Ontario halts most construction for 14 days
Following the lead of Quebec—and perhaps a harbinger for other provinces—the Ontario government has temporarily shut down most residential construction amid efforts to contain COVID-19.
Renovators work around virus
While self-isolation and economic woes threaten Canada’s $50 billion home renovation industry, some
1.99% mortgage as BoC slashes rate
HSBC began offering a 1.99 per cent three-year term mortgage as of March 27 after the Bank of Canada (BoC) slashed its benchmark interest rate to 0.25 per cent amid the COVID-19 pandemic.
Virus may cause “paralysis” in housing market
While some mortgage brokers and real estate agents say the effects of the COVID-19 pandemic could spur housing sales due to lower interest rates, the B.C. Real Estate Association (BCREA) warns there will be a sharp downturn at least during the first half of 2020.
Renovation spending was tracking up
Renovation spending in Canada was tracking upwards, according to Altus Group, but most contractors say a slowdown is expected in the first half of this year. The reason, of course, is the COVID-19 pandemic which is keeping many Canadian households in isolation.
COVID-19 slump exposes contractor liability
Residential and commercial construction will slow in the face of the COVID-19 crisis and the Council of Ontario Construction Association (COCA) warns this could leave builders on the hook.
Home shows cancelled, meetings postponed
Canada’s largest home show, the Toronto Home Show, has been cancelled.The largest home show in North America, in Chicago, had earlier been called off. Both cancellations were due to fears of the new coronavirus.
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CURRENT ISSUE
Drones Top Roofing Tool
Flying eyes can improve safety and give birds-eye view for repairs.
Attack on Demand
Governments are gutting Canada’s housing market by stifling demand and stalling supply.
Market Report: Quebec Steps Up
La belle province has its housing groove back.
Renovator profile:
Design, build and keep the
HAMMERDOWN
Despite government disruptions home builders delivered 200,000 new homes and more than one million jobs in 2017.
TOOL TALK: Renovation
is Outpacing
New Construction
One characteristic of renovation is that contractors are more a jack of all
trades, using a wider variety of tools than new construction workers and
often dabbling in fields that are not their speciality.
COMMON CENTS CONSTRUCTION:
Future-Proofing the Home Building Industry.
ECONOMICS REPORT:
Don’t Stress the Stress Tests: Housing Starts to Remain Stable in “Lukewarm” Market.
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