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Wednesday , 29 March 2017

Monthly Archives: March 2014

Dead malls and green buildings: the future of real estate?

Predictions always have to be taken with a grain of salt. Remember how the president of Digital Equipment Corp. said, back in 1977, “There is no reason anyone would want a computer in their home”? No matter how you look at it, this one has to count as a “miss.” But experts still make them, and there’s entertainment value in a prediction, if nothing else. On the subject of commercial real estate, pundits and professional players have a lot to say. For one thing, shopping malls will be “extinct,” or most of them. There have been no new malls built in the US since 2006, it turns out, and it ... Read More »

World real estate booming, Canada doing fine: report

Why do analysts devote so much time to real estate? Because, in a word, it is important. In Canada and the United States, the residential real estate industry, including housing services and consumer investment, accounts for about 17–19 per cent of GDP. This includes construction of single-family and multi-family homes, remodeling, production of manufactured homes (mobile homes), brokers’ fees and other financial and legal services, and insurance. Considering that Canada’s economy is worth more than $1 trillion, and the US economy about ten times that amount, it’s evident that housing in both countries is worth hundreds of billions of dollars each year. In short, it matters. So how are they ... Read More »

Crocodile expert headlining Toronto reptile expo

We don’t usually hear much about exotic pets like snakes and lizards until something goes wrong, usually something tragic like the death of a child or a pet. Just last week there was an item in the news about an Australian woman’s pet dog being devoured by a python, albeit a wild one. These kinds of things are not supposed to happen, and serious reptile fanciers no doubt hate it when they do. Anything that feeds a negative stereotype is bad for the cause. They are a somewhat rare breed, the true reptile lovers, and some are bona fide conservationists, doing their bit to protect other rare breeds, some of ... Read More »

First-time home buyers do have affordable options

It follows that when the price of something goes up, a buyer must have more money to pay for it. Unfortunately, it doesn’t follow that the buyer will in fact have the additional money required. One year ago, the average first-time home buyer in Canada thought that $300,000 would suffice to purchase a first home. Today, according to a Bank of Montreal look at first-time home buyers and their intentions, that average buyer believes he or she will need $316,000 to get into the real estate market. That’s an increase of almost 6 per cent. But is the average first-time buyer 6 per cent wealthier? In Toronto, the numbers are ... Read More »

Is it so terrible to have a mortgage when you retire?

Research in England shows that almost a third of mortgage holders in that country will still be paying off their mortgages after they retire. The research was done for a mortgage company, which reports that the situation is “worrying” because those retired mortgage holders will no longer have a regular salary coming in and will have to rely on whatever pensions and savings they have to pay the mortgage. It sounds like the mortgage company finds this “worrying” for reasons of its own. In Canada, even more of us (51 per cent) will be dragging that mortgage into retirement, according to a Bank of Montreal survey. But is it really ... Read More »

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