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Saturday , 25 March 2017

Monthly Archives: November 2013

Home affordability slipping but market on track: RBC

A new flurry of reports and forecasts has put the focus on Canada’s economy again, and in general the outlook is positive. The economy will grow a little faster next year, though there isn’t exact agreement on the numbers—somewhere around 2.5 per cent, according to the Conference Board of Canada, the International Monetary Fund (IMF) and the Organization for Economic Cooperation and Development (OECD). Each of the forecasts ties Canada’s prospects to its trade with the United States. Renewed vigour in our economy will be spurred by exports to the US as that country’s economy continues to improve. But another report, this one from the Royal Bank of Canada, raises ... Read More »

Hope for gridlock relief in government infrastructure plan?

Infrastructure is like health; people tend not t0 think about it much until something goes wrong. And there is plenty wrong with the state of infrastructure in Toronto, despite the province’s having spent more than $85 billion on roads, bridges and the like since 2003. In Toronto, with thousands of kilometres of streets, transit lines, sewers, water mains, and hundreds of bridges and public buildings, 50 per cent of the current capital budget of $15.26 billion is devoted to infrastructure. Transit alone consumes 50 per cent of that, including the Spadina subway extension. Severe gridlock and congestion in the Greater Toronto and Hamilton Area is estimated to cost $6 billion ... Read More »

Builder’s reputation should be top requirement for condo buyers

A documentary called The Condo Game aired on CBC television the other night. The film takes a critical look at some of the problems that the condo boom in Toronto and Vancouver has brought for buyers. Poor construction of buildings, and purchasers’ disappointment with the home they ended up with (as opposed to the home they thought they were buying) were two of the biggest problems. Unfinished balconies, doors that don’t close properly, suite designs that don’t match the plans the customer bought in the show room: these and other problems are presented, and you have to sympathize with the buyers. It must be terrible to spend all that money only ... Read More »

Land transfer tax likely to stay as Toronto debates budget

Today is budget day at City Hall, so it is timely that the Toronto Real Estate Board should issue another demand for the removal of its favourite irritant, the Municipal Land Transfer Tax. TREB says that a “strong majority” of Torontonians (69 per cent) support a phase-out of the tax. That percentage has grown by four points since last May. TREB has been crusading against the tax since it was introduced back in 2006. The realtors’ main ground for opposing it is that it will keep people from buying homes in the city. That this has not happened does not deter TREB: in its polling of the people, the people ... Read More »

Toronto named world’s most youth-friendly city

Here’s another feather in Toronto’s cap: the city has been declared Youthful City of the Year 2014. It’s a new idea—Toronto is the first city to earn the designation—to look at cities in terms of their ability to “attract and empower” young people, defined as those 15–29 years old. Toronto beat out Berlin and New York and twenty-two other world cities for the top honour. The cities in contention were ranked according to 80 different measures pertaining to business, lifestyle and entertainment. The announcement of Toronto’s win notes that it scored high for diversity, high levels of youth employment, digital accessibility, high standards of living, good nightlife, film and music. ... Read More »

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