Why is housing supply so low_construction

There is no other way to sugar-coat what is happening in Canada’s housing market: The nation is facing a severe supply shortage. Why is housing supply so low?

Current market conditions, be it record-low inventories or strengthening demand, have sparked a housing affordability crisis. With interest rates on the rise and an inevitable increase in the mortgage stress test, buying a home within typical Canadian incomes and budgets will become more difficult this year, and potential into the foreseeable future.

But while factors such as historically low-interest rates and pandemic-era pent-up savings have contributed to the current housing frenzy, the fundamental principle of supply and demand has been the chief component in…

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The population data from the census 2021 is now available and it offers us a wealth of information about where Canadians live, where they’re moving to and what communities are growing in size as a result. 

The latest census arrives at a critical time in Canada’s real estate history, when governments of all levels are weighing their options to boost supply and improve housing affordability. Over the past two years, the COVID-19 pandemic has also played a critical role in influencing the migration of Canadians, including those new to the country. 

“This type of information is critical in helping to answer many of the important questions being asked in Canada’s national housing conversation,” said Shaun Cathcart, Senior Economist and Director of…

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On the surface, tiny homes offer a practical solution to a rising problem among many who want to own a home but can’t get their foot in the door: rising prices. According to the Canadian Real Estate Association, the average Canadian house price has surpassed the $800,000 mark; however, a tiny home can be purchased or built for less than $200,000. People who live in tiny homes are committed to living minimally, which helps reduce costs and their carbon footprint. A tiny home may not be for everyone, so here are the basics of living in 400 square feet or less:

What Are Tiny Homes?

According to a 2017 report by Statista Research Department, the average size of a Canadian home is 1,792 square feet, ranking third after the United States and Australia…

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Did you know your next DIY project could (and should!) help recycle waste material? The wood pallet is a versatile building block that can be turned into many useful indoor and outdoor items. To get you started with your first or next DIY wood pallet project, Jeff Richard, a recently retired homeowner who’s been building home projects for more than 30 years,  and Shaun Crawford, an avid DIYer, graciously offered up their pallet wisdom. 

Image via Brent Keane on Pexels.

Finding wood pallets

The first step to any DIY wood pallet project is the pallet itself. Richard finds most of his in the outdoor lumber area of hardware stores. 

“It’s usually very clear which pallets you can and can’t take,” says Richard. “Pallets that aren’t for removal are…

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cost to build a house

  • The cost of building a house in Canada
  • Getting a loan for building a house
  • Average time to build a house
  • Ways of reducing costs when building a house
  • Alternatives to custom-built homes

If you’ve wondered about the average cost to build a house in Canada, you’re not alone, with current market conditions from coast to coast characterized by a severe housing inventory shortage. Quite simply, it could be easier to purchase bare land or a tear-down home and build something brand new. But aside from stock, there are many other advantages to building your home from scratch. You have the opportunity to customize the space to fit your lifestyle. Room by room, you have the final say on the layout, features, and…

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Adding a swimming pool to your home

The pandemic prompted a renewed focus on relaxation and recreation at home, making luxuries such as a large backyard, nice deck and a swimming pool highly sought-after on the real estate market. These outdoor features turn your home into a summer oasis during the warmer months. While there’s nothing wrong with wanting to make additions to your home, it is essential to consider the pros and cons of adding an expensive luxury item, like a pool. Below, we will go over the ups and downs of adding a swimming pool to your home and how it may affect the property’s resale value.

Key Factors to Consider When Adding a Swimming Pool to Your Home

Adding a swimming pool to your home indeed has its benefits. However, these benefits are…

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NEWFOUNDLAND is know for it's rugged shores, hearty stories and unique personalities. There is so much to offer, including local parks that are the pride of their communities. Here are some of the more popular parks in St. John's - Metro area that you can add to your things to do list when you visit.

Bannerman Park

Bannerman Park - Military Road, St. John's

One of the largest parks in metro, Bannerman Park is for people of all ages and ability. It offers tournaments and festivals, a winter ice skating loop, playground for the kids, and a swimming pool. Local residents flock to Bannerman Park during summer months, and generally year round to take advantage of all it has to offer.  The Newfoundland and Labrador Folk Festival takes place each summer…

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Whether you’re a first-time home buyer or moving into your fifth house, one thing’s for sure: moving can be an exhausting endeavour. Excitement for your new life ahead can quickly give way to stress and exasperation as your to-do list forever grows. If there’s one thing you can do to prepare for your move and ease your transition, it’s to prepare a box of moving essentials. 

Also known as open-first boxes, these essentials boxes contain  all the crucial items you’re going to need immediately after crossing the threshold of your brand new home. It’s the first thing to be opened and is the key to an easy and successful move.

PRO TIP: Label your essentials box clearly and keep it away from your other moving boxes so it doesn’t accidentally make…

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Tips for Single Home Buyers

Buying a home is one of the most exciting times of your life, however, it can be extremely daunting for individuals looking to make the biggest purchase of your life. Buying a home as a single person can be intimidating, but we have some smart tips for single home buyers that will make the process much smoother.

With home prices across Canada rising at a fever pitch, entering the housing market as a solo act can carry more stress from a financial perspective than if you were going in with another person. However, each scenario has distinct advantages. For example, as a single you don’t have to consider another person’s needs and wants when it comes to finding your dream home. This means less compromising. If you work…

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Winter may not feel like it’s ever going to end, but the incrementally longer and warmer days mean spring is indeed on its way. Make sure your home is ready for the busy housing market ahead with these seven spring repairs.

Roof Repairs

Ice dams and falling snow sheets can cause damage to a roof over a long, cold winter; gutters warp, soffits crack, and roof tiles shift. These can spell disaster once the snow begins to melt, especially if there is water backing up inside the house.

The goal is to do everything you can to help your home pass its professional inspection. So, shelling out now to make sure the roof is doing its job should be on your list of spring repairs.

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