Since Davide Mastracci, The Maple’s opinion editor, updated our resource listing all Canadian MPs who are landlords or invested in real estate in some way, we’ve published several articles analyzing and responding to the information.
As we made clear in our very first article examining this data, there are vast differences in the extent to which some of the MPs who met the criteria to be included in the resource are involved in real estate. Some have spouses who own vacant lots of farm land, while others personally own long lists of rental properties and other investment interests.
Of course, it is tricky to quantify and compare exactly how much each MP is invested in real estate. This is partly because the disclosure reports on which the resource is based are inconsistent in terms of the specificity of the information provided. As well, the exact value and size of each rental property and real estate investment is not disclosed in the public reports.
However, there are clearly some MPs with much larger real estate investment portfolios than others, meaning they have a direct material interest in rents and property values continuing to rise, amid a nationwide housing crisis, that is materially larger than other MPs whose names appear in the resource.
To identify MPs with particularly large interests in the real estate market, we counted the total number of real estate assets or interests that each MP disclosed, and from those with the largest portfolios, we narrowed down to a handful of MPs who appeared to have particularly extensive and wide-ranging interests in the real estate market. This, of course, involved a degree of subjective analysis.
Therefore, it is important to stress that the MPs listed below are not ranked in any particular order. It is also worth noting that none of the MPs listed below responded to Davide’s recent request for comment about their disclosures.
With those caveats out of the way, here is a selection of 10 Canadian MPs with particularly large interests in the real estate market. The disclosure for each MP is copied from the resource, with additional notes added in some cases.
Marty Morantz
Notes: Morantz is the Conservative MP for Charleswood—St. James—Assiniboia—Headingley. His real estate disclosure report is far and away the longest among all Canadian MPs.
“Joint ownership with an individual of a residential rental property located on Wellington Crescent in Winnipeg, Manitoba”
“Joint ownership with multiple persons and corporations of two commercial rental properties located on Academy Road in Winnipeg, Manitoba”
“Joint ownership with multiple individuals and corporations of multi-unit residential rental properties in Edmonton, Alberta located on: – 144 B Avenue North West – 121 Street North West”
“Joint ownership with multiple individuals and corporations of multi-unit residential rental properties in Winnipeg, Manitoba located on: – Mayfair Avenue – Guelph Street – Setter Street – St. Michael Road – Ronald Street (2 properties) – Munroe Avenue (3 properties) – Beliveau Road (3 properties) – Pembina Highway (4 properties)”
“Artis Real Estate Investment Trust Units”
“Last and next 12 months: rental income”
“Jernat holdings Ltd., a company in which I own a controlling interest, is a co-owner of a property located in Winnipeg that leases commercial space to Public Works and Government Services Canada”
“Controlling interest in Jernat Holdings Ltd., a real estate holding and rental company in Winnipeg, Manitoba”
“Controlling interest in Jernat Investments Ltd., a real estate commission financing company in Winnipeg, Manitoba”
“Significant interest in Levmor Mortgage Corporation, a mortgage company in Winnipeg, Manitoba”
“Limited partnership units in LS Properties (Kildonan Crossing in Winnipeg, Manitoba)”
“President and Director of: – Jernat Holdings Ltd. – Jernat Investments Ltd. – Levmor Mortgage Corp.”
Notes: It’s worth highlighting that Liberal MP Noormohamed’s disclosure doesn’t actually specify the number of rental properties he owns in Vancouver, the most expensive real estate market in the country. We do know that in the run-up to the last federal election, he came under fire after it was revealed that he sold at least 21 properties within a year of buying them since 2005. He bought and sold an additional 30 after less than two years of ownership during the same period. This practice, known as “house flipping,” is a contributing factor to the housing crisis. It also made Noormohamed $4.9 million in profit, according to NEWS 1130.
“Nominal interest in Immeubles Q-Mont (II) Industrial Properties L.P., a real estate business”
“Sole ownership of rental properties located Vancouver, British Columbia”
“Last 12 months: Rental income from rental properties”
“Next 12 months: Rental income from rental properties”
“Significant interest in 1310672 BC Ltd., a real estate holding company, which owns one property in Vancouver, British Columbia”
“Sole ownership of duplex rental property located on Manor Street, Burnaby, British Columbia”
“Sole ownership of four rental units located on Rosewood Street, Burnaby, British Columbia”
“Sole ownership of a rental property located on 40th Avenue, Surrey, British Columbia”
“Last and next 12 months: Rental income from properties”
“Controlling interest in Grand Fairway Development Inc. that holds a nominal interest in 1041672 B.C. Ltd, a real estate holding and rental company in Surrey, British Columbia”
“Controlling interest in 687495 B.C. Ltd., a real estate holding and rental company in Surrey, British Columbia”
“Co-signer on behalf of Dhaliwal & Associates Land Surveying Inc., with another individual, of a mortgage with the Canadian Western Bank for two investment properties”
“Sole ownership of Dhaliwal & Associates Land Surveying Inc., which is joint owner with another company of two investment properties”
“Sole ownership of Genco Engineering Consultants Inc., which is the sole owner of 0711677 B.C. Ltd., a real estate holding company that has: – a nominal interest in 0711634 B.C. Ltd., a real estate joint venture company; – a nominal interest in 0996756 B.C. Ltd., a real estate holding company; – a nominal interest in 0636535 B.C. Ltd., a real estate holding company .”
“Sole ownership of 596426 B.C. Ltd., a real estate holding company that: – is the sole owner of 619525 B.C. Ltd., a real estate holding company, which together have a significant interest in 686967 B.C. Ltd., a real estate holding company; – has a nominal interest in Sproutly Canada Inc.” (spouse/common law)
“Nominal interest in Westland Developments Ltd., a construction company that owns an investment property” (spouse/common law)
“President, Secretary, and Director of 619525 B.C. Ltd., a real estate holding company” (spouse/common law)
“President and Director of 596426 B.C. Ltd., a real estate holding company” (spouse/common law)
“Secretary and Director of 686967 B.C. Ltd., a real estate holding company” (spouse/common law)
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
