ON Economic Fundamentals 2009-01

[joeiannuzzi]

0109ONTR
Should suicide have been disclosed to homebuyer?

Is a builder obligated to disclose to a purchaser the fact that a suicide occurred in the house just before the sale closes? That was the question posed to me recently by my colleague Howard Litowitz, who practises real estate law in Richmond Hill. He told me that his client, a builder, had a new home about to close when one of his staff discovered a deceased intruder in the premises.

http://www.yourhome.ca/homes/article/571184

 

[joeiannuzzi]

0109CATH
10% drop in real estate sales in `08

Total real estate sales and values in the region slumped last year, the Niagara Association of Realtors says.

In a Friday release, the association said there was a 10 per cent drop in total sales last year, compared to 2007.

The value of residential real estate sold through the Multiple Listing Service in 2008 was about $1.32 billion, down from $1.46 billion -- an 11 per cent difference.

http://www.stcatharinesstandard.ca/Article....aspx?e=1392768

 

[joeiannuzzi]

0109TNTO
Is Danforth East the new Parkdale?

The stretch of Danforth between Greenwood and Coxwell can be sparse for the culturati -- unless they`re taking a break for basement beers at the Danforth Bowl, that is. But that will change a bit tomorrow, with the opening of List, the strip`s first contemporary art gallery.

http://www.nationalpost.com/todays_paper/s...html?id=1187251

 

[joeiannuzzi]

0109LNDN
New real estate boss sees buyers` market in current downturn

After 22 years as a realtor, Joe Hough has seen his share of ups and downs in the market. Hough takes over as president of the London and St. Thomas Association of Realtors (LSTAR) at a time when home sales and prices are dropping after years of strong and steady growth.

He`s reluctant to predict how long the current downturn might last.

http://lfpress.ca/perl-bin/publish.cgi?x=a...342&s=homes

 

[joeiannuzzi]

0109LNDN
UWO cuts will have local impact

Budget cuts and construction delays at the University of Western Ontario -- triggered by the sputtering economy -- will have a spinoff effect the entire city will feel, observers say. Western announced this week it`s shelving construction projects, some departments are freezing hiring and employees may face layoffs because the university lost millions in the stock market.

http://lfpress.ca/newsstand/News/Local/200...054451-sun.html

 

[joeiannuzzi]

0109WIND
Most Via track land clear

About 60 per cent of Lakeshore residents have met a Dec. 31 deadline to remove personal belongings on railway property in the municipality, according to Catherine Caloutsky, spokeswoman for Via Rail.

Via set the deadline for about 1,000 homeowners to get their sheds, garages, cars and other possessions off railway lands.

http://www.canada.com/windsorstar/news/sto...37-4eec5314d192

 

[joeiannuzzi]

0109KWCG
Corners cut on transit spending

Regional council has voted to hike spending on roads, transit and the airport. The extra spending approved this year could top $40 million if rapid transit is approved.

So the 2009 budget is not standing still on transportation.

However, to keep a lid on costs, council rejected other proposed transportation upgrades estimated to cost more than $17 million.

http://news.therecord.com/News/Local/article/473516

 

[joeiannuzzi]

0109BPTN
Brampton asks feds for infrastructure cash that would create 21,500 new jobs

On her way back from Ottawa Thursday, Brampton Mayor Susan Fennell said she is "cautiously optimistic" that the federal government will come through with easy-access cash to build needed infrastructure here and across the country.

Fennell joined her counterparts from across Canada Thursday at the Big City Mayors Caucus (BCMC) to meet with federal Finance Minister Jim Flaherty and other federal leaders. The mayors presented their wish lists of "shovel-ready" infrastructure projects that could start right away and would create jobs.
Now, the mayors will wait and see if the government comes through with quick cash for some, or all, of the projects in its Jan. 28 budget.
The optimism comes because the federal government requested the infrastructure lists, Fennell said.

http://www.thebramptonguardian.com/news/article/63622

 

[joeiannuzzi]

0109BPTN
Regional council approves 4.1 per cent tax increase for 2009

Peel councillors signed off on the 2009 budget on Wednesday, voting to increase the regional portion of the property tax bill by 4.1 per cent.

That means, for an average residence in Peel assessed at $342,100, homeowners will pay an additional $64 this year.

http://www.thebramptonguardian.com/news/article/63486

 

[joeiannuzzi]

0109HAMN (Ancaster)
Residents hope to ground aerotropolis

A group of Hamilton residents are gearing up to ground the city`s idea to develop the agricultural land around the Hamilton Airport into a commercial and business complex. "(Councillors) need to know that there are citizens who are concerned about this," said Don McLean, chair of the community organization Citizens At City Hall (CATCH), and an opponent of the so-called aerotropolis.

http://www.ancasternews.com/news/article/159386

 

[joeiannuzzi]

0109HAMN (Burlington)
Builder predicts chaos if growth is halted

A battered residential building industry, already suffering from a 25 per cent drop in new home sales through the first 11 months of 2008 and struggling to get financing for new projects, is warning Halton Region that its plan to jack up the costs to develop homes is going to hurt one of the area`s largest employers, the construction industry. "Halton Region Chair Gary Carr`s threat to freeze development is undoubtedly popular on the home turf, but it could come back to bite him and all Halton residents," Michael Moldenhauer, outgoing president of the Building Industry and Land Development Association (BILD), wrote in the latest issue of Homes magazine.

http://www.burlingtonpost.com/news/article/231486

 

[joeiannuzzi]

0109KWCG
Dickson Street makeover planned for 2015 in Cambridge

CAMBRIDGE -- It will cost about $425,000 to make Dickson Street pedestrian friendly in front of the new $30 million city hall.


Council approved the plan Jan. 12, but it`s not proposed the work happen before 2015.

It`s waiting to be done at the same time as planned repairs to an 80-year-old watermain between Ainslie and Wellington streets.

http://www.cambridgereporter.com/news/article/159808

 

[joeiannuzzi]

0109OKVL
Development may slow down

Residential growth in north Oakville and Milton could slow down in two years as developers have requested less than half the sewer and water pipe allocations forecast by Halton Region, according to Regional Chair Gary Carr. The Region had expected developers to request the release of about 9,500 pipe allocations before 2011.

http://www.oakvillebeaver.com/news/article/231530

 

[joeiannuzzi]

0109ONTR
Got old paint? Take it back to store

New homeowner Sarah Daly was in a quandary over where to dispose of her half-empty paint cans.

She knew she could – but shouldn`t – throw the cans in the trash or her home recycling bin.

"We were at a loss of what to do with them," said the 33-year-old Toronto resident.

http://www.yourhome.ca/homes/article/573313

 

[joeiannuzzi]

0109TNTO GTA
Winning bid for Pan Am games would be a loss for city

If you believe the promoters of the Toronto 2015 Pan Am Games Committee, snagging the athletic gala will prove an enormous shot in the arm for the city.

For starters, the committee claims the Pan Am Games could generate close to $2-billion in economic activity; building the facilities will create 17,000 jobs; and the games will lure an estimated 250,000 tourists to the GTA.

http://www.nationalpost.com/todays_paper/s...html?id=1192542

 

[joeiannuzzi]

0109BAOR
New Wal-Mart Supercentre opens its doors

After months of watching it grow into a massive merchandise mecca, thousands of shoppers got their first look at Orillia`s new Wal-Mart Supercentre on Murphy Road Saturday.

From food on one side to tire and lube on the other, this huge store has everything many shoppers need for a one-stop shop, said Wal-Mart assistant manager, Jamie Shepstone.

"It`s a fresh feel to a Wal- Mart," he said, pointing out the nail spa, hair salon and lottery gaming section.

http://www.orilliapacket.com/ArticleDisplay.aspx?e=1393754

 

[joeiannuzzi]

0109MSGA
Residents gear up to fight power plant

Residents in south Mississauga fear they`re one step closer to housing a new gas-fuelled power plant after learning that Sithe Global Power has made the short list of companies vying to build a facility somewhere in the GTA.
Ontario Power Authority announced last Friday that it has identified four companies that will bid for the contract to build an 850-megawatt natural gas plant.
Should Sithe be awarded the contract — OPA will reveal the successful bidder in late June — it already has regulatory approval to build a plant near Winston Churchill Blvd., south of Royal Windsor Dr. The facility could be up and running by 2013.

http://mississauga.com/article/23141

 

[joeiannuzzi]

0109TNTO GTA
January home sales plunge 50%

The Toronto Real Estate Board yesterday reported a meagre 888 sales in the first half of January, compared with 1,776 sales during the same period a year ago.

The average price of a home is also down, 9.5 per cent to $332,495, compared with last year`s $367,574 – a $35,000 plunge.

"The economic situation in Canada has changed noticeably over the past year ... Toronto is not immune to this," TREB president Maureen O`Neill said.

"The GTA housing market has been impacted."

http://www.yourhome.ca/homes/article/573826

 

[joeiannuzzi]

0109BTFD
Developer says legal action won`t affect plans for south Colborne St.

AToronto developer insists that a legal action that has thrown a number of his properties and companies in Brantford and other nearby cities into receivership does not hamper his interest in redeveloping the south side of Colborne Street downtown.

Jack Lechcier-Kimel, owner of Summit Glen Developments and a host of other management and building firms, said Monday that he is still actively pursuing negotiations with several parties interested in locating in the downtown stretch. That despite the fact that a creditor has received an order from the Ontario Superior Court in Toronto, which appoints an interim receiver to take possession of the assets of companies that own several properties on Henry Street and Raleigh Street in West Brant.

http://www.brantfordexpositor.ca/ArticleDi....aspx?e=1394856

 

[joeiannuzzi]

0109OTWA
Federal government dips toes into Kanata real estate market

The federal government is making the first move into Kanata with the lease of part of a former Mitel Networks building.

Kelvin Holmes, managing director of Colliers International real estate, said yesterday the federal government will take 66,000 square feet in August with a move expected late this year.

http://www.ottawacitizen.com/Homes/Federal...5991/story.html