Canada, Ontario face hard choice as Toronto home bubble builds
The Ontario government will take steps within a week to try to rein in the cost of buying and renting a home in the Greater Toronto Area, senior officials tell CBC News.
The Greater Toronto Area may be the focus of federal Finance Minister Bill Morneau's meeting with his provincial counterpart and Mayor John Tory on Tuesday, but a city more than 4,000 kilometres away could be top of mind, according to a leading financial expert.
Tory said the three also discussed the possibility of a tax on vacant homes in order to discourage speculators form holding on to empty units.
Resales of Canadian homes rose 1.1 percent in March from February and prices were up 18.6 percent from a year earlier as strong demand in Toronto offset cooling elsewhere, a report from the Canadian Real Estate Association showed on Tuesday.
"In the coming week, the Ontario government will announce a suite of measures created to increase supply and address demand", Sousa told a news conference in a tree-lined Toronto neighbourhood.
Sousa said Ontario policy makers will unveil a "suite of measures" in coming days in an effort to boost housing supply and address price gains in Toronto and the broader region.
"We're concerned that the price increases, in particular in the GTA, are putting the dream of owning a home out of reach of middle-class families", he said.
Defensive numbers prove Oilers were outworked by Sharks in Game 1
Kassian drove the net effectively and delivered bone-jarring hits on Brenden Dillon and Logan Couture at Rogers Place. In the third period, Caggiula had broken a stick on a breakaway that could have given the Oilers a late lead.
EPA's Scott Pruitt: Try To Reduce Emissions? No Way
That's a tack advanced in a letter to Trump, previously reported on by E&E News, by North Dakota Republican Rep. Ivanka Trump reportedly favors the country meeting its Paris climate agreement obligations.
Sens. Hatch, Lee respond to Gorsuch confirmation following 'nuclear option'
First Democrats mounted a filibuster in an effort to block Gorsuch by denying him the 60 votes needed to advance to a final vote. Some lawmakers have expressed concern by how the fallout of Scalia's death has impacted both the Senate and the Supreme Court.
"Ontarians can't afford to wait, we need to act now", Sousa said, adding, "Stay tuned".
Sousa has signalled new housing affordability measures may be part of his government's upcoming budget, taking aim at what he called "property scalpers" in public comments last week.
"The challenge for Toronto is whether these people think a foreign buyers tax in isolation is a good idea or not". We know these individuals are concerned by the housing market.
"What we are trying to do today is to work collaboratively to make sure we are getting at measures that can actually deal with that potentially speculative behavior", Morneau said.
The two finance ministers and Toronto Mayor John Tory will meet on Tuesday to discuss house affordability in the region.
While ongoing collaboration with the federal government and City of Toronto is key to improving housing affordability for renters and those looking to purchase a home over the long term, our government is also aware that a response is needed now to address recent dramatic increases in rents and home prices.
Last year, the Clark government in B.C. put in place new rules that require real estate agents to draft offers that require the seller's consent to a contract transfer, and any resulting profit to be returned to the seller.
Trump Approval Rating Sees Modest Rise After Military Strikes
A growing majority of Americans no longer trust President Donald Trump to keep his promises, a new poll by Gallup has revealed. A majority of Americans in a new poll says that corporations and upper-income individuals do not pay enough taxes.
Ronaldo's hat-trick fires Real Madrid in Champions League semis
Bayern coach Carlo Ancelotti agreed with Vidal and said in his media conference that the referees needed video help. For the fourth time in a row, Bayern Munich were knocked out of the Champions League by a Spanish side .
North Korean test missile explodes on launch
Signs had suggested that North Korea was preparing for its sixth nuclear test in a decade or for a significant missile launch. State television showed what appeared to be several KN-08 and KN-14 missiles rolled out on trucks at the parade.
Bottas beats Hamilton to take pole position at Bahrain GP
We will concentrate to find the best set-up during practice together with McLaren, as well as working on ensuring our reliability. This makes it very hard to approach the weekend".
How Prince hid his deadly painkiller drug addiction
Kornfeld sent his son, Andrew, to Minnesota that night, and the younger Kornfeld was among those who found Prince's body. Martinez said she could not comment on whether the board is investigating Schulenberg's treatment of Prince.
Arkansas fights on multiple legal fronts to begin executions
On Friday, the Arkansas Supreme Court halted Ward's execution after lawyers for the inmate argued he was mentally incompetent. He had been scheduled to die Monday night under the state's plan to put eight inmates to death before the end of the month.
Kylie Jenner hangs out with Travis Scott at Coachella bash
Travis and Jenner have been spotted together frequently since Jenner broke up with Tyga at the beginning of April. Tyga also attended Coachella over the weekend, but partied separately from Kylie and Scott.
NCAA Tournament: Who Will Survive and Advance in the Final Four?
The Bulldogs maintained a slim lead from there and led 75-72 with 12.7 seconds left as the Gamecocks set up a final play. VanDerveer added, "I'd also like to congratulate our team on a great season". "His work ethic is awesome".
Wenger says Arsenal faces 'massive' challenge to reach top 4
Arsenal have conceded 39 goals this season, which is already more than they conceded in three of their last four seasons. So you can combine the best combination of playing at the top and [earning] big money, in England at the moment.
Tillerson, Lavrov open tense meeting; Putin repeats assertion on chemical weapons
Russian Federation has blocked a draft resolution at the United Nations condemning last week's toxic gas attack in Syria. Tillerson also held what he called a "productive" two-hour long meeting with Russian Foreign Minister Sergey Lavrov.
Apr 18 2017