COVID-19 pandemic prompts urbanites to rethink ‘grand bargain’ of dense city living

MONTREAL — The densely populated slums of Montreal’s Griffintown were the subject of a famous 1897 study by businessman and philanthropist Herbert Ames, whose work on the disease-ridden tenements influenced generations of urban planners on how to develop healthy cities. Ames’s study, “The City Below the Hill,” is just one example, say academics in urban planning, of how the development of cities...

Real Estate Industry Criticizes CMHC’s ‘Irresponsible,’ ‘Panic-Inducing’ House Price Forecast

CMHC president Evan Siddall speaks to the Canadian Club of Toronto, Thurs. June 1, 2017. Siddall is taking criticism from real estate industry insiders over a pessimistic forecast for Canadian housing. (Photo: Nathan Denette/The Canadian Press) MONTREAL ― Members of Canada’s real estate and mortgage lending industries have lashed out at the head of the country’s government-run mortgage...

COVID-19 pandemic prompts urbanites to rethink ‘grand bargain’ of dense city living

MONTREAL -- The densely populated slums of Montreal's Griffintown were the subject of a famous 1897 study by businessman and philanthropist Herbert Ames, whose work on the disease-ridden tenements influenced generations of urban planners on how to develop healthy cities. Ames's study, "The City Below the Hill," is just one example, say academics in urban planning, of how the development of cities has been...

Health Crisis Slows Down Montreal’s Residential Real Estate Market

Although March 2020 was one of the busiest months in Montréal’s residential real estate market, the Québec Professional Association of Real Estate Brokers (QPAREB) reports that the COVID-19 pandemic contributed to a slowdown in the second half of the month. “In Québec, Montréal is the CMA that is most affected by the spread of the virus, due to the city’s greater exposure to international trade...

Quebec real estate brokers get the green light to return to work amid COVID-19 pandemic

MONTREAL -- The Quebec government has authorized the province's real-estate brokers to get back to work during the COVID-19 pandemic, but it won't exactly be business as usual. The brokers have been granted permission to work only on transactions deemed to be a priority, defined as those that must be completed before July 31. The Organisme d'autoreglementation du courtage immobilier du Quebec (OACIQ),...

Greater Montreal Area Real Estate Market Saw Record Performance in the First Quarter of 2020, Prior to COVID-19 Pandemic

Greater Montreal Area’s aggregate home price rose 7.2% year-over-year in the first quarter of 2020, the region’s second consecutive year-over-year quarterly record in almost a decade Royal LePage forecast that if business activity resumes by late spring, home prices in the region should remain stable with a slight decrease of 0.5% by the end of the year, while the decline could be more pronounced,...

Is now a good time to buy a house? Could be

The COVID-19 pandemic has created economic uncertainty, causing Canadians to hit the pause button on many aspects of everyday life. Buying a new home may be the furthest thing from your mind right if you’ve been laid off or face employment uncertainty. On the other hand, if your income sources are secure, it might be a good time to consider a new home purchase, especially while mortgage interest rates...

Making the best of it: staying productive during COVID-19

As the COVID-19 pandemic rages on – more than 900,000 cases were confirmed worldwide at time of writing, with over 8,600 in Canada – brokers and their clients are staring down the barrel of at least another two weeks of strict social distancing. Waking up each day to a cocktail of rising death tolls and sinking stock prices can leave even the most dedicated mortgage professional struggling to stay...

Montreal’s multifamily housing to reel from coronavirus impact

Despite the Canadian multifamily housing market seeing a measure of success in the past few months, it is a different story in Montreal, with condo sales weakness starting in 2019 to endure for at least two years. In its recent analysis, Altus Group noted that the current market context amid the COVID-19 outbreak will have very real effects upon Montreal’s multi-family segment. For Quebec, “expect...

Statistics Canada’s New House Price Index Suggests The Housing Boom Never Happened

Canada might be underestimating how much consumer prices are rising because of how it measures housing costs. MONTREAL ― Remember when house prices soared in Toronto, Vancouver and other places a few years back, causing homeowners to celebrate and prospective buyers to despair? Seems like a hard thing to miss if you’ve been in Canada in recent years, but somehow, the great housing boom...

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