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Finance

Ontario Faces An Electricity Shortage, And Doug Ford Is Making It Worse

Posted in Bylaws / Regulations, Communications, Finance, Industry Trends, Newsworthy, Utility Management

Ontario Faces An Electricity Shortage, And Doug Ford Is Making It Worse

Ontario will face electricity shortages in the coming years, as the loss of supply from a planned shutdown of a major nuclear power plant is made worse by the provincial government’s cancellation of renewable energy projects. In a recent forecast, the Independent Electricity System Operator (IESO) — the Crown corporation that runs the province’s electric grid — predicted that, if nothing changes, Ontario will start seeing electricity shortages during peak summer periods starting in...

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Feds Won’t Accept ‘Ridiculous’ Quotas To Replace Steel, Aluminum Tariffs

Posted in Bylaws / Regulations, Communications, Employment, Finance, Industry Trends, Legislation, Newsworthy, Tax Law

Feds Won’t Accept ‘Ridiculous’ Quotas To Replace Steel, Aluminum Tariffs

The levies did not go away when the USMCA was reached at the 11th hour. Canada is not about to agree to quotas or other limits on its exports in order to get the United States to lift punishing tariffs on steel and aluminum, says a source close to the ongoing talks to resolve the lingering tit-for-tat trade standoff. Where the two sides ultimately end up remains to be seen, but the Canadian source — speaking on condition of anonymity in order to discuss sensitive negotiations — described the...

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Bank of Canada likely to raise rates despite soft data: Economists

Posted in CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Bank of Canada likely to raise rates despite soft data: Economists

There is little doubt the Bank of Canada will raise interest rates next week, despite a pair of soft economic reports Friday, as the overall economy remains strong and the weight of trade uncertainty has finally been lifted, according to some analysts and economists. “I don’t believe that this is going to materially change the Bank of Canada’s longer term perspective, that this is an economy operating at capacity and that normalization of interest rates is required,” Frances Donald, head of...

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Toronto rental boom drives record-breaking sales in apartments

Posted in Appraisal, Communications, Finance, Housing, Industry Trends, Newsworthy

Toronto rental boom drives record-breaking sales in apartments

Rising rents across Toronto led to record-breaking sales for multi-residential apartment buildings in the third quarter, according to a report released Friday by commercial real estate firm Avison Young Canada Inc. Demand for other commercial real estate assets continued to outstrip supply, the report said. Investors racked up more than $4 billion worth of deals in the third quarter. “Buyers looked to take advantage of record-low vacancy and rising rental rates across most asset types —...

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Skyline Apartment REIT Sells $213.5 Million Multi-Residential Portfolio in St. Catharines, ON

Posted in Communications, Finance, Industry Trends, Newsworthy

Skyline Apartment REIT Sells $213.5 Million Multi-Residential Portfolio in St. Catharines, ON

Skyline Group of Companies is pleased to announce the sale of $213.5 million in multi-residential real estate assets from the Skyline Apartment REIT to Toronto-based Q Management LP (“Q”). The sale consisted of 12 buildings (totaling 1,157 apartment units) located in the city of St. Catharines, ON. Skyline Apartment REIT acquired the buildings and has owned and managed them since 2007. The disposition of these assets was completed on Friday, September 28th, 2018. “We believe we have found a...

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China swoops in on Canadian oil that’s US$50 cheaper than U.S. crude

Posted in Communications, Finance, Industry Trends, Newsworthy

China swoops in on Canadian oil that’s US$50 cheaper than U.S. crude

Chinese oil buyers are making a beeline for a bargain across the Pacific. With Canadian oil over 60 per cent cheaper than U.S. benchmark West Texas Intermediate and global marker Brent, China’s refiners are being lured to the heavy, sludgy crude. That’s because — apart from being a source of fuel — it’s rich in bitumen, a black residue used to build everything from roads to runways and roofs. China’s demand for the material is expected to increase as President Xi Jinping’s...

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Canadian Home Construction Takes A Plunge In The Middle Of A Population Boom

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

Canadian Home Construction Takes A Plunge In The Middle Of A Population Boom

Canada’s housing market slowdown, which began with a drop in sales, is now spreading to home construction. Housing starts in Canada have fallen steeply in recent months as the country’s developers react to a slowdown sales brought on by rising interest rates, tough new mortgage rules and historically poor levels of home affordability. But the timing is wrong: Population growth has accelerated, and we may now not be seeing enough construction to keep up with demand. The number of...

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Manitoba backs out of planned carbon tax, maintains ‘green plan’

Posted in Communications, Finance, Housing, Industry Trends, Legislation, Newsworthy, Utility Management

Manitoba backs out of planned carbon tax, maintains ‘green plan’

WINNIPEG — Manitoba Premier Brian Pallister did an about-face on carbon taxes Wednesday, abandoning plans to start charging a levy in December and joining other conservative leaders in flat-out opposition to federal plans. Pallister announced a year ago he would enact a $25-a-tonne carbon tax and keep it at that rate. That would have increased the price of gasoline by 5.3 cents a litre and raised other energy costs. The federal government has said provinces have to enact a cap-and-trade...

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These 5 Canadian cities have the fastest rising rents in the country

Posted in Appraisal, Communications, Finance, Housing, Industry Trends, Newsworthy, Rent Control

These 5 Canadian cities have the fastest rising rents in the country

Toronto has claimed the title of highest rent in the country for the past few months, but other Canadian cities have seen rents rise at a steeper rate, according to a new report from rental listings site PadMapper. While the average rent for a Toronto one-bedroom apartment sat at $2,200 last month, the city saw a 14 per cent year-over-year price appreciation, a slower rate than five other Canadian cities. In fact, the city with the fastest rising year-over-year rent in September was Windsor....

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Canada posts strongest jobs gain this year, led by part-time positions

Posted in Communications, Employment, Finance, Industry Trends, Newsworthy

Canada posts strongest jobs gain this year, led by part-time positions

Canada’s economy recorded its best monthly job numbers this year, but the gains were all part-time and wage growth slowed. Employment increased by 63,300 in September, on a more than 80,000 gain in part-time work, Statistics Canada said Friday from Ottawa. Full-time employment was down by 16,900. Economists were anticipating a 25,000 increase on the month. While this particular data series tends to be volatile, the overall picture of Canada’s jobs market so far this year has been one of decent...

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