The Springbank Off-Stream Reservoir (SR1) project is moving ahead after receiving federal approval, which is welcome news for the many Calgarians who have been advocating for upstream flood mitigation measures since the 2013 disaster.

Housing affordability was centre stage when the federal government announced the new First-Time Home Buyer Incentive program as part of their 2019 budget, and it promises to be a big campaign issue this fall.

CREA voices concerns about home cannabis cultivation

As Bill C-45 continues its journey through the different levels of Parliament, the Canadian Real Estate Association (CREA) presented some feedback on how the legalization of cannabis would affect homeowners.
"We've heard from homeowners and tenants across the country who are worried about living beside grow-ops," said CREA president Barb Sukkau.

"What does this do to their home value? Will this increase their rent? How safe will their kids be? Will their quality of life diminish because of the prevalence of drugs in their neighbourhood? These are all concerns that need to be considered before the passing of Bill C-45."

Valuable information for prospective homebuyers

Canada's new mortgage qualification rules and how they could affect you

On Jan. 1, 2018, new mortgage rules came into effect. Under the new rules, Canadian mortgages are subject to stricter qualifying criteria. Ultimately, this means some buyers will have to settle for less expensive homes than they could have qualified for prior to the rule change – up to 20 per cent cheaper in some cases.

All homebuyers must now go through the mortgage stress test:

The complicated relationship between millennials and the housing market

When Juliet Burgess, 29, bought her 110-year-old home in Inglewood for the above-list price of $350,000, she says she became the first among her circle of millennial friends to become a homeowner.

"I personally don't know anyone in my age group who owns property," said Burgess, who works in the not-for-profit sector. "We're super lucky to be able to afford to buy.

"I've been saving my whole life, since I was 14. Even with that, my partner's savings and our parents giving us a little bit, we could only put down the minimum for a down payment."

Experts say new mortgage rules might take some buyers out of the game

Getting into your "ideal" home might be more difficult following the introduction of new federal regulations pertaining to insured mortgages.

Under new regulations introduced this week, all mortgages must be "stress-tested" at the posted rate instead of negotiated rates that have recently been around 2.5 per cent.

Previously, only mortgages with a term less than five years, as well as any variable-rate mortgages, had to qualify at the benchmark rate.

Provincial-Federal funding to support senior housing in rural communities

A joint federal-provincial initiative will provide $160 million over four years to support renovations or replacements of seniors' lodge properties outside of Alberta's major centres.

"Nearly 70 per cent of all seniors' lodge units are in communities outside of Alberta's major centres," said Seniors Minister Jeff Johnson. "Multi-year investments like this are critical to ensuring aging properties are appropriately maintained or replaced."

The province announced it will work with housing management bodies to complete a full evaluation of seniors' lodges to determine priority projects.