5 Things to Know Today Your morning briefing on what's moving Canadian wallets and markets — Thursday, June 5, 2026. 1 / Benefits Your Grocery Benefit Cheque Lands Today Today is the day millions of Canadians have been watching their bank accounts for. The federal government is issuing a one-time Canada Groceries and Essentials Benefit (CGEB) top-up to more than 12 million eligible Canadians starting June 5, 2026. The payment equals roughly 50% of your annual GST/HST credit entitlement — so if you normally receive that credit, expect to see a notably larger-than-usual deposit. The numbers: a family of four could receive up to $1,890 in 2026 (including the top-up), while a single person could receive up to $950 . Your bank statement may still label the deposit as "GST/HST Credit" or "GST/HST RC150" — that's normal. The full rebrand to CGEB takes effect July 3, 2026, when the regular quarterly payments resume at a permanent 25% increase for the next five...
Toronto’s Condo Crisis: A Dire Signal for Housing Affordability and Rental Market
The Greater Toronto Area (GTA) is facing a condo crisis that has significant implications for housing affordability and rental supply. According to a recent report by CIBC and Urbanation, the GTA’s condo market is “clearly in recessionary territory,” and the nationwide housing crisis is at a level not seen in over 30 years. Here are the key points:
Condo Pre-Sales at a 20-Year Low: Toronto-area condo pre-sales are below 50%, marking a more than 20-year low. High costs, high interest rates, and poor investment prospects have left the market in a challenging situation.
Investor Dilemma: Condo investors play a crucial role in rental supply and overall housing affordability. However, recent investors are mostly losing money, and prospective investors are avoiding new projects due to uncertainty.
Developers Struggle: Developers face rising construction costs due to inflation, coupled with dwindling interest in future projects. This slowdown in future supply exacerbates the crisis.
Limited Relief: Falling interest rates, projected population growth slowdown, and stabilized construction costs provide some relief. However, it’s not a magic solution, and a more comprehensive policy response is needed.
Record-High Inventory: Unsold condo inventory in the second quarter of 2024 reached a record high of 25,893 units, more than 60% higher than the 10- and 20-year averages. Sales were the lowest in 20 years outside of the initial months of the COVID-19 pandemic.
In summary, Toronto’s condo market woes underscore the urgent need for housing policy reforms and creative solutions to address affordability and rental challenges.
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