April 2010
- Thread starter Ally
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Jolt for declining Ontario towns
Driving his signature red Ford Mustang with Bruce Springsteen blasting on the radio, Sarnia Mayor Mike Bradley is a politician who knows how to get ink. He writes his own humour column in the local newspaper and even scored a cameo in Michael Moore`s documentary Bowling for Columbine. His easy manner has kept him in office for 22 years. That, and his ability to help create jobs.
The unemployment rate in Sarnia is lower than most other cities in southern Ontario, but that was not always the case. In the mid-1990s Sarnia, known as Chemical Valley, hit tough times. Between 1994-1996, there were roughly 7,000 layoffs in the city of 79,000 and the jobless rate hit 18%.
"Every time the phone would ring I`d say, `How many, and when,` " Mr. Bradley recalls. "Those were terrible times, but they taught the one-industry town a lesson: diversify, diversify, diversify."
Sarnia has been slowly diversifying from Chemical Valley to hub for alternative energy. It boasts the largest solar farm in North America, Canada`s biggest ethanol plant and a new research park. "We were in alternative energy before it was sexy," Mr. Bradley says.
Despite Sarnia`s head start, Mr. Bradley is angry his town might not get a piece of the biggest alternative energy deal announced in Ontario.
Read the full article here.
Driving his signature red Ford Mustang with Bruce Springsteen blasting on the radio, Sarnia Mayor Mike Bradley is a politician who knows how to get ink. He writes his own humour column in the local newspaper and even scored a cameo in Michael Moore`s documentary Bowling for Columbine. His easy manner has kept him in office for 22 years. That, and his ability to help create jobs.
The unemployment rate in Sarnia is lower than most other cities in southern Ontario, but that was not always the case. In the mid-1990s Sarnia, known as Chemical Valley, hit tough times. Between 1994-1996, there were roughly 7,000 layoffs in the city of 79,000 and the jobless rate hit 18%.
"Every time the phone would ring I`d say, `How many, and when,` " Mr. Bradley recalls. "Those were terrible times, but they taught the one-industry town a lesson: diversify, diversify, diversify."
Sarnia has been slowly diversifying from Chemical Valley to hub for alternative energy. It boasts the largest solar farm in North America, Canada`s biggest ethanol plant and a new research park. "We were in alternative energy before it was sexy," Mr. Bradley says.
Despite Sarnia`s head start, Mr. Bradley is angry his town might not get a piece of the biggest alternative energy deal announced in Ontario.
Read the full article here.
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Waterloo - Train to a sustainable future
Recently, the Region of Waterloo`s proposal to construct a Light Rail Transit (LRT) system was described in a National Post column (Train to nowhere, Peter Shawn Taylor, Jan. 29) as "Waterloo`s train to nowhere." The criticism suggested that LRTs are only viable in large cities, with concentrated employment and a large number of commuting trips. As someone who has studied, planned and designed transportation systems for two decades, I contend these assertions are wrong.
To claim that Waterloo Region with a population of about 500,000 — but projected to grow to 730,000 — is "too small" for LRT is simplistic. In Germany, 23 cities with populations less than 400,000 have successful LRT systems totaling more than 1,000 km!
To assess LRT suitability based solely on population and employment is naive. Consider the examples of Cleveland and Buffalo. Cleveland`s population is about one-and-a-half times that of Buffalo; Cleveland`s LRT system is almost two-and-a-half times as long. But, Buffalo`s LRT system carries about four times more riders per day than Cleveland`s system.
Arguing that LRT can only service a single downtown demonstrates failure to understand modern urban form. Cities no longer have single downtowns, but more commonly have "activity centres" — areas of concentrated employment and population. Transportation planning emphasizes providing capacity within these activity centres and on the corridors that connect them.
Unlike many sprawling cities, Waterloo is well-positioned because currently the Region`s activity centres occur along a linear, transit-friendly alignment, known as the central transit corridor (CTC) where LRT is proposed. Moreover, plans are in place to guide much of the future growth towards the CTC. Working within the Province`s "Place to Grow" legislation, the Region`s Growth Management Strategy (RGMS) limits the amount of low-density development away from the CTC through regulation and targeted infrastructure investments.
Read the full article here.
Recently, the Region of Waterloo`s proposal to construct a Light Rail Transit (LRT) system was described in a National Post column (Train to nowhere, Peter Shawn Taylor, Jan. 29) as "Waterloo`s train to nowhere." The criticism suggested that LRTs are only viable in large cities, with concentrated employment and a large number of commuting trips. As someone who has studied, planned and designed transportation systems for two decades, I contend these assertions are wrong.
To claim that Waterloo Region with a population of about 500,000 — but projected to grow to 730,000 — is "too small" for LRT is simplistic. In Germany, 23 cities with populations less than 400,000 have successful LRT systems totaling more than 1,000 km!
To assess LRT suitability based solely on population and employment is naive. Consider the examples of Cleveland and Buffalo. Cleveland`s population is about one-and-a-half times that of Buffalo; Cleveland`s LRT system is almost two-and-a-half times as long. But, Buffalo`s LRT system carries about four times more riders per day than Cleveland`s system.
Arguing that LRT can only service a single downtown demonstrates failure to understand modern urban form. Cities no longer have single downtowns, but more commonly have "activity centres" — areas of concentrated employment and population. Transportation planning emphasizes providing capacity within these activity centres and on the corridors that connect them.
Unlike many sprawling cities, Waterloo is well-positioned because currently the Region`s activity centres occur along a linear, transit-friendly alignment, known as the central transit corridor (CTC) where LRT is proposed. Moreover, plans are in place to guide much of the future growth towards the CTC. Working within the Province`s "Place to Grow" legislation, the Region`s Growth Management Strategy (RGMS) limits the amount of low-density development away from the CTC through regulation and targeted infrastructure investments.
Read the full article here.
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Ontario`s auto sector gets fresh boost
The auto industry is starting to recapture its status as the strongman of the Ontario economy, but it`s not as muscular as it was.
In the second positive jolt for Ontario`s battered auto and manufacturing sector in less than a week, Honda of Canada Mfg. said it will restore 400 jobs at one of its assembly plants in Alliston, Ont., and boost production there to 600 vehicles a day from the current 400.
The good news is that the Honda move, combined with the recall of 700 workers at a General Motors of Canada Ltd. plant in Oshawa, Ont., announced last Friday, and the start of a second shift of workers two weeks ago at Toyota Motor Manufacturing Canada Inc. plant in Woodstock, Ont., will put about 2,000 people back to work in the auto sector.
The bad news, however, is that about 38,000 jobs in vehicle assembly and parts manufacturing disappeared between the end of 2007 and December, 2009, when the auto industry experienced the worst crisis it has faced since the Great Depression of the 1930s.
That means there are still 36,000 positions left to replace in an industry that is not expected to see vehicle sales recover to pre-crisis levels until at least the middle of the decade.
"You have to be positive, but you also can`t lose sight of just how much more work is in front of us," said industry analyst Dennis DesRosiers, president of DesRosiers Automotive Consultants Inc., of Richmond Hill, Ont.
Mr. DesRosiers noted that after every decline since the end of the Second World War, the auto industry has bounced back, in some cases from declines of 25 per cent of more.
Read the full article here.
The auto industry is starting to recapture its status as the strongman of the Ontario economy, but it`s not as muscular as it was.
In the second positive jolt for Ontario`s battered auto and manufacturing sector in less than a week, Honda of Canada Mfg. said it will restore 400 jobs at one of its assembly plants in Alliston, Ont., and boost production there to 600 vehicles a day from the current 400.
The good news is that the Honda move, combined with the recall of 700 workers at a General Motors of Canada Ltd. plant in Oshawa, Ont., announced last Friday, and the start of a second shift of workers two weeks ago at Toyota Motor Manufacturing Canada Inc. plant in Woodstock, Ont., will put about 2,000 people back to work in the auto sector.
The bad news, however, is that about 38,000 jobs in vehicle assembly and parts manufacturing disappeared between the end of 2007 and December, 2009, when the auto industry experienced the worst crisis it has faced since the Great Depression of the 1930s.
That means there are still 36,000 positions left to replace in an industry that is not expected to see vehicle sales recover to pre-crisis levels until at least the middle of the decade.
"You have to be positive, but you also can`t lose sight of just how much more work is in front of us," said industry analyst Dennis DesRosiers, president of DesRosiers Automotive Consultants Inc., of Richmond Hill, Ont.
Mr. DesRosiers noted that after every decline since the end of the Second World War, the auto industry has bounced back, in some cases from declines of 25 per cent of more.
Read the full article here.
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Hundreds back on job at GM
Ontario`s auto industry received a boost Friday when General Motors of Canada indicated the company will jack up production of hot-selling crossover utility models and add almost 700 jobs at its Oshawa and Ingersoll operations.
The company said it will add a third shift on an Oshawa line in October to produce the Chevrolet Equinox under a unique plan with its CAMI assembly operation in Ingersoll, which already assembles the vehicle and the GMC Terrain.
GM said that under the plan, it will expand the CAMI body shop to produce additional Chevrolet Equinox vehicles beyond the plant`s existing capacity to paint and assemble them. The company will then ship those units to Oshawa for painting and final assembly on the same line that produces the Chevrolet Impala.
That plan will also allow GM to increase Terrain output at the CAMI operation, which is already operating on three shifts, GM added.
"This plan for CAMI and Oshawa allows us to meet customer demand for hot products while avoiding a potential production overcapacity situation by creatively using our assets and facilities," said Mark Reuss, president of GM North America. "This innovative approach enables us to ramp up in a timely and cost-effective way and highlights the importance of these plants and communities in our North American plans."
Read the full article here.
Ontario`s auto industry received a boost Friday when General Motors of Canada indicated the company will jack up production of hot-selling crossover utility models and add almost 700 jobs at its Oshawa and Ingersoll operations.
The company said it will add a third shift on an Oshawa line in October to produce the Chevrolet Equinox under a unique plan with its CAMI assembly operation in Ingersoll, which already assembles the vehicle and the GMC Terrain.
GM said that under the plan, it will expand the CAMI body shop to produce additional Chevrolet Equinox vehicles beyond the plant`s existing capacity to paint and assemble them. The company will then ship those units to Oshawa for painting and final assembly on the same line that produces the Chevrolet Impala.
That plan will also allow GM to increase Terrain output at the CAMI operation, which is already operating on three shifts, GM added.
"This plan for CAMI and Oshawa allows us to meet customer demand for hot products while avoiding a potential production overcapacity situation by creatively using our assets and facilities," said Mark Reuss, president of GM North America. "This innovative approach enables us to ramp up in a timely and cost-effective way and highlights the importance of these plants and communities in our North American plans."
Read the full article here.
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Job creation `great for Canada`: CAW
The president of the Canadian Auto Workers Union says General Motor`s decision to recall more than 600 laid-off workers at two plants in Ontario is “great for Canada.”
Ken Lewenza says the move marks the first time in almost a decade that all the automaker`s Canadian employees will have a job to report to.
He says the decision to boost staff in Oshawa and Ingersoll is timely for workers who have been hit hard by the economic downturn
that brought the North American auto industry to its knees last year.
Read the full article here.
The president of the Canadian Auto Workers Union says General Motor`s decision to recall more than 600 laid-off workers at two plants in Ontario is “great for Canada.”
Ken Lewenza says the move marks the first time in almost a decade that all the automaker`s Canadian employees will have a job to report to.
He says the decision to boost staff in Oshawa and Ingersoll is timely for workers who have been hit hard by the economic downturn
that brought the North American auto industry to its knees last year.Read the full article here.
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Lakeside Steel gearing up amid higher demand from the oil industry
TORONTO — Lakeside Steel Inc. (TSXV:LS) will boost production at its plant in southern Ontario to meet "significantly stronger demand" from its energy industry customers - a sign that brighter times may be returning to a sector battered by recession and industrial restructuring.
The company said Wednesday it will add more production shifts at its new Welland, Ont., plant amid an influx of orders. Lakeside has secured sufficient orders to operate at full capacity during the April to June period, and said it continues to receive orders beyond June 30.
Lakeside didn`t immediately comment on how many workers would be hired.
The steel industry was hit particularly hard during the global recession, as the many industries that it supplies - including construction, automotive, mining and oil and gas - all faced lower demand and dramatically curtailed production as a result.
However, demand is starting to return to many sectors of the economy, which is in turn boosting prospects for steelmakers.
Read the full article here.
TORONTO — Lakeside Steel Inc. (TSXV:LS) will boost production at its plant in southern Ontario to meet "significantly stronger demand" from its energy industry customers - a sign that brighter times may be returning to a sector battered by recession and industrial restructuring.
The company said Wednesday it will add more production shifts at its new Welland, Ont., plant amid an influx of orders. Lakeside has secured sufficient orders to operate at full capacity during the April to June period, and said it continues to receive orders beyond June 30.
Lakeside didn`t immediately comment on how many workers would be hired.
The steel industry was hit particularly hard during the global recession, as the many industries that it supplies - including construction, automotive, mining and oil and gas - all faced lower demand and dramatically curtailed production as a result.
However, demand is starting to return to many sectors of the economy, which is in turn boosting prospects for steelmakers.
Read the full article here.
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Firms plan to boost hiring, investment
Canadian businesses plan to boost hiring and investment in the coming year as their sales increase, the latest quarterly survey from the Bank of Canada.
Companies are also setting their sights on improving efficiency and expanding their operations, despite still-tight credit conditions, according to the Business Outlook Survey, released Monday.
"Responses to the spring survey provide further evidence that the recovery is taking hold," the central bank wrote in its report.
Businesses are not yet operating at capacity, and most expect to keep prices stable or raise them slightly, following the deep discounts of the recession.
Still, inflation is expected to remain within the central bank`s target range.
However, the survey, conducted Feb. 22 to March 18, also revealed that while big companies report easier access to credit over the last three months, small and medium-sized companies found tighter lending conditions.
Read the full article here.
Canadian businesses plan to boost hiring and investment in the coming year as their sales increase, the latest quarterly survey from the Bank of Canada.
Companies are also setting their sights on improving efficiency and expanding their operations, despite still-tight credit conditions, according to the Business Outlook Survey, released Monday.
"Responses to the spring survey provide further evidence that the recovery is taking hold," the central bank wrote in its report.
Businesses are not yet operating at capacity, and most expect to keep prices stable or raise them slightly, following the deep discounts of the recession.
Still, inflation is expected to remain within the central bank`s target range.
However, the survey, conducted Feb. 22 to March 18, also revealed that while big companies report easier access to credit over the last three months, small and medium-sized companies found tighter lending conditions.
Read the full article here.
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Renters to get exclusive HST break
Ontario`s 1.3 million renter households will be protected from rent increases due to the HST, the Star has learned.
In advance of the harmonized sales tax taking effect in July, sources say the Liberal government will close a loophole in rent regulations that would have allowed landlords to apply for above-guideline rent increases based on the new 13 per cent tax on utilities.
Instead, the new HST costs for utilities will be reflected in rent only as they affect the Consumer Price Index, which the province uses to calculate the annual rent increase guideline.
The announcement is expected as early as Monday.
Landlords warned last March that the HST would increase residential rents by 2.5 to 3 per cent and cost the average tenant $270 to $320 more per year. Tenants with higher rents could see annual increases of up to $1,000, said Vince Brescia of the Federation of Rental Housing providers of Ontario.
Read the full article here.
Ontario`s 1.3 million renter households will be protected from rent increases due to the HST, the Star has learned.
In advance of the harmonized sales tax taking effect in July, sources say the Liberal government will close a loophole in rent regulations that would have allowed landlords to apply for above-guideline rent increases based on the new 13 per cent tax on utilities.
Instead, the new HST costs for utilities will be reflected in rent only as they affect the Consumer Price Index, which the province uses to calculate the annual rent increase guideline.
The announcement is expected as early as Monday.
Landlords warned last March that the HST would increase residential rents by 2.5 to 3 per cent and cost the average tenant $270 to $320 more per year. Tenants with higher rents could see annual increases of up to $1,000, said Vince Brescia of the Federation of Rental Housing providers of Ontario.
Read the full article here.
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New house price index rises in February
OTTAWA-The New Housing Price Index rose 0.1 per cent in February following a 0.4 per cent increase in January.
Statistics Canada reports prices rose in 14 of 21 metropolitan areas between January and February.
Prices increased the most in Regina (up two per cent), followed by Winnipeg and London (both up 1.9).
Toronto and Oshawa (down 0.7 per cent) as well as Charlottetown (down 0.5) were the only metropolitan areas to register monthly decreases in February.
Read the full article here.
OTTAWA-The New Housing Price Index rose 0.1 per cent in February following a 0.4 per cent increase in January.
Statistics Canada reports prices rose in 14 of 21 metropolitan areas between January and February.
Prices increased the most in Regina (up two per cent), followed by Winnipeg and London (both up 1.9).
Toronto and Oshawa (down 0.7 per cent) as well as Charlottetown (down 0.5) were the only metropolitan areas to register monthly decreases in February.
Read the full article here.
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Housing starts slip in March after gains in January-February, CMHC reports
OTTAWA—The seasonally adjusted annual rate of housing starts dropped to 197,300 units in March.
Canada Mortgage and Housing Corp. reports also revised its annual rate estimates for January and February.
This resulted in month-over-month gains of 7.5 per cent in January (189,000 units), six per cent in February (200,400 units), and a slight decrease of 1.5 per cent in March.
CMHC attributes the March slip to a decrease in the volatile multiple starts segment; single starts and rural construction helped to offset the slide.
The annual rate of urban starts decreased 4.2 per cent to 175,200 units in March.
Urban multiple starts decreased 15.2 per cent to 77,500 units, while single urban starts increased 6.9 per cent to 97,700 units.
Read the full article here.
OTTAWA—The seasonally adjusted annual rate of housing starts dropped to 197,300 units in March.
Canada Mortgage and Housing Corp. reports also revised its annual rate estimates for January and February.
This resulted in month-over-month gains of 7.5 per cent in January (189,000 units), six per cent in February (200,400 units), and a slight decrease of 1.5 per cent in March.
CMHC attributes the March slip to a decrease in the volatile multiple starts segment; single starts and rural construction helped to offset the slide.
The annual rate of urban starts decreased 4.2 per cent to 175,200 units in March.
Urban multiple starts decreased 15.2 per cent to 77,500 units, while single urban starts increased 6.9 per cent to 97,700 units.
Read the full article here.
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Housing boom shows no signs of slowing
Greater Toronto housing prices jumped 20 per cent in March compared with the same time last year, the Toronto Real Estate Board reported Tuesday.
Continuing an upward trend, the average existing house price hit $434,696 last month – up from $362,052 during the economic recession one year earlier, figures show.
First-quarter sales numbers proved the best on record since the real-estate board`s boundaries changed more than a decade ago, said Jason Mercer, the board`s senior manager of market analysis.
Realtors registered 10,430 sales through the Multiple Listing Service, lifting total sales for the first three months of 2010 to 22,418, TREB figures show.
"We`re still going to see prices growing," Mercer said looking ahead. Ontario`s harmonized sales tax takes effect July 1, adding to purchase costs, and mortgage rates are heading higher, perhaps creating a drag on the market.
"But if you look at it from a historic perspective, borrowing costs are still going to be quite low," Mercer said. "A lot of households are still going to find it affordable to move into some sort of ownership housing, or move around in that market if they already have a home."
Read the full article here.
Greater Toronto housing prices jumped 20 per cent in March compared with the same time last year, the Toronto Real Estate Board reported Tuesday.
Continuing an upward trend, the average existing house price hit $434,696 last month – up from $362,052 during the economic recession one year earlier, figures show.
First-quarter sales numbers proved the best on record since the real-estate board`s boundaries changed more than a decade ago, said Jason Mercer, the board`s senior manager of market analysis.
Realtors registered 10,430 sales through the Multiple Listing Service, lifting total sales for the first three months of 2010 to 22,418, TREB figures show.
"We`re still going to see prices growing," Mercer said looking ahead. Ontario`s harmonized sales tax takes effect July 1, adding to purchase costs, and mortgage rates are heading higher, perhaps creating a drag on the market.
"But if you look at it from a historic perspective, borrowing costs are still going to be quite low," Mercer said. "A lot of households are still going to find it affordable to move into some sort of ownership housing, or move around in that market if they already have a home."
Read the full article here.
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Cottage sales rebound as economy heats up
Barry Tsur acknowledges that the current economic environment isn`t the best time to be selling multimillion-dollar cottages.
The 71-year old retiree has been living in his palatial 12,000-sq.-ft. home on Lake Simcoe for two years. The property was his "retirement dream."
But circumstances change and he wants to move closer to his children overseas, so he`s put his home on the market.
The problem is finding a buyer willing to part with anywhere north of $3 million when bling is out of vogue. And nothing says discretionary purchase like a mansion on a lake with 1,200 feet of shoreline.
"People are downsizing, rather than upsizing, but they still need to entertain," says Tsur.
Read the full article here.
Barry Tsur acknowledges that the current economic environment isn`t the best time to be selling multimillion-dollar cottages.
The 71-year old retiree has been living in his palatial 12,000-sq.-ft. home on Lake Simcoe for two years. The property was his "retirement dream."
But circumstances change and he wants to move closer to his children overseas, so he`s put his home on the market.
The problem is finding a buyer willing to part with anywhere north of $3 million when bling is out of vogue. And nothing says discretionary purchase like a mansion on a lake with 1,200 feet of shoreline.
"People are downsizing, rather than upsizing, but they still need to entertain," says Tsur.
Read the full article here.
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- Joined
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Ontario gets new Volkswagen engine plant
The Ontario government has set its sights on landing a Volkswagen AG
engine or transmission plant as a way of tapping tens of billions of dollars that global auto makers will invest during the next five years to meet stringent new North American fuel economy rules.
Volkswagen is about one year away from starting production at an assembly plant it is building in Chattanooga, Tenn., but is expected to add new engine and transmission facilities later to supply the 150,000 vehicles that will be made there annually.
"We knew if we didn`t land the [assembly] plant, that`s our next goal," Ontario Economic Development Minister Sandra Pupatello said in an interview.
The process is still in its early stages, and it is not known exactly how far the government is prepared to go to lure an engine or transmission factory to the province. If government incentives are the only factor for auto makers studying such huge investments, Ms. Pupatello acknowledged, Ontario will lose out to U.S. states. Instead of money, the province will showcase its skilled work force and expertise in innovation, she said.
Volkswagen faces the same expensive and formidable problem as its rivals in North America – making sure their vehicles are about 25 per cent more fuel efficient by 2016 than the cars now on the road. That will require vast amounts of research and spending to refine internal combustion engines. The research will also involve the development of hybrid and plug-in hybrid engines and improving transmissions so they contribute to higher fuel economy.
Read the full article here.
The Ontario government has set its sights on landing a Volkswagen AG
engine or transmission plant as a way of tapping tens of billions of dollars that global auto makers will invest during the next five years to meet stringent new North American fuel economy rules. Volkswagen is about one year away from starting production at an assembly plant it is building in Chattanooga, Tenn., but is expected to add new engine and transmission facilities later to supply the 150,000 vehicles that will be made there annually.
"We knew if we didn`t land the [assembly] plant, that`s our next goal," Ontario Economic Development Minister Sandra Pupatello said in an interview.
The process is still in its early stages, and it is not known exactly how far the government is prepared to go to lure an engine or transmission factory to the province. If government incentives are the only factor for auto makers studying such huge investments, Ms. Pupatello acknowledged, Ontario will lose out to U.S. states. Instead of money, the province will showcase its skilled work force and expertise in innovation, she said.
Volkswagen faces the same expensive and formidable problem as its rivals in North America – making sure their vehicles are about 25 per cent more fuel efficient by 2016 than the cars now on the road. That will require vast amounts of research and spending to refine internal combustion engines. The research will also involve the development of hybrid and plug-in hybrid engines and improving transmissions so they contribute to higher fuel economy.
Read the full article here.
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Toronto home sales surge
Toronto`s real estate market reported a massive surge in listing and sales activity in March, as more consumers rushed to purchase homes before interest rates take an expected hike in the next few months.
"Toronto has certainly helped to turbocharge the first-quarter numbers for Ontario," said Canadian Real Estate Association chief economist Gregory Klump.
"The market is extremely hot.
"The talk has been that interest rates are going to rise and as a result buyers are getting into the market sooner rather than later."
In March, the city led the country in the value of total home sales, the number of units sold and number of listings, said Klump.
On Thursday, CREA released a report showing listings and sales approached or hit record levels across the country last month, as well as in the first quarter of 2010.
Read the full article here.
Toronto`s real estate market reported a massive surge in listing and sales activity in March, as more consumers rushed to purchase homes before interest rates take an expected hike in the next few months.
"Toronto has certainly helped to turbocharge the first-quarter numbers for Ontario," said Canadian Real Estate Association chief economist Gregory Klump.
"The market is extremely hot.
"The talk has been that interest rates are going to rise and as a result buyers are getting into the market sooner rather than later."
In March, the city led the country in the value of total home sales, the number of units sold and number of listings, said Klump.
On Thursday, CREA released a report showing listings and sales approached or hit record levels across the country last month, as well as in the first quarter of 2010.
Read the full article here.
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Driveway spats bedevil city`s neighbourhoods
For 85 years, Dorothy Folkes has shared a 2.5-metre driveway with her next-door neighbour "without a speck of a problem."
She says there`s nothing to it: act neighbourly.
"Our only issue is they may be pulling in as we`re pulling out."
If only all driveway spats were that simple.
On Wednesday, the Star profiled the protracted neighbourhood battle between the Perkovics and Roslins on Glenlake Ave., north of High Park.
The Perkovics had used a shared driveway next to their home from 1977 until last November, when Valentina and Victor Roslin moved next door and argued their survey showed the driveway was theirs alone and the Perkovics had no registered right-of-way.
Car-blocking, calls to police and angry letters followed.
Read the full article here.
For 85 years, Dorothy Folkes has shared a 2.5-metre driveway with her next-door neighbour "without a speck of a problem."
She says there`s nothing to it: act neighbourly.
"Our only issue is they may be pulling in as we`re pulling out."
If only all driveway spats were that simple.
On Wednesday, the Star profiled the protracted neighbourhood battle between the Perkovics and Roslins on Glenlake Ave., north of High Park.
The Perkovics had used a shared driveway next to their home from 1977 until last November, when Valentina and Victor Roslin moved next door and argued their survey showed the driveway was theirs alone and the Perkovics had no registered right-of-way.
Car-blocking, calls to police and angry letters followed.
Read the full article here.
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Free Metropasses latest condo perk
Add free public transit to the granite counters and stainless-steel appliances on the list of amenities attracting buyers to Toronto`s hot condo market.
Under a new city policy, condo developers will have to include a year`s supply of Metropasses in each new unit they sell.
"This is the carrot that will get people onto public transit," said Councillor Howard Moscoe (Eglinton-Lawrence), a former TTC chair, who introduced the policy approved by council in November.
But just like spa tubs and lakeside views, the cost of the passes will be reflected in the price of the condo, according to developers.
The rule will apply to development applications made after April 28 on buildings with at least 20 units in the downtown and central waterfront areas, city centres in Scarborough, North York and Etobicoke, and avenues defined by the official plan, including the arteries slated for the Transit City light rail plan.
Read the full article here.
Add free public transit to the granite counters and stainless-steel appliances on the list of amenities attracting buyers to Toronto`s hot condo market.
Under a new city policy, condo developers will have to include a year`s supply of Metropasses in each new unit they sell.
"This is the carrot that will get people onto public transit," said Councillor Howard Moscoe (Eglinton-Lawrence), a former TTC chair, who introduced the policy approved by council in November.
But just like spa tubs and lakeside views, the cost of the passes will be reflected in the price of the condo, according to developers.
The rule will apply to development applications made after April 28 on buildings with at least 20 units in the downtown and central waterfront areas, city centres in Scarborough, North York and Etobicoke, and avenues defined by the official plan, including the arteries slated for the Transit City light rail plan.
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Where first-time home buyers are finding bargains
For several years, Tanya Davio, 29, lived with her parents in Pickering, saving a down payment towards a home of her own. But when she decided to take the plunge earlier this year, there was a problem.
"I would ask to see a house the day it came on the market, then wouldn`t even get a chance to look at it because it would sell within a day," she says.
That doesn`t surprise Shaun Hildebrand, a senior analyst with the Canada Mortgage and Housing Corp. He says Pickering had a high percentage of first-time home buyers in 2009.
The very hottest areas for first-timers — with prices below the GTA average of $440,000 ($477,000 in the city; $408,000 in the 905 area) — were southwest and east Scarborough, downtown Toronto, Bayview Village, south Etobicoke, Milton, Willowdale West and Newmarket.
Read the full article here.
For several years, Tanya Davio, 29, lived with her parents in Pickering, saving a down payment towards a home of her own. But when she decided to take the plunge earlier this year, there was a problem.
"I would ask to see a house the day it came on the market, then wouldn`t even get a chance to look at it because it would sell within a day," she says.
That doesn`t surprise Shaun Hildebrand, a senior analyst with the Canada Mortgage and Housing Corp. He says Pickering had a high percentage of first-time home buyers in 2009.
The very hottest areas for first-timers — with prices below the GTA average of $440,000 ($477,000 in the city; $408,000 in the 905 area) — were southwest and east Scarborough, downtown Toronto, Bayview Village, south Etobicoke, Milton, Willowdale West and Newmarket.
Read the full article here.