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Wednesday , 29 March 2017

Monthly Archives: December 2016

After twenty years of talk, online grocery shopping still struggling

Everybody buys groceries, and we live in an increasingly online world of retail where everything, including groceries, can be purchased via mobile apps. Ergo, online grocery shopping must be a booming business. After all, if one lived in a condo in downtown Toronto, and it was a cold, snowy, wintry day, why would one brave the elements just to buy eggs and apples if one could order them from the warm comfort of home and watch something on TV until they arrived? In fact, some people would do that. The problem is, not enough of them. An online trade magazine, Progressive Grocer, published the results of research by a group ... Read More »

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 is now asking for public input on the proposed regulation that will “support” implementation of the PCOA. Public feedback will be accepted until February 6, 2017. The ministry wants the regulation to come into effect on July 1, 2017. The regulation concerns two main areas: the licensing of condominium managers and the regulation of the ... Read More »

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, suggest that the housing sector will not be as strong an economic engine as it was before the mortgage regulations took effect. The number of new listings was also down. Despite the November drop, however, CREA says that 2016 will still be a very strong year for home sales, which it projects will rise by ... Read More »

Bank of Canada worried about big mortgages, big debt

If you bought a home before the middle of last October and if you had a less-than-optimal down payment, otherwise known as taking out a high-ratio mortgage, you might consider yourself lucky today. According to the Bank of Canada, many people in your position would not qualify for a mortgage under today’s rules. This is one of the findings in the central bank’s latest review of the financial system. Its purpose is to look at the strengths and weaknesses of the system so that governments can take action if that is required. The report identifies three key vulnerabilities, two of which concern the housing market. The three vulnerabilities have not ... Read More »

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 as the value of real estate has increased. Specifically, the total value of non-financial assets in the economy rose 1.4 per cent to $9.7 trillion at the end of the third quarter. The main contributor was a 1.4 per cent increase in the value of real estate. As a result, every individual Canadian was worth ... Read More »

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