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Thursday , 29 September 2016

Category Archives: Urban Living

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Features on the downtown scene, events and urban living.

Seniors intend to spend, not bequeath their wealth to the children

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For as long as humans have owned property and created families, there has been a strong understanding between parents and children that the property would be passed along from generation to generation. Now there is research from several different sources that indicates that today’s younger adults and their parents may not necessarily be on the same page when it comes to the big I: Inheritance. While 75 per cent of British adults aged twenty to thirty-five “expect” to receive an average nest egg of about $133,000 when their parents die, the parents have different ideas. More than one-third of parents (37 per cent) indicated that they intended to spend all ... Read More »

Preliminary report released on new home warranties in Ontario, final expected this fall

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Last November, the Ontario government initiated an independent review of the Ontario New Home Warranties Plan Act and the Tarion Warranty Corporation that administers it. The Act was passed in 1976 to protect new home buyers, and the not-for-profit Tarion corporation was created and given the responsibility of administering warranties and of regulating builders and vendors of new homes in Ontario. The review of the Act was undertaken by a special advisor appointed for the purpose, with the aim of identifying opportunities to improve consumer protection, given that so much has changed in the home building industry over the past forty years. One of the biggest of these changes is ... Read More »

Canadians prefer to shop locally, but not at any price

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If good intentions were all that counted, small retail businesses in Canada would be in excellent shape. The majority of Canadians (82 per cent) say they understand that by patronising a local business they are making an important contribution to the local economy. Even more (88 per cent) understand that local businesses contribute to the neighbourhood’s environment in a positive way. A sizable majority of Canadian say they would prefer to live close to local businesses and would rather shop locally than at large retailers. Clearly, Canadians are on side when it comes to supporting small businesses and local economies. How fortunate for small business owners! But . . . ... Read More »

In private rentals, landlords need to choose carefully

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Rightly or wrongly, landlords do not get much sympathy from the public, especially from those who rent. Most of the complaints filed by tenants are against small private landlords, the ones who rent out a flat in their house or a basement apartment or room. According to a recent study in the UK, one million private renters reported their landlords for breaking the law last year, mostly in the form of entering tenants’ premises without permission. Many private renters also complained that they were unable to get their initial deposit back when they ended their tenancy. But there is another side to the story, as we saw in the news ... Read More »

Ontario realtors against foreign buyer tax despite BC getting desired result

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There’s evidence that BC’s new foreign buyer tax is working to stop foreign buyers from buying BC real estate. Purchases of residential real estate in British Columbia fell from 1,974 sales from June 10 to August 1, to just sixty sales in the period from August 2–31. In dollars, foreign investment plunged from $2.2 billion to just $17 million. In Vancouver, foreign sales fell from 508 in the period before the tax to fourteen from August 2 to 31. In BC, Premier Christy Clark said the impact of the tax had been “dramatic,” and that was what BC residents wanted. According to the Vancouver Sun, Clark said that the middle ... Read More »

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