut was welcome news for homebuyers. With lower borrowing costs, more households are now able to afford monthly mortgage payments on a home that meets their needs. Increased home purchases will also stimulate the economy through housing-related...

Rents across Canada have dropped for a full year, but Kingston, Ontario, is bucking the trend with the fastest-rising apartment rents in the country. 

The latest data from Rentals.ca and Urbanation show the average asking rent for all residential properties nationwide fell 3.2 per cent in September compared to a year earlier, landing at $2,123.  

This marks the twelfth consecutive month of annual declines and the first two-year national decrease since January 2022.  

Households paying rent to a homeowner or property management company can feel like throwing money out the window instead of putting it toward equity on a home of their own.

Greater Toronto real estate seen staggering growth in single-detached sales and average price, little sign of slowing despite shortage of available listings:

GTA REALTORS® RELEASE JULY STATS

TORONTO, ONTARIO, August 5, 2021 – With almost 9,400 sales reported in July 2021, demand for ownership housing remained well-above average for the time of year despite being below the record July result set a year earlier. Market conditions actually tightened relative to July 2020, with sales accounting for a greater share of new listings compared to last year. The sellers’ market conditions sustained a double-digit annual rate of price growth.

One in three Canadians considering “workarounds” to buy a home amidst declining housing affordability in Canada, supply shortages:

HOME SWEET CLASSROOM: 

HOW TO UPDATE A HOME TO ACCOMMODATE SCHOOLING:

New Research Shows Potential Land Transfer Tax Hike Would Hurt All Buyers and Sellers:

TORONTO, ONTARIO, July 6, 2021 – June home sales were up compared to last year, but remained below the March 2021 peak and were lower than the number of transactions reported for May 2021, consistent with the regular seasonal trend. The average selling price in June increased by double digits compared to last year as well, but the annual rate of increase moderated compared to the previous three months.