January 2010
- Thread starter Ally
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Hot December brings out happy old year for Realtors
December is usually a quiet time for realtors, as clients focus on the holidays and brisk weather slows traffic at housing sites. But not last month.
For Tom Lebour, the contrast was remarkable. In December 2008, customers were virtually nonexistent. This past December he sold three homes before Christmas as some buyers took advantage of a slower month and less competition in the form of fewer multiple offers.
"The turnaround caught us completely off guard, but it was certainly a nice surprise," says the president of the Toronto Real Estate Board, who is also an agent with Royal LePage. "A year ago at this time we were pondering what to do – it was a much gloomier outlook."
December sales were up 115 per cent from the previous year. The robust figures helped existing home sales in the Toronto area eclipse the previous year by 17 per cent, making it the second best year ever recorded in the Toronto market.
A total of 87,308 homes sold last year, handily beating the 74,552 sales recorded in 2008, the board reported on Wednesday. This was second only to the peak of 93,193 set in 2007. That figure is all the more remarkable since economists at the start of the year had forecast a significant drop in sales for 2009. But a low-interest rate environment and better economic fundamentals in Canada helped the housing market steam roll to an unexpectedly strong finish. The average price of a home was also up by 4 per cent in 2009 to $395,460.
"I think what is really incredible is that most of those sales came in the last nine months of 2009," says Lebour. "That is a huge, astounding comeback."
Read the full article here.
December is usually a quiet time for realtors, as clients focus on the holidays and brisk weather slows traffic at housing sites. But not last month.
For Tom Lebour, the contrast was remarkable. In December 2008, customers were virtually nonexistent. This past December he sold three homes before Christmas as some buyers took advantage of a slower month and less competition in the form of fewer multiple offers.
"The turnaround caught us completely off guard, but it was certainly a nice surprise," says the president of the Toronto Real Estate Board, who is also an agent with Royal LePage. "A year ago at this time we were pondering what to do – it was a much gloomier outlook."
December sales were up 115 per cent from the previous year. The robust figures helped existing home sales in the Toronto area eclipse the previous year by 17 per cent, making it the second best year ever recorded in the Toronto market.
A total of 87,308 homes sold last year, handily beating the 74,552 sales recorded in 2008, the board reported on Wednesday. This was second only to the peak of 93,193 set in 2007. That figure is all the more remarkable since economists at the start of the year had forecast a significant drop in sales for 2009. But a low-interest rate environment and better economic fundamentals in Canada helped the housing market steam roll to an unexpectedly strong finish. The average price of a home was also up by 4 per cent in 2009 to $395,460.
"I think what is really incredible is that most of those sales came in the last nine months of 2009," says Lebour. "That is a huge, astounding comeback."
Read the full article here.
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Auto Executives say worst is over for Industry
WINDSOR, Ont. -- Global auto executives see the industry stabilizing over the next five years, although challenges such as high unemployment, overcapacity and tight credit will temper recovery of a sector coming off the worst economic downturn since the Great Depression, according to a survey released Thursday.
The survey of 200 executives representing vehicle manufacturers and suppliers was conducted by KPMG in September through early November 2009.
Profitability will remain a challenge, although more than a quarter of respondents expect vehicle manufacturer profits to increase, while 42 per cent expect profits to be stable and 36 per cent expect a decline.
When asked about the most important issues affecting the global auto industry over the next 12 months, 85 per cent of the respondents said developing new technologies, while 84 per cent pointed to developing new products and another 80 per cent said reducing costs.
Read the full article here.
WINDSOR, Ont. -- Global auto executives see the industry stabilizing over the next five years, although challenges such as high unemployment, overcapacity and tight credit will temper recovery of a sector coming off the worst economic downturn since the Great Depression, according to a survey released Thursday.
The survey of 200 executives representing vehicle manufacturers and suppliers was conducted by KPMG in September through early November 2009.
Profitability will remain a challenge, although more than a quarter of respondents expect vehicle manufacturer profits to increase, while 42 per cent expect profits to be stable and 36 per cent expect a decline.
When asked about the most important issues affecting the global auto industry over the next 12 months, 85 per cent of the respondents said developing new technologies, while 84 per cent pointed to developing new products and another 80 per cent said reducing costs.
Read the full article here.
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Rising Home Prices defy Market Outlook
Will home prices increase in 2010?
Analysts agree the Toronto market will be more subdued this year. But there is disagreement on whether prices will increase more than last year.
Defying economists` expectations and despite the recession, the average price of a home rose by 4 per cent in 2009 from the prior year. Prices have increased every year since 1996, a remarkable 13-year stretch of appreciation.
In an outlook released Thursday, Royal LePage Real Estate Services is forecasting that prices will increase another 5 per cent in the Toronto market this year, topping last year`s gain.
The average price of a home ended 2009 at $395,460, so a 5 per cent increase would boost the average to $415,233.
But other observers aren`t so sure. Toronto housing analyst Will Dunning`s December forecast calls for prices to fall to $389,000 this year.
"My forecast suggests that in the coming months sales will slow, listings will expand and some of the recent price gains will be reversed." Dunning says he expects to revisit the forecast later this month, but prices will still likely fall.
"The forecast expects that sales trends in the new and resale markets will soon weaken."
Read the full article here.
Will home prices increase in 2010?
Analysts agree the Toronto market will be more subdued this year. But there is disagreement on whether prices will increase more than last year.
Defying economists` expectations and despite the recession, the average price of a home rose by 4 per cent in 2009 from the prior year. Prices have increased every year since 1996, a remarkable 13-year stretch of appreciation.
In an outlook released Thursday, Royal LePage Real Estate Services is forecasting that prices will increase another 5 per cent in the Toronto market this year, topping last year`s gain.
The average price of a home ended 2009 at $395,460, so a 5 per cent increase would boost the average to $415,233.
But other observers aren`t so sure. Toronto housing analyst Will Dunning`s December forecast calls for prices to fall to $389,000 this year.
"My forecast suggests that in the coming months sales will slow, listings will expand and some of the recent price gains will be reversed." Dunning says he expects to revisit the forecast later this month, but prices will still likely fall.
"The forecast expects that sales trends in the new and resale markets will soon weaken."
Read the full article here.
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2009 see big jump in assistance
A relentless recession saw Ontario welfare cases swell in 2009.
Social assistance numbers jumped by more than 63,000 cases to 365,300 people, a 20% increase from 2008.
Simcoe County had its own case spike this past year, with a whopping 40.7% increase from September 2008 to September 2009.
"We`ve had a significant increase in (welfare) caseloads," said Terry Talon, the county`s general manager of social services, noting that the recession is mostly to blame.
"It could be these people are waiting for employment insurance to kick in, or they don`t qualify for EI," she said.
Although the county`s caseloads were higher, Talon said its numbers are still better than the province`s.
"We looked at our percentage of people on Ontario Works, and ours is 1.398%," she said.
That`s still significantly lower than the provincial case average of 1.8%
The Ministry of Community and Social Services said although the 365,319 welfare cases in the province seems like a lot, it still falls short of the 1.3 million Ontarians on the dole during the recession of the early 1990s.
Talon said the county`s high increase is still alarming, and there are programs in place to help provide financial aid and a way off welfare for struggling residents.
Read the full article here.
A relentless recession saw Ontario welfare cases swell in 2009.
Social assistance numbers jumped by more than 63,000 cases to 365,300 people, a 20% increase from 2008.
Simcoe County had its own case spike this past year, with a whopping 40.7% increase from September 2008 to September 2009.
"We`ve had a significant increase in (welfare) caseloads," said Terry Talon, the county`s general manager of social services, noting that the recession is mostly to blame.
"It could be these people are waiting for employment insurance to kick in, or they don`t qualify for EI," she said.
Although the county`s caseloads were higher, Talon said its numbers are still better than the province`s.
"We looked at our percentage of people on Ontario Works, and ours is 1.398%," she said.
That`s still significantly lower than the provincial case average of 1.8%
The Ministry of Community and Social Services said although the 365,319 welfare cases in the province seems like a lot, it still falls short of the 1.3 million Ontarians on the dole during the recession of the early 1990s.
Talon said the county`s high increase is still alarming, and there are programs in place to help provide financial aid and a way off welfare for struggling residents.
Read the full article here.
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2010 will be a strong non-residential development year in Okotoks
Although the local economy had its ups and downs in 2009 as a result of the global economy, 2009 in Okotoks proved there will be stronger growth to follow this year in 2010. Commercial and industrial business development will be robust this year in Okotoks with the advent of new small, medium and large commercial and industrial businesses calling Okotoks home. By the end of 2009, there were over 1,500 active businesses in Okotoks and a new milestone of 540 home based businesses, the largest number in Okotoks history. Only early into January there are already numerous projects coming forward for Development Permit approvals over the next few months.
Some of the projects include additions and exterior retrofits to buildings in the downtown core of Olde Towne Okotoks including new commercial and retail business additions to the downtown, as well as construction activity and grand openings expected in the Southbank Business Park to accommodate such retailers as Costco, Winners, Chatters, Bulk Barn, West 49, Dollarama, The Brick, & Michaels Arts & Crafts all contributing in bringing more people and trade area from Calgary and region for the benefit of the entire Okotoks business community. The Southbank Business Park commercial gateway area is expected to create 500 direct employment opportunities and hundreds more indirect employment opportunities.
Nurturing economic vitality by facilitating a robust and diverse tax assessment base will lead to greater employment opportunities for Okotoks residents. Facilitating these relationships and working with both existing and new business prospects on business retention & expansion initiatives is an important aspect of the Economic Development mandate. According to Shane Olson, Economic Development Team Leader with the Town of Okotoks, "the non-residential assessment in Okotoks represents 13% of the total assessment base and we will see upward signs of growth for that figure into 2010".
Download the full report below.
Although the local economy had its ups and downs in 2009 as a result of the global economy, 2009 in Okotoks proved there will be stronger growth to follow this year in 2010. Commercial and industrial business development will be robust this year in Okotoks with the advent of new small, medium and large commercial and industrial businesses calling Okotoks home. By the end of 2009, there were over 1,500 active businesses in Okotoks and a new milestone of 540 home based businesses, the largest number in Okotoks history. Only early into January there are already numerous projects coming forward for Development Permit approvals over the next few months.
Some of the projects include additions and exterior retrofits to buildings in the downtown core of Olde Towne Okotoks including new commercial and retail business additions to the downtown, as well as construction activity and grand openings expected in the Southbank Business Park to accommodate such retailers as Costco, Winners, Chatters, Bulk Barn, West 49, Dollarama, The Brick, & Michaels Arts & Crafts all contributing in bringing more people and trade area from Calgary and region for the benefit of the entire Okotoks business community. The Southbank Business Park commercial gateway area is expected to create 500 direct employment opportunities and hundreds more indirect employment opportunities.
Nurturing economic vitality by facilitating a robust and diverse tax assessment base will lead to greater employment opportunities for Okotoks residents. Facilitating these relationships and working with both existing and new business prospects on business retention & expansion initiatives is an important aspect of the Economic Development mandate. According to Shane Olson, Economic Development Team Leader with the Town of Okotoks, "the non-residential assessment in Okotoks represents 13% of the total assessment base and we will see upward signs of growth for that figure into 2010".
Download the full report below.
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Orillia 2009: the good, the bad, and the ugly
Orillia, you made it. And that`s quite a feat. The past year was racked with economic hardship, a wicked storm, deadly fire and politics that drifted from the sublime to the ridiculous.
In short, a look back at the Sunshine City in 2009 conjures up that oft-cited refrain: Only in Orillia.
Here is a chronicle of some of the most influential, tragic, frustrating, exquisite and down-right goofy newsmaking events of the past 12 months.
OLD BARN OUT WITH A BANG
The sudden closure of the Community Centre in January stands out as one of the most significant catastrophes of 2009.
Though very damaging politically, oddly enough, it crosschecked some momentum into the city recreation file, which had been stuck in a deep rut for years.
When the 59-year-old Brant Street barn was condemned due to suspect roof trusses, city politicians had to dodge more irate hockey parents than they could shake their collective stick at.
The Sunshine City`s sports crowd, blindsided by interrupted hockey and figure skating seasons, rolled in like a storm cloud to rain bullets over city council.
Years spent trying to prep the multi-use recreation facility (MURF) project for a highly contaminated brownfield on West Street South hadn`t produced the extra ice Orillians sought.
Read the full article here.
Orillia, you made it. And that`s quite a feat. The past year was racked with economic hardship, a wicked storm, deadly fire and politics that drifted from the sublime to the ridiculous.
In short, a look back at the Sunshine City in 2009 conjures up that oft-cited refrain: Only in Orillia.
Here is a chronicle of some of the most influential, tragic, frustrating, exquisite and down-right goofy newsmaking events of the past 12 months.
OLD BARN OUT WITH A BANG
The sudden closure of the Community Centre in January stands out as one of the most significant catastrophes of 2009.
Though very damaging politically, oddly enough, it crosschecked some momentum into the city recreation file, which had been stuck in a deep rut for years.
When the 59-year-old Brant Street barn was condemned due to suspect roof trusses, city politicians had to dodge more irate hockey parents than they could shake their collective stick at.
The Sunshine City`s sports crowd, blindsided by interrupted hockey and figure skating seasons, rolled in like a storm cloud to rain bullets over city council.
Years spent trying to prep the multi-use recreation facility (MURF) project for a highly contaminated brownfield on West Street South hadn`t produced the extra ice Orillians sought.
Read the full article here.
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FNX scores new find in Sudbury basin
The city of Sudbury, Ont., is getting some good news for a change.
The past 16 months have been about as bad as they could get for Sudbury, Canada`s nickel capital. First, there was the crash in nickel prices, which led mining companies to idle most of their Sudbury operations. Then came the strike by the workers of Vale Inco Ltd., which has lasted six months with no sign of a resolution.
But Tuesday there was a true positive -- a new discovery that could turn into the region`s next major mine.
FNX Mining Co. said it found significant nickel, copper and gold mineralization on its Victoria property in the Sudbury Basin. The discovery covers three separate zones and was made more than 2,000 feet underground.
"In this winter of discontent, the old Sudbury mining district still shows it has lots of life left in it," said Dave Constable, FNX`s vice-president of investor relations.
It took nearly a year of constant drilling before FNX was confident enough to announce the discovery, and the company expects to work another 12 to 18 months before deciding whether to go underground.
Read the full article here.
The city of Sudbury, Ont., is getting some good news for a change.
The past 16 months have been about as bad as they could get for Sudbury, Canada`s nickel capital. First, there was the crash in nickel prices, which led mining companies to idle most of their Sudbury operations. Then came the strike by the workers of Vale Inco Ltd., which has lasted six months with no sign of a resolution.
But Tuesday there was a true positive -- a new discovery that could turn into the region`s next major mine.
FNX Mining Co. said it found significant nickel, copper and gold mineralization on its Victoria property in the Sudbury Basin. The discovery covers three separate zones and was made more than 2,000 feet underground.
"In this winter of discontent, the old Sudbury mining district still shows it has lots of life left in it," said Dave Constable, FNX`s vice-president of investor relations.
It took nearly a year of constant drilling before FNX was confident enough to announce the discovery, and the company expects to work another 12 to 18 months before deciding whether to go underground.
Read the full article here.
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Big deficits, creaky health service: Something`s got to give
Even before the recession, provincial spending was on an unsustainable trajectory. Now revenues have fallen precipitously. Last month, former central bank governor David Dodge warned governments to get their fiscal houses in order.
"Budget season is coming up," he told The Globe and Mail in an interview. "If we don`t see a plan laid out ... there is a risk that markets will begin to lose confidence in what`s going on." Ontario in particular, he said, will have to experience serious fiscal retrenchment.
Current trends would see Ontario`s total debt balloon to more than $230-billion by 2011. Last fall, the province`s credit rating
was downgraded in response to a projected annual deficit of almost $25-billion. Credit downgrades increase the cost of borrowing, making the deficit grow even faster. And provincial planners had better not count on growth in tax revenue. Ontario`s industrial base is going through a challenging restructuring and renewal process that will continue for years to come.
Read the full article here.
Even before the recession, provincial spending was on an unsustainable trajectory. Now revenues have fallen precipitously. Last month, former central bank governor David Dodge warned governments to get their fiscal houses in order.
"Budget season is coming up," he told The Globe and Mail in an interview. "If we don`t see a plan laid out ... there is a risk that markets will begin to lose confidence in what`s going on." Ontario in particular, he said, will have to experience serious fiscal retrenchment.
Current trends would see Ontario`s total debt balloon to more than $230-billion by 2011. Last fall, the province`s credit rating
was downgraded in response to a projected annual deficit of almost $25-billion. Credit downgrades increase the cost of borrowing, making the deficit grow even faster. And provincial planners had better not count on growth in tax revenue. Ontario`s industrial base is going through a challenging restructuring and renewal process that will continue for years to come. Read the full article here.
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McGuinty heralds Samsung green energy deal
Premier Dalton McGuinty has signed a landmark agreement with a South Korean consortium that will see $7 billion invested in Ontario to create 16,000 new jobs over six years.
As first disclosed by the Star last fall, Samsung C and T and the Korea Electric Power Corporation will build wind turbines and other green energy equipment in Ontario.
That will mean four new factories and some 1,440 manufacturing jobs.
The South Koreans hope to generate 2,500 megawatts of wind and solar power and provide clean electricity to 580,000 households.
"Thanks to today`s announcement, we will be delivering more green energy for Ontarians to use — and more green energy products for North Americans to buy," McGuinty said Thursday.
Read the full article here.
Premier Dalton McGuinty has signed a landmark agreement with a South Korean consortium that will see $7 billion invested in Ontario to create 16,000 new jobs over six years.
As first disclosed by the Star last fall, Samsung C and T and the Korea Electric Power Corporation will build wind turbines and other green energy equipment in Ontario.
That will mean four new factories and some 1,440 manufacturing jobs.
The South Koreans hope to generate 2,500 megawatts of wind and solar power and provide clean electricity to 580,000 households.
"Thanks to today`s announcement, we will be delivering more green energy for Ontarians to use — and more green energy products for North Americans to buy," McGuinty said Thursday.
Read the full article here.
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GTA new home sales up 24 per cent in 2009
New home sales in the Greater Toronto area were up by 24 per cent in 2009 compared to a year earlier, according to figures released today.
The Building Industry and Land Development Association (BILD) stated 33,165 new homes and condos were sold in the GTA, compared to 27,153 in 2008.
Most of those sales were in the second half of the year when consumer confidence, sparked by low interest rates, returned to the market.
The solid figures were helped by a strong December, with 3,148 home sold, representing a more than five-fold increase over December of 2008.
The recovery was "kick started by builders slashing costs and margins on inventory and new product to the bone," said the association.
"It was propelled by an improving economy, increased consumer confidence and overall housing affordability."
Read the full article here.
New home sales in the Greater Toronto area were up by 24 per cent in 2009 compared to a year earlier, according to figures released today.
The Building Industry and Land Development Association (BILD) stated 33,165 new homes and condos were sold in the GTA, compared to 27,153 in 2008.
Most of those sales were in the second half of the year when consumer confidence, sparked by low interest rates, returned to the market.
The solid figures were helped by a strong December, with 3,148 home sold, representing a more than five-fold increase over December of 2008.
The recovery was "kick started by builders slashing costs and margins on inventory and new product to the bone," said the association.
"It was propelled by an improving economy, increased consumer confidence and overall housing affordability."
Read the full article here.
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Oshawa auto jobs have a price
Some union leaders have applauded new work coming to a vacant General Motors truck plant in Oshawa, but parts industry employees elsewhere in the area say it`s causing them misery because they will lose their jobs.
CEVA Logistics, which sorts and delivers parts to auto assembly lines, is close to signing an agreement with General Motors to create more than 110 jobs for laid-off GM workers by moving work from other locations in nearby communities.
However, the agreement between GM and the Canadian Auto Workers to reopen the idle truck plant for new work with much cheaper wages and benefits will trigger shutdowns of at least three other unionized plants in Ajax and Pickering.
CAW leaders initially said the deal had the potential to create hundreds of new jobs for laid-off GM workers in a "supplier park" inside the truck plant, but one senior official stressed that the intent was not to put other unionized employees out of work or jeopardize their futures.
"But it appears that is what has happened here," said Keith Osborne, a CAW staff representative.
At least three plants face shutdowns, including Ryder Logistics in Pickering where about 55 workers are also members of the CAW. CEVA, a multinational company based in the Netherlands, gained Ryder`s work from GM and is moving it into the truck plant.
Read the full article here.
Some union leaders have applauded new work coming to a vacant General Motors truck plant in Oshawa, but parts industry employees elsewhere in the area say it`s causing them misery because they will lose their jobs.
CEVA Logistics, which sorts and delivers parts to auto assembly lines, is close to signing an agreement with General Motors to create more than 110 jobs for laid-off GM workers by moving work from other locations in nearby communities.
However, the agreement between GM and the Canadian Auto Workers to reopen the idle truck plant for new work with much cheaper wages and benefits will trigger shutdowns of at least three other unionized plants in Ajax and Pickering.
CAW leaders initially said the deal had the potential to create hundreds of new jobs for laid-off GM workers in a "supplier park" inside the truck plant, but one senior official stressed that the intent was not to put other unionized employees out of work or jeopardize their futures.
"But it appears that is what has happened here," said Keith Osborne, a CAW staff representative.
At least three plants face shutdowns, including Ryder Logistics in Pickering where about 55 workers are also members of the CAW. CEVA, a multinational company based in the Netherlands, gained Ryder`s work from GM and is moving it into the truck plant.
Read the full article here.
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Fast start for 2010 Home sales
The Toronto real estate market had an exceptional start to 2010, paving the way for another strong quarter. Sales in the first two weeks of January were almost double those of the same period last year, according to figures released by the Toronto Real Estate Board on Monday.
The board reported there were 1,749 sales so far this year, up from 888 at the same time in 2009.
The board is expecting that the strength in sales and pricing will continue for the next few months.
"Double-digit average annual price growth will continue through the first quarter of 2010 as sales remain high relative to listings and we continue to make comparisons to last winter`s downturn," said Jason Mercer, senior manager of market analysis for the board.
Some analysts say comparing current figures to last year is a little misleading, since last January represented the bottom of the market when consumer confidence was at record low.
Read the full article here.
The Toronto real estate market had an exceptional start to 2010, paving the way for another strong quarter. Sales in the first two weeks of January were almost double those of the same period last year, according to figures released by the Toronto Real Estate Board on Monday.
The board reported there were 1,749 sales so far this year, up from 888 at the same time in 2009.
The board is expecting that the strength in sales and pricing will continue for the next few months.
"Double-digit average annual price growth will continue through the first quarter of 2010 as sales remain high relative to listings and we continue to make comparisons to last winter`s downturn," said Jason Mercer, senior manager of market analysis for the board.
Some analysts say comparing current figures to last year is a little misleading, since last January represented the bottom of the market when consumer confidence was at record low.
Read the full article here.
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Dupuis: Forecast for growth is cautiously optimistic
It`s that time of the year when everybody asks what the year ahead will bring from a housing market standpoint. After reviewing insider analyses and projections, I`m ready to offer my forecast.
In looking forward, it`s always worthwhile to take a backwards glance to see where we`ve been. The last quarter of 2008 and the first quarter of 2009 were pathetic – nobody wanted to buy a new home or condo.
In the second quarter of 2009, the lowrise suburban housing market started to come back and in the third quarter of last year the highrise condo market picked-up. We ended 2009 with positive momentum in both sectors.
While we`re still waiting on the last month of data for 2009, it`s a safe bet that total new home sales for the year will come in around 33,000 units, which is 20 per cent higher than 2008 sales. All of that increase came on the strength of the lowrise market, which was up by better than 50 per cent year over year, while condo sales ended up on par with 2008.
As good as all this sounds, sales of 28,000 units in 2008 and 33,000 units in 2009 are much lower than the average for the decade, which we can now calculate at approximately 45,000 units per annum.
Looking ahead, we begin the year with substantial market momentum, an improving economy, and the prospect of continued low-interest rates through at least the first half of 2010 and perhaps longer.
Read the full article here.
It`s that time of the year when everybody asks what the year ahead will bring from a housing market standpoint. After reviewing insider analyses and projections, I`m ready to offer my forecast.
In looking forward, it`s always worthwhile to take a backwards glance to see where we`ve been. The last quarter of 2008 and the first quarter of 2009 were pathetic – nobody wanted to buy a new home or condo.
In the second quarter of 2009, the lowrise suburban housing market started to come back and in the third quarter of last year the highrise condo market picked-up. We ended 2009 with positive momentum in both sectors.
While we`re still waiting on the last month of data for 2009, it`s a safe bet that total new home sales for the year will come in around 33,000 units, which is 20 per cent higher than 2008 sales. All of that increase came on the strength of the lowrise market, which was up by better than 50 per cent year over year, while condo sales ended up on par with 2008.
As good as all this sounds, sales of 28,000 units in 2008 and 33,000 units in 2009 are much lower than the average for the decade, which we can now calculate at approximately 45,000 units per annum.
Looking ahead, we begin the year with substantial market momentum, an improving economy, and the prospect of continued low-interest rates through at least the first half of 2010 and perhaps longer.
Read the full article here.
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Terence Corcoran: Ontario puts $10B in the wind
When government and industry talk about green energy, what they mean by green is the green stuff that will be going into the pockets of special corporate and government interests.
In a dramatic move yesterday, Ontario Premier Dalton McGuinty struck a green electricity deal -- allegedly the biggest of its kind in the world -- that will transmit a subsidy worth as much as $10-billion into the hands of a Korean state enterprise and corporate giant Samsung.
Green economics is a wonderful thing, except for consumers.
The subsidy means that over the next 25 years Ontario electricity users will pay 50% more for the wind and solar electricity produced under the Samsung deal than they would buying the same power from conventional sources. In return for the subsidy, the only thing the average consumer will receive is a warm and fuzzy feeling for having saved the planet from global warming.
Never mind that global warming may not be happening. Electricity consumers everywhere, but especially in Ontario, are often merely cash machines for scheming profiteers and politicians. Any excuse will do. If not global warming there`s always job creation, trade wars, subsidies, economic nationalism, local content rules, renewability claims -- and the usual ugly business of buying voters with their own money.
Read the full article here.
When government and industry talk about green energy, what they mean by green is the green stuff that will be going into the pockets of special corporate and government interests.
In a dramatic move yesterday, Ontario Premier Dalton McGuinty struck a green electricity deal -- allegedly the biggest of its kind in the world -- that will transmit a subsidy worth as much as $10-billion into the hands of a Korean state enterprise and corporate giant Samsung.
Green economics is a wonderful thing, except for consumers.
The subsidy means that over the next 25 years Ontario electricity users will pay 50% more for the wind and solar electricity produced under the Samsung deal than they would buying the same power from conventional sources. In return for the subsidy, the only thing the average consumer will receive is a warm and fuzzy feeling for having saved the planet from global warming.
Never mind that global warming may not be happening. Electricity consumers everywhere, but especially in Ontario, are often merely cash machines for scheming profiteers and politicians. Any excuse will do. If not global warming there`s always job creation, trade wars, subsidies, economic nationalism, local content rules, renewability claims -- and the usual ugly business of buying voters with their own money.
Read the full article here.
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- Joined
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Hamilton`s first By-Law Crawl
On Saturday, February 6, 2010 Hamilton will see its first By-Law Crawl, at 1:00 PM beside the remains of the Century Theatre.
Please be advised that the date and time of this event have been changed from the original time and date (Friday, Feb 5 at 7 PM).
Many people in our community are saddened to see another heritage building destroyed - demolition crews are dismantling the 97-year-old Century Theatre as I write this.
Multiple parties are to blame for this prime example of demolition by neglect, including the owners for not living up to their responsibilities as a property owner, and the City for not holding the owners to those responsibilities.
The public also has a role in this. By-law enforcement is complaint-based. We need to break the cycle of willful negligence and emergency demolition in this city. The only way for us to do that is by reporting property standards by-law infractions to the city when we see them.
It`s the only way we can stop the next building(s) from being torn down.
We don`t need any new by-laws passed to prevent this from happening. The city simply needs to enforce the by-laws we already have as they`re written. The public needs to ensure that enforcement happens.
Read the full article here.
On Saturday, February 6, 2010 Hamilton will see its first By-Law Crawl, at 1:00 PM beside the remains of the Century Theatre.
Please be advised that the date and time of this event have been changed from the original time and date (Friday, Feb 5 at 7 PM).
Many people in our community are saddened to see another heritage building destroyed - demolition crews are dismantling the 97-year-old Century Theatre as I write this.
Multiple parties are to blame for this prime example of demolition by neglect, including the owners for not living up to their responsibilities as a property owner, and the City for not holding the owners to those responsibilities.
The public also has a role in this. By-law enforcement is complaint-based. We need to break the cycle of willful negligence and emergency demolition in this city. The only way for us to do that is by reporting property standards by-law infractions to the city when we see them.
It`s the only way we can stop the next building(s) from being torn down.
We don`t need any new by-laws passed to prevent this from happening. The city simply needs to enforce the by-laws we already have as they`re written. The public needs to ensure that enforcement happens.
Read the full article here.
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- Mar 24, 2009
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Hume: Change is good at Yonge/Eglinton
Maybe it isn`t surprising Toronto has such problems dealing with its own success. The City of Neighbourhoods is full of people who stand on guard against change in all its forms. Often their vigilance is justified, but sometimes it`s simply obstructionist.
In either case, it means that even when things happen, they do so slowly and painfully.
But when an area such as Yonge and Eglinton has become as cosmopolitan as it is, you know that change can be a good thing, something we control but also encourage. Specifically, we`re talking about Yonge south of Eglinton, which wasn`t always what it is today.
The advent of the two residential towers on the east side of Yonge several years ago helped fill in a gap that in effect severed the street. That didn`t quell the anger of local residents who fought the project every step of the way.
At the same time, however, the old two- and three-storey buildings that line Yonge, Mount Pleasant and Bayview have been put to new uses over and over again.
Indeed, each generation remakes these modest but wonderfully flexible structures in its own image.
Read the full article here.
Maybe it isn`t surprising Toronto has such problems dealing with its own success. The City of Neighbourhoods is full of people who stand on guard against change in all its forms. Often their vigilance is justified, but sometimes it`s simply obstructionist.
In either case, it means that even when things happen, they do so slowly and painfully.
But when an area such as Yonge and Eglinton has become as cosmopolitan as it is, you know that change can be a good thing, something we control but also encourage. Specifically, we`re talking about Yonge south of Eglinton, which wasn`t always what it is today.
The advent of the two residential towers on the east side of Yonge several years ago helped fill in a gap that in effect severed the street. That didn`t quell the anger of local residents who fought the project every step of the way.
At the same time, however, the old two- and three-storey buildings that line Yonge, Mount Pleasant and Bayview have been put to new uses over and over again.
Indeed, each generation remakes these modest but wonderfully flexible structures in its own image.
Read the full article here.