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ON Economic Fundamentals 2008-08

Canadian homes sales plunge 11 per cent

Canadian home sales last month plunged nearly 11 per cent from a year earlier and prices were down 3.6 per cent, said a report from the Canadian Real Estate Association yesterday, adding to evidence that the long-running domestic housing boom has ended.

"Canada`s housing market is running into some seriously foul weather amid the weakest affordability in nearly two decades," said BMO Capital Markets economist Douglas Porter. "While we still doubt that Canada will stage an instant replay of the trauma in U.S. markets, even a mild version would be bad news."

http://www.canada.com/ottawacitizen/news/b...ab-0cf5de0c6139
 
Confusion over water main location delays condo project

Confusion about the location of a major city water main has delayed construction on a condominium project near Westboro, infuriating the developer and one of the people who`d hoped to live there.

"Frankly, the city didn`t know where the water main was," said Doug Casey, president of Charlesfort Developments.

Excavation at the site of the Continental, a 15-storey, 95-unit building slated to go up at Richmond Road and Cleary Avenue, was delayed when it was discovered that the city`s water main lies one metre away from the property line, Mr. Casey said. Speaking with the Citizen yesterday, Mr. Casey and Charlesfort`s director of sales, Wendy Bennett, said the developer submitted plans to the city to apply for rezoning of the property and that rezoning had been approved in 2006.

http://www.canada.com/ottawacitizen/news/c...f3-704318cf2f74
 
Councillor Augimeri booed at meeting

Embattled city councillor Maria Augimeri faced angry residents last night at a meeting to address concerns about Sunday`s propane explosion.

Though about 800 residents at a North York banquet hall initially greeted her with mostly applause – and a few boos – the meeting later turned nasty with residents criticizing her for telling another resident Wednesday to "shut up."

http://www.thestar.com/News/GTA/article/478973
 
Propane plant neighbours voice worries

Questions about health and safety in the aftermath of last weekend`s propane explosion topped the list of concerns of residents who packed a community meeting at a North York church last night.

But some just wanted to vent about what happened early last Sunday, forcing 12,000 of them from their homes. Seven families remain unable to return.

"No person should ever go through the trauma this community has sustained," said one woman. She wanted to know what kind of help is available to children in the area "who can`t sleep at night because of nightmares."

http://www.thestar.com/News/GTA/article/478975
 
Eglinton LRT plan calls for partial burial

It`s not the new subway line that was once started and then cancelled, but proponents think a proposed partially buried light-rail line along Eglinton Avenue would be the next best thing.

In a series of public meetings over the next week, the Toronto Transit Commission is unveiling its plans to build a light-rail line between Kennedy subway station in the east to Martin Grove Road in the west, and possibly all the way to Pearson International Airport. It is part of the city`s $6-billion Transit City plan, announced in March, 2007, which also includes light-rail lines on Don Mills Road, Jane Street and Sheppard Avenue.

http://www.nationalpost.com/todays_paper/s....html?id=726065
 
PM`s visit to General `good news` for Hamilton

Prime Minister Stephen Harper is planning to visit Hamilton Tuesday to make a funding announcement.

The Spectator has learned the PM is to make the announcement with Industry Minister Jim Prentice and local MPs at Hamilton General Hospital.

The prime minister`s communications staff confirmed Harper would be visiting Hamilton Tuesday, but would not give details of what he will be doing, citing its practice of announcing his schedule only 24 hours in advance.

Several other sources confirmed they are making preparations for the hospital visit at 11 a.m.

http://www.thespec.com/News/Local/article/419075
 
Road projects rolling on, despite rain

The summer`s heavy rain doesn`t have Hamilton`s road construction behind schedule, but it does have contractors working overtime.

Gerry Davis, director of capital planning, said the city is still expecting its major construction projects, such as the Kenilworth Access, to be completed by fall.

Though the rainy days have pushed back some work, the crews have been able to focus on tasks beyond pouring concrete and pavement, he said.

http://www.thespec.com/News/Local/article/419039
 
Rules laid out for greenbelt expansion

Ontario has unveiled rules that will allow for the expansion of the greenbelt in the Golden Horseshoe and along the Niagara Escarpment.

This could help residents who are seeking to protect a parcel of environmentally sensitive land beside the new Eramosa Karst Conservation Area in Stoney Creek from development.

The property is owned by the Ontario Realty Corp. and open to residential development. The Public Infrastructure Renewal Ministry is reviewing the residents` appeal.

http://www.thespec.com/News/Local/article/419059
 
House gets a new home

WATERLOO REGION

A little bit of Waterloo headed to the countryside near Baden yesterday, mud and all.

A 1,200-square-foot bungalow at 322 Spruce St. was lifted off its foundation, loaded on a truck and slowly moved to a waiting foundation near Baden.

"It`s a lot of work -- a lot more than I thought it would be," said Howard Ellis, who owns the house.

He sold the land and two other houses to a developer planning a 22-storey apartment on the site near King Street and University Avenue.

http://news.therecord.com/News/Local/article/399124
 
Electrohome property goes to XCG for $10

KITCHENER

Ownership of the former Electrohome Ltd. property on Victoria Street North has been transferred to the company that has been working on its cleanup since 1990.

XCG Consultants of Oakville bought the two-acre property from Electrohome last week for $10. The property across from Locust Street is contaminated with the toxic solvent trichloroethylene from nearly 90 years of manufacturing on the site, said XCG partner Richard Rush.

Electrohome, which used to make phonographs on the site, needed to rid itself of the property because the 101-year-old former consumer electronics giant plans to dissolve itself this fall. XCG, meanwhile, is interested in taking ownership of property it is cleaning up, Rush said.

http://news.therecord.com/Business/article/399073
 
Soft Ontario housing market fuels concern

Ontario will likely follow major cities in Western Canada into a decline in house prices, and while its slide should be shallower it will be more worrisome due to the province`s weaker outlook, an economist says.

The average price of a resale home in Canada fell by 3.6 per cent last month, continuing a decline that started in June when prices lost ground for the first time in more than nine years, according to data released yesterday by the Canadian Real Estate Association (CREA).

So far, the drop in average home values has mainly radiated from Calgary and Edmonton, where July prices fell by 7.8 per cent and 5.3 per cent respectively from the previous year.

http://www.theglobeandmail.com/servlet/sto...PStory/Business
 
City delays hiring, curtails travel to cut budget deficit

City officials have asked department representatives to put off filling any vacant positions and curtail non-essential travel by employees as Hamilton wrestles with a $7.6-million deficit by the end of the year.

"We have not frozen anything," said Acting City Manager and Corporate Services Manager Joe Rinaldo. "We have asked city departments to have some discretion on non-essential positions."

Mr. Rinaldo said transportation, police and fire and emergency medical services will not be affected by the directive.

"Some departments have the flexibility," he said.

http://www.ancasternews.com/news/article/139468
 
Fire code infraction results in fine for highrise owner

A Burlington highrise owner has been fined for not providing the local fire department with timely proof of maintenance work on important safety features on the apartment building.

The owner of the building at 950 Warwick Ct. entered a guilty plea under the Ontario Fire Code for failing to provide written records of tests and corrective measures for two years after they are made, and failing to provide such records to a fire official upon request. A fine of $2,500, plus court fees and an automatic victim surcharge fee of $630, was levied against the owner.

http://www.burlingtonpost.com/news/article/199160
 
More car sharing for city

The Preston Towne Centre will be the next city area to have a designated CarShare parking spot.

Grand River CarShare, a non-profit co-operative that was previously called People`s Car, promotes the sharing of a vehicle among those who need it. How does it work? People reserve - online or by phone - a car for a certain period of time; the use of the car can be for as little as one hour, but there is no maximum time limit. There are per-kilometre fees, flat rates and people don`t need to have their own insurance. Monthly invoices are received by drivers.

With CarShare already having a designated parking space in the downtown Galt area of Cambridge, the city`s King Street parking lot in downtown Preston will now also host one of the vehicles.

http://www.cambridgetimes.ca/news/article/139333
 
Area-rating tax policy stays for next two years

Under a revised area-rating policy, some suburban councillors believe their residents could get a tax cut rather than see their taxes skyrocket. "Maybe I shouldn`t say this, but residents in my area could get a tax decrease," said Flamborough councillor Robert Pasuta.

Glanbrook councillor Dave Mitchell, who represents both urban and rural residents in his large ward 11 area agreed his rural homeowners could benefit from a revised area-rating policy.

But Mr. Mitchell was emphatic that a recommendation council agreed to last week did not mean the eventual elimination of area-rated services.

"It is not about getting rid of area rating," said Mr. Mitchell. "Area rating is not going anywhere."

http://www.dundasstarnews.com/news/article/139755
 
Expanded Greenbelt Now in Play

City hall needs to get the county on board if it wants to have the provincial greenbelt extended into south Guelph to help protect the city`s future water supply, says Mayor Karen Farbridge.

If the city wants to keep pushing for an expansion of the greenbelt into Guelph, "we need to engage the county to see what their appetite is in proceeding with a joint application" to the province, she said Thursday.

Farbridge was reacting to Wednesday`s provincial announcement of rules to allow for the expansion of the greenbelt, which now protects more than 7,200 square kilometres of agricultural and environmentally sensitive land in southern Ontario.

http://www.guelphtribune.ca/news/article/139833
 
Work on skateboard park set to start

The construction site at Turner Park on the south Mountain is expected to get busier next week as work on a new skateboard park is set to begin.

"We`re ready to go," said project manager Le` Ann Seely, who noted the initial stage of construction will involve a couple of weeks of underground drainage work.

She expects it will take at least three or four weeks before something is visible to the public.

The $500,000 project, which will include a children`s play area, is going in on a .45 hectares (1.1 acre) strip of land between the Division 3 police station and the new Mountain YMCA-library that is currently under construction on Rymal Road, just west of Upper Wentworth.

http://www.hamiltonmountainnews.com/news/article/139719
 
Mountain drivers slowed by two-way downtown streets

Over three years of two-way traffic along James Street South and John Street South, Mountain drivers are still bogged down in traffic congestion, says two Mountain councillors.

"Residents are frustrated going along James Street South and John Street to the Mountain during peak periods," said Ward 7 councillor Scott Duvall. "The (two-way conversion) is a failure."

Mr. Duvall said later residents are "confused" by the traffic patterns along James and John streets, especially when both roads intersect with St. Joseph`s Drive around the St. Joseph`s Heathcare facility.

James Street South merges into James Mountain Road, while John Street South becomes Arkledun Avenue then the Jolley Cut.

http://www.hamiltonmountainnews.com/news/article/139702
 
Wind test-tower constructed

A wind power test-tower has been constructed outside of St. Agatha to further study the feasibility of a wind farm in Wilmot.

Local Initiative for Future Energy Co-operative (LIFE), an energy co-op with about eighty members, constructed the tower on Aug. 1.

The tower will monitor and record wind conditions according to LIFE president Linda Laepple.

"It will allow us to complete wind feasibility studies," she said.

The group has some preliminary data from the area, but before towers can be constructed, LIFE needs much more data.

http://www.newhamburgindependent.ca/news/article/139273
 
Hodgson: transportation key to growth

Transit is an integral part of urban growth.

That`s the message Lincoln Mayor Bill Hodgson has continually tried to convey to the Region of Niagara, he told Lincoln planning committee members Aug. 12 as they discussed new options for growth throughout the region.

"I`ve tried to have the discussion around transit form the basis for discussions for where the intensive growth will occur," said Hodgson. "The whole growth management strategy is absolutely and directly tied to transit." The committee was presented with three growth options from the region, all of which would require inter-municipal transit, said Hodgson.

http://www.niagarathisweek.com/news/commun.../article/198827
 
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