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Wednesday , 22 February 2017

Monthly Archives: July 2016

Benefits of gentrification outweigh costs; restrictive zoning reason for lack of affordable housing: study

The word “gentrification” is often said with a sneer. Since the phenomenon was first observed and named (in 1964) in London, where upper middle class households had begun purchasing working class and derelict housing in the traditionally deprived East End, it has spread around the globe. Wealthier people in cities from Toronto to Sydney have moved into such rundown neighbourhoods—Toronto’s Cabbagetown in the 1960s and 70s was a classic case—and turned them into highly desirable middle class neighbourhoods. Property values soar. Nineteenth century homes are appreciated for their charm and “potential” and given a whole new life, lovingly restored. Those front-yard cabbages that fed people during the Depression in Cabbagetown ... Read More »

Home ownership rate plunges in US, millennials blamed for not buying

The home ownership rate in the United States has dropped to its lowest since 1965. CNBC reports that just 62.9 per cent of Americans owned their homes in the second quarter of 2016, the lowest rate in two generations. During the housing boom of the mid-2000s, the rate was as high as 69.2 per cent. The reason for the decline, according to real estate experts like Trulia, is millennials, who have the lowest ownership rate of their age group ever. What’s the problem with millennials? They tend to have a lot of student debt, which gets in the way of saving for a home. And they have delayed life choices ... Read More »

Tridel to build massive development, The Well, at Spadina and Front

The area west of Spadina between Front Street and Wellington may best be described as seriously under-developed. The south side of Front Street is unbuilt, forming the northern border of the main rail corridor into the city. A pedestrian bridge, grandly named the Puente de Luz (Bridge of Light), crosses the wide expanse of rail lands, linking Front Street to the new condo developments to the south. At the northwest corner of Front and Spadina is a large surface parking lot. West of that is the Globe and Mail building, soon to be vacated by the paper, which is moving over to King Street East. There are several low-rise industrial ... Read More »

Fast Internet coming to rural SW Ontario; SWIFT gets $180 million funding

The dream of rural southwestern Ontario residents to have access to affordable ultra-high-speed fibre optic broadband internet service is a little closer to reality today after a funding announcement by the provincial and federal governments. Ottawa and Queen’s Park each contributed $90 million to the Southwestern Integrated Fibre Technology (SWIFT) project, which aims to deliver high-speed internet to approximately 3.5 million rural Ontarians in 350 communities. SWIFT plans to build the high-speed broadband network so that everyone in western Ontario has access, “regardless of the size of their community, their age, education or where they work.” With $180 million in funding now in place, the project is expected to move ... Read More »

Canada’s housing markets a little more problematic than in spring: CMHC

Canada Mortgage and Housing Corporation’s housing market assessment chart is gradually turning an alarming red. Compared to the last assessment, which came out in April and had ten red blocks, the latest one, just released, has thirteen. What it means is that evidence of “problematic conditions” in Canada’s main housing markets has increased, especially in the areas of overvaluation and overbuilding. Vancouver is the only city of the fifteen measured to have moved from an overall moderate rating of problematic conditions to a strong one, turning from yellow in April to red in July. Toronto, on the other hand, did not change in any of the four categories measured. Conditions ... Read More »

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