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Hello everyone. I have requested for the previous thread to be moved to the News archive section and will be be starting a new thread every quarter.
Ontario Economic Fundamentals 2008 Q2
- Thread starter joeiannuzzi
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Built to last
So much has changed since condominiums first hit the scene in the Toronto area in the early 1980s. For a long time, the concept of owning an apartment-style residence seemed foreign to buyers. The buildings were very much collections of apartments with a couple of extras such as a solarium or a swimming pool or gym relegated to a dim basement. Suites were, on average, larger than those in other buildings of the time but often contained a lot of wasted space. Decades later, some of the original condos look dated and tired - a scenario I believe today`s forward-thinking design will avoid.
http://www.torontosun.com/NewHomesandCondo...517996-sun.html
So much has changed since condominiums first hit the scene in the Toronto area in the early 1980s. For a long time, the concept of owning an apartment-style residence seemed foreign to buyers. The buildings were very much collections of apartments with a couple of extras such as a solarium or a swimming pool or gym relegated to a dim basement. Suites were, on average, larger than those in other buildings of the time but often contained a lot of wasted space. Decades later, some of the original condos look dated and tired - a scenario I believe today`s forward-thinking design will avoid.
http://www.torontosun.com/NewHomesandCondo...517996-sun.html
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Builders come out swinging
Builders are blasting provincial and municipal governments over what they call "alarming" increases in GTA development charges and say new homeowners are bearing the brunt.
At a news conference on Tuesday, the Building Industry and Land Development Association (BILD) released a report it had commissioned on the subject. "Over the Top: The Impact of Development Charges on New Homebuyers" details the doubling, tripling and even quadrupling of development charges in many municipalities over the last six-seven years.
http://www.torontosun.com/NewHomesandCondo...517971-sun.html
Builders are blasting provincial and municipal governments over what they call "alarming" increases in GTA development charges and say new homeowners are bearing the brunt.
At a news conference on Tuesday, the Building Industry and Land Development Association (BILD) released a report it had commissioned on the subject. "Over the Top: The Impact of Development Charges on New Homebuyers" details the doubling, tripling and even quadrupling of development charges in many municipalities over the last six-seven years.
http://www.torontosun.com/NewHomesandCondo...517971-sun.html
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The ins and outs of home inspection
Buying a home is probably one of the most expensive and important decisions you`ll ever make. But unlike many other major purchases, when it comes to buying a house, there`s no such thing as a money-back guarantee. Once you buy a home, you`re on your own to maintain and repair it, anticipate any problems – and pay the bills.
Before you make the commitment to buy a home, it pays to know as much as you can about potential problems. One of the best ways to learn about a home`s condition is to hire a professional home inspector. informed purchase decision
http://www.torontosun.com/ResaleHomesandCo...09/5522561.html
Buying a home is probably one of the most expensive and important decisions you`ll ever make. But unlike many other major purchases, when it comes to buying a house, there`s no such thing as a money-back guarantee. Once you buy a home, you`re on your own to maintain and repair it, anticipate any problems – and pay the bills.
Before you make the commitment to buy a home, it pays to know as much as you can about potential problems. One of the best ways to learn about a home`s condition is to hire a professional home inspector. informed purchase decision
http://www.torontosun.com/ResaleHomesandCo...09/5522561.html
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Bang for the buck
According to the Toronto Real Estate Board, resale home activity in the City of Toronto in the first half of April was down 11% compared with the same period last year, but the average price was $454,211 – up 10% over mid-April 2007
TREB`s latest statistics for the entire month of April, released earlier this week, were only slightly revised: overall activity for the month was down 10%, and the average price ended up at $446,781.
http://www.torontosun.com/ResaleHomesandCo...09/5522416.html
According to the Toronto Real Estate Board, resale home activity in the City of Toronto in the first half of April was down 11% compared with the same period last year, but the average price was $454,211 – up 10% over mid-April 2007
TREB`s latest statistics for the entire month of April, released earlier this week, were only slightly revised: overall activity for the month was down 10%, and the average price ended up at $446,781.
http://www.torontosun.com/ResaleHomesandCo...09/5522416.html
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Upgrading vs. uprooting
Sooner or later, many homeowners are faced with the decision of whether it is better to remain in their existing home or move and purchase another property.
While this decision is ultimately a personal choice, there are several factors one should consider when making this decision.
If you are looking to upgrade or expand your existing home for your own needs and you have no expectation of immediate financial return, then the benefits are clear. The end result – if all goes well – is that you will be living in a modern, comfortable space that you and your family will continue to enjoy.
http://www.torontosun.com/ResaleHomesandCo...09/5522271.html
Sooner or later, many homeowners are faced with the decision of whether it is better to remain in their existing home or move and purchase another property.
While this decision is ultimately a personal choice, there are several factors one should consider when making this decision.
If you are looking to upgrade or expand your existing home for your own needs and you have no expectation of immediate financial return, then the benefits are clear. The end result – if all goes well – is that you will be living in a modern, comfortable space that you and your family will continue to enjoy.
http://www.torontosun.com/ResaleHomesandCo...09/5522271.html
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Contractor robs couple of $7,000
When a Lively couple hired Alexander McLaren to do some renovations to their home, they didn`t expect to lose their possessions.
But that is exactly what happened, a Sudbury court was told
McLaren, 28, pleaded guilty to stealing more than $7,000 worth of items from the home during the month of September.
http://www.thesudburystar.com/ArticleDispl...ob+Vaillancourt
When a Lively couple hired Alexander McLaren to do some renovations to their home, they didn`t expect to lose their possessions.
But that is exactly what happened, a Sudbury court was told
McLaren, 28, pleaded guilty to stealing more than $7,000 worth of items from the home during the month of September.
http://www.thesudburystar.com/ArticleDispl...ob+Vaillancourt
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Student numbers falling
Sudbury Catholic District School Board trustees received a report detailing a bleak enrolment outlook at a meeting on Tuesday night.
The report, done by Watson and Associates Economists Ltd., shows overall enrolment is expected to fall by 14.2 per cent - or 908 students - at the board in the next 10 years.
The report points to the province`s changing demographic as the most significant factor influencing enrolment.
Trustee Jody Cameron raised some questions about the data in the report such as migration estimates and the new home construction in the region.
http://www.thesudburystar.com/ArticleDispl...th=Rachel+Punch
Sudbury Catholic District School Board trustees received a report detailing a bleak enrolment outlook at a meeting on Tuesday night.
The report, done by Watson and Associates Economists Ltd., shows overall enrolment is expected to fall by 14.2 per cent - or 908 students - at the board in the next 10 years.
The report points to the province`s changing demographic as the most significant factor influencing enrolment.
Trustee Jody Cameron raised some questions about the data in the report such as migration estimates and the new home construction in the region.
http://www.thesudburystar.com/ArticleDispl...th=Rachel+Punch
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Sudbury Business: High-end housing; Demand driving construction of dozens of new units
It`s quite the sight for motorists heading east on The Kingsway these days.
Look up to your left, way up, as you round the former Kingsway Hotel curve and you will see excavator buckets lifting chunks of rock and huge dump trucks hauling rock along a long, ever-expanding rock ridge running parallel to the highway.
The road will form the base of the second phase of Sunrise Ridge Estates located off Mont Adam Road.
http://www.thesudburystar.com/ArticleDispl...rold+Carmichael
It`s quite the sight for motorists heading east on The Kingsway these days.
Look up to your left, way up, as you round the former Kingsway Hotel curve and you will see excavator buckets lifting chunks of rock and huge dump trucks hauling rock along a long, ever-expanding rock ridge running parallel to the highway.
The road will form the base of the second phase of Sunrise Ridge Estates located off Mont Adam Road.
http://www.thesudburystar.com/ArticleDispl...rold+Carmichael
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Sarnia wants to land new automobile plant
Premier Dalton McGuinty is promising to land a new auto assembly plant in Ontario and Sarnia wants to be ready with the net.
"We`ve held talks to all of the players," said George Mallay, general manager of the Sarnia-Lambton Economic Partnership. "We`re very active in Sarnia-Lambton to attract auto parts and assembly business."
After losing more than 140,000 manufacturing jobs in recent years, McGuinty has said Ontario is willing to invest directly with automakers to secure jobs, even though GM plans to eliminate 900 workers at its Oshawa plant in which the province invested $235 million.
http://www.theobserver.ca/ArticleDisplay.a...th=JACK+POIRIER
Premier Dalton McGuinty is promising to land a new auto assembly plant in Ontario and Sarnia wants to be ready with the net.
"We`ve held talks to all of the players," said George Mallay, general manager of the Sarnia-Lambton Economic Partnership. "We`re very active in Sarnia-Lambton to attract auto parts and assembly business."
After losing more than 140,000 manufacturing jobs in recent years, McGuinty has said Ontario is willing to invest directly with automakers to secure jobs, even though GM plans to eliminate 900 workers at its Oshawa plant in which the province invested $235 million.
http://www.theobserver.ca/ArticleDisplay.a...th=JACK+POIRIER
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Suncor won`t stop plans; officials
Controversy over the production of ethanol won`t stop two major construction projects from proceeding in the Chemical Valley, industry officials say.
Spokesperson Jason Vaillant said Tuesday that of Suncor Energy still plans to double the size of its St. Clair Township ethanol plant, bringing capacity up to 400 million litres per year. In fact, plans call for construction to begin this year.
And Natalie Horrell of Northern Ethanol says that Toronto-based company hopes to begin construction of a proposed 400-million litre Sarnia plant this calendar year as well.
http://www.theobserver.ca/ArticleDisplay.aspx?e=1019872
Controversy over the production of ethanol won`t stop two major construction projects from proceeding in the Chemical Valley, industry officials say.
Spokesperson Jason Vaillant said Tuesday that of Suncor Energy still plans to double the size of its St. Clair Township ethanol plant, bringing capacity up to 400 million litres per year. In fact, plans call for construction to begin this year.
And Natalie Horrell of Northern Ethanol says that Toronto-based company hopes to begin construction of a proposed 400-million litre Sarnia plant this calendar year as well.
http://www.theobserver.ca/ArticleDisplay.aspx?e=1019872
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Real estate is paced to break 2007`s record; Weather to have positive sales impact
The spring weather is having the same effect on the local real estate market as it is on Mother Nature growth.
Year-to-date home sales are on pace to eclipse last year`s record-setting year, said Sarnia-Lambton Real Estate Board president Ralph Flamminio.
Sales for the month of April hit a record $35.4 million, he said, an increase of 10.7 per cent from last year. There were 202 homes sold in April, up 15 per cent from last April`s 176.
"Much of the the increase in sales volume can be attributed to the increase of sales for homes in the $100,000 to $200,000 price range," he said, with 100 units sold last month, up from 79 the previous year.
http://www.theobserver.ca/ArticleDisplay.a...th=JACK+POIRIER
The spring weather is having the same effect on the local real estate market as it is on Mother Nature growth.
Year-to-date home sales are on pace to eclipse last year`s record-setting year, said Sarnia-Lambton Real Estate Board president Ralph Flamminio.
Sales for the month of April hit a record $35.4 million, he said, an increase of 10.7 per cent from last year. There were 202 homes sold in April, up 15 per cent from last April`s 176.
"Much of the the increase in sales volume can be attributed to the increase of sales for homes in the $100,000 to $200,000 price range," he said, with 100 units sold last month, up from 79 the previous year.
http://www.theobserver.ca/ArticleDisplay.a...th=JACK+POIRIER
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Pressure on for plaza upgrades
After a decade of resistance, Michigan state officials are calling for much-needed improvements to the U.S. plaza of the Blue Water Bridge in Port Huron.
Following years of lobbying by the Blue Water Bridge Authority (BWBA) to convince the Michigan Department of Transportation (MDOT) to expand the plaza, the Michigan department is looking to move forward on a controversial $476-million US expansion.
Tens of millions of dollars have been wasted on studies, research and lobbyists, critics say, supporting what Canadian bridge operators have been saying all along.
http://www.theobserver.ca/ArticleDisplay.a...th=JACK+POIRIER
After a decade of resistance, Michigan state officials are calling for much-needed improvements to the U.S. plaza of the Blue Water Bridge in Port Huron.
Following years of lobbying by the Blue Water Bridge Authority (BWBA) to convince the Michigan Department of Transportation (MDOT) to expand the plaza, the Michigan department is looking to move forward on a controversial $476-million US expansion.
Tens of millions of dollars have been wasted on studies, research and lobbyists, critics say, supporting what Canadian bridge operators have been saying all along.
http://www.theobserver.ca/ArticleDisplay.a...th=JACK+POIRIER
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Expansion proposed in Tilbury; Canadian Tire rezoning goes to planning meeting
Tilbury could have a new Canadian Tire, if rezoning is approved next week.
Chatham-Kent will discuss the issue during Monday`s planning meeting.
The applicant, who owns the current location at 37 Mill St. E., has purchased 29 Mill St. E., and has a pending offer to purchase 43 Mill St. E.
However, only 37 and 43 Mill St. E. are the subject of the application.
The applicant proposes redeveloping the site by removing the current store and telecommunication tower on the property and replacing it with a larger, modern-format Canadian Tire store.
http://www.chathamdailynews.ca/ArticleDisplay.aspx?e=1020522
Tilbury could have a new Canadian Tire, if rezoning is approved next week.
Chatham-Kent will discuss the issue during Monday`s planning meeting.
The applicant, who owns the current location at 37 Mill St. E., has purchased 29 Mill St. E., and has a pending offer to purchase 43 Mill St. E.
However, only 37 and 43 Mill St. E. are the subject of the application.
The applicant proposes redeveloping the site by removing the current store and telecommunication tower on the property and replacing it with a larger, modern-format Canadian Tire store.
http://www.chathamdailynews.ca/ArticleDisplay.aspx?e=1020522
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Special planning services meeting Monday in Pelham
On Monday, Pelham town councillors will consider the future of a 13-hectare (32.12-acre) parcel of town-owned land at Regional Road 20 and Rice Road.
The property was purchased in January 2005 as a possible site of a new arena.
A part of it has also been offered as a site for a new Niagara Regional Police headquarters.
Council will hold a general committee meeting at 6 p.m. Monday in the council chambers at the town hall in Fonthill.
At it, councillors will look at whether to retain the property, sell it or split it for retention and sale.
http://www.wellandtribune.ca/ArticleDispla...=WAYNE+CAMPBELL
On Monday, Pelham town councillors will consider the future of a 13-hectare (32.12-acre) parcel of town-owned land at Regional Road 20 and Rice Road.
The property was purchased in January 2005 as a possible site of a new arena.
A part of it has also been offered as a site for a new Niagara Regional Police headquarters.
Council will hold a general committee meeting at 6 p.m. Monday in the council chambers at the town hall in Fonthill.
At it, councillors will look at whether to retain the property, sell it or split it for retention and sale.
http://www.wellandtribune.ca/ArticleDispla...=WAYNE+CAMPBELL
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Co-operation needed to spur new economy
Canada and the United States are economically inseparable.
That is particularly true in the Great Lakes region.
Working with the American states bordering the Great Lakes can speed the transformation into the new knowledge economy for Niagara and Ontario, Britany Affolter-Caine says.
Affolter-Caine, a senior research associate at the Brookings Institution, spoke at the Smarter Niagara conference Friday. The conference was held at the Welland Lions Club.
http://www.wellandtribune.ca/ArticleDispla...th=DEREK+SWARTZ
Canada and the United States are economically inseparable.
That is particularly true in the Great Lakes region.
Working with the American states bordering the Great Lakes can speed the transformation into the new knowledge economy for Niagara and Ontario, Britany Affolter-Caine says.
Affolter-Caine, a senior research associate at the Brookings Institution, spoke at the Smarter Niagara conference Friday. The conference was held at the Welland Lions Club.
http://www.wellandtribune.ca/ArticleDispla...th=DEREK+SWARTZ
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Niagara on track, says Regional chair
Peter Partington believes Niagara is on the road to a bright future - even if it`s bumpy.
The regional chairman envisions a Niagara full of interconnected communities and vibrant downtowns.
More greenspace and less urban sprawl.
A healthy agricultural community and a diversified economy.
"We`re on track," Partington told 160 business leaders at his annual state of the region address to the St. Catharines-Thorold Chamber of Commerce Wednesday.
http://www.wellandtribune.ca/ArticleDispla...THEW+VAN+DONGEN
Peter Partington believes Niagara is on the road to a bright future - even if it`s bumpy.
The regional chairman envisions a Niagara full of interconnected communities and vibrant downtowns.
More greenspace and less urban sprawl.
A healthy agricultural community and a diversified economy.
"We`re on track," Partington told 160 business leaders at his annual state of the region address to the St. Catharines-Thorold Chamber of Commerce Wednesday.
http://www.wellandtribune.ca/ArticleDispla...THEW+VAN+DONGEN
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Welland Transit will loop through Fonthill
FONTHILL – Starting in September, Pelham and Welland will share transit service with a loop through Fonthill.
Pelham town council`s general committee Monday approved a deal between the town and Welland Transit to link the town to city at Niagara College for a year.
Niagara College would act as a hub. From there riders could travel into Welland or onto St. Catharines, Thorold, Port Colborne or Niagara Falls.
Welland Transit will provide three morning, three midday and three afternoon runs five days a week.
http://www.wellandtribune.ca/ArticleDispla...h=Tribune+Staff
FONTHILL – Starting in September, Pelham and Welland will share transit service with a loop through Fonthill.
Pelham town council`s general committee Monday approved a deal between the town and Welland Transit to link the town to city at Niagara College for a year.
Niagara College would act as a hub. From there riders could travel into Welland or onto St. Catharines, Thorold, Port Colborne or Niagara Falls.
Welland Transit will provide three morning, three midday and three afternoon runs five days a week.
http://www.wellandtribune.ca/ArticleDispla...h=Tribune+Staff
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Toronto market still favours sellers
Sellers still have the advantage in a sluggish Toronto housing market as buyers compete for the relatively few properties up for sale, according to data from the Toronto Real Estate Board.
April numbers show a 7 per cent drop in the number of sales in the Greater Toronto Area compared with the record pace set in the same month last year.
Still, April`s activity was an improvement over the dismal showing in the first quarter of 2008, TREB statistics show.
House prices are up in the resale market, meanwhile, with a 5 per cent jump in the GTA in April over April, 2007. The average price in the GTA stood at $398,687, compared with last year`s $379,025 in April.
http://www.theglobeandmail.com/servlet/sto...RealEstate/home
Sellers still have the advantage in a sluggish Toronto housing market as buyers compete for the relatively few properties up for sale, according to data from the Toronto Real Estate Board.
April numbers show a 7 per cent drop in the number of sales in the Greater Toronto Area compared with the record pace set in the same month last year.
Still, April`s activity was an improvement over the dismal showing in the first quarter of 2008, TREB statistics show.
House prices are up in the resale market, meanwhile, with a 5 per cent jump in the GTA in April over April, 2007. The average price in the GTA stood at $398,687, compared with last year`s $379,025 in April.
http://www.theglobeandmail.com/servlet/sto...RealEstate/home
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Brampton ranks No. 1 for highest development charges
The City of Brampton makes no apologies for having the highest development charges in the GTA.
"We are in step with what other GTA municipalities are doing," said city spokesperson Gordon Smith. "We all face the same issues, particularly in dealing with growth and infrastructure, and making sure we have the revenue streams to be able to properly address growth."
Development charges are a crucial revenue source for funding the cost of new community centres, transit and libraries, he said. If growth doesn`t pay for itself through development charges, then the cost falls to the property tax bills.
http://www.thebramptonguardian.com/news/article/48594
The City of Brampton makes no apologies for having the highest development charges in the GTA.
"We are in step with what other GTA municipalities are doing," said city spokesperson Gordon Smith. "We all face the same issues, particularly in dealing with growth and infrastructure, and making sure we have the revenue streams to be able to properly address growth."
Development charges are a crucial revenue source for funding the cost of new community centres, transit and libraries, he said. If growth doesn`t pay for itself through development charges, then the cost falls to the property tax bills.
http://www.thebramptonguardian.com/news/article/48594