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Wednesday , 29 March 2017

Monthly Archives: May 2015

Banks found guilty of cheating in securities-backed mortgage case

The repercussions of the 2008 financial crisis continue to be felt. A US District Court judge with a reputation for dealing harshly with big banks has looked into the dealings of some of the world’s biggest and found much to repel her. In her latest case, she ruled that a Japanese bank, in partnership with a Scottish one, cheated the US government by selling it $2 billion worth of bonds backed by faulty mortgages. The case involved the only bank to challenge the US government over its role in the mortgage-backed securities scandal that led to the financial crisis of 2008. The New York judge, Denise Cote, ruled that Japanese ... Read More »

Lower housing costs would add $1 trillion to US economy: report

What’s good for Toronto is good for the country. We hear that often, especially during election campaigns. With GDP equal to about one-fifth of the country’s, Toronto is an important economic engine. But could it be even more so? Could it be as simple as making more housing available so that more people could move here? Not exactly. But a pair of academic economists in the US have concluded that making more housing available in key cities like New York and San Francisco would have a $1 trillion impact on US GDP. The economists looked at the relationship between cities and the national economy in terms of economic output and productivity ... Read More »

How to stop vampire devices from sucking your electricity (dollars)

Would you be surprised to learn that the cable TV box sitting on your television uses nearly as much power when the television is off as when it’s on? Would it shock you to learn that as much as one-third of your household’s electricity consumption is wasted? Would you be interested in saving up to $440 a year on your hydro bill? It could be as easy as taking inventory of your home’s electronic devices and appliances and making sure they are really turned off when you turn them off. Look no further than the set-top box on your television. A Los Angeles Times report claims that set-top boxes are ... Read More »

Industrial real estate sector confident, growing: report

In Ontario we’re used to hearing about the decline of the industrial base as manufacturers large and small move elsewhere where conditions are seen as more favourable. An Avison Young report on the industrial real estate market gives a different, much more positive perspective, however. As measured by vacancy rates and rental rates for industrial properties, Toronto and the GTA are in fact doing very well. Toronto is the third-largest industrial market in North America, after Los Angeles and Chicago, as measured by the available inventory of industrial space, and that inventory is growing. Toronto’s share of the country’s total inventory of nearly 2 billion square feet is now 43 ... Read More »

Turn off your lights: save the birds

The City of Toronto is asking residents to do what they can to help prevent migratory bird deaths this season. The migration season is in full flight until the end of May. Migrating birds tend to prefer flying at night, navigating by the light of the moon and the stars. The biggest problem for the birds is light pollution from cities, which attracts the migrating birds, disorients them, and often kills them. The most helpful thing that individuals can do, therefore, is to turn off unnecessary lights at home and at work, especially when leaving work at the end of the day. The city advises that condo and apartment dwellers ... Read More »

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