Articles tagged with "Forecast"

Montreal must significantly increase its housing construction efforts to restore pre-pandemic housing affordability levels, according to the Canada Mortgage and Housing Corporation (CMHC). The report suggests that to achieve affordable housing, the city will need to triple its current rate of construction. The housing market is currently constrained, affecting overall accessibility for residents. The city's current strategies may fall short if these targets aren't met.

Montreal is facing a severe housing crisis, exacerbated by the pandemic more than any other major Canadian city. To address the situation, it is necessary to build approximately 50,000 new homes annually. This implies that Montreal will need to double its current housing production rate to meet demand and alleviate the crisis.

Trois-Rivières has experienced significant growth in new housing units over recent years, increasing from 1,327 in 2023 to 1,539 in 2024. The Canadian Mortgage and Housing Corporation (CMHC) reports that residential construction starts have had an even busier start to the year compared to last year. The trend indicates strong activity in the residential construction sector.

Montréal-Trudeau Airport will undergo major construction to reconfigure its road access and drop-off areas, starting this summer and continuing until 2035. This work is expected to increase traffic congestion around the airport, particularly at peak times. With 6.8 million travelers expected from June to August, Aéroports de Montréal recommends strategies such as using peripheral express drop-offs and arriving early. The airport plans to remain operational throughout the construction process.

The Montreal-based company Boralex has announced its strategic plan for 2030, aiming to invest eight billion by then. The company will host an investor day in Toronto, where they will outline their roadmap. This highlights Boralex's commitment to renewable energy and sustainable development. The investment is poised to enhance the company's footprint in the energy sector.

EcoPro has decided to temporarily halt the construction of its $1.2 billion electric vehicle battery-materials plant in Bécancour, Quebec. The decision is due to increased tariffs in the United States and slower-than-anticipated sales in the electric vehicle market. The company has not provided a timeline for when the construction might resume.

According to the Institute for Socioeconomic Research and Information (IRIS), governments are misguided in believing that merely increasing the housing supply will resolve the housing crisis. The organization suggests that focusing only on expanding housing stock may not effectively address the underlying issues. There are likely more complex factors in play that require multifaceted strategies.

The city of Montreal has adopted an Urban Plan aiming to build nearly 200,000 housing units by 2050. This plan emphasizes densification as a core strategy to achieve this goal. The focus on increasing residential structures aims to address the city's housing needs over the coming decades.

President Trump's increase in U.S. tariffs on steel and aluminum has doubled to 50%, pressuring Quebec manufacturers who are relocating operations to the U.S. to remain competitive. The uncertainty of tariffs is forcing companies to act, and local entities are pushing the government for protective measures. The Quebec Federation of Chambers of Commerce voices concern over rising industrial energy costs, further complicating the business climate. Canada has not yet retaliated, although there are calls for action against steel dumping.

The Parti Québécois warns that Bill 69, a proposed energy law, could cost Quebec consumers a billion dollars by allowing Hydro-Québec to pass on more costs to customers. The bill would enable tariff increases, and costs from agreements with Indigenous communities and municipal redistributors, to be transferred to consumers. Minister Christine Fréchette argues that the bill is necessary to cap residential tariff increases at 3% and enable wind power initiatives, expected to bring significant savings and create jobs. This bill, yet to be fully studied, aims to increase Hydro-Québec's electricity production by 30% by 2035.

Geneviève Guilbault has stated that the future of the Third Link project is uncertain and at a critical decision point. If the Coalition Avenir Québec (CAQ) does not realize the project, its chances of seeing the light of day are slim. An announcement is expected by the end of June, which will clarify the direction of the project. The project's continuation heavily depends on CAQ's support and commitment.

The residential construction sector is facing pressure due to a strike that could delay the delivery of houses and condos. This situation might not only postpone completion dates but also increase the final cost of these residential properties. Buyers are becoming increasingly concerned about potential financial impacts. The strike emphasizes the challenges in managing project timelines and budgets in the residential market.