Heron Gate: Testing Canada’s rights-based approach to housing

Ottawa, Canada – Margaret Alluker’s backyard is overrun by tall blades of grass. The landlord used to mow the lawn, but she says that since she was handed an eviction notice, the maintenance work has all but stopped. Alluker is among more than 100 families in Heron Gate, a neighbourhood in the Canadian capital, Ottawa,…

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Buyers Return to Toronto’s Housing Market

Toronto’s housing market showed signs of continued stabilization as sales surged amid a decline in benchmark prices. Sales rose 19 percent in July to 6,961, from 5,869 in the same period a year earlier, the Toronto Real Estate Board reported Friday. Seasonally adjusted sales climbed 6.6 percent from June, making July the strongest month this…

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Young People Don’t Want Construction Jobs. That’s a Problem for the Housing Market.

The construction business is having trouble attracting young job seekers. The share of workers in the sector who are 24 years old or younger has declined in 48 states since the last housing boom in 2005, according to an analysis of U.S. Census data by Issi Romem, chief economist at construction data firm BuildZoom. Nationally,…

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Why China Can’t Fix Its Housing Bubble

Real estate is the driver of the Chinese economy. By some estimates, it accounts (directly and indirectly) for as much as 30 percent of gross domestic product. Keeping housing prices buoyant and development robust is thus an overriding imperative for China — one that is distorting policymaking and worsening its other economic imbalances. Despite reforms…

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Toronto Sales Rebound Signals Canadian Housing Is Stabilizing

Canada’s home sales were little changed in May, suggesting the residential real estate market is stabilizing after seeing large declines earlier this year. Transactions fell 0.1 percent from April to 36,373 units, the Canadian Real Estate Association said Friday from Ottawa, keeping the level close to five-year lows. Economists surveyed by Bloomberg predicted sales would…

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Surging Prices, Rates Test Demand in U.S. Housing Market

Fear of missing out may persuade Americans with an eye on buying a home to hurry their decision before it gets more expensive. But while demand shows few signs of teetering, jumps in both property values and borrowing costs will test the market’s durability. Home sales are now hovering near expansion highs, though momentum has…

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Rising Sea Levels Reshape Miami’s Housing Market

MIAMI—Concerns over rising sea levels and floods are beginning to reshape one of the country’s largest housing markets, with properties closer to sea level now trading at discounts to those at higher elevations. Research published Friday in the journal of Environmental Research Letters shows that single-family homes in Miami-Dade County are rising in value more…

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