“We knew that we lost a lot of jobs in low-wage sectors. In fact, we said all the jobs lost were in low-wage sectors. However, we assumed that high-paying jobs were basically flat. And you know what, they are not flat, they are up by 300,000 positions since the beginning of year,” he said. 
“Which means that the income gap is much worse than we thought because not only are we seeing the number of jobs in low-paying sectors going down but also we’re seeing a significant increase in well-paying jobs.”
Nationally, employment in professional, scientific and technical services, a rough proxy for higher-paying jobs, was 4.8 per cent higher in December than it was in February, just before the pandemic hit, according to data from Statistics Canada. In contrast, employment for Canadian youth aged 15 to 24 remains 10.5 per cent below pre-pandemic levels.



https://www.bnnbloomberg.ca/cibc-s-tal-sounds-alarm-on-widening-income-gap-sees-potential-tax-increase-1.1550344.amp.html

Government of Canada addresses CERB repayments for self-employed individuals and announces interest relief on 2020 income tax debt due to COVID-19 related income support

https://www.canada.ca/en/revenue-agency/news/2021/02/government-of-canada-announces-targeted-interest-relief-on-2020-income-tax-debt-for-low--and-middle-income-canadians.html

"I don’t see a collapse in the housing market. Prices are high and unfortunately, they will remain high even after COVID," Tal said in a television interview. "That’s the reality of the situation in the Canadian housing market until we fix the supply issue that is really impacting valuation in big cities."

https://www.bnnbloomberg.ca/miscounted-population-part-of-the-puzzle-for-high-housing-demand-cibc-s-tal-1.1557390.amp.html

Toronto city council votes in favour of plan to transform Yonge Street in downtown core - Toronto | Globalnews.ca
http://globalnews.ca/news/7618325/toronto-yonge-street-transformation-plan/

Montreal, Quebec City home sales hit record highs in January

https://www.bnnbloomberg.ca/montreal-quebec-city-home-sales-hit-record-highs-in-january-qpareb-1.1557968.amp.html?__twitter_impression=true&s=09

Toronto's vacancy rate has soared to a 50-year high — and rents are plunging

https://financialpost.com/executive/executive-summary/posthaste-torontos-vacancy-rate-has-soared-to-a-50-year-high-and-rents-are-plunging/wcm/e921ff2a-9004-49d6-9025-ad9ca1d30cc0/amp/

Canada Mortgage and Housing Corp. says the annual pace of housing starts rose 23.1 per cent in January, as single-family home starts reached their highest level since February 2008 in Montreal.

https://www.theglobeandmail.com/business/article-housing-starts-surge-231-per-cent-in-january-2/

The Globe and Mail: Today's freakishly low mortgage rates can't last. What will pandemic home buyers do when they rise?.
https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-todays-freakishly-low-mortgage-rates-cant-last-what-will-pandemic-home/

Canada’s housing market showing ‘early signs’ of overheating, Bank of Canada warns - National | Globalnews.ca
https://globalnews.ca/news/7659541/bank-of-canada-housing-market/amp/

Toronto House Market Prices And Sales Statistics January 2021 - Canada House Market
January 2021 home sales amounted to 6,928 – up by more than 50 per cent
compared to January 2020. This strong start to 2021 included sales growth across all major segments including condominium apartments, both in the City of Toronto and surrounding GTA regions.
New listings were also up on a year-over-year basis in January, but not by the same annual rate as sales. This means market conditions tightened compared to January 2020, resulting in the continuation of double-digit growth in the MLS® Home Price Index and the average selling price.
The average selling price for January 2021 was up by 15.5 per cent to $967,885 year-over-year. The MLS® HPI Composite Benchmark was up by 11.9 per cent over the same period.
Price growth was driven by the low-rise market segments, while the average condo apartment price was down in Toronto. However, if we continue to see condo sales growth outstrip condo listings growth, we could start to see renewed growth in condo prices later this year.

https://canadahousemarket.com/toronto-house-market-prices-and-sales-statistics-january-2021/

55C Yorkville residents exclusive offer - Canada House Market

55C Yorkville is current under construction at Yorkville and Bloor, Toronto. You can take advantage of an exclusive offer to purchase the units with only 5% downpayment. 

https://canadahousemarket.com/55c-yorkville-residents-exclusive-offer/

Canary House condo - Canada House Market

Canary House Condos is a mixed-use residential and retail condominium development by the Kilmer Group in Toronto’s Canary District. This pre-construction project is located at 475 Front Street East close to Front Street East and Cherry Street intersection. This development will be 13-storeys high and will come with 206 residential units. This project is a great real estate property for investing or urban living.

Canary House Condos features a 13-storey residential tower attached to an 8-storey podium. The condo will consist of 206 living units featured in the following configurations:

43 one-bedroom units

79 one-bedroom + den units

38 two-bedroom units

19 two-bedroom + den units

27 three-bedroom units

VIP PRICING

1-Bed: Starting at $589,900

1-Bed + Den: Starting at $671,900

2-Bed: Starting at $775,900

2-Bed + Den: Starting at $895,900

3-Bed: Starting at $979,900

3-Bed + Den: Starting at $1,049,900

https://canadahousemarket.com/preconstruction/canary-house-condo/

Fixed mortgage rates are on the rise, mortgage brokers warn - National | Globalnews.ca
https://globalnews.ca/news/7659698/fixed-mortgage-rates-increasing-canada/amp/

The pandemic was supposed to cool #Canada’s hot #housingmarket. Instead, it’s hotter than ever... Over the past two decades, prices have nearly quadrupled, increasing at an annual rate of 6.7 per cent.
#realestatenews #realestatemarket #toronto #torontorealestate

https://www.theglobeandmail.com/opinion/editorials/article-the-pandemic-was-supposed-to-cool-canadas-hot-housing-market-instead/