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Sunday , 26 March 2017

Monthly Archives: October 2016

Toronto studying how to regulate short-term rentals as Airbnb continues to grow

Call it criminal behaviour or call it ingenuity, but a Toronto woman’s actions in defrauding a landlord have got her arrested. The woman allegedly signed a lease with fraudulent intentions with a downtown condo owner. First the woman’s rent cheques bounced, then the owner discovered that she was advertising the place for rent on Aribnb. The rules of the condo in question do not allow rentals for under three months. The condo owner has reportedly been trying to resolve the issue, i.e. have the woman evicted, for five months. The woman has a history of being evicted from rented condos for failing to pay rent. In fact, as reported in ... Read More »

Don’t fall for tech support scams; Microsoft says it never initiates contact with users

Canadians, it turns out, have a healthy scepticism about unsolicited calls, e-mails and pop-up ads offering Microsoft or other tech support for their computers. Thousands of Microsoft users in twelve countries were surveyed, and Canadians were among the least likely to fall for the so-called tech support scam that is sweeping the world. Only 4 per cent of Canadians who were contacted fraudulently reported losing money as a result. In India, 22 per cent lost money, and even in the United States, 21 per cent did so, ten times the number in the UK. Many Chinese (16 per cent) have also fallen victim. Interestingly, the survey found that it is ... Read More »

New home sales, mostly condos, soared in September, and so did prices

A new record for new home sales in the GTA could be set this year. As of the end of September, total new home sales for 2016 stood at 34,736, beating the previous record (34,413 in 2007) and well above the ten-year average (27,871). Of those, 14,140 were low-rise homes, the third highest number in the last ten years. Compared to one year ago, total September sales were up 48 per cent. High-rise sales for the month were up 85 per cent over last year. Is this then a good news story for the Building Industry and Land Development Association (BILD)? Not entirely. In its monthly release on the state ... Read More »

Urgent action needed to address Ontario’s growing skills gap: report

Something is very wrong with the way Ontario’s education system prepares students for entering the workforce. Ontario turns out more graduates with post-secondary education than any country in the OECD, yet many of them earn less than the national median income and are ill-prepared for the jobs they are hired to do. The province has, in fact, an excess supply of post-secondary graduates, but too many of them are choosing the wrong field of study. Employers, meanwhile, are less than satisfied with many of the workers they hire. Getting students to choose the right field of study will require a whole new approach to student guidance in education, one in ... Read More »

Luxury home sales surging in Toronto, but are they foreign buyers?

Since early August, when Vancouver imposed a 15 per cent tax on foreign buyers of residential real estate, there has been a lot of speculation about where those foreign buyers would go, assuming they would flee the Vancouver market. Toronto, naturally, is one option, but there has been scant data so far to confirm any major shift eastwards. A TD economist said last week that “the million dollar question” was whether Toronto was becoming the new Vancouver, foreign investor-wise. That would mean that up to 20 per cent of home buyers would be foreigners. But Diana Petramala said foreign investment and speculation are likely playing a smaller part in Toronto ... Read More »

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