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Sunday , 26 March 2017

Monthly Archives: September 2014

Summer ending on high note with strong August resale numbers

After peaking in May, the real estate resale market in Toronto begins the gradual slide that eventually ends in the depths of December. This year is no exception. August sales were up slightly compared to last August—2.8 per cent—but down compared to May, June and July, as is usual. The Toronto Real Estate Board (TREB) reported 7,600 sales through the TorontoMLS system in August. Sales so far this year amounted to 65,454, an increase of 6.5 per cent compared to the same period in 2013. Sales were up in all home categories in August, which suggests, says TREB president Paul Etherington, “that first-time buyers and existing home owners remain very active in ... Read More »

NYC co-op story stranger than fiction

The first thing that strikes one about this very peculiar real estate story is the fact that the protagonist, a woman named Arlene Farkas, long-time resident of the very classy old-money Manhattan co-op building called River House, is reported to owe $6 million on her mortgage. The luxury apartment she lives in has either fourteen or eighteen rooms, depending on which report you read, but it is said to be very grand, with five bedrooms, a library, servants’ quarters and lovely views of Roosevelt Island in the East River (River House is the building in the centre of the photo above). So, how does anyone get $6 million behind in ... Read More »

Robots and AI are coming, but that’s good, right?

Could you be replaced by a robot? It’s not a fanciful, “whar if?” sort of question any more, but a real concern for many. Certain types of jobs are already disappearing. According to one US jobs website, CareerCast, jobs like mail carrier, meter reader, travel agent, newspaper reporter and even tax collector do not have good growth prospects. Some of them will disappear entirely. Their decline is not necessarily due to the rise of sophisticated robotics or artificial intelligence, but to the general displacing effect of new technologies. For what it’s worth, the experts say that while advances in technology usually displace certain types of work, they tend to create ... Read More »

Island airport’s popularity high, but jets are another question

The president of Porter Airlines, Robert Deluce, is emphatic about his airline’s financial health and its future viability. Asked on the CBC radio program As It Happens whether his just-announced decision to sell the terminal at Billy Bishop Airport was a sign that the company was in financial difficulty, he said “no.” Far from it, he insisted. It was a matter of getting out of the business of running an airline terminal, and concentrating on the core business, which is running an airline. The money raised from the sale, the possible amount of which he would not speculate on, will be used to expand the core business. As many Torontonians ... Read More »

Toronto 2030 District gearing up to meet carbon-neutral challenge

Can downtown Toronto become a carbon-neutral district in just fourteen years from now? Yes, if key building industry players get on board and work to meet that goal, according to the Toronto 2030 District initiative. Not only will they help solve one of the world’s biggest problems, they will realize that high-performing buildings are the most profitable buildings in Toronto. This is a term—Toronto 2030 District—we can expect to hear more about in coming months and years. It refers broadly to a set of greenhouse emission reduction targets originated by the non-profit organization Architecture 2030 in response to the climate change crisis. Acknowledging that buildings, or “the built environment,” are ... Read More »

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