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Trump Hails Nafta Talks With Mexico, Says Canada Must Wait

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

Trump Hails Nafta Talks With Mexico, Says Canada Must Wait

President Donald Trump said negotiations with Mexico on a new Nafta are “coming along nicely,” while telling Canada it will have to wait to re-enter the talks to modernize the three-nation trade pact — hinting at his preference for bilateral negotiations. “Deal with Mexico is coming along nicely. Autoworkers and farmers must be taken care of or there will be no deal,” Trump tweeted late Friday, adding that incoming Mexican president Andres Manuel Lopez Obrador “has been an absolute...

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Poloz faces inflation, Trump ‘dilemma’ in rate decision: Economist

Posted in Appraisal, CMHC, Communications, Employment, Housing, Industry Trends, Newsworthy

Poloz faces inflation, Trump ‘dilemma’ in rate decision: Economist

Bank of Canada Governor Stephen Poloz faces a big “dilemma” coming from both sides of the border when he makes his next interest rate decision in September. While the Canadian economy appears strong with the latest unemployment rate falling to a four-decade low of 5.8 per cent in July, Poloz also is battling accelerating inflation at home and economic risks from trade issues with the U.S. when considering what the central bank’s next move will be, said Benjamin Tal, deputy chief economist with...

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Millennials Study: Down Payments Delay Homeownership by up to 35 Years

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

Millennials Study: Down Payments Delay Homeownership by up to 35 Years

Most Millennials tend to greatly underestimate the amount they will need for a down payment. The national average down payment amount is about $25,000, but 30% of Canadian Millennials have less than $10,000 in savings, and 10% have no savings at all. In Canada’s 10 most populous cities, the time needed to save for a down payment varies significantly: from 20 years in Vancouver, to 4.6 in Toronto, and as little as 1 year in Edmonton. In the nation’s seven most expensive markets, Millennials...

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‘Fantastically good’ Canadian economy shifts focus to rate hike

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

‘Fantastically good’ Canadian economy shifts focus to rate hike

Canada’s economy is gaining strength instead of buckling amid a trade fight with the U.S. Exports rose to a record high in June even as President Donald Trump slapped tariffs on steel and aluminum, and gross domestic product expanded in May at its fastest clip in a year, according to data released this week by Statistics Canada. That has economists predicting second-quarter growth of more than 3 per cent and talking about the possibility of a second-straight rate increase from the Bank of...

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‘Shock and awe’: Life in Doug Ford’s Ontario

Posted in Appointments, Bylaws / Regulations, Communications, Development, Employment, Finance, Health & Safety, Housing, Industry Trends, Legislation

‘Shock and awe’: Life in Doug Ford’s Ontario

Doug Ford has wasted little time in his first month as premier of Ontario, leaving the business community to wonder whether a “shock and awe” approach can be sustained for his full term. The newly minted Progressive Conservative leader has kicked off his tenure at Queen’s Park by moving rapidly on a number of fronts – from carbon taxes to cannabis retail – Toronto city council and more. Every move thus far appears to have been designed to fulfill campaign promises to his supporters while...

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3 unexpected ways Montreal’s housing market continues to heat up

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

3 unexpected ways Montreal’s housing market continues to heat up

Strong immigration numbers and a red hot job market have been boosting the Montreal housing market all year, and last quarter was no exception. As other cities struggle to adjust to the effects of new policy, including a mortgage stress test, the Montreal market has posted month-after-month of rising home sales and prices. Read on for a closer look at three ways the market continued to outperform last quarter. Sales are climbing The second quarter of 2018 saw a 4 per cent quarter-over-quarter...

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These 3 groups of homebuyers are causing condo prices to soar in Greater Vancouver

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

These 3 groups of homebuyers are causing condo prices to soar in Greater Vancouver

Although overall home price growth has eased in Greater Vancouver over the past year, prices continue to rise in the region’s condo market, due to overwhelming demand for the more affordable homeownership option. But, Royal LePage President and CEO Phil Soper says there are three key groups of prospective homebuyers that are putting extra pressure on the condo market. “We have young people, Millennials, who are moving rapidly into homeownership and they are looking for condos. We have retiring...

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Doug Ford’s Ontario PCs Say Killing Cap-And-Trade System Will Cost $5M

Posted in Bylaws / Regulations, Communications, Finance, Housing, Industry Trends, Legislation, Newsworthy, Tax Law, Utility Management

Doug Ford’s Ontario PCs Say Killing Cap-And-Trade System Will Cost $5M

The environment minister believes the business community will like the move. Ontario’s new Progressive Conservative government expects to spend up to $5 million to compensate companies that bought into the province’s cap-and-trade system, the provincial environment minister said Wednesday before moving to repeal the carbon pricing program. Rod Phillips introduced a bill that, if passed, will lay out the legal framework to wind down cap and trade, as well as the criteria for...

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Housing intervention creating permanent generation of renters, association warns

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

Housing intervention creating permanent generation of renters, association warns

Recent government policies aimed at cooling some of Canada’s hottest housing markets will result in a permanent generation of middle-class renters, a new report from Mortgage Professionals Canada warns. In a study released Wednesday, the industry association estimates approximately 100,000 Canadians have already been priced out of buying a home as a result of Ottawa’s new mortgage stress tests that took effect in January. It also says that that about 18 per cent of prospective homebuyers who...

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Toronto’s rental frenzy spurs highrise dog park, fleet of Teslas

Posted in Appraisal, Communications, Development, Exterior Building, Finance, Housing, Industry Trends, Newsworthy

Toronto’s rental frenzy spurs highrise dog park, fleet of Teslas

Here’s a new perk for Toronto apartment renters: Watch your pup frolic on the terrace while sipping a cocktail and enjoying a movie on a 75-inch flat-screen TV in the building’s plush cinema room. The “bark park” is just one of the luxuries on offer at a new downtown apartment building designed to feed the city’s rental frenzy. The Livmore, a 43-storey, 595-unit building at the corner of Bay and Gerrard Sts., cost owners GWL Realty Advisors Inc. more than $200 million to develop. “The demand...

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