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New records for Canada's resale housing activity via the Multiple Listing Service were set in May 2005, according to statistics released by The Canadian Real Estate Association. Both seasonally adjusted and unadjusted dollar volume surpassed the $10 billion mark in May ($10.029 billion) – the highest level for any month on record and the first time seasonally adjusted dollar volume has entered double-digit territory... |
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A housing market gone mad?
Published : June 09, 2008 | Author : mortgagegenie | Views : 1029 | Unrated |
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| A difficult question to answer is whether the euphoria of the upswing endangers financial stability only if it embraces two or more objects of speculation, a bad harvest, say, along with a railroad mania or an orgy of land speculation...
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As condo towers rise, so does demand
Published : June 09, 2008 | Author : mortgagegenie | Views : 2250 | Unrated |
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| Two years ago, Toronto high-rise condominium sales were off to their worst start in five years, though they were coming off a record sales year in 2002. For the first four months of 2003, only 3,030 suites had been sold, compared to the 6,026 suites for the same period in 2002...
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Banks cut residential mortgage rates
Published : June 09, 2008 | Author : mortgagegenie | Views : 2355 | Unrated |
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| Financial institutions cut their posted rates for residential mortgages today as weak U.S. economic data caused a continuing decline in long-term bond yields.
Royal Bank was first to trim its rates, dropping its one-year closed mortgage by 0.10 of a percentage point to 4.75 per cent and the five-year rate by 0.15 point to 5.7 per cent...
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Basement suites must meet requirements
Published : June 09, 2008 | Author : mortgagegenie | Views : 1007 | Rating :   |
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| The recent death of a single mother in a Toronto basement apartment fire is a reminder tragic fires can and do occur in every type of dwelling unit.
For landlords everywhere, it should underline the importance of ensuring that their below-grade residential units comply with all relevant fire code, building code and zoning bylaw requirements...
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Best January Since 2002 -- Commercial Realty Watch
Published : June 09, 2008 | Author : mortgagegenie | Views : 1124 | Unrated |
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| February 9 , 2005 -- Commercial space leased through the TorontoMLS system came to 764,190 square feet in January, TREB Commercial Council Chair Joe De Leo announced today. "Activity around the end of the holiday season tends to be relatively light, and this result is fairly typical for the month," Mr. De Leo noted. "In fact, it is the best January performance in three years." Mr. De Leo noted that volume was down one per cent over the 770,146 square feet of space recorded in December...
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Blackouts loom, city warned
Published : June 09, 2008 | Author : mortgagegenie | Views : 757 | Unrated |
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| Toronto faces rotating blackouts within the next two years unless urgent action is taken to get new power generators and transmission lines to serve the city.That dire warning is made in a 18-month forecast on the province's power supply released yesterday.
"Without new facilities, there is a risk of rotating power cuts as early as the summer of 2008 in central Toronto during periods of high demand," said Dave Goulding, head of Ontario's Independent Electricity System Operator, which released the forecast...
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