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Sunday , 26 March 2017

Monthly Archives: September 2014

Quebec’s “disruptive” home builder to launch first Toronto project

He won’t make any friends in the home building industry, not with comments like this: “Our houses are dinosaurs. People are still building them the same way as we have been for 400 years. The cost keeps going up and the quality down.” But then, Marc Bovet has said that his goal is to disrupt the home building industry and to revolutionize housing around the world. As the founder of BONE Structure said in a Globe and Mail interview, “I like disrupting people. It goes with who we are—disruptive technology.” What is he talking about? His system of home building starts with a steel frame that allows it to be ... Read More »

Strong growth continues in September home sales

Home sales continued their upward climb in Toronto in the first half of September. The Toronto Real Estate Board reports that mid-month sales were 8.3 per cent higher than for the same period last year. In all, 3,297 sales were processed through the TorontoMLS system during the first 14 days of September. Year-to-date sales through September 14 reached 68,731, up by 6.6 per cent compared to the same period in 2013. Sales were up for all housing types across the GTA, but the strongest growth by far was in the condo segment, in the 905, which saw an increase of 26.2 per cent compared to a year ago. Sales of condos ... Read More »

New US standard requires greater energy efficiency in refrigerators

If you have been waiting to buy a new refrigerator, this could be a good time to act. The US Department of Energy has just implemented a new federal efficiency standard for refrigerators that will make them up to 25 per cent more energy efficient than the previous standard required. The new standard took effect on September 15. The year 2014 is the one hundredth anniversary of the first modern refrigerator. From the post-war period of the late 1940s until the energy crisis of the 1970s, the amount of energy consumed by refrigerators more than quadrupled, from 400 kilowatt hours to more than 1,800, according to the American Council for an ... Read More »

Rosy outlook for Ontario economy: CIBC

A couple of relatively optimistic reports from Canada’s big banks, one from RBC the other from CIBC, will likely give Ontario’s finance minister, Charles Sousa, reason to smile. The two brief reports call for “accelerated growth” (that’s RBC) and a “notable resurgence” (CIBC) in Ontario’s economy to continue into 2016. Of the two, CIBC’s report is markedly more sanguine about Ontario’s prospects, going as far as to forecast an additional $4–5 billion in revenues for the province in the next two years. Given a deficit of $12.5 billion and an apparently impossible promise to achieve a balanced budget by 2017, those extra billions couldn’t come at a better time, from ... Read More »

Banker says it’s up to Ottawa to control consumer debt

The household worth of the average Canadian grew 2.3 per cent in the second quarter of this year, mainly on the strength of household real estate. Canadians also did well by their shares and equities, life insurance policies and pension assets. On a per capita basis, according to Statistics Canada, household net worth rose to $227,000 in the second quarter. Unfortunately, household debt, including credit cards, mortgages and non-mortgage loans, also rose. At the end of the second quarter it stood at $1.79 trillion, of which $513 billion was consumer credit debt. Because debt growth outpaced the growth in disposable income, household “leverage” reached 163.3 per cent. This is high, ... Read More »

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