Robert Campeau, Who Built And Lost A Real Estate Empire, Dead At 93
Robert Campeau, the former real estate mogul who once controlled the Bloomingdale’s and Macy’s department store chains in the United States, has died at 93. An online obituary says he died in Ottawa on Monday. It did not specify a cause of death. Born near Sudbury, Ont., he started a construction company in 1953 and went on to amass a fortune in the real estate development business, with holdings in Ottawa, Toronto, California, Texas and Florida. According to the obituary,...
read moreAverage payments on new mortgages climbing faster than inflation, CMHC says
Canada’s federal housing agency says the average scheduled monthly mortgage payment for new loans climbed to $1,328 in the fourth quarter of 2016, up 4.6 per cent from $1,269 a year ago. The increase came as house prices continued to rise, particularly in the cities of Toronto and Vancouver and their surrounding areas. Canada Mortgage and Housing Corp. says the fact that the average scheduled monthly payment is growing faster than inflation is concerning because it suggests that homeowners...
read moreNon-profit collab inaugurates new seniors’ residence complex
Two non-profit entities have entered into a partnership and launched a new purpose-built community in downtown Toronto, in a bid to improve the supply of residential units catering to the needs of Canada’s elderly. Charity corporation The Reikai Centres and non-profit developer Options for Homes have announced their collaboration aimed at providing more long-term care space for Canadian seniors. The newest Community Hub on the north-west corner of Front and Cherry Street marked the first in...
read moreCanada Proposes New Bail-in Regulations for Country’s Banks
Canada’s department of finance proposed new rules Friday limiting government support for potential bailouts of the nation’s banks, extending a so-called “bail-in regime” promised last year. The government introduced in its April 2016 budget a plan to implement a bail-in regime for Canada’s “systemically important banks,” which would allow authorities to convert securities of a failing lender into common shares to recapitalize the bank and let it remain open and operating. The...
read moreWhat to expect when the B.C. legislature is recalled June 22
B.C. Premier Christy Clark announced last week she would recall the B.C. legislature on June 22 – about six weeks after a provincial election that saw the Liberals fail to secure a majority government. Normally, after a government is elected, the first order of business is to secure a Speaker. No party is obligated to volunteer one of their members, but if nobody does, experts say another election will likely be called. “What we would normally expect is members would go into the legislature...
read more‘Horrible feeling’: Economist warns more housing measures would be disastrous
After several big policy moves aimed at cooling Canadian real estate, a prominent housing bear says he can’t shake the “horrible feeling” that any further steps will lead to disaster. In the almost 12 months since Finance Minister Bill Morneau announced his working group on housing, Ottawa has made it harder for Canadians to get an insured mortgage through more stringent stress tests. In the meantime, B.C. and Ontario have pulled policy levers – most notably taking aim at foreign investors...
read moreUnleash the Power of Video Marketing
The capabilities of video in multifamily marketing stand alone as one of the most powerful tools for you and your community. While high-quality photographs continue to be an important aspect of the community evaluation process, the quick, informative nature of video has become increasingly popular among prospective renters. As a property manager, you must take advantage of video in your marketing strategy to effectively communicate with today’s consumers. Proper use of video marketing requires...
read moreRising debt, sizzling housing markets leave economy more vulnerable: Bank of Canada
As household debt levels continue to climb and housing markets remain hot, the central bank warned that Canada’s weak spots have widened. The country’s financial system has become increasingly exposed to economic shocks amid the continued rise of household debt and still-scorching housing prices in major markets, the Bank of Canada said Thursday. But even as the central bank warned the country’s most significant weak spots have widened, governor Stephen Poloz offered words aimed at reassuring...
read moreStarlight Investments to infuse new supply into Ontario apartment market
A Toronto-based real estate investment and asset management company has announced the closure of a forward purchase of 283 apartment units in two newly constructed residential buildings in Ontario. Starlight Investments, which currently manages $7 billion of multi-residential and commercial properties across Canada and the United States, stated that it has acquired the units situated at Sally Creek in 325 Lakeview Drive, Woodstock, Ontario and at Paisley Square in 1042 Paisley Road, Guelph,...
read moreGMBREB: Montreal residential property market boosted by condo activity
The outsized performance of Montreal’s condo market has led to a record number of homes being sold in the area last month, according to the Greater Montreal Real Estate Board. 5,057 residential properties were sold in May, a new high for that month and up 15 per cent year-over-year. The surge came amid concerns that a foreign buyers’ tax in Toronto could be having a spillover effect on Canada’s second-largest city, The Canadian Press reported. Real estate market observers have offered...
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