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Industry Trends

Government support for energy sector growth urgently needed: RBC’s McKay

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

Government support for energy sector growth urgently needed: RBC’s McKay

The CEO of the Royal Bank says the oil and gas sector is poised to deliver billions of dollars in new revenue to Canadian governments over the next decade by meeting growing global energy demand but it can’t do it without urgently needed support. Dave McKay, who has previously taken Ottawa to task over Canada’s lagging tax competitiveness with the U.S., says a new RBC study suggests that Canadian governments could earn an extra $195 billion in revenues between now and 2030 with the...

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Vancouver condo prices are falling. So why are developers launching more condos this fall?

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

Vancouver condo prices are falling. So why are developers launching more condos this fall?

Despite declining prices, developers have ramped up condo launches in Vancouver this fall, according to real estate marketing and analysis firm MLA Canada. This month has seen developers bring more than 2,300 new condo units to market across Greater Vancouver and the Fraser Valley, surpassing MLA’s earlier forecast of 2,086 units and 17 projects. It was the busiest month of the year for launches. In October 2017, a little more than 1,600 pre-sale units were released, by MLA’s count. The annual...

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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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Jennifer Keesmaat Needs A More Realistic Affordable Housing Plan

Posted in Appointments, Communications, Events, Housing, Industry Trends, Newsworthy

Jennifer Keesmaat Needs A More Realistic Affordable Housing Plan

Building 100,000 units in 10 years could be a very difficult promise to live up to. If elected on Monday, Oct. 22, Toronto mayoral candidate Jennifer Keesmaataims to build 100,000 affordable homes over 10 years. It is a bold idea, and it includes this wonderful round number, but let’s face it — this pledge is unrealistic. Why? First, even if she’s elected, along with other “ifs” (there are few details about her bold plan), there wouldn’t be a shovel hitting the...

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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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