October 2013 Ontario Economic Fundamentals
- Thread starter Ally
- Start date
- Joined
- Mar 24, 2009
- Messages
- 16,743
Hamilton's illegal apartment strategy demands urgency
Faced with tough opposition from landlords and affordable housing advocates, Hamilton city councillors this week backed away from a plan to begin licensing rental housing units with six units or less. It was the right thing to do under the circumstances, but it is not a perfect solution.
Read the full article here.
Faced with tough opposition from landlords and affordable housing advocates, Hamilton city councillors this week backed away from a plan to begin licensing rental housing units with six units or less. It was the right thing to do under the circumstances, but it is not a perfect solution.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Toronto subway extension to get $660 million from Ottawa
The federal government will contribute $660 million to help extend Toronto`s Bloor-Danforth subway line in the east-end neighbourhood of Scarborough, federal Finance Minister Jim Flaherty announced Monday morning.
`You have our money, let`s get this subway built,` Flaherty said.
Read the full article here.
The federal government will contribute $660 million to help extend Toronto`s Bloor-Danforth subway line in the east-end neighbourhood of Scarborough, federal Finance Minister Jim Flaherty announced Monday morning.
`You have our money, let`s get this subway built,` Flaherty said.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Google's Motorola establishing a new office in Kitchener-Waterloo
Just a few days after BlackBerry Ltd. said that thousands of its staff will lose their jobs in the coming weeks, one of the embattled smartphone maker`s top competitors announced plans to set up a new office in the Waterloo, Ont.-based company`s backyard.
On Wednesday, the Google Inc.-owned Motorola Mobility revealed it would be establishing a new engineering hub in the Kitchener-Waterloo area, with the goal of tapping into the deep talent pool located in an around Canada`s premiere technology centre.
Read the full article here.
Just a few days after BlackBerry Ltd. said that thousands of its staff will lose their jobs in the coming weeks, one of the embattled smartphone maker`s top competitors announced plans to set up a new office in the Waterloo, Ont.-based company`s backyard.
On Wednesday, the Google Inc.-owned Motorola Mobility revealed it would be establishing a new engineering hub in the Kitchener-Waterloo area, with the goal of tapping into the deep talent pool located in an around Canada`s premiere technology centre.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Ontario's youth unemployment among worst in Canada
Young people in Ontario ` especially Toronto ` are among the least employed in the country, according to a new report that shows the province`s unemployment rate is higher than the national average.
The report, released Friday by the Canadian Centre for Policy Alternatives, shows that for those under 24 years of age, joblessness is more common in Ontario than anywhere in Canada, aside from Atlantic Canada.
Read the full article here.
Young people in Ontario ` especially Toronto ` are among the least employed in the country, according to a new report that shows the province`s unemployment rate is higher than the national average.
The report, released Friday by the Canadian Centre for Policy Alternatives, shows that for those under 24 years of age, joblessness is more common in Ontario than anywhere in Canada, aside from Atlantic Canada.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Hamilton says no to rental licensing...for now
Attention investors and REALTORSÂ: illegal rental units are still "ILLEGAL in the City of Hamilton. Yes, mainstream media reported that Hamilton City Council approved the Planning Committees' recommendation to shelve an initiative to license one to six family rental units.
Read the full article here.
Attention investors and REALTORSÂ: illegal rental units are still "ILLEGAL in the City of Hamilton. Yes, mainstream media reported that Hamilton City Council approved the Planning Committees' recommendation to shelve an initiative to license one to six family rental units.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Myriad of opportunities bundled in Toronto condos
The growth of the real estate market of Toronto is evidence to atypical growth story of the Canadian real estate segment. Not only is the market experiencing stupendous growth through downtown condos for sale, but is also gearing up for future opportunities from the pre-construction condo market. Undoubtedly, downtown condos for salehttp://http://www.zimbio.com/go/JqT...wntowncondos.com/toronto_downtown_condos.html have emerged as the most suitable option for people looking for lucrative investments in the real estate segment. Moreover, the investors are also enjoying a profitable return on investment. In addition, the construction of new condos also adds an icing to the cake.
Read the full articles here.
The growth of the real estate market of Toronto is evidence to atypical growth story of the Canadian real estate segment. Not only is the market experiencing stupendous growth through downtown condos for sale, but is also gearing up for future opportunities from the pre-construction condo market. Undoubtedly, downtown condos for salehttp://http://www.zimbio.com/go/JqT...wntowncondos.com/toronto_downtown_condos.html have emerged as the most suitable option for people looking for lucrative investments in the real estate segment. Moreover, the investors are also enjoying a profitable return on investment. In addition, the construction of new condos also adds an icing to the cake.
Read the full articles here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Toronto is Canada's hottest job market - for better or worse
A company called Career Builder yesterday released a list of what it called the ten hottest jobs in Toronto, based on data about the occupations with the fastest increases in employment between 2010 and 2013.
That made me wonder: how does Toronto compare to the rest of the country in overall job growth? And where are the engines of job growth?
Read the full article here.
A company called Career Builder yesterday released a list of what it called the ten hottest jobs in Toronto, based on data about the occupations with the fastest increases in employment between 2010 and 2013.
That made me wonder: how does Toronto compare to the rest of the country in overall job growth? And where are the engines of job growth?
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Toronto facing 'silver tsunami' as population ages
Toronto`s shifting demographics reveal a city in rapid transition. An increasing number of young people are moving to the downtown core and creating a new wave of opportunities and challenges, according to the new Vital Signs report issued by the Toronto Community Foundation on Oct. 1. The annual report looks at citywide trends. This year, the report focuses on 12 areas ranging from economic developments to housing concerns.
The Vital Signs report summarizes Toronto`s recent accomplishments, including being named one of the top ten economically competitive cities on the globe and the fourth best place to live in the world, according to two different Economist reports, as well was named a `city of opportunity` by PricewaterhouseCoopers (PwC), and one of the top seven most intelligent cities by the Intelligent Community Forum.
Read the full article here.
Toronto`s shifting demographics reveal a city in rapid transition. An increasing number of young people are moving to the downtown core and creating a new wave of opportunities and challenges, according to the new Vital Signs report issued by the Toronto Community Foundation on Oct. 1. The annual report looks at citywide trends. This year, the report focuses on 12 areas ranging from economic developments to housing concerns.
The Vital Signs report summarizes Toronto`s recent accomplishments, including being named one of the top ten economically competitive cities on the globe and the fourth best place to live in the world, according to two different Economist reports, as well was named a `city of opportunity` by PricewaterhouseCoopers (PwC), and one of the top seven most intelligent cities by the Intelligent Community Forum.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Waterloo blazing a trail for Canada's tech scene
Google recently selected Waterloo`s Communitech as one of its seven `tech hubs`, the only Canadian member to make the cut. Despite the doom and gloom that BlackBerry`s fall from grace was predicted to bring to the city, Google still believes strongly in the area`s tech workforce. Motorola plans to hire an engineering team in the area.
Another emerging tech scene has been emerging in Vancouver over the past few years. Large global tech companies are moving, or establishing offices either in the Toronto/Waterloo area, or in Vancouver, where the rapidly growing HootSuite is based, and startup accelerator GrowLab offers entrepreneurs many of the tools they need to succeed.
Read the full article here.
Google recently selected Waterloo`s Communitech as one of its seven `tech hubs`, the only Canadian member to make the cut. Despite the doom and gloom that BlackBerry`s fall from grace was predicted to bring to the city, Google still believes strongly in the area`s tech workforce. Motorola plans to hire an engineering team in the area.
Another emerging tech scene has been emerging in Vancouver over the past few years. Large global tech companies are moving, or establishing offices either in the Toronto/Waterloo area, or in Vancouver, where the rapidly growing HootSuite is based, and startup accelerator GrowLab offers entrepreneurs many of the tools they need to succeed.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Ottawa's $3 billion transportation plan unveiled
A $3-billion expansion of Ottawa's rail system can happen in 10 years with the help of upper-tier governments, a 2.5% annual property tax increase and inflationary increases to transit fares, Mayor Jim Watson said Wednesday.
In a breakfast speech almost a year before the next municipal election, Watson announced that the updated transportation master plan -- which proposes $4 billion in transit, road, pedestrian and cycling investments through 2031 -- calls for rail extensions to Bayshore Shopping Centre, Place d'OrlÃans and Riverside South.
Read the full article here.
A $3-billion expansion of Ottawa's rail system can happen in 10 years with the help of upper-tier governments, a 2.5% annual property tax increase and inflationary increases to transit fares, Mayor Jim Watson said Wednesday.
In a breakfast speech almost a year before the next municipal election, Watson announced that the updated transportation master plan -- which proposes $4 billion in transit, road, pedestrian and cycling investments through 2031 -- calls for rail extensions to Bayshore Shopping Centre, Place d'OrlÃans and Riverside South.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Subway vs. LRT
Subways are once again on city council`s agenda, part of the ongoing, never-ending debate about the future of Scarborough transit. The City and the province already have a signed agreement to build a seven-stop light rail route; that plan would be fully paid for by Queen`s Park. This past summer, however, TTC Chair Karen Stintz (Ward 16, Eglinton-Lawrence) and councillor Glenn de Baeremaeker (Ward 38, Scarborough Centre)`with some enthusiastic cheerleading from mayor Rob Ford`spearheaded a push to reopen that agreement and build a three-stop subway instead.
The problem: that subway will cost approximately $1.5 billion more than the LRT, and though the federal government recently announced it would kick in $660 million of that money, city council must find the rest. This will mean significant property tax increases`something Rob Ford himself rejects (even though he wants the subway that property tax increase would purchase).
Read the full article here.
Subways are once again on city council`s agenda, part of the ongoing, never-ending debate about the future of Scarborough transit. The City and the province already have a signed agreement to build a seven-stop light rail route; that plan would be fully paid for by Queen`s Park. This past summer, however, TTC Chair Karen Stintz (Ward 16, Eglinton-Lawrence) and councillor Glenn de Baeremaeker (Ward 38, Scarborough Centre)`with some enthusiastic cheerleading from mayor Rob Ford`spearheaded a push to reopen that agreement and build a three-stop subway instead.
The problem: that subway will cost approximately $1.5 billion more than the LRT, and though the federal government recently announced it would kick in $660 million of that money, city council must find the rest. This will mean significant property tax increases`something Rob Ford himself rejects (even though he wants the subway that property tax increase would purchase).
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Toronto housing market posts healthy growth in third quarter
TORONTO, Oct. 10, 2013 /CNW/ - The Royal LePage House Price Survey released today showed strong year-over-year price gains for most housing types surveyed in Toronto, with the exception of standard condominiums, which were almost identical to last year's average prices.
Detached bungalows and standard two-storey homes both saw healthy year-over-year price appreciation in the third quarter, rising 5.0 per cent to $577,563 and 4.1 per cent to $678,016, respectively. Standard condominiums were essentially flat compared to last year, inching up 0.3 per cent to an average price of $355,483.
Read the full article here.
TORONTO, Oct. 10, 2013 /CNW/ - The Royal LePage House Price Survey released today showed strong year-over-year price gains for most housing types surveyed in Toronto, with the exception of standard condominiums, which were almost identical to last year's average prices.
Detached bungalows and standard two-storey homes both saw healthy year-over-year price appreciation in the third quarter, rising 5.0 per cent to $577,563 and 4.1 per cent to $678,016, respectively. Standard condominiums were essentially flat compared to last year, inching up 0.3 per cent to an average price of $355,483.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Scarborough subway extension a much needed investment in the future of transit
It was a little crazy, as usual. This is Toronto city council, after all. "This whole file has been a big, big, big, big mess," conceded city councillor Ana Bailao.
The debate on a new subway to Scarborough ground on all afternoon and into the evening, with subway backers fighting it out with those who prefer the original plan: replacing the old Scarborough RT with a new light-rail line along the same route.
Read the full article here.
It was a little crazy, as usual. This is Toronto city council, after all. "This whole file has been a big, big, big, big mess," conceded city councillor Ana Bailao.
The debate on a new subway to Scarborough ground on all afternoon and into the evening, with subway backers fighting it out with those who prefer the original plan: replacing the old Scarborough RT with a new light-rail line along the same route.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Jobless rate falls to 5.7% in Brantford
As much as September's 5.7% unemployment rate for the Brantford area should be celebrated, there's underlying concern over people dropping out of their job searches and whether those looking for work have the skills to match the available jobs.
On the surface, the news is good, as the rate tumbled 1.2% from August's 6.9%.
Read the full article here.
As much as September's 5.7% unemployment rate for the Brantford area should be celebrated, there's underlying concern over people dropping out of their job searches and whether those looking for work have the skills to match the available jobs.
On the surface, the news is good, as the rate tumbled 1.2% from August's 6.9%.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
GM to keep one Oshawa plant open extra two years
General Motors Co. will keep one of its two Oshawa, Ont., assembly plants open two years longer than expected, the company announced Thursday.
The move is designed to meet projected demand for the Chevrolet Impala and Chevrolet Equinox models, which are assembled at the consolidated plant in Oshawa. The consolidated plant assembles an older version of the Impala for fleet customers, while the neighbouring flexible plant builds the redesigned 2014 model of the full-sized sedan.
Read the full article here.
General Motors Co. will keep one of its two Oshawa, Ont., assembly plants open two years longer than expected, the company announced Thursday.
The move is designed to meet projected demand for the Chevrolet Impala and Chevrolet Equinox models, which are assembled at the consolidated plant in Oshawa. The consolidated plant assembles an older version of the Impala for fleet customers, while the neighbouring flexible plant builds the redesigned 2014 model of the full-sized sedan.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
GTA realtors release rental market report
TORONTO, ONTARIO -- (Marketwired) -- 10/16/13 -- Greater Toronto Area REALTORSÂ reported 6,541 condominium apartments rented through the TorontoMLS system in the third quarter of 2013. This result was up by 25 per cent in comparison to the third quarter of 2012. The number of condominium apartments listed for rent on the TorontoMLS system during the third quarter was up by 21 per cent year-over-year to 10,719.
Approximately 80 per cent of condominium apartment rental transactions took place in the City of Toronto. In addition, there was a substantial number of rentals reported in parts of Peel Region and York Region.
Read the full article here.
TORONTO, ONTARIO -- (Marketwired) -- 10/16/13 -- Greater Toronto Area REALTORSÂ reported 6,541 condominium apartments rented through the TorontoMLS system in the third quarter of 2013. This result was up by 25 per cent in comparison to the third quarter of 2012. The number of condominium apartments listed for rent on the TorontoMLS system during the third quarter was up by 21 per cent year-over-year to 10,719.
Approximately 80 per cent of condominium apartment rental transactions took place in the City of Toronto. In addition, there was a substantial number of rentals reported in parts of Peel Region and York Region.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Bigger is not better - Alberta, Saskatchewan, and New Brunswick beat out Quebec and Ontario for small business-friendly tax systems
Toronto, October 23, 2013 ` Canada`s two most populous provinces continue to lag behind most of the country when it comes to small business-friendly tax systems, according to an updated report by the Canadian Federation of Independent Business (CFIB). Nova Scotia also makes the bottom three.
The second edition of the Small Business Provincial Tax Index puts Ontario (#8), Nova Scotia (#9) and QuÃbec (#10) at the bottom, while Alberta, Saskatchewan and New Brunswick hold down the top three spots. The report examines how the provinces stack up against one another by examining 53 indicators in five major areas of tax policy: premiums and payroll taxes; sales and excise taxes; corporate income taxes; personal income taxes; and property taxes.
Read the full article here.
Toronto, October 23, 2013 ` Canada`s two most populous provinces continue to lag behind most of the country when it comes to small business-friendly tax systems, according to an updated report by the Canadian Federation of Independent Business (CFIB). Nova Scotia also makes the bottom three.
The second edition of the Small Business Provincial Tax Index puts Ontario (#8), Nova Scotia (#9) and QuÃbec (#10) at the bottom, while Alberta, Saskatchewan and New Brunswick hold down the top three spots. The report examines how the provinces stack up against one another by examining 53 indicators in five major areas of tax policy: premiums and payroll taxes; sales and excise taxes; corporate income taxes; personal income taxes; and property taxes.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
2013 shaping up to be the weakest year in a decade for GTA home sales
TORONTO -- The number of new homes sold in September in the Greater Toronto Area was up four per cent from the same month last year, but 2013 is shaping up to be the weakest year in a decade, according to industry figures.
In the first nine months of this year, there were 19,327 new homes sold in the GTA -- 44 per cent below the 10-year average, according RealNet Canada figures released by the Building Industry and Land Development Association.
Read the full article here.
TORONTO -- The number of new homes sold in September in the Greater Toronto Area was up four per cent from the same month last year, but 2013 is shaping up to be the weakest year in a decade, according to industry figures.
In the first nine months of this year, there were 19,327 new homes sold in the GTA -- 44 per cent below the 10-year average, according RealNet Canada figures released by the Building Industry and Land Development Association.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Growth spurt will be challenging for Hamilton to manage
Hamilton needs to get everything right to prepare for heavy growth coming its way, city manager Chris Murray told a business breakfast crowd Tuesday.
The province projects the municipalities west of Toronto will outstrip the growth in the megacity by four to one in population and three to one in jobs beginning in 2031.
Projections peg Hamilton's population at 740,000 by 2041, he said, a 42 per cent increase over 2011's census population of 520,000.
Read the full article here.
Hamilton needs to get everything right to prepare for heavy growth coming its way, city manager Chris Murray told a business breakfast crowd Tuesday.
The province projects the municipalities west of Toronto will outstrip the growth in the megacity by four to one in population and three to one in jobs beginning in 2031.
Projections peg Hamilton's population at 740,000 by 2041, he said, a 42 per cent increase over 2011's census population of 520,000.
Read the full article here.