Real estate signage showing a home that has sold is seen on May 15.Christinne Muschi/The Canadian Press
Greater goods
Re “In competition” (Letters, July 6): A letter-writer suggests that competition policy in Canada is modern and fit for an economy one-tenth the size of the United States. Yet we are paying significantly higher air fares, telecom rates and food prices (aided by supply management) than our American neighbours.
This is a result of fewer firms competing in these sectors. If this reflects a modern economy, then I think something’s clearly wrong with the analysis.
Economic efficiency should result in lower prices for consumers. It’s not only about lower costs for producers.
I can think of three reasons for the decline in Canadian productivity.
First, a large number of new permanent residents, students and temporary workers tends to decrease output per person.
Second, we Canadians are generally reluctant to pay the price for economic growth. Whether one is trying to build wind farms, pipelines, housing, mines or just about anything else, there are always people who object for a variety of reasons. This attitude manifests itself in the many barriers we put up to development.
Third, there are precious few sizable Canadian companies capable of significant capital investments or the commercialization of research and development. Outside of a few protected industries, most large firms are foreign-owned.
Promising young Canadian companies with valuable intellectual property are usually purchased by foreigners. Without sizable companies of our own capable of growing productivity, we can hardly expect foreign owners to do the job for us.
Jim PaulinOttawa
Labour and capital should be considered substitutes for each other. Why invest in more capital if there is a never-ending supply of labour that puts downward pressure on wages?
In contrast, if there is a shortage of labour, employers would have no choice but to invest more in capital and innovation, thereby increasing productivity and GDP per capita, and making us all better off.
Rob OgrodnickToronto
As a student of international and comparative labour issues, the cause of Canada’s productivity problems seems straightforward enough to me.
Since the early 1980s, organized labour in Canada has been flailing as a result of economic policy, and the failure of governments to follow up on the Supreme Court’s constitutionalization of freedom of association and the rights to unionize and bargain collectively. Over the past four decades, labour has been unable to effectively protect many of the gains it made following the Second World War.
Pension plans and job security withered, and labour’s share of national income shrunk. Most of what was lost went to corporations and their shareholders. The result is that corporations are under little pressure to produce more effectively.
Why bother to invest in innovation when the bucks are rolling in without incurring that expense?
Roy Adams Professor emeritus, human resources and industrial relations, McMaster UniversityHamilton
There are also bankers who opted to funnel cheap borrowed money into real estate when prices soared across the country. Why pour money into new machinery, robotics and artificial intelligence during a period of ultra-low interest rates, when the return on investment in housing was so lucrative and relatively risk-free?
It is this inefficient allocation of capital that I find at the heart of the productivity problem in Canada.
Alec LalondeOttawa
Is anyone home?
Re “Unable to downsize, more seniors are living in larger homes with empty bedrooms” (Report on Business, July 5): The key word is “living.” Instead of pointing the finger at boomers who have the audacity, tenacity and perspicacity to live in and maintain their homes, why not address the issue of vacant homes as a convenient method of sheltering money?
Underoccupied homes? I find far worse are unoccupied, undermaintained homes that languish in living neighbourhoods.
Sandy BlazierMississauga
I think more can be done to encourage boomers in single-family inner-city homes to relocate, so that rezoning can take place to build multifamily residences.
Perhaps units can be saved for people who give up their homes, so that they can downsize and stay in the same neighbourhood.
Alison DennisCalgary
These are our homes. This is where we worked our lives to live.
The housing crisis is not ours. Any suggestion of vacating to accommodate government decisions on immigration would be simply wrong.
We will leave when we’re ready, and not a second before.
Dianne AzizKingston
Are we really at the stage where people with a spare bedroom are labelled “overhoused,” as Mississauga Mayor Crombie says, and bean counters at Canada Mortgage and Housing Corporation are concerned with what to do about it?
I am reminded of the old Genesis song Get ‘Em Out By Friday, where Peter Gabriel fictionalized that “Genetic Control” was announcing it had made people shorter in height, so it could fit twice as many of us in the same building size.
Let people live as they want and show that we still respect a free society.
Rob KondurosCambridge, Ont.
Many seniors, including this letter-writer, are unwilling to downsize, not unable.
Selling and relocating can be expensive owing to legal, moving and real estate fees. A new home leaves one open to unexpected repairs, while a present residence should have no such surprises. Rental accommodations have all the challenges of landlord-tenant relationships.
All in all, it’s a lot of fussing for little if any improvement in lifestyle. Besides, having a guestroom is nice although, sadly, it is not much used.
After raising a family, having a successful retail business, buying a house and saving money, he was ready to move on and did. It can be done, even at 50!
Linda Martin Toronto
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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.
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