May 2015 Ontario Economic Fundamentals

Ally

Research Assistant
Registered
GM to end Chevy Camaro assembly in Oshawa - 1,000 jobs affected

On the same day General Motors announced plans to spend billions on its U.S. operations, the automaker said it would cut 1,000 jobs from its Oshawa assembly complex later this year.

The jobs will disappear along with production of the Chevy Camaro muscle car, which is moving to GM’s plant in Lansing, Mich. The last Camaro rolls off the line at Oshawa’s flex plant Nov. 20, the automaker said Thursday. Camaro is one of six vehicles assembled at GM’s flex and consolidated plants, which employ 3,700 hourly workers.

Read the full article here.
 

Ally

Research Assistant
Registered
Couple on OW, ODSP can't afford average rent in Hamilton

Rent in Hamilton costs more than the social safety net is willing to cover for housing, but is still nearly $300 cheaper compared to Toronto.

Numbers from the Ontario Non-Profit Housing Association (ONPHA) show the cost of rent in Hamilton is an average of $792 for a one-bedroom apartment. In context, that price is more than the $753 per month a couple would receive for housing from the Ontario Disability Support Program (ODSP), or the $602 housing allowance a couple would receive for welfare (Ontario Works, OW).

Read the full article here.
 

Ally

Research Assistant
Registered
Barrie mayor expects answer this spring about university campus

The word on a new Barrie university campus is close.

Mayor Jeff Lehman said Thursday morning he's expecting an answer from the Ontario government soon.

“I'm told we will he hearing this spring,” said Lehman at the Mayor's Progress Breakfast, held at Liberty North on Caplan Avenue in the south end.

Read the full article here.
 

Ally

Research Assistant
Registered
Barrie part of bigger 'engine': Economist

Barrie is an important gear in the Ontario engine expected to drive Canada's economy in the coming years, a city business audience heard Thursday morning.

Both Warren Jestin, Scotiabank's chief economist, and Barrie Mayor Jeff Lehman told a Liberty North crowd that the landscape is changing again and business needs to be ready to adapt.

Read the full article here.
 

Ally

Research Assistant
Registered
5 things Hamilton wanted ready for the Pan Am games

you believe 2015 Pan Am Games organizers, eyes from around the world will be on Hamilton as the city hosts the soccer games July 10 to 27.

The city has done road work and beautification around Tim Horton's Field stadium. There are plans to put art installations in vacant storefronts along Barton Street. There have been public meetings, and transportation plans, and celebrations organized. For the last year, conversations around the city council table about any given topic have included the impact on the Pan Am Games.

Read the full article here.
 

Ally

Research Assistant
Registered
GTA REALTORS release monthly housing resale figures

TORONTO, May 5, 2015 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 11,303 sales in April 2015. This was the highest sales result on record for the month of April and represented a 17 per cent increase in comparison to April 2014. While sales increased strongly on a year-over-year basis, new listings were up over the same period by a more moderate five per cent.

“The record April result clearly points to the fact that a growing number of GTA households view ownership housing as a high quality long-term investment. This is evidenced by the strong sales growth we have experienced in Toronto and surrounding regions for all major home types. First-time buyers and existing homeowners remain very active in today’s market,” said Mr. Etherington.

Read the full article here.
 

Ally

Research Assistant
Registered
Gardiner Expressway removal has economic benefits, report says

Torontonians would get more economic benefit from a full tear-down of the elevated east end of the Gardiner Expressway than from the pricier partial removal favoured by many council members, says a draft economic evaluation.

The study, expected to be released in final form Wednesday and obtained by Torstar on Tuesday, suggests the full removal’s economic cost in terms of increased commute times for some motorists is outweighed by its greater development and job-creation opportunities.

Read the full article here.
 

Ally

Research Assistant
Registered
Refinery debated in Sarnia

Economists Jim Stanford with Unifor and Andrew Leach with the University of Alberta had opposing views on a potential bitumen refinery being proposed in Sarnia-Lambton.

The two squared off at the two-day “Big Debate” that continues today at the Holiday Inn in Pt.Edward.

Read the full article here.
 

Ally

Research Assistant
Registered
Landlord licensing: A solution to Toronto's landlording woes?

There’s a reason the civil service regulates the private sector: they’re supposed to keep the public from getting screwed over.

At least, that’s the idea. And, for better or worse, we need the help. Sometimes it’s difficult to tell the difference between a legitimate and illegitimate trade professional, and that makes it easy to pay good money for a bad job. If we had to check everyone’s qualifications ourselves, we’d never have time to do anything, so we rely on government services and checks and balances to filter out the quacks and cons.

Read the full article here.
 

Ally

Research Assistant
Registered
Ontario house prices may be 25% overvalued due to condo threat

Average house prices across Ontario could be overvalued by as much as 25 per cent in part because of an oversupply of condominiums in Toronto, ratings agency Fitch warned Wednesday.

According to Fitch, a glut of condos could be a threat to the economy and a drag on future price gains. There are currently 80,000 condominiums being built in the province, the vast majority concentrated in downtown Toronto.

Read the full article here.
 

Ally

Research Assistant
Registered
April 2015 housing starts in Barrie

TORONTO, ONTARIO--(Marketwired - May 8, 2015) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 875 units in April, down from 1160 in March according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)(1) of housing starts.

"Housing starts continued to trend down in April. The trend in singles starts increased somewhat, but this was more than offset by declines for other dwelling types. The growth of population and employment continued to support housing demand in the CMA, "said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.

Read the full article here.
 

Ally

Research Assistant
Registered
Pullback in Toronto condo building not enough to stop plunging prices, warns Fitch

Ontario’s condominium prices may decline as much as 10 per cent over the next few years as a record number of units under construction saturate the market, according to Fitch Ratings Inc.

Read the full article here.
 

Ally

Research Assistant
Registered
Make way for mid-rise

The Greater Toronto Area is growing rapidly, and that growth needs to be accommodated while also protecting the region’s greenbelt, farmland and drinking water — not to mention providing homes with reasonable commuting times.

Read the full article here.
 

Colin Forrest

Investing with Integrity
Registered
Barrie part of bigger 'engine': Economist

Barrie is an important gear in the Ontario engine expected to drive Canada's economy in the coming years, a city business audience heard Thursday morning.

Both Warren Jestin, Scotiabank's chief economist, and Barrie Mayor Jeff Lehman told a Liberty North crowd that the landscape is changing again and business needs to be ready to adapt.

Read the full article here.
I was wondering if I could get the full article or is this it?
 

Ally

Research Assistant
Registered
I was wondering if I could get the full article or is this it?
Hi Colina,

If you click the "Here" in the "Read the full article here," it will take you to the full article. We are making some changes over the next few days that will make these hyperlinks more visible.
 

Ally

Research Assistant
Registered
What 15 minute GO service might mean for your house price

During a visit to London some years ago, it was hard not to be jealous after reading a story about the expansion of high-speed rail service between London and the Continent.

Track and terminal upgrades at St. Pancras Station meant the Eurostar trip between London and Calais was down to 54 minutes. Real estate prices were on the rise in Normandy, as English buyers figured they could buy cheap properties, live a rural French lifestyle and commute to jobs in London. What a way to go.


Read the full article here.
 

Ally

Research Assistant
Registered
Real estate projections for Ontario in relation to Alberta and the U.S.

Last week, I sat down with Don Campbel, Founder and Senior Analyst at the Real Estate Investment Network, to ask him some pressing questions relating to real estate projections in Ontario with relation to Alberta and the US. Don provided very interesting insights — you can read the exchange below.

Read the full article here.
 

Ally

Research Assistant
Registered
Bombardier plans to eliminate 1,750 jobs, including 480 in Toronto

MONTREAL -- Bombardier, one of the world's biggest manufacturers of planes and trains, said Thursday it will cut about 1,750 employees in Montreal, Toronto and Ireland over the coming months because of weak demand for its largest business jets.

Up to 1,000 of the lost jobs will be in Montreal, where Bombardier has its main operations, while 480 positions will be eliminated in Toronto and another 280 in Belfast.

Read the full article here.
 

Ally

Research Assistant
Registered
Which neighbourhoods in Hamilton are worth a closer look?

In late spring, the Real Estate Investment Network, Canada’s top real estate research organization, delivered a report that put smiles on the faces of many locals. Entitled Top Ontario Investment Towns 2011-2015, the report analyzed hundreds of cities and towns and pegged Hamilton as the top city for real estate investment opportunities. (The scoring was an upgrade from a similar fi ve-year ranking in 2009, when Hamilton took second spot behind K/W and Cambridge’s Technology Triangle.) But where to buy? We looked to Aaron Segaert, a selftaught photographer and longtime civic booster, for some thoughtful direction.

While Segaert was holed up at McMaster, laying the groundwork for a doctorate in sociology, he was also making a name for himself in another community. That name, Flar, was an online identity that is, elsewhere, an acronym for “fl ash-augmented reality” – linguistic kismet that hinted at a passion for photography, specifi cally targeted toward the urban landscape. From 2005 until he moved to Ottawa in 2009, he explored a city so often scorned, capturing the character and contrasts of Hamilton and its many neighbourhoods. His work presented the city’s familiar riches to city lovers from around the world. The enthusiastic response ignited some urban crushes and demonstrated that Hamilton is a well-kept secret even among those who think they know it well. And it confi rmed what many who’ve fallen for Hamilton know too well: Although it may invite comparisons, this is a place unlike any other.

Read the full article here.
 
Top