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Canada Post strikes spread from Vancouver to New Brunswick

Posted in Bylaws / Regulations, Communications, Employment, Newsworthy

Canada Post strikes spread from Vancouver to New Brunswick

Vancouver and Niagara Falls, Ont., were added to the list of cities hit by postal disruptions this week as more Canadian Union of Postal Workers members walked off the job as part of rotating strikes. About 3,400 CUPW members in Vancouver walked off the job early Friday, joining Canada Post employees in the Niagara and Sudbury regions of Ontario, and Saint John, N.B., who launched job action to back contract demands. CUPW members have been conducting rotating walkouts across the country as a...

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Montreal: Immigrant and Identifiable Non-Resident Buyers

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

Montreal: Immigrant and Identifiable Non-Resident Buyers

Home purchases by non-resident buyers have been drawing attention lately. Most of the discussion has centered on the Vancouver and Toronto markets. However, since Montréal is also a major urban center in Canada, it is also important to continue to monitor the situation of non-resident buyers on the Montréal housing market. In our latest Housing Market Insight for Montréal, we update data from our previous report (September 2017) to see what the latest trends are so far in 2018. We also suggest...

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Tree of Life synagogue shooting: What we know so far

Posted in Communications, Health & Safety

Tree of Life synagogue shooting: What we know so far

A gunman entered the Tree of Life synagogue in Pittsburgh on Saturday morning and opened fire, killing 11 people. Six people were injured, among them four police officers, in the attack on the synagogue in the Squirrel Hill district. The suspect, who was taken into custody, has been named as Robert Bowers, 46. Here’s what we know so far about the shooting. Warning: This story contains offensive language and anti-Semitic quotes. What happened? The gunman entered the building shortly...

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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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