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Found 46 results

  1. Nom: Altoria Hauteur: 35 étages/120 mètres Coût du projet: 100 000 000,00$ Promoteur: Kevric Architecte: DCYSA Emplacement: Côte du Beaver Hall/Viger Ouest Début de construction: 2011 Fin de construction: 2013 (bureaux) et 2014 (condos) En date de septembre 2013, selon le rapport suivant : http://www.cbre.ca/AssetLibrary/MontrealOfficeDevelopment_Sep2013.pdf Class: A Size: 234,476 SF Floors: 10 Available Space: 136,098 SF % Leased: 41.9% Average Floor: 23,000 SF Completion: 1Q 2014 Status: Under Construction LEED Status: Registered LEED Gold Developer: Kevric Real Estate Corporation http://www.kevric.ca Owner: Kevric Real Estate Corporation Underground Connection: Yes Tenant: AIMIA (98,378 SF)
  2. Bay Street still has Canada’s most expensive office space http://renx.ca/bay-street-still-canadas-expensive-office-space/ Bay Street in Toronto has the most expensive office space in Canada, and no other city comes close to matching the $68.52 per square foot average rent that’s being asked for in the heart of the country’s financial district. JLL Canada recently released its “Most Expensive Streets for Office Space” report, which ranks Canadian cities by their highest asking rents. It shows many companies are still willing to pay a premium for the most expensive spaces, and competition is growing to get into prominent financial, retail and government hubs. “The most significant trend that we are seeing across major markets is that there are a large number of new developments underway,” said JLL Canada president Brett Miller. “Although we have only seen minor changes to the top market rents thus far in 2014, we anticipate that as the new inventory comes to market, overall rents will decrease in the older class-A stock whilst headline rents in new developments may raise the top line rents.” Here are the most expensive streets in nine major Canadian cities 1. Bay Street, Toronto, $68.52 per square foot Bay Street held strong in first place for the fourth year running. It features the headquarters of major Canadian banks and is home to many investment banks, accounting and law firms. Brookfield Place, at 161 Bay St., continues to command the highest office rents of any building in Canada at $76.54 per square foot. The average market rent in Toronto is $34.82 per square foot. (Bay St. looking north from Front St. shown in the image,) 2. 8th Avenue SW, Calgary, $59.06 per square foot 8th Avenue SW again has the highest average gross office rents in Calgary. Large vacancies and availabilities along this corridor typically account for significant activity and command market-leading rates. Large oil and gas companies have historically clustered around the central business district in this area. The top rent on the street is $64.40 per square foot and the average market rent in Calgary is $46 per square foot. 3. Burrard Street, Vancouver, $58.87 per square foot Burrard Street has dropped to third place despite a slight increase in average asking rent from $58.47 in 2013. Approximately 18.3 per cent of downtown class-A office supply is located on Burrard Street between West Georgia Street and Canada Place. The vacancy rate in these six buildings sits at 1.6 per cent, which justifies this location commanding some of the highest rental rates in the city despite the impending influx of new supply that’s putting downward pressure on rents throughout the central business district. The top rent on the street is $66.06 per square foot and the average market rent in Vancouver is $38.81 per square foot. 4. Albert Street, Ottawa, $52.10 per square foot Albert Street remained in fourth position with average rents decreasing slightly from $53.40 per square foot. Albert Street is mainly home to government-related office towers, including numerous foreign embassies, and a few of the largest Canadian business law firms. There seems to be a wait-and-see approach in anticipation of the 2015 federal election regarding the government’s intentions to lease or return more space to the market. The top rent on the street is $53.54 per square foot and the average market rent in Ottawa is $30.90 per square foot. 5. 101st Street NW, Edmonton, $46.71 per square foot The average asking rent dropped from $48.19 per square foot, but 101st Street NW is expected to remain the most expensive in Edmonton with the recent commitment to build the arena district, a large-scale, mixed-use project incorporating the city’s new National Hockey League arena. This is expected to revitalize some of the most important corners on the street. The top rent on the street is $54.15 per square foot and the average market rent in Edmonton is $28.30 per square foot. 6. René-Lévesque W, Montreal, $44.28 per square foot The average gross rent on the street hasn’t changed significantly year over year, but the total value of tenant inducement packages has nearly doubled. The most expensive building on the street (1250 René-Lévesque W) rents for $52.76 per square foot but has seen some downward pressure of two to four dollars on its net rent due to 170,000 square feet of vacant space left behind by Heenan Blaikie. The average market rent in Montreal is $30.38 per square foot. 7. Upper Water Street, Halifax, $36.42 per square foot Upper Water Street has maintained seventh place despite its average asking rent dropping from $36.65 per square foot last year. New construction coming on stream is expected to put downward pressure on rents in existing office buildings. The top rent on the street is $36.62 per square foot and the average market rent in Halifax is $27.44 per square foot. 8. Portage Avenue, Winnipeg, $35.67 per square foot Portage Avenue held strong in eighth place, with its average rent increasing from $35.17 per square foot. The class-A market remains tight and is expected to remain so through 2015. The top rent on the street is $37.32 per square foot and the average market rent in Winnipeg is $23.62 per square foot. 9. Laurier Boulevard, Québec City, $27.50 per square foot Laurier Boulevard held its ninth-place position despite the average rent dropping from $28.14 per square foot. There’s been no notable increase in the average gross rent and the vacancy rate on the street remains low at 5.2 per cent compared to the rest of the market’s 7.8 per cent. The top rent on the street is $28.98 per square foot and the average market rent in Québec City is $21.89 per square foot. JLL manages more than 50 million square feet of facilities across Canada and offers tenant and landlord representation, project and development services, investment sales, advisory and appraisal services, debt capital markets and integrated facilities management services to owners and tenants.
  3. Middle-class communities disappearing Big increase in poor neighbourhoods in Toronto and more rich districts, according to U of T study February 08, 2009 Daniel Dale STAFF REPORTER "PRIMO PIZZA," the sign reads. "SINCE 1965." Like the store's walls, it is green and white and red, the colours of the Italian flag, and, on the left, there is a cartoonishly mustachioed man carrying a pepperoni pie above his head. This could be any Italian-owned pizza joint in the city. It was indeed Italian-owned until last year. Then a man named Rocky sold it to a man named Abdul. Abdul Malik, a 43-year-old Indian immigrant, kept its name and its oven and its sauce and its dough. He made just one addition to the top right corner of the sign, easy to miss if you're darting in from the cold, above the shop's phone number. "Halal 100%." "Some people, when they see the sign `halal,' they don't come," said Malik, who also drives a taxi. "We're losing some customers. But we're gaining other types of customers." The neighbourhood known to Statistics Canada as Census Tract 354 is changing. A community of 1950s red-brick bungalows, sturdy front-lawn maple trees and long, narrow driveways, it seems the very embodiment of white middle-class suburban Canadiana. But like the rest of Scarborough, it is decreasingly white. And by University of Toronto Professor David Hulchanski's definition, it is no longer middle-class. Later this year, Hulchanski – associate director for research at the U of T's Cities Centre – and a team of researchers will release an update of their 2007 report The Three Cities within Toronto. Their new analysis of data from the 2006 census confirms a trend they found in the first study: the income gap between Toronto's rich areas and poor areas is growing, while its middle-income neighbourhoods are disappearing. Hulchanski's findings, in aggregate, are dramatic. At the micro-level of this individual neighbourhood, however, the impact of relative economic decline is not unlike Malik's change to the pizza shop's sign. Significant, certainly, but subtle. Between 1995 and 2005, the 5,225-person census district, roughly bordered by Lawrence Ave. E. to the north, Knob Hill Park to the south, Brimley Rd. to the west and McCowan Park to the east, gained 1,020 members of visible minority groups. They now comprise more than 55 per cent of the population, up from about a third in the 1990s. Most of the newcomers came to Canada this decade or last from South Asian countries – predominantly India, Pakistan and Sri Lanka. Like recent immigrants of all types, many of them struggle to make an adequate living. The area's average individual income in 2006 – $29,929 – was 25 per cent lower than the average for Toronto census districts: $40,074. Hulchanski classifies areas 20 per cent or more below the city-wide average as low-income; according to him, this area has been low-income since at least 2000. Yet ask long-time white residents to classify their neighbourhood and they will inevitably call it middle-class. Ask them to describe recent demographic changes and they will think for a moment, then point down the street to a house an Indian family bought from a British couple, or around the corner to another now owned by Sri Lankans. "When we moved in almost 30 years ago – we moved in '79 – there were more Anglo-Saxon people," said Filomena Polidoro, 53. "Now there are more ethnic people. It's more mixed. And it's nice, still nice. We like it." The old-timers' shrugs about its low-income status reflect a key caveat to the discussion of the disappearance of the city's middle-class census tracts: to fall from "middle-income" to "low-income," in relative terms, a neighbourhood need not get significantly poorer. Since the city's high-income neighbourhoods are getting richer, a middle-class neighbourhood that maintains its income level will be relatively poorer. The influx of South Asians has not made this one destitute; it remains largely populated, said Polidoro, by people who work as teachers, nurses, and factory and construction workers, among other unpretentious jobs. But the new arrivals contributed to a decline of about $1,000 in the neighbourhood's inflation-adjusted average individual income between 2000 and 2005. Two local real estate agents said about 70 per cent of people now inquiring about houses in the neighbourhood are South Asian. Many recent buyers, said Coldwell Banker agent Raffi Boghossian, are large extended families who have pooled limited incomes, sometimes "not much more than minimum wage," to acquire property. Local businesses have adjusted accordingly. At Reliable Parts, an appliance parts shop beside Primo Pizza, employee Warren Lastewka has a polite "the price is the price" speech he delivers when cash-strapped customers reared in haggling-friendly countries ask for unadvertised discounts. The Paperback Exchange, a bookstore in the plaza since the 1970s, now stocks elementary educational books with titles like Basic Learning Skills and Parts of Speech near its sci-fi novels. "I'll get a family of Pakistanis in when the teacher says to them, `Your kid's not going to make it if they can't read English.' From now through to June, that's when they usually get the notice," said Joy Ritchie, 64, the mother of owner Troy Ritchie. "I keep those books on the wall there. And I do very good business on that from now to June." Low-income areas sometimes lack proximity to social services and other essential conveniences. This one is served by Scarborough General Hospital, a Royal Bank, a Shoppers Drug Mart, a library and a Price Chopper. "Everything is convenient for us in this area," said Kaushik Maisuria, 28, an India-born auto garage employee who lives with his two uncles and two young cousins. "We can get whatever we want." Including, increasingly, products and services targeted to them, like Malik's halal pizza or the plaza's JD's Market and Halal Meat, where large bags of basmati rice line the aisles and a butcher works out back. Once a Becker's Milk, the location was a standard convenience store until October, when Jaffer Derwish's Afghanistan-born family converted it into a small grocery. In a tough economy, business is slow, said Derwish, 23. So is demand for local real estate. "The market is sort of dead in the area," Boghossian said. Many prospective buyers, he said, "are people with income that is not certain." "Typical Scarborough," said Royal LePage Signature realtor Joan Manuel. "You're not getting multiple offers. And if you do, you're not getting them over (the listed price)." Those people still making offers, however, are drawn to the neighbourhood's increasing ability to meet distinct South Asian needs. About 800 metres from Brimley Rd. is the large new Jame Abu Bakr Siddique mosque, a gleaming white facility whose minarets loom over another halal pizzeria. Prospective buyers have cited the mosque as a key lure to the area, said Manuel. And other attractions abound. Down the street is the bustling Bombay Bazaar grocery store in a Lawrence Ave. plaza so busy people park their cars in the middle of the parking lot, preventing those lucky enough to find spots from backing out. Nearby are a Hindi video rental store-slash-hair salon and a fish market. It is, for some, a sight to behold. "Where there used to be an old mom-and-pop operation," said Joy Ritchie, a touch of wonderment in her voice, "now they're selling saris." http://www.thestar.com/News/GTA/article/584203 Poor neighbourhoods growing across Toronto RENÉ JOHNSTON/TORONTO STAR Newspapers in South Asian languages serve the city's many new immigrants. Toronto's middle class is disappearing. Since 2001, 15 of the city's middle-income neighbourhoods have vanished, according to a yet-to-be released University of Toronto report. The majority became low-income areas, where individual earnings are 20 to 40 per cent below the city average. Hardest hit are the suburbs. Declines in Scarborough and north Etobicoke have continued. Falling income is also affecting parts of Brampton, Mississauga and Durham. In 1970, 86 per cent of 905 neighbourhoods were middle class. In 2005, that number had tumbled to 61 per cent. From 2000 to 2005, the number of city neighbourhoods with very low earnings – more than 40 per cent below the Toronto-area average – grew by almost 50 per cent. Residents in these neighbourhoods live on welfare-level earnings, says U of T researcher David Hulchanski. The report, due out this year, is an update of the groundbreaking 2007 The Three Cities within Toronto report by Hulchanski and a team of university researchers. It analyzed and mapped Statistics Canada census data from 1971 to 2001, finding that not only were middle-class neighbourhoods disappearing, but Toronto was divided into three distinct geographic areas: City 1, which consistently gained income; City 2, which maintained its income but shrunk in size; and City 3, whose residents saw their earnings fall over the 30-year period. Hulchanski says municipal governments are not to blame. "The people of Toronto did not do this to themselves. This is a national trend. What we're showing on these maps is the way federal and provincial policies, as well as the economy, have played out in Toronto's neighbourhoods." He says policies such as universal health care and social assistance helped build the middle class. Cutbacks, including downloading of social services from the province to cities and a lack of affordable housing and job protection, are leading to its destruction. "You didn't talk about McJobs in the 1970s, or even part-time jobs without benefits. Whoever heard of a job that wasn't full-time without benefits?" he asks. "That would be shocking 25 years ago. Now it's normal." Hulchanski's updated study, with another five years of data from the 2006 census, confirms the decline of the middle class and the continued polarization of rich and poor neighbourhoods. From 2001 to 2006, individual incomes in wealthy areas grew 14 per cent, while residents of low-income neighbourhoods made only modest gains. During the 1970s, Toronto was a predominantly middle-class city, with 341 of its 520 census tracts – neighbourhood areas determined by Statistics Canada so that they have roughly 4,000 residents each – in the middle-income category. Poverty was contained in the city's urban core. Thirty years later, it's a city divided. Richer residents live along the Yonge St. corridor, close to services and transit. Individual incomes average almost $90,000 a year. The proliferating poorer communities are located in Toronto's pre-amalgamation suburbs, the middle-class bastion of the 1950s. In 2006 that area included 40 per cent of the city's census tracts. Sixty-one per cent are immigrants. There is little rapid transit and an average income of $26,900. Sandwiched between the two areas is a shrinking City 2, neighbourhoods with static income where the average income is about $35,700. Hulchanski began his research in 2005 with a $1 million grant (spread over five years) from the Social Science Humanities Research Council of Canada. He teamed with St. Christopher House, an omnibus social service agency in the city's west end, to examine how gentrification was changing the neighbourhood. The data was difficult to analyze. Within the 30-year period, census boundaries had changed and some of the information wasn't available electronically. A U of T data analyst took more than a year to get it into shape. By the time Hulchanski began his work, Toronto and the United Way had completed research showing the city's poverty was highest in 13 priority neighbourhoods. "The trend line was clearly there. Researchers saw it and the city's work with the United Way was going on," says Fiona Chapman, manager of social research and analysis for Toronto. "What David's work has done is absolutely confirmed the concerns. And I think why everybody doffs their cap to David is (that) he's been very good at helping the public understand these concerns." BY THE NUMBERS How the income decline affects the outer suburbs $40,074 Average 2005 individual income, all Toronto census districts 61 Percentage of population comprising immigrants in districts where incomes have declined more than 20 per cent since 1970 34 Percentage of population comprising whites in such districts 19 Number of subway stations within 300 metres of such districts, versus 40 for biggest-gaining districts 54 Percentage of 2005-07 homicides in such districts, versus 12 per cent for biggest-gaining districts Source: University of Toronto Cities Centre U of T analysis of census data shows middle class shrinking, especially in Scarborough, Etobicoke February 08, 2009 Patty Winsa STAFF REPORTER http://www.thestar.com/Article/584204 interactive map: http://www3.thestar.com/static/Flash/map_middleclass.html PDF:http://multimedia.thestar.com/acrobat/51/c7/2cc835a5403d8d76478fae97bba0.pdf
  4. Immigrants to Quebec find job search hard Last Updated: Friday, September 4, 2009 | 4:16 PM ET CBC News Recent immigrants to Quebec have a harder time finding work than the average person, according to a CBC report. Aurelie Tseng has been looking for a job in Montreal for two years.Aurelie Tseng has been looking for a job in Montreal for two years. (CBC)The unemployment rate for new immigrants living in the province is nearly double the national joblessness average of eight per cent. Language barriers are a major obstacle for many people looking for work, especially in Quebec, where the dominant language is French. But even for French-speaking immigrants, searching for employment can be frustrating. Aurelie Tseng is a Taiwanese immigrant who moved to Quebec two years ago to be with her husband. Tseng has a business degree, speaks French, and is looking for work in her field. But after two years of looking for a job, she remains unemployed, and her discouragement grows. "I have no clue how to do it," Tseng told CBC News. "It takes more courage [now] because I have been depressed for a long time." Tseng has sought advice from YES Montreal, a non-profit organization that offers job-search services. They told her networking is key to finding any job. But networking in a new country is daunting, Tseng said. "In my country nobody does that, nobody would tell you to do that," she admitted. Tseng believes her Taiwanese background has made her job search tougher. "We are more, you know, moderate and modest. You just want to say 'OK, yes, I probably can do this,' but for example people here, they don't like to hear that, they want you to say it out loud: 'Yes I can do it' not just, 'Oh yes I think I can do it,' for example." Tseng said she's hoping to eventually get a break at a bank in Montreal's Chinatown.
  5. http://montreal.ctv.ca/servlet/an/local/CTVNews/20100505/mtl_building_100505/20100505/?hub=MontrealHome Surprise surprise.
  6. Best deals in real estate by Don Sutton, MoneySense Wednesday, June 16, 2010 It’s a crazy time for real estate in Canada. Prices are sky-high, people are feeling pressured into selling into a hot market and buyers fear purchasing an overpriced home only to see the bubble burst. But MoneySense magazine has come to the rescue and crunched the numbers to identify the best real estate deals in the best cities. Using hard data on 35 major housing markets, the magazine has awarded a letter grade based on how reasonable the house prices are, whether home prices are likely to rise and how prosperous the local economy is. Surprisingly, none of the winning cities are Canada’s largest, but instead reflect medium-sized cities with affordable house prices that have the ability to grow strongly with local economic conditions. The best deals in real estate in Canada are to be found in Moncton and Regina, both of whom received an A-, while Fredericton, St. John’s, Ottawa, Gatineau, Winnipeg, Guelph and Saint John all received a B+. The criteria for the study was strict and comprehensive. MoneySense compared average rents to average home prices, which gives a great indicator of how valuable a home is. Next it compared local wages as to average home prices to see how long it would take for a family to purchase a home. The magazine also evaluated how quickly homes sold and prices increased over the years. Last, the economic environment of the city was also analyzed. The magazine looked at how fast a community grew, what the unemployment rate was and what kind of discretionary income the citizens had. This method avoided identifying cheap real estate in communities where prices were unlikely to increase due to a poor local economy or widespread unemployment. The analysis gives a comprehensive overview of where to get the best real estate deals in Canada. The study is also useful for identifying which real estate markets to avoid. For example, Abbotsford and Montreal both only rated Cs. MoneySense’s study also identified overpriced markets. For instance, Kelowna, B.C., scored well in the category of growth potential and has a great local economy. But the average house price makes it hard for the typical family to buy into the market. With this aspect in mind, Kelowna rated a D+ in the value category and a C+ overall. Windsor, Ont., where house prices are among the best values in Canada, is in the opposite situation. It rated an A for affordability, but since the city is slowly recovering from deep layoffs in the car industry, it only rates a C in the momentum category and a C+ for local economy, giving it a B+ overall. In concrete terms, what the best cities for real estate like Regina and Moncton have going for them is big-city growth and opportunities without big-city prices. While the affordability and growth value of a home are not always the prime reasons to buy in a particular location, knowing that your home is a sound investment in an economically vibrant city offers great peace of mind. Top 5 cities: 1. Moncton A- 2. Regina A- 3. Fredericton B+ 4. St. John's B+ 5. Ottawa B+ http://ca.finance.yahoo.com/personal-finance/article/moneysense/1662/best-deals-in-real-estate
  7. Montreal house prices hold steady The Gazette Monday, October 06, 2008 Montreal's real-estate market remained steady during the third quarter, with average house prices experiencing single-digit gains, according to a House Price Survey report released yesterday by Royal LePage Real Estate Services. A decline in unit sales was recorded, however. While activity levels have rescinded since last year, average listing periods have actually shortened by a few days, compared to the same period 12 months prior. Of the 10 Montreal markets examined, the average price of a detached bungalow increased by 4.8 percent to $236,045, a standard two-storey home appreciated by 0.5 per cent to $336,381 and a standard condominium rose by 4.4 per cent to $204,336, year-over-year. "House prices in Montreal are inching upwards, despite an increase in listing inventory and the fact that there are slightly fewer unit sales," said Gino Romanese, senior vice-president of Royal LePage Real Estate Services Ltd. "When looking at Montreal's current housing market, we need to realize that 2007 shattered records," he added. "It's unrealistic to believe that that pace can be kept up for very long." © The Gazette 2008 http://www.canada.com/montrealgazette/news/business/story.html?id=952e9c04-7da1-4b47-8865-fd882d7d860b
  8. Toronto's two solitudes: Poor city beside rich city Nov 20, 2008 04:30 AM Comments on this story (3) David Hulchanski "We heard as well about parents whose struggle to hold down two or three jobs leaves them with no time or energy to parent, of youth being humiliated by the obviousness of their poverty, of the impact of precarious and substandard housing on their ability to study and learn and engage with friends, and about the numerous other daily stresses of living on the margins of a prosperous society." – Review of the Roots of Youth Violence, Vol. 1, p. 31. We learned last week that among the roots of youth violence is the lack of good jobs – jobs that support a family, jobs that support an average lifestyle, jobs that support good quality housing. Though we already knew this, as a society we need to stop moving in the opposite direction. It wasn't too long ago that our language did not include terms like "good jobs," "bad jobs" or "the working poor." How could you work and be poor? Many people today are working more than full-time and are poor. They have no choice but to live in the growing number of very poor neighbourhoods. Money buys choice. Many neighbourhoods are becoming poor in the sense that most of the residents are living in poverty, and poor in the sense that housing, public services and transit access are all inferior relative to the rest of the city. The growing polarization between rich and poor is happening in part because of the loss of average, middle-income jobs. There used to be far fewer concentrations of disadvantage in Toronto. In the early 1970s about two-thirds of the City of Toronto's neighbourhoods (66 per cent) were middle-income – within 20 per cent of the average individual in-come of the metropolitan area. By 2005, the middle income group of neighbourhoods had declined to less than one-third (29 per cent). The trend is the same in the communities around the city's boundaries – the 905 area. The number of middle-income neighbourhoods declined by 25 per cent, from 86 per cent to 61 per cent, during the same period. Now 20 per cent of the neighbourhoods in the 905 area have very low average individual incomes, compared to none in 1970. This income polarization – the decline of the middle group with growth in the two extreme poles – is not only a general trend among Toronto's population, but it also is the basis of where we live. The City of Toronto is now divided into increasingly distinct zones. One zone of tremendous wealth and prosperity, about 20 per cent of the city, is located mainly along the Yonge corridor and stretching east and west along Bloor and Danforth. Average household income was $170,000 in 2005, 82 per cent of the population is white, only 4 per cent are recent immigrants (arriving 2001 to 2006), and only 2 per cent are black. Some of these neighbourhoods are more white and had fewer foreign-born residents in 2005 than in 1995. In contrast, there is a huge zone of concentrated disadvantage. It is still located in part in the traditional inner-city neighbourhoods, but now is also in the inner suburbs, the car-oriented areas built during the 1960s and 1970s. This is 40 per cent of the city, about 1.1 million people. Close to one-third of residents live in poverty (are below the low-income cut-off measure used by the federal government). Only 34 per cent are white, 15 per cent are recent immigrants, and 12 per cent are black. Federal and provincial economic policies, while seemingly abstract and high-level, play themselves out on the ground in our neighbourhoods. Paying a growing segment of the population wages that do not support individuals, let along families, at a basic standard of living and a fundamental level of dignity is not sustainable. The now well-documented rise in income inequality, income polarization and ethnocultural and skin colour segregation are city-destroying trends. They are trends produced by commission and omission, by public and private sector decisions. We need to use our regulatory power for the common good to focus on improving the labour market through measures like a living wage and providing people with a voice in working conditions via a fairer path to unionization. One-sided policy-making is not only generating greater disadvantage, it is destroying the city as a great place to live and work. Nothing is trickling down. The city is increasingly segregating itself as the social distance between rich and poor increases. Immigrants are arriving in a very different economy than they did 30 and 40 years ago. A recent Statistics Canada study concludes, for example, "that the wage gap between newly hired employees and other employees has been widening over the past two decades," the "relative importance of temporary jobs has increased substantially among newly hired employees," and that compared with "the early 1980s, fewer male employees are now covered by a registered pension plan." In short, policies have allowed fewer jobs to pay a living wage with good benefits. This did not happen by accident. It is not only possible but essential that we have an economy with good jobs with at least a minimum living wage for all. We need public policies that support the goals of a just and inclusive society, and we have to ensure that the use of political power benefits the common good. These are key goals of the Good Jobs Coalition and form the agenda for Saturday's Good Jobs Summit. They are essential to reversing the city-destroying trends at work in Toronto today. David Hulchanski is a University of Toronto professor and author of the report The Three Cities within Toronto. This is one of a series of essays created for the Good Jobs Summit, which takes place Nov. 22 in Toronto.
  9. http://www.newswire.ca/news-releases/healthy-economic-outlook-for-montreal-and-quebec-city-in-2016-570899271.html OTTAWA, March 3, 2016 /CNW/ - Quebec's two largest cities are forecast to enjoy healthy economic growth in 2016. Montréal and Québec City can expect growth of 2.3 per cent and 2 per cent, respectively, according to The Conference Board of Canada's Metropolitan Outlook: Winter 2016. "The depreciation of the Canadian dollar and a healthy U.S. economy is bringing good news to Québec City and Montréal and their export-oriented industries. Economic growth in both cities has been on the upswing. In fact, we expect real GDP growth in both Montréal and Québec City to outpace the national average for the second consecutive year in 2016, after trailing it for five straight years" said Alan Arcand, Associate Director, Centre for Municipal Studies, The Conference Board of Canada. Highlights Montréal is expected to see real GDP growth of 2.3 per cent in 2016, up from 1.7 per cent last year. Québec City's real GDP growth is expected to reach 2 per cent in 2016. Vancouver's real GDP is forecast to grow 3.3 per cent, making it the fastest growing economy among the 28 census metropolitan areas covered in this edition of the Metropolitan Outlook. Montréal Montréal's economic improvement will be driven by a strengthening manufacturing sector, a rebound in construction, and steady services sector gains. Manufacturing output is forecast to expand by 3 per cent in 2016, bolstered by the combination of a weaker Canadian dollar and healthy U.S. demand. Two massive infrastructure projects—the $4.2-billion Champlain Bridge and the $3.7-billion Turcot Interchange—will help the local construction industry shake off three straight years of declines. However, a decline in housing starts will limit overall construction output growth to 2 per cent in 2016. Growth among the services-producing industries is projected to be 2.2 per cent in 2016, the same rate as in 2015. All eight industry sectors will advance this year, with the biggest gains coming from the business services sector and the personal services sector. In all, Montréal is expected to post real GDP growth of 2.3 per cent this year, up from 1.7 per cent in 2015. About 26,000 jobs are expected to be created in 2016. A similar rise in the labour force will keep the unemployment rate at 8.2 per cent, well above the national average of 7 per cent.
  10. Welcome to the province of tax tax tax. Now we're poorer and can't keep up with the cost of living. So much for le modele Quebecois. We need to make some adjustments to improve our collective wealth http://montrealgazette.com/business/local-business/quebecers-high-taxes-take-toll-on-buying-power "Despite a slight increase in disposable income, Quebecers have not been keeping up with cost-of-living increases, giving residents of la belle province the second lowest buying power of any province in the country, according to l’Institut de la statistique du Québec. Only Prince Edward Island has less buying power. According to the latest figures, disposable income in Quebec increased 0.9 per cent in 2013. At the same time, the consumer price index grew by 1.2 per cent. Therefore, real disposable income per resident declined by 1.2 per cent— the first time this figure has gone down since 1996. The reasons for the reduction in buying power are taxes and contributions to social programs, the institute says. With an average disposable income of $26,774, Quebec ranked second to last in 2013. Disposable income in P.E.I. was $26,439 per resident. The Canadian average is $30,746."
  11. http://www.businessweek.com/articles/2013-03-14/micro-apartments-in-the-big-city-a-trend-builds Always happy to see quotes from professors at my alma mater, especially when it comes to real estate issues! Micro-Apartments in the Big City: A Trend Builds By Venessa Wong March 14, 2013 6:00 PM EDT Imagine waking in a 15-by-15-foot apartment that still manages to have everything you need. The bed collapses into the wall, and a breakfast table extends down from the back of the bed once it’s tucked away. Instead of closets, look overhead to nooks suspended from the ceiling. Company coming? Get out the stools that stack like nesting dolls in an ottoman. Micro-apartments, in some cases smaller than college dorm rooms, are cropping up in North American cities as urban planners experiment with new types of housing to accommodate growing numbers of single professionals, students, and the elderly. Single-person households made up 26.7 percent of the U.S. total in 2010, vs. 17.6 percent in 1970, according to Census Bureau data. In cities, the proportion is often higher: In New York, it’s about 33 percent. And these boîtes aren’t just for singles. The idea is to be more efficient and eventually to offer cheaper rents. To foster innovation, several municipalities are waiving zoning regulations to allow construction of smaller dwellings at select sites. In November, San Francisco reduced minimum requirements for a pilot project to 220 square feet, from 290, for a two-person efficiency unit. In Boston, where most homes are at least 450 sq. ft., the city has approved 300 new units as small as 375 sq. ft. With the blessing of local authorities, a developer in Vancouver in 2011 converted a single-room occupancy hotel into 30 “micro-lofts” under 300 sq. ft. Seattle and Chicago have also green-lighted micro-apartments. “In the foreseeable future, this trend will continue,” says Avi Friedman, a professor and director of the Affordable Homes Research Group at McGill University’s School of Architecture. A growing number of people are opting to live alone or not to have children, he says. Among this group, many choose cities over suburbs to reduce reliance on cars and cut commute times. “Many people recognize that there is a great deal of value to living in the city,” he says. Friedman calls the new fashion for micro-digs the “Europeanization” of North America. In the U.K. the average home is only 915 square feet. In the U.S. the average new single-family home is 2,480 square feet. The National Association of Home Builders expects that to shrink to 2,152 square feet by 2015. Small living has deep roots in Japan, where land is scarce. “It’s just the way things have always been done,” says Azby Brown, an architect and author of The Very Small Home: Japanese Ideas for Living Well in Limited Space. Three hundred square feet may sound tight, but consider that Japanese families historically lived in row houses outfitted with 100-square-foot living quarters and large communal areas. After World War II, Japan’s homes grew, though not much by American standards. By the late 1980s the average Japanese home measured 900 square feet. Tight quarters demand ingenuity and compromise. Think of the Japanese futon or the under-the-counter refrigerator, a feature of European apartments. The Murphy bed gets a sleek makeover in a mock-up of a micro-apartment on exhibit at the Museum of the City of New York. The 325-square-foot space, designed by New York architect Amie Gross, also features a table on wheels that can be tucked under a kitchen counter and a flat-screen TV that slides along a rail attached to built-in shelves. Visual tricks such as high ceilings and varied floor materials make the space feel roomier. The show, titled “Making Room: New Models for Housing New Yorkers,” displays some of the entries from a design competition sponsored by New York’s Department of Housing Preservation and Development. The winning team, comprising Monadnock Development, Actors Fund Housing Development, and nArchitects, secured permission to erect a 10-story building in Manhattan made of prefabricated steel modules. Some of the 55 units will be as small as 250 square feet. “The hope is that with more supply, that should help with the affordability of these kinds of apartments so that the young or the elderly can afford to live closer to the center and not have to commute so far in,” says Mimi Hoang, a co-founder of nArchitects. Although tiny, these properties aren’t cheap, at least not on a per-square-foot basis. In San Francisco, where two projects are under way, rents will range from $1,200 to $1,500 per month. In New York, the 20-odd units for low- and middle-income renters will start at $939. Ted Smith, an architect in San Diego, says singles would be better served by residences that group efficiency studios into suites with communal areas for cooking, dining, and recreation. “The market does not want little motel rooms to live in,” he says. “There needs to be cool, hip buildings that everyone loves and goes, ‘Man, these little units are wonderful,’ not ‘I guess I can put up with this.’ ” BusinessWeek - Home ©2013 Bloomberg L.P. ALL RIGHTS RESERVED
  12. Discard your stereotypes: people in the U.S. own fewer passenger vehicles on average than in almost all other developed nations. Americans love cars. We pioneered their mass production, designed iconic autos from the Model T to the Deville to the Corvette, and are a major exporter as well as importer. It's practically a part of the American national identity. But it turns out, according to a new paper from the Carnegie Endowment for International Peace on worldwide car usage, that American per capita car ownership rates are actually among the lowest in the developed world. The U.S. is ranked 25th in world by number of passenger cars per person, just above Ireland and just below Bahrain. There are 439 cars here for every thousand Americans, meaning a little more than two people for every car. That number is higher in nearly all of Western Europe -- the U.K., Germany, France, Spain, Italy, Belgium, etc. -- as well as in Japan, Australia, and New Zealand. It's higher in crisis-wracked Iceland and Greece. Italians and New Zealanders have nearly 50 percent more cars per capita than does the U.S. The highest rate in the world is casino-riddled Mediterranean city-state Monaco, with 771 cars per thousand citizens. America actually starts to look unusually auto-poor when cars per capita is charted against household consumption per capita, which the Carnegie paper explains are two typically correlated variables. That is, countries where household spend more money on average tend to also own more cars. The countries on the right side of the line are where people own fewer cars than you might expect. The developed countries on that side of the graph include the super-dense Asian city states (Macao, Singapore, Hong Kong) where car ownership is tightly regulated to keep traffic down, and the United States. The countries far to the left of the line own more cars than expected: car-crazy Italy, for example, and sparsely populated Iceland. I found this really surprising -- I'd always associated the U.S. closely with car culture, an impression anecdotally enforced by my interactions with non-Americans. So what explains the American outlier? The Carnegie paper explains that car ownership rates are closely tied to the size of the middle class. In fact, the paper actually measures car ownership rates for the specific purpose of using that number to predict middle class size. Comparing the middle class across countries can be extraordinarily difficult; someone who counts as middle class in one country could be poor or rich in another. Americans are buying fewer cars -- is it possible that this is another sign of a declining American middle class? Even if Americans are on average richer than Europeans, after all, U.S. income inequality is also much higher. According to the Carnegie paper, about 9.6 of Americans' cars are luxury cars, an unusually high number; but it unhelpfully defines "luxury" as "Audi, BMW, Mercedes-Benz, and Lexus" (no Cadillacs?), which may help to explain why Germany's "luxury car" rate is 26.6 percent. Still, it's also possible that the answer has less to do with Americans adhering to Carnegie's thesis about car ownership predicting middle class size and more to do with other, particularly American factors. Young Americans are spending less of their money on cars, as Jordan Weissmann explained, as they get driver's licences at lower rates and spend more of their money on, say, high-tech smart phones. Amazingly, Americans still manage to suck up far, far more energy per person than do the people in those Western European nations with so many more cars per capita. Our oil usage per capita is about twice what it is in Western Europe, and here's our overall energy usage: Whatever the reason for America's comparatively low car ownership rate, it may be time to update our stereotypes. The most car-obsessed place in the world isn't the nation of Detroit and Ford and Cadillac. It's Western Europe, the land of Peugeot and Smart Cars and Ferrari, where cars are most common. L'article avec les graphiques mentionnés plus haut: http://www.theatlantic.com/international/archive/2012/08/its-official-western-europeans-have-more-cars-per-person-than-americans/261108/ L'étude: http://www.carnegieendowment.org/2012/07/23/in-search-of-global-middle-class-new-index/cyo2
  13. In keeping with the theme of creating a thread for each place, here's one for 1234. I'll make a bunch of threads for places that come to mind, maybe eventually we'll have a thread for every bar, restaurant, lounge, etc! So, 1234. Nice place, a little small, but it's got two floors and a nice terrasse. Music: Music is good, MC Mario is there, though i've yet to see him and he wasn't there last saturday (i think he's there on saturdays?) Drinks: Drinks are average price and the barmaids are friendly and reasonably fast Ages and dress: Not velvet rope, but not casual either... middle of the road. Average ages are in the 21-28 range although i've spotted both 18 year olds and 35 year olds. Bouncers: Average lineups on a saturday night. 10-15 min wait usually, during rush hour. Bouncers are friendly, never had delays. Cover: I think it's 15$, not sure (the guy lets us in without paying and gives us a bunch of free passes, i don't know if we're the clientele he's looking for or he's just a nice guy..) Misc: my girlfriend says the girl's bathrooms are bad and i find the men's bathrooms are fine, so go figure. Isn't it usually the opposite? Lol. Hip hop and pretty much anything on the top floor, mostly house, electro, etc. on the bottom floor. Pic from last weekend
  14. Canadian retail sales up in 2008: Report By Derek Abma, Canwest News ServiceJanuary 9, 2009 10:04 AM A report released Friday by Canada's largest processor of credit- and debit-card transactions indicates people were spending more money this past holiday season than the year before despite the downbeat economic environment. Moneris Solutions said its data for December sales indicates "resilience" in consumer spending last month and "dramatic growth" for certain categories, such as department stores and clothing retailers. Moneris said it processed two per cent more sales in all merchant categories in December compared with a year earlier. It said sales at department stores — which includes Wal-Mart and Zellers — were up nine per cent, and sales at apparel outlets were up six per cent. "Canadian consumers and retailers are owed a little bit of credit," said Brian Green, senior vice-president of Moneris Solutions. "Despite the inclement weather and despite all the noise about the economy, consumers went out and they bought more this year than they did last year, and retailers gave them a reason to do that." Green said retailers should be credited for their holiday sales performance because they responded to "a more difficult economy" by providing discounts, conducting successful promotions, and ensuring a positive experience for the people that came to their stores. He said in better economic times, the increase in holiday sales processed by Moneris has been as much as seven per cent. Richard Talbot, president of retail-analysis group Talbot Consultants, said he's not surprised by these numbers and never expected this past holiday season to be as bad as some expected. "I was not a great believer in the doom and gloom for Canada that we were led to believe in the media ahead of time because that wasn't the feedback I was getting from the retailers I deal with," he said. Talbot said the economic situation in Canada is not as dire as in the United States, though there could be more difficulties for domestic retailers in the coming year as the downturn for Canada's largest trading partner, the U.S., spills across the border. Moneris' figures for December showed sales for discount retailers, such as the various "dollar stores," were down 11 per cent from the year before. Moneris said it processed nine per cent less sales for wholesale outlets last month, a category that includes Costco. Green said it's possible the bargains being offered by department and specialty stores cut into some of the business for discount and wholesale outlets. Moneris said the average transaction value in December was three per cent less than a year before. Green said it was the first time Moneris, which has been doing these holiday-season comparisons for eight years, has seen a year-to-year decline in the average transaction amount. The company attributed this to a combination of discounting, lower gasoline prices and overall economic conditions. © Copyright © The Montreal Gazette
  15. En fin de journée, le Dow Jones Industrial Average (DJIA) lâchait 229,31 points, à 8 785,79 points, et le Nasdaq, à dominante technologique, 48,20 points, à 1 604,18 points. Pour en lire plus...
  16. Canada's housing market cools Home prices are still rising but much more slowly.Tyler Anderson/National PostHome prices are still rising but much more slowly. Resale price growth lowest in seven years Garry Marr, Financial Post Published: Friday, June 13, 2008 More On This Story TORONTO -- The Canadian real estate market is being flooded with homes, causing prices to start falling in some key markets, according to the Canadian Real Estate Association. The average price of a home sold last month in the country's top 25 markets was $337,071, an all-time record. But that record price was only up 1.1% from May, 2007 -- the smallest year-over-year increase in seven years. "The record number of new listings means more opportunities for buyers," said Gregory Klump. chief economist with CREA. "The resale housing market has evolved in just a few short months." CREA said there were 67,628 new units on the market in May, a 7% jump from last year. It was the second straight month that a record number of houses has gone on sale. The impact on prices is being felt most keenly in Alberta. The average price of a home sold in Calgary last month was $418,881, a 2.4% drop from a year ago. Edmonton sale prices averaged out at $340,499, down 4.8% from a year ago. Unit sales in both Alberta cities are also plummeting. Calgary homes sales were off 34.2% from a year ago while Edmonton sales were down 34.8% during the same period. The home sales are dropping across the country. CREA said on a national basis sales were off 16.9% in May from a year earlier.
  17. Montreal does it right Behind the chair BRYAN FADER hfxnews.ca I have just returned from a hair show in Montreal and once again I have fallen in love with that city. It is always so great to be in a place where people push the envelope with fashion. They seem to push the envelope with everything they do. While there I attended a Habs game against Ottawa. Now, to be honest, I am a Leafs fan and I hate both of these teams but to get caught up in all that was going on was easy to do. I did have some time in between great plays to notice that even at a hockey game the woman of Montreal dress well and have great hair and better makeup. What I also noticed is that they are not necessarily better looking. They are average I think in the big picture. But it's what they do with their version of average that matters. They accent the positive and hide the negative. They walk with confidence and a belief in themselves. It is really attractive to see a woman - any woman - carry herself with a sense of confidence. A sense of purpose and a sense of ease. Ease in herself and her look. I think it comes down to the details. Not a specific sweater or dress or haircut, but in all of the things that they pick it's quality over quantity. They make sure their hair is polished and their nails are manicured. The right earrings that can dress up any look. Now the great part about this is that you can do this, too. If you are feeling out of sorts with your fashion, whether it is your haircut or your clothes, this is the time to start to make a change, The first thing is to take a really good inventory. I was in Winners the other day trying on some shirts and I am not sure what the lights do in the dressing rooms but I know I look better than that!!! What it did do, though, was shine an honest light on what is working and what I have to work on. We need to be honest with ourselves if we expect to change and inventory helps with that. Start with your clothes. If it has a stain on it, if it has a rip in it or if you haven't worn it in a year then you must get rid of it. Just let it go. It isn't your friend. If it is your hair it's time for some detail. A cleaner cut, a solid colour that compliments your skin (your stylist can help you with that) . Think more polish. Think expensive. It doesn’t have to be expensive, just look expensive. And that means well done. Maybe your makeup is in need of an update. The first step is to book a consultation to reevaluate and start again. We get in such ruts with our looks that we sometimes can't see the forest for the trees. It's time to add a little French to our diet. Take the fashion challenge; you will be pleased with the results. [email protected] Bryan Fader is throwing out everything with hair colour on it and starting again. He is an international Platform artist for Piidea Canada and trying to get better every day. http://www.hfxnews.ca/index.cfm?sid=107117&sc=273
  18. STATISTICS CANADA April 20, 2015 1:34 pm People in Vancouver and Toronto least satisfied with their lives: StatsCan Man under umbrella in Vancouver Vancouverites report being less satisfied with their lives than residents of other Canadian cities, according to Statistics Canada. Maybe it's the rain? Jonathan Hayward / The Canadian Press Residents of Vancouver and Toronto report being less satisfied with their lives than people in other Canadian metropolitan areas, according to a new study published by Statistics Canada. Researchers asked the residents of various census metropolitan areas to rank their overall life satisfaction on a scale of 0 to 10, where 0 was “very dissatisfied” and 10 was “very satisfied.” In Vancouver, the average score was 7.808, followed closely by Toronto at 7.818. People living in Canada’s most-satisfied metropolitan area, Saguenay, gave an average score of 8.245 out of 10. The differences are larger when you look at the percentage of people who rate their life satisfaction as a 9 or 10 out of 10. In Sudbury, 44.9 per cent of residents ranked their overall life satisfaction that high. In Vancouver, it was only 33.6 per cent. When it comes to people who were comparatively unsatisfied with their lives – giving themselves a score of only 6 or less, there are again significant differences between cities. 17.1 per cent of people in Windsor, Toronto and Abbotsford-Mission ranked their life satisfaction at a 6 or less. Only 8.6 per cent of people in Saguenay gave themselves such a low score. To figure out what accounts for the differences, researchers tested various hypotheses. They found that people who are married or are in good health tend to rank their life satisfaction much higher than others. Unemployed people are more likely to have low satisfaction, and richer people higher satisfaction. However, the report states, these personal factors don’t seem to account entirely for the variation across metropolitan areas. The researchers note that smaller communities with a population of less than 250,000 tend to report higher average life satisfaction. Also, when sorted by city size, metropolitan areas in Quebec tend to be at the top of the list: Montrealers are the most satisfied among individuals in Canada’s big cities and most likely to report life satisfaction of 8 or higher, Sherbrooke and Quebec are at the top of the mid-size communities, and Saguenay and Trois-Rivières at the top of the smaller metropolitan areas, according to the study. Although the Statistics Canada researchers don’t definitively say why this is, they point to other research that suggests levels of trust and social connections in local communities have an effect on people’s life satisfaction, as does income relative to one’s neighbours and economic inequality. sent via Tapatalk
  19. Where to buy now We tell you exactly which neighbourhoods are set to skyrocket in value. MONTREAL A small slice of Europe on this side of the big pond, Montreal has been dubbed Canada’s sexiest city. With a jam-packed festival season that includes the highly rated Just For Laughs comedy festival and the Festival International de Jazz, along with an array of local boutiques, restaurants and bistros, Montreal offers something for everyone—as long as you can find a job. While the national unemployment rate hovers at around 7%, Montreal’s unemployment rate sits at 8.2%. Still, the city saw a 4% rise in its population from 2011 to 2012 and announcements of inner-city rejuvenation—including the new McGill University Health Centre—are helping bolster property prices. Real estate is still cheap compared with other major Canadian cities—the average price of a home on Montreal Island is $481,386, and if you broaden the boundaries and look at the Greater Montreal Area, including the North and South Shores, the average home price is $324,595. “It’s comparatively cheaper than say Toronto or Vancouver, but we also battle to attract jobs,” explains Jeffrey Baker, a realtor with Royal LePage Dynastie. The best real estate opportunities right now are on the island itself. First on our list is the Rosemont/La Petite Patrie area, known locally as Little Italy. “This area is very, very hot,” says Baker. A big reason is that the neighbourhood is on the northern border of the Le Plateau/Mont-Royal area—a vibrant, popular and expensive place located near downtown. “Rosemont/La Petite Patrie isn’t a Plateau want-to-be,” says Baker. “It has its own distinct character. But many people who start out renting in Plateau end up buying here.” In fact, this is what Matthew Taylor, 50, and his 40-year-old Rosa De Leon did earlier this year. “We bought in mid-December after living and renting for 20 years in Plateau-Mont-Royal,” says Taylor, a CEGEP teacher at Dawson College. While the couple originally wanted to purchase in Plateau, they found they were priced out of the market. “Everything we looked at within our budget was far too small for a family of four,” says Taylor. That’s when the couple started looking at other neighbourhoods, eventually settling on a duplex in La Petite Patrie. “We really love checking out the local restaurants,” says Taylor. They aren’t the only ones. In the last three years, as the neighbourhood has become popular with buyers, prices have zoomed up 23%. “This is a high density area with lots of picturesque homes,” Baker says. In recent years many older textile buildings were converted into lofts, explains Amy Assaad, a Royal LePage Heritage realtor. This provided great first-time buyer opportunities, while helping to gentrify the neighbourhood. If the average property price of $468,000 is a bit daunting, consider our next top neighbourhood of Villeray/Saint Michel/Parc-Extension. Directly to the north, this large area has a population of 142,000 residents. The main draw is the neighbourhood’s affordability. Average property prices are more than $100,000 cheaper than neighbouring communities and the area is experiencing dramatic growth. “Lots of condo conversions are taking place in this community,” Assaad says. David Schneider, a Sutton Group Immobilia realtor and history-buff, explains that historically the neighbourhood has been one of the poorest urban communities in Canada. “Cheap rents meant students have been living here for decades. This, in turn, has made the area cool.” The third neighbourhood in our Montreal ranking was South-West (also known as Sud-Ouest). Homes in this area are 11% cheaper than the average Montreal Island home, but area prices have appreciated 40% in the last three years. “I’ve been buzzing about this neighbourhood for the last five years,” says Schneider. “Property values here are undervalued.” It’s an opinion shared by Nikki Tsantrizos, 29, and her partner, Steve Lavigne, 34. Two years ago, the couple started looking in the St. Henri district of South-West for a place to buy. “We’d rented in the area for 10 years and despite being a rough area, just loved it.” That was two years ago. Now, a full reno later, the value of their home has risen 40%. “When we bought there were strip clubs, hotdog stands and poutine shops,” says Tsantrizos. “Now these have been replaced by trendy cafes and boutiques.” But despite being close to downtown, the canal and the Atwater Market, this area’s reputation has been marred by social housing projects. Even so, recent developments are starting to put the community on the map. For instance, a high-tech hospital—slated to open in 2015—is prompting speculation on future home prices. Two other neighbourhoods to consider are Verdun and LaSalle—both on the southern tip of the island. While Verdun is an older neighbourhood (originally settled by the Irish) it’s got a lot of potential. Despite a three-year appreciation of 22%, families may be leery of the area, given its high crime rate. Still, with its close proximity to the canal, downtown, the Métro (Montreal’s subway system) and Concordia University, it’s only a matter of time before the area experiences true gentrification. Homes in LaSalle are also rising, with an 11% increase in the last year alone. “Though it’s much more suburban than the other four neighbourhoods—and not as well-served by transit—it provides a less dense community that’s very family-oriented,” Schneider says. It’s also a place known for having some of the best shopping in the city. http://www.moneysense.ca/property/buy/where-to-buy-now-2
  20. The housing boom may be over, but there's no bust in sight Jay Bryan, Canwest News Service Published: Tuesday, August 12, 2008 With housing demand weaker, price gains have already slowed sharply.Reuters fileWith housing demand weaker, price gains have already slowed sharply. Ever since last year, forecasters have been predicting that Canada's hot housing market was about to slow to a much more sedate pace. Well, it's happened. Except that sedate is hardly the word for the 14% plunge in construction activity that turned up Monday in the housing starts data for July. To many, this sharp drop will be downright alarming, raising fears that the catastrophic housing meltdown in the U.S. has now spread across the border. They can relax. Or at least most of them can. Maybe a little nervousness is appropriate for those who bought near the market's peak in one of Canada's very high-flying centres of real-estate inflation -- places like Calgary, Edmonton, Vancouver and Victoria. In these towns, warns BMO Capital Markets economist Sal Guatieri, soaring home prices so greatly outstripped income growth that it wouldn't be surprising if real-estate values had to drop significantly in order to restore affordability to the market. But in most of Canada, what we're seeing looks like a normal return to earth after a six-year-long real-estate boom. The frenetic construction and double-digit price gains of yesteryear couldn't last forever, so now we've entered the cooling-off phase. Economic forecasters think the outlook for most cities is for prices to stagnate, or maybe edge down a little, while the level of construction eases, but doesn't collapse. If this doesn't seem to fit with the outlook foreshadowed by July's big drop in construction activity, that's simply because you're reading the numbers too literally. No one month's statistics mean very much, especially if you take them at face value. When you look at a chart of housing starts over a period of many months, it looks like a mountain range, with soaring peaks and deep valleys. Most of this volatility is caused by builders of condominiums and other multiple-unit developments, where a few projects more or less can make the numbers skyrocket or plummet. That's why analysts take the single-family starts more seriously. They're a lot less volatile and, thus, a better indicator of where the market is really heading. In July, single-family housing starts fell by just 7%. As well, nearly all of July's decline was in Ontario -- "think Toronto condos," says BMO Capital Markets analyst Robert Kavcic. And exceptionally wet weather in Eastern Canada likely slowed construction, notes Millan Mulraine of TD Securities. Outside of Toronto, most big cities saw only modest changes in total activity. So what can we expect for the coming months? Continued slowing, most likely, but certainly no savage nationwide meltdown on the model of the U.S. Royal Bank economist Paul Ferley notes that in 2007, Canadian housing construction remained little changed from the banner year of 2006, even as U.S. activity plummeted 26%. He thinks Canada's housing starts will drop by only about 5% this year, compared with a 30% plunge south of the border. Mr. Ferley thinks that 2009 will finally bring a significant drop in Canadian activity, but nothing like the U.S. collapse, with starts down by about 15%. The brake on construction is the slowdown in sales that started months ago, with sales figures in each month this year down from the comparable period in 2007, Mr. Guatieri noted. It's quite likely that this will continue into next year, since the U.S. economic slowdown and the recent sharp decline in commodity prices are both beginning to bite in Canada, bringing declines in job creation. With housing demand weaker, price gains have already slowed sharply. With a 5.4% average gain over the past year, Montreal is doing a little better than the national average of 3.5%. Toronto is near average at 3.8%. The hardest-hit include mainly big Western cities, with Vancouver up 1.8%, Edmonton 1.6%, Calgary a mere 0.1% and Victoria down by 0.4%. But even if the boom is over, there's no national bust in sight. Without the severe financial excesses and fraud that devastated the U.S. mortgage market, undermined that country's banking system and brought soaring numbers of home foreclosures, Canada simply doesn't have the conditions to trigger a housing collapse.
  21. No housing crash in Canada "In most eastern cities, builders continued to enjoy modest price gains." JAY BRYAN, The Gazette Published: 9 hours ago The latest data out of Canada's housing market demonstrate two things clearly: it's going through a significant slowdown, but, just as important, it's not following the U.S. market down the drain. The number of new homes started by Canadian builders in October was down, but only by three per cent, much less than expected by forecasters. So far this year, notes economist Paul Ferley at the Royal Bank, average monthly starts are down by less than five per cent compared with the plunge of 30 per cent seen in the U.S. Still, housing starts in Canada have been drifting down since they peaked at an annual rate of 277,000 two and a half years ago. The rate in October was 212,000. Market analysts believe that pent-up demand for homes has been increasingly satisfied over the past few years. As well, rising prices squeezed affordability for those looking for a first home. Now most analysts believe the construction decline will accelerate in the coming year, as a slowing economy puts more pressure on would-be buyers. Nevertheless, new-home prices as of September (these numbers take longer to compile), were holding up well, reflecting the same resilient demand that has kept home construction busy. A survey by Statistics Canada finds that average new-home prices across Canada were up by 2.1 per cent in September from a year earlier, although there's a lot of variation among major cities. The sharpest price changes were in cities with resource-based economies. In St. John's and Regina, where local booms have yet to peter out, prices were up by 23 per cent. But in Alberta, where an oilsands investment frenzy has cooled recently, gains have ended. In Calgary, the average new home price was down by one per cent. In Edmonton, it fell by six per cent. And after having soared higher than anywhere else in Canada, prices stalled in Vancouver (up 1.4 per cent) and Victoria (no change). In most eastern cities, builders continued to enjoy modest price gains, with the average new home up by 4.8 per cent in Montreal, three per cent in Toronto, 6.1 per cent in Quebec City and 4.3 per cent in Ottawa-Gatineau. There was a similar regional divide in housing starts, with British Columbia and Alberta down sharply from a year ago, while Atlantic Canada, Quebec and Ontario are up. As a slowing economy squeezes prices, it's likely to be the highest-priced markets that will show the most substantial price losses, suggested Douglas Porter, deputy chief economist at the Bank of Montreal. Canada's housing downturn is likely to be much milder than the one in the U.S. because it's fundamentally different, he said. The U.S. housing collapse stemmed from a home-price bubble whose collapse is taking down the whole economy, but the key influence on Canada's generally healthy market is merely the predictable drag from a North American recession. However, a few cities in Canada witnessed such big price gains that they're likely to sell off sharply, Porter said. When the latest resale prices for existing homes come out late this week, he expects to see continued drops in Canada's highest-priced cities: Vancouver, Calgary and Toronto. In Quebec and Atlantic Canada, existing home prices have continued rising and should continue to hold up relatively well, he predicted, because their more modest growth remained tied to fundamentals like average incomes. As of September, the average Montreal resale price was up by 4.4 per cent from a year earlier, while Halifax was ahead 10 per cent. By contrast, Toronto was down three per cent, Calgary was off six per cent and Vancouver had lost eight per cent. [email protected]
  22. GDS

    Tuition 2008

    2007/2008 2008/2009 Canada $4,558 $4,724 Newfoundland and Labrador $2,632 $2,632 Prince Edward Island $4,440 $4,530 Nova Scotia $6,110 $5,932 New Brunswick $5,590 $5,590 Quebec $2,056 $2,167 Ontario $5,388 $5,643 Manitoba $3,271 $3,276 Saskatchewan $5,015 $5,015 Alberta $5,122 $5,361 British Columbia $4,922 $5,040 Undergrad tuition rises to average of $4,724 a year: StatsCan CBC News Full-time Canadian undergraduate students paid an average of $4,724 in tuition for the 2008/2009 academic year, an increase of 3.6 per cent over the previous year, Statistics Canada said Thursday. The rise, which follows on the heels of a 2.8 per cent increase in the 2007/2008 academic year, was especially prominent in Quebec, Ontario, Alberta, British Columbia and Prince Edward Island. Fees held steady in Newfoundland and Labrador, New Brunswick, Manitoba and Saskatchewan, and dropped in Nova Scotia. Despite the drop in Nova Scotia — the result of the implementation of the Nova Scotia University Student Bursary Trust in March 2008 — students paid the highest fees anywhere in Canada: $5,932. Quebec ($2,167) and Newfoundland and Labrador ($2,632) had the lowest tuition fees. Statistics Canada analysts were at pains to point out that the average annual increase over the last decade has outpaced the consumer price index. The CPI is a way of measuring the cost of items purchased by a typical Canadian in any given month, and includes shelter, food, entertainment, fuel and transportation. In the last 10 years, tuition has increased annually an average of 4.4 per cent — it was $3,064 in 1998/1999. In contrast, the CPI rose at an annual average rate of 2.3 per cent. Meanwhile, tuition fees for full-time undergraduate international students increased 3.9 per cent on average to $14,495 compared to the previous year. Canadian graduate students paid 3.3 per cent more for tuition than a year earlier, with an average of $5,777 in fees this fall. Tuition fees don't include additional compulsory fees, such as those for athletics, student health services and student associations, which increased 3.3 per cent from a year earlier. On average, Canadian undergraduate students paid $695 in additional compulsory fees in 2008/2009, up from $673 a year earlier.