August 2014 Ontario Economic Fundamentals
- Thread starter Ally
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New rent monster in Toronto
There is a new corporate landlord in Toronto, and experts say the city has never seen anything like it.
Akelius, a Swedish-owned company, says it`s offering a new style of modern rental living. But tenant advocates are warning that its aggressive pursuit of higher rents is threatening to distort the city`s already unaffordable housing market ` and push lower-income residents out of their communities.
Read the full article here.
There is a new corporate landlord in Toronto, and experts say the city has never seen anything like it.
Akelius, a Swedish-owned company, says it`s offering a new style of modern rental living. But tenant advocates are warning that its aggressive pursuit of higher rents is threatening to distort the city`s already unaffordable housing market ` and push lower-income residents out of their communities.
Read the full article here.
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Sudbury lagging in business attraction
Sudbury is lagging behind other northeastern Ontario cities when it comes to attracting new business in the mining supply and services sector, said the executive director of the Sudbury Area Mining Supply and Service Association.
Dick DeStefano said the City of North Bay, in particular, has done more to attract small and medium sized mining businesses through tax incentives and new municipal industrial parks.
Read the full article here.
Sudbury is lagging behind other northeastern Ontario cities when it comes to attracting new business in the mining supply and services sector, said the executive director of the Sudbury Area Mining Supply and Service Association.
Dick DeStefano said the City of North Bay, in particular, has done more to attract small and medium sized mining businesses through tax incentives and new municipal industrial parks.
Read the full article here.
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Hamilton leads yearly housing price increase
The Canadian Real Estate Association says home sales in June rose to their best pace since March 2010 ` and Hamilton led the increase.
The association says sales through its Multiple Listings Service were up 0.8 per cent from May. The increase came as sales were up in about half of the markets tracked last month with the Vancouver region and Montreal leading the way.
Read the full article here.
The Canadian Real Estate Association says home sales in June rose to their best pace since March 2010 ` and Hamilton led the increase.
The association says sales through its Multiple Listings Service were up 0.8 per cent from May. The increase came as sales were up in about half of the markets tracked last month with the Vancouver region and Montreal leading the way.
Read the full article here.
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U.S. stats bode well for London
After three months of solid job growth, London looks ready to continue its streak, two top Canadian economists predict.
The optimism about the July job numbers, which will be released by Statistics Canada Friday, is based on solid economic numbers from the U.S. this week, despite the week`s meltdown on world stock markets.
Read the full article here.
After three months of solid job growth, London looks ready to continue its streak, two top Canadian economists predict.
The optimism about the July job numbers, which will be released by Statistics Canada Friday, is based on solid economic numbers from the U.S. this week, despite the week`s meltdown on world stock markets.
Read the full article here.
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Ontario universities' economic impact
Toronto, August 07, 2014 - Ontario`s publicly funded universities have successfully negotiated a series of mandate agreements with the province, demonstrating the distinctive opportunities they offer students, the breadth of their research and positive impact on society and the economy.
`Reading these agreements collectively, I am struck by the sheer breadth of opportunities Ontario universities make available to our students,` says Max Blouw, Chair of the Council of Ontario Universities (COU), and President of Wilfrid Laurier University.
Read the full article here.
Toronto, August 07, 2014 - Ontario`s publicly funded universities have successfully negotiated a series of mandate agreements with the province, demonstrating the distinctive opportunities they offer students, the breadth of their research and positive impact on society and the economy.
`Reading these agreements collectively, I am struck by the sheer breadth of opportunities Ontario universities make available to our students,` says Max Blouw, Chair of the Council of Ontario Universities (COU), and President of Wilfrid Laurier University.
Read the full article here.
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Condo sales, construction set records downtown
New condo sales in the GTA are up 33 per cent from last year.
So far this year, there have been 37 new highrise projects launched for sales across the region ` a total of 7,588 new condo units.
And demand for those new projects has been very strong, with 50 per cent of that new supply getting sold.
Read the full article here.
New condo sales in the GTA are up 33 per cent from last year.
So far this year, there have been 37 new highrise projects launched for sales across the region ` a total of 7,588 new condo units.
And demand for those new projects has been very strong, with 50 per cent of that new supply getting sold.
Read the full article here.
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Seller's form still troubling the real estate industry
The Seller Property Information Statement, a disclosure form created by the real estate industry, continues to cause grief for sellers, buyers ` and real estate agents.
Back in August, 2008, Daniel Fors bought a house in Thunder Bay from Vance and Dorothy Overacker for $392,000. Jack Mallon was the real estate agent for the sellers on the transaction.
Read the full article here.
The Seller Property Information Statement, a disclosure form created by the real estate industry, continues to cause grief for sellers, buyers ` and real estate agents.
Back in August, 2008, Daniel Fors bought a house in Thunder Bay from Vance and Dorothy Overacker for $392,000. Jack Mallon was the real estate agent for the sellers on the transaction.
Read the full article here.
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LRT means intensification, transformation in Waterloo core
WATERLOO ` Waterloo councillors will get a glimpse Monday of how light rail transit might transform the city landscape.
A report to council prepared by consultants and staff marks the first phase of the city's planning for development near light rail stations. Station areas are defined by Waterloo as being within 800 metres of stations.
Read the full article here.
WATERLOO ` Waterloo councillors will get a glimpse Monday of how light rail transit might transform the city landscape.
A report to council prepared by consultants and staff marks the first phase of the city's planning for development near light rail stations. Station areas are defined by Waterloo as being within 800 metres of stations.
Read the full article here.
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Home prices keep on rising in Toronto and will for the rest of the year, realtors say
The average price of an existing home in Toronto continues to rise and realtors say consumers can expect more of the same for the rest of 2014.
The Toronto Real Estate Board said prices across the Greater Toronto Area were up 7.5% from a year ago to an average of $550,700 in July.
Read the full article here.
The average price of an existing home in Toronto continues to rise and realtors say consumers can expect more of the same for the rest of 2014.
The Toronto Real Estate Board said prices across the Greater Toronto Area were up 7.5% from a year ago to an average of $550,700 in July.
Read the full article here.
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Ontario loses almost 30,000 full-time jobs in July
(Wellington-Halton Hills) ` Statistics Canada`s July jobs report shows Ontario lost 29,300 full time jobs last month.
`Clearly, Ontario`s unemployment rate continues to be unacceptably high and the loss of full time jobs last month is a serious concern,` Wellington-Halton Hills MPP Ted Arnott said.
Read the full article here.
(Wellington-Halton Hills) ` Statistics Canada`s July jobs report shows Ontario lost 29,300 full time jobs last month.
`Clearly, Ontario`s unemployment rate continues to be unacceptably high and the loss of full time jobs last month is a serious concern,` Wellington-Halton Hills MPP Ted Arnott said.
Read the full article here.
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Highway investments create jobs in the North
Northern Highways Program Improving Roads and Bridges, Creating Jobs
August 11, 2014 - Ministry of Northern Development and Mines
Ontario continues to expand and improve highways throughout Northern Ontario, making travel safer and more efficient for residents, visitors and industry while sustaining and creating more than 5,000 jobs annually.
Read the full article here.
Northern Highways Program Improving Roads and Bridges, Creating Jobs
August 11, 2014 - Ministry of Northern Development and Mines
Ontario continues to expand and improve highways throughout Northern Ontario, making travel safer and more efficient for residents, visitors and industry while sustaining and creating more than 5,000 jobs annually.
Read the full article here.
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Ontario housing market will remain balanced
TORONTO, ONTARIO--(Marketwired - Aug. 13, 2014) - Ontario housing activity will regain momentum through the course of 2014 before easing later in 2015, according to the Third Quarter 2014 CMHC Housing Market Outlook- Canada Edition released today. After declining in 2013, Ontario annual home starts will slow to 57,100 units in 2014 before stabilizing in 2015. Ontario starts will range between 50,900 and 63,300 units over the course of 2014 and 2015.
"An improving economy by 2015 and less out-migration to western Canada will provide support to the broader Ontario housing market. As home prices continue to rise, albeit at a more modest pace, demand will shift to less expensive housing both by type and geography," said Ted Tsiakopoulos, CMHC`s Ontario Regional Economist. "Consequently, we remain more bullish on the less expensive resale market and less expensive higher density housing sector.
Read the full article here.
TORONTO, ONTARIO--(Marketwired - Aug. 13, 2014) - Ontario housing activity will regain momentum through the course of 2014 before easing later in 2015, according to the Third Quarter 2014 CMHC Housing Market Outlook- Canada Edition released today. After declining in 2013, Ontario annual home starts will slow to 57,100 units in 2014 before stabilizing in 2015. Ontario starts will range between 50,900 and 63,300 units over the course of 2014 and 2015.
"An improving economy by 2015 and less out-migration to western Canada will provide support to the broader Ontario housing market. As home prices continue to rise, albeit at a more modest pace, demand will shift to less expensive housing both by type and geography," said Ted Tsiakopoulos, CMHC`s Ontario Regional Economist. "Consequently, we remain more bullish on the less expensive resale market and less expensive higher density housing sector.
Read the full article here.
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10-storey apartment going up on Guelph's west side
GUELPH`There's a massive hole in the ground and a massive construction crane hovering over it at the corner of Paisley and Elmira roads on Guelph's west side.
The framework of a 10-storey apartment building will gradually go up at the site, which is across from the Zehrs grocery store on Paisley and a block from the recently opened Costco Wholesale store on Elmira. Joylife Property Management LP is behind the project.
Read the full article here.
GUELPH`There's a massive hole in the ground and a massive construction crane hovering over it at the corner of Paisley and Elmira roads on Guelph's west side.
The framework of a 10-storey apartment building will gradually go up at the site, which is across from the Zehrs grocery store on Paisley and a block from the recently opened Costco Wholesale store on Elmira. Joylife Property Management LP is behind the project.
Read the full article here.
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Achtung, Ontario! Renewables are a money pit
Germany ` the country on which Ontario modelled its approach to renewable energy development ` has a $412-billion lesson for Ontario. That`s the amount the country has spent on subsidies in support of solar and wind energy, among other renewables, over the past 20 years, all in the push to wean the country off fossil fuel and nuclear generation.
On the surface ` and according to many news sites ` the program has been a success, and not just because of the 378,000 people renewables now employ.
Read the full article here.
Germany ` the country on which Ontario modelled its approach to renewable energy development ` has a $412-billion lesson for Ontario. That`s the amount the country has spent on subsidies in support of solar and wind energy, among other renewables, over the past 20 years, all in the push to wean the country off fossil fuel and nuclear generation.
On the surface ` and according to many news sites ` the program has been a success, and not just because of the 378,000 people renewables now employ.
Read the full article here.
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Greater Toronto realtors release resale housing mid-month market figures
TORONTO, ONTARIO`(Marketwired ` Aug. 18, 2014) ` Toronto Real Estate Board President Paul Etherington announced mid-month figures for August 2014 that point to continued strength in the GTA housing market. There were 3,504 sales reported through the TorontoMLS system during the first 14 days of August. This result was up by 7.6 per cent compared to the same period in August 2013.
`Sales were up strongly for all major home types across the GTA through the first two weeks of August. This means that many different types of buyers were active in the marketplace, including first-time buyers purchasing newly listed condominium apartments and existing homeowners changing their housing situation to meet their current needs,` said Mr. Etherington.
Read the full article here.
TORONTO, ONTARIO`(Marketwired ` Aug. 18, 2014) ` Toronto Real Estate Board President Paul Etherington announced mid-month figures for August 2014 that point to continued strength in the GTA housing market. There were 3,504 sales reported through the TorontoMLS system during the first 14 days of August. This result was up by 7.6 per cent compared to the same period in August 2013.
`Sales were up strongly for all major home types across the GTA through the first two weeks of August. This means that many different types of buyers were active in the marketplace, including first-time buyers purchasing newly listed condominium apartments and existing homeowners changing their housing situation to meet their current needs,` said Mr. Etherington.
Read the full article here.
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Home prices in red-hot Toronto race higher and higher
The real estate board for the country`s largest, and arguably hottest, housing market said Monday prices are up nearly 10 per cent again through the first two weeks of August compared to the same two-week stretch last year.
That sizable gain is well above where many experts saw home prices trending a year ago.
Read the full article here.
The real estate board for the country`s largest, and arguably hottest, housing market said Monday prices are up nearly 10 per cent again through the first two weeks of August compared to the same two-week stretch last year.
That sizable gain is well above where many experts saw home prices trending a year ago.
Read the full article here.
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Ontario's net debt rises faster than the rest of the country
TORONTO - Ontario`s net debt has soared by 89% since 2007-08 ` a rate faster than that of the federal government or any other province, a new Fraser Institute report says.
The government of Ontario added $126.7 billion to the net debt over that relatively small time period, the report says.
Read the full article here.
TORONTO - Ontario`s net debt has soared by 89% since 2007-08 ` a rate faster than that of the federal government or any other province, a new Fraser Institute report says.
The government of Ontario added $126.7 billion to the net debt over that relatively small time period, the report says.
Read the full article here.
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Wynne announces annual $100M investment in small towns
Calling roads and bridges the transit systems of small, rural and northern municipalities, Premier Kathleen Wynne has announced a $100-million annual infrastructure fund to put a dent in a much larger need.
The money, promised in her Liberal government`s budget passed in July, can also be used for waterworks and sewer upgrades in communities that have a population below 100,000 or are located in rural or northern Ontario.
Read the full article here.
Calling roads and bridges the transit systems of small, rural and northern municipalities, Premier Kathleen Wynne has announced a $100-million annual infrastructure fund to put a dent in a much larger need.
The money, promised in her Liberal government`s budget passed in July, can also be used for waterworks and sewer upgrades in communities that have a population below 100,000 or are located in rural or northern Ontario.
Read the full article here.