Tag: supply chain

Canada’s home renovation boom under pressure amid soaring costs, rising rates

Hillary and Andrew Strack-Cheng with their kids Leland and Juniper in their home on June 22.Cole Burston/The Globe and Mail

Home renovations can be unpredictable and anxiety-laden at the best of times. But soaring costs, rising interest rates, cooling home prices and uncertainty about Canada’s economic outlook are increasing the financial risks associated with a major property uplift, some real estate experts warn.

Homeowners with large mortgage balances should “be careful with renovations right now,” said Nasma Ali, broker and founder of One Group Toronto Real Estate.

On top of sky-high materials and labour expenses driven by supply chain snarls and worker shortages, another squeeze on some home renovators’ budgets is coming from rising borrowing costs. Home equity lines of credit (HELOCs), which homeowners often rely upon to finance major improvements, generally come with variable interest rates, which have been climbing as the Bank of Canada has raised

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Supply Chain Issues Impacting Home Furnishing, Staging

You’ve navigated the endless challenges of the pandemic, from rising prices to self-guided tours of models, and signed on the dotted line to ensure that perfect next home is yours. Problem is, now you have to furnish the place. It turns out the normally-hassle-free process of finding sofas, tables, chairs and beds is equally problem-plagued by issues associated with Covid and the aftermath of the health crisis.

Companies working to ensure homes are nicely furnished know these hurdles all too well. Here’s how they’re steering through the perilous winds of a supply chain tsunami.

“The constraint on furniture supply chains isn’t just inconveniencing consumers, it’s asking them to put their lives on

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