page contents
Sunday , 26 March 2017

Monthly Archives: May 2016

New home supply down, prices up in GTA as April sets new records

April was a record-breaking month for the new homes market in the GTA, though the records broken were not necessarily signs of market strength. The number of new low-rise homes available for purchase dropped to its lowest level ever, while prices for these homes hit new highs, according to the Building Industry and Land Development Industry (BILD). On April 30, there were in total 2,751 new detached, semi-detached and townhomes available in builders’ inventory, just over half as many as one year ago (5,171). Prices, it goes without saying, also hit new highs: the average price of a new low-rise home in the GTA reached $864,181 in April, 11 per ... Read More »

Rising housing costs taking toll on many Canadians: survey

It’s a given that most people who own their homes would like to stay in them when the time comes to retire. The latest confirmation of this comes from Manulife Bank, which asked Canadian homeowners about their retirement plans: 94 per cent said they wanted to continue being homeowners, most of them preferring to stay in their current home, “during the first several years of retirement.” Aside from the usual sentimental reasons for wanting this, many of the surveyed homeowners are, quite literally, banking on their homes to see them through retirement. A large proportion of them say that their home equity will comprise 80 per cent or more of ... Read More »

UN cities report urges better urban planning to reach climate change goals

A new UN report on urban development is calling for a New Urban Agenda to correct the “spectacular” failures of urban policy in cities around the world. The UN Habitat World Cities Report 2016 makes a strong link between the growth of cities and the UN’s sustainability and climate change goals. Cities, the report maintains, are the platforms for global and local change in the twenty-first century, spaces where economies, cultures, political and ecological systems converge. The continuing growth of urban populations gives rise to massive challenges that include greater numbers of people living in slums, strained urban services, unrestrained urban growth, rising inequality, and climate change. The report outlines a ... Read More »

Interesting times for banking industry as fintech growth soars

Bill Gates is reported to have said more than twenty years ago that while consumers and businesses will always need banking services, they will not always need banks, thus unofficially inaugurating, or at least foretelling, the era of the fintech industry. Fintech, or financial technology, is a rapidly growing industry. According to Rohit Mahna, general manager of the cloud services company Salesforce, which held a one-day event in Toronto earlier this month, investment in fintech has grown from about $1.8 billion five years ago to more than $20 billion today. About $1 billion of that has been in Canada. Mahna argued that many consumers, especially younger ones,  have lost faith ... Read More »

Survey reveals “confidence gap” between men and women home buyers

Here’s a paradox: women now drive the world economy, according to the Harvard Business Review, controlling around $20 trillion in annual consumer spending, and women make almost all of the purchasing decisions in the home, yet when it comes to buying a home, women are much less confident than men, and worse, they feel unappreciated. A US insurance company survey of women in the home buying market found that even though more women than men want to own a home, a significant “confidence gap” is holding many women back. The confidence gap shows up in every important aspect of the home-buying process, both with regard to the wider economy and ... Read More »

Scroll To Top