Canada's Condominium Magazine

Monthly Archives: December 2016

Consumers more positive about economy as holiday shopping season enters final week

Consumers more positive about economy as holiday shopping season enters final week

Your country needs you—to spend. In 2016, consumer spending was up 2.2 per cent, says BMO, and conditions continue to be “favourable” for consumers. Employment is up, household net worth is up, owners’ equity in real estate is up, and consumer confidence is up. The fact that household indebtedness is also up is the only… Continue Reading

Ontario government seeking public input on new condo management program

Ontario government seeking public input on new condo management program

A year ago, the Protecting Condominium Owners Act, 2015 (PCOA), received Royal Assent in Ontario. That act made substantial amendments to the Condominium Act, 1998. It also enacts the Condominium Management Services Act, 2015 (CMSA), which will make it obligatory for all condominium managers to have certain qualifications. The Ministry of Government and Consumer Services… Continue Reading

Lower November home sales signal impact of new mortgage rules: CREA

Lower November home sales signal impact of new mortgage rules: CREA

Recent regulatory measures taken by the federal government have dampened a “wide swath” of housing markets in Canada and pushed some first-time buyers to the sidelines, says the Canadian Real Estate Association (CREA) in its sales report for the month of November. November’s results, which show a decline of 5.3 per cent in sales nationwide,… Continue Reading

Canadians better off as net worth, assets, savings rise, but so does household debt

Canadians better off as net worth, assets, savings rise, but so does household debt

The latest national wealth/national debt figures from Statistics Canada present an observer with some interesting options, which can perhaps best be described as seeing the glass as half full or half empty, depending on one’s disposition and tolerance for risk. The Stats Can report begins with an upbeat headline stating that national wealth has expanded… Continue Reading

Stem cell research venture a big boost to Canada’s biotech industry

Stem cell research venture a big boost to Canada’s biotech industry

Even though it has been touted as one of the most potentially beneficial areas of scientific research, the study of stem cells continues to raise controversy. An experiment announced in India earlier this year, which would have used stem cells to attempt to regenerate brain cells in brain dead patients, was described in the press… Continue Reading

Other Popular Stories

15 percent non-resident speculation tax becoming reality for Ontario; may help temper “frantic” real estate market “without unintended consequences”

15 percent non-resident speculation tax becoming reality for Ontario; may help temper “frantic” real estate market “without unintended consequences”

As expected, Kathleen Wynn moved to cool down the sizzling hot GTA real estate market with a bundle of measures, led by new 15 percent non resident speculation tax. Investors who are residents are exempt, although separate “policies” may also target locals. Expanded rent controls are also certain. “When I talk about the frenzy in…

Ask the Lawyer: Condo owner wants action on noisy Airbnb “tenants”

Ask the Lawyer: Condo owner wants action on noisy Airbnb “tenants”

Reader Question: “I believe my neighbour is renting out with Airbnb. I see people I don’t know coming and going, making lots of noise. I also don’t feel safe in this environment. What can I do about this? So far, complaining to management hasn’t helped.” Do you have a question for Richard? Please reach out…

Sousa again promises action in GTA real estate market and rent controls in “coming week”

Sousa again promises action in GTA real estate market and rent controls in “coming week”

In another of several announcements promising action on the Ontario housing market — this one promising “in the coming week” — Ontario’s Finance Minister Charles Sousa revealed more details of the pending plan to rein in speculative market pricing in the GTA area. A combination of low supply and excessive demand has thrust house pricing…

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