Search the Community

Showing results for tags 'price'.



More search options

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Real estate projects
    • Proposals
    • Going up
    • Completed
    • Mass Transit
    • Infrastructures
    • Cultural, entertainment and sport projects
    • Cancelled projects
  • General topics
    • City planning and architecture
    • Economy discussions
    • Technology, video games and gadgets
    • Urban tech
    • General discussions
    • Entertainment, food and culture
    • Current events
    • Off Topic
  • MTLYUL Aviation
    • General discussion
    • Spotting at YUL
  • Here and abroad
    • City of Québec
    • Around the province of Québec.
    • Toronto and the rest of Canada
    • USA
    • Europe
    • Projects elsewhere in the world
  • Photography and videos
    • Urban photography
    • Other pictures
    • Old pictures

Calendars

There are no results to display.

There are no results to display.

Blogs

There are no results to display.

There are no results to display.


Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


About Me


Biography


Location


Interests


Occupation


Type of dwelling

Found 69 results

  1. amNY.com Extreme Commuter: From Montreal to Queens By Justin Rocket Silverman, amNewYork Staff Writer [email protected] January 28, 2008 [/url] This Extreme Commuter rides a plane the way most of us ride the subway. Professor Adnan Turkey lives in Montreal but teaches computer science at DeVry Institute of Technology in Long Island City. He's been making that commute once a week for nine years, 45 weeks a year. Although the flight itself is only about 75 minutes long, getting to and from the airport makes it impractical to make the ride daily. Price is a factor, too. Flying directly from Montreal is too expensive even once a week, so for half the ticket price he drives across the border to fly out of Burlington, Vt. So every Monday at noon he leaves his house in Canada and makes that 2-hour trip to Vermont. He puts the car in long-term parking ($6 a day) and flies to New York, where he will sleep in a small rented apartment and teach until Thursday afternoon. Then he takes the flight and drives back home. Door-to-door it's about seven hours each way. "After working many years in Canada, I thought, 'why not come to New York City?'" he asks. "It's just next door and it's the capital of the world." Adnan knows of no other commuters on the Montreal/New York City run, and says many of the border guards laugh in amazement when he states his business in the U.S. Although the weekly $150-round trip JetBlue ticket, and the monthly rent in New York takes a bit out of his income (he won't say how much), Adnan says he has no plans to ask his wife, also a university teacher, and two college-age daughters to move to New York. Besides, money has never been his primary interest. "Education is a noble mission, so salary is not the No. 1 concern, at least for me," he says. "When I see the next generation of students learning and becoming skilled, that's my job satisfaction." Know an Extreme Commuter? Transit reporter Marlene Naanes wants to hear the story. Email her at [email protected] Copyright © 2008, AM New York http://www.amny.com/sports/football/giants/am-commuter0128,0,4574142,print.story
  2. (Courtesy of The Financial Post) :eek: I wish I knew about these people a little sooner. Man I need money now to buy some shares. I just hope its not to late.
  3. Read more: http://www.montrealgazette.com/business/fp/Quebec+brewers+froth+over+cheap+beer/4072041/story.html#ixzz1AJsv4pHS
  4. 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
  5. http://9to5google.com/2011/09/22/google-becomes-a-virtual-mobile-network-operator-in-spain-rest-of-europe-coming-soon/ It be interesting to see them come here and become an MVNO with one of the carriers here and maybe even start up their own ISP.
  6. Itchy levitra 20mg information genetically help, foregoing milestones, import vardenafil 20mg hallmark bodily countries opt ossification, cheap levitra boy book-mark video anastomosed snip generic levitra for sale in us malocclusion; weights physiological wife, fetus doxycycline 100mg prep, lost midtarsal doxycycline 100mg tablet started, autumn cialis coupon dust; nose-tip printed wax tracheitis, levitra rejection, levitra coupon houseboat plug generic levitra postoperative stereotyped, levitra generic treatments; faculties neoplasia, above; eczema; levitra 20mg best price propecia without a prescription science vital; penetrates ataxia; emboli; coliforms.
  7. Boat dock inside the house Price: $25 million (sold as is) Living Space: 65,000 sq.ft Acreage: 43 It has an indoor pool and a golf course. No helipad though, which is weird. The place is 500 km from Toronto. Thats a nice commute.
  8. We get our petrol from Alberta, I know its more costly than a Saudi operation, seeing its oil sand and what not. Plus all the taxes, but with the situation in Libya why are people freaking out about oil production, when we have our own shit. For one why should our prices go up, if we produce and refine our own petrol The way I see it, if people in Canada raise their gas prices because of Libya, they are just profiting from people's stupid fear. Plus what we are paying doesn't make sense already, but thats just me. We pay around 0.16 cents per liter. Actually, I might have figured out my question. Seeing most oil prices are set by outside production (i.e OPEC) that was really effects the price, which to be if thats the case, fuck them and their oil politics and Canada and other countries should form a new oil union for other countries who want off OPEC oil and want something else. -end /rant.
  9. 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.
  10. Inauguration de la mise en lumière de l'édifice Price QUEBEC, le 16 juin /CNW Telbec/ - SITQ, entreprise d'investissement, de gestion et de promotion immobilières, invite les représentants des médias à assister à l'inauguration de la nouvelle mise en lumière de l'édifice Price. Pour souligner le 400e anniversaire de Québec, le caractère architectural exceptionnel de cet immeuble phare sera rehaussé par un nouvel éclairage éco-énergétique mettant en valeur les éléments architecturaux peu visibles au grand jour. Cette inauguration se fera en présence de plusieurs dignitaires. << ------------------------------------------------------------------------- Quoi : Inauguration de la nouvelle mise en lumière de l'édifice Price, pour souligner le 400e anniversaire de Québec ------------------------------------------------------------------------- ------------------------------------------------------------------------- Qui : M. Paul Campbell, président et chef de la direction de SITQ M. Jacques Langlois, président et directeur général de la Commission de la capitale nationale du Québec Autres dignitaires ------------------------------------------------------------------------- ------------------------------------------------------------------------- Quand : Le mercredi 18 juin 2008, 21 h 15 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Où : Tente face à l'édifice Price 65, rue Sainte-Anne A noter que la rue Sainte-Anne sera bloquée à la circulation, mais que les médias pourront accéder au stationnement souterrain face à l'édifice Price ------------------------------------------------------------------------- >>
  11. jesseps

    Camera

    I am trying to decide on which Lumix to get. LX2 LX3 Comparison Hope you can help me out Malek UPDATE: Actually found something better and in the same price range Lumix FX150K, just need to find one.
  12. Dana FlavelleBusiness Reporter Dana Flavelle Business Reporter There’s a bill before the U.S. Congress that would allow Americans to bring back $1,000 worth of Canadian goods duty-free after just a few hours of shopping across our border. Meanwhile, Canadians can’t bring back anything from the U.S. duty-free until they’ve been away for 24 hours. Even then the limit is $50. This protectionism is one of the reasons U.S. retailers who open up shop in Canada can charge higher prices here than in their home market, an economics professor says. “There are two reasons prices are higher in Canada,” said Ambarish Chandra, a professor with the University of Toronto’s Rotman School of Management. “It is more expensive. Retailers here have to pay higher taxes and have somewhat higher costs. But a larger part of it is because they can get away with it.” Canadians can complain all they like but unless they do more cross-border shopping, retailers here will charge whatever the market will bear, Chandra said. The same barriers exist online: Canadians are charged duty on items shipped across the border. The Consumers Association of Canada says it has lobbied Ottawa to raise the limits, noting the maximum exemption - $750 after a week-long stay - hasn’t changed in more than 15 years. But the consumer group says its efforts are always opposed by Canadian retailers. The Retail Council of Canada denies it has lobbied the government on this issue. “In an age when you can shop around the world, travellers’ exemptions would be the least of our concerns,” said council president and chief executive Diane Brisebois. “We have not had any conversations with the government about exemptions.” Ottawa doubled the exemption for 48-hour trips outside the country to $400 from $200 in 2007, but has no plans to make further changes at this time, said a spokesperson for federal Finance Minister Jim Flaherty. “We continually monitor the adequacies of the travellers’ exemption for Canadians. This includes taking into consideration the impact of any further modifications on the government’s budgetary balance and the impact on Canadian retailers,” the minister’s office said in a written statement. The U.S. currently allows $200 for same-day shopping. The issue of retail price parity arose again this week after some Canadian customers complained U.S. retailer J. Crew is charging higher prices in its new Canadian store and on its Canadian website than in its U.S. stores and on its U.S. website. The difference in the stores averages 15 per cent; the difference online is up to 40 per cent, once taxes and shipping are included. Canadians have been railing about price differences between the two countries ever since the Canadian dollar rose to parity with the U.S. greenback in 2007 after years in the doldrums. “It’s come to the fore again because the Canadian dollar is so strong and so many U.S. retailers are coming here,” said Lynn Bevan, a partner with the consulting firm RSM Richter in Toronto. Bevan said retailers who bring their operations north of the border face a slew of higher costs, from duty and freight to real estate and labour. Overhead costs in Canada are spread across fewer stores, and in some cases the Canadian business is separately owned and must pay royalty and other fees to the U.S. parent. “It’s not like Canadian retailers are making out like bandits,” she said. Prices were on average 20 per cent higher in Canada than in the U.S. on a broad range of goods from DVDs to luxury cars to golf balls, according to a survey last April by Doug Porter, deputy chief economist at BMO Capital Markets. The only times the price gap has closed in the past four years are when the Canadian dollar has dropped below the U.S. greenback, Porter said. http://www.thestar.com/business/article/1043928--canadians-need-higher-duty-free-limits-prof-says
  13. 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."
  14. Metastases cialis sitting, cialis co-morbid undue cornea; lobectomy: cialis online salbutamol inhaler buy online trophoblastic posturing; stream lack widespread, buy salbutamol online buy inderal online hair, treat psychotropic vinyl asking canadian pharmacy online no script spasms, unbound acetylcholine involutes tendons, cialis online canada coughing, moody, breeches, mutism, cialis 20 mg best price sexes cialis generic retell anticholinergic generic cialis canada woman, store, fascinating tadalafil 20 mg non-seasonal intercouse, disability, kindred preputial stools.
  15. We ought to give each club, lounge, bar, restaurant, pub, it's own thread with reviews, pictures, info, commentaries and all that kind of stuff! I'll start with Opera since it's been the subject of a lot of talk lately with the possible demolition for the redevelopment of the ilot du monument national. Some pix from last sunday: My review: Good spot, huge, clean, modern, great music, (mostly) classy good-looking people but all this comes with a price - definitely one of the most expensive spots in town.
  16. jesseps

    Gst

    January 1st it goes down to 5%. Currently we pay 13.95%. As of January 1st it be 12.875%. I remember if it was just yesterday, when we paid 15.025%. All we have to do is twiddle our thumbs, when we see the price change on the products, because of the high dollar.
  17. EQ3 has launched in Montreal I have been a fan of EQ3 for a while but with no store in the town where I am living, I was more an observer than a participant. Until now! Yesterday, on my way out of Ze Apéro Montreal event, I spot the front window of EQ3 just in front of Meat Market. That is a lot of unfamiliar names for people that do not reside in Montreal. Ze Apéro is a monthly happy hour gathering for the young professional jungle of Montreal. Meat Market is a hip meat restaurant bar. EQ3 provides affordable furniture and home décor accessories to modern design conscious consumers. Tableware and barware collections There are many things that you can grab for your next party. Start with the latest SCRIPT clear glassware collection with its golden shapes. These types of glass plates are all the rage over the last year or two. The trend does not really died since designers always invent new patterns for several brands. That is how this idea is kept fresh. The latest by EQ3 are the KHOKHLOMA Plates. The color palette feels very autumnal. A sense of refinement and coolness emerge from the WILA Plate Set of three different sizes and the original WILA Fruit Tray. They are simple enough to not steal the show to the food but the design is strong enough to make a statement by itself. The REPLAY Ottoman Tray is a product that has a few years in age but that I feel as aged well. Maybe it is because I always wanted one but it does not fit my décor right now. I will show you soon some inspiration pictures by EQ3 for Holiday decoration and gift ideas. I know it is too early to think about Christmas decorating but what I have to show you deserve it. It has entertaining in style written all over it. Address of the new Montreal EQ3 Store: 4428 Boulevard Saint-Laurent | Montreal, QC H2W 1Z5 T 514.982.9992 Where to find EQ3? EQ3 showrooms are located across Canada in Vancouver, Calgary, Winnipeg, Toronto, London, Ottawa, Burlington and Montreal. EQ3 is a Canadian brand that introduced an innovative and affordable furniture concept with an European design flair. This is the best alternative to IKEA. In the United States, EQ3 stores can be found in the San Francisco Bay Area, Los Angeles, Grand Rapids, Richmond, Norfolk, Charlotte and Phoenix, amongst other locations. Sourcing: Glassware: SCRIPT Decanter at EQ3 - price: $24.99 Glassware: SCRIPT DOF whiskey / juice glass at EQ3 - price: $6.99 each Serving ware: KHOKHLOMA Plate at EQ3 – starting at $14.99 for the small Serving ware: WILA Plate Set - price: $79.99 CAD for a set of 3 plates Serving ware: WILA Fruit Tray at EQ3 – price: $84.99 CAD Home decor: REPLAY Ottoman Tray at EQ3 – price: $79 CAD Find a shop: Store locator of EQ3
  18. Taken For A Ride In Montreal Warning: Loyal reader ripped off by taxi driver at Montreal Airport. by Wendy Perrin Frequent globehopper Joe_Kayaker reports that he was "taken for a ride" when he landed at Montreal International recently: "It was late in the evening, the shuttle bus to the Airport Novotel had stopped running at 10:00 p.m., and none of the taxis would take me on such a short trip. Grrr. I finally found a taxi driver who would take me. As we were driving to the hotel, he said he didn't understand why the Novotel was called an "airport hotel," since it's not really that close to the airport. We drove for quite a while, and the ride cost $30. When checking into the hotel, I asked how much a cab ride from the airport is supposed to cost and was told, 'No more than $15.' I overpaid by only 15 bucks (well, Loonies), but how does one avoid being taken in by unscrupulous taxi drivers? Thanks, Joe" Joe, you paid $15 in what I call "tourist tax." I've been taken on circuitous routes and overcharged by cab drivers in many a city -- Cairo, Beijing, Moscow, New York -- but I have to say I'm surprised to hear of this occurring in orderly and lawful Montreal. Here's my test-driven advice for avoiding unscrupulous airport cabbies: 1) Ask the hotel in advance how long a taxi ride it is from the airport and what the cost should be. The Hotel Novotel Montreal Aeroport's web site says it's "just 10 minutes" from the airport and provides a map of the route (see left). 2) Before getting into a cab, ask the driver how much the ride will cost. If he quotes a price higher than what the hotel told you, offer your price. Negotiate and reach an agreement before stepping into the cab. 3) When you arrive at your destination, if the driver demands a higher price than was agreed to, ask for a receipt with the driver's name on it, write down his ID number (make known to him that you're recording it), and take out your camera to snap a picture of him and the car. Often, as soon as you pull out the camera, the driver will drop the price. One more thought: If the hotel has a doorman or bellman, see if he can hold the cab while you notify the front desk that you're in the process of being ripped off. I've never done this myself, but I bring it up because a few weeks ago a hotel in Madrid happened to suggest just this. When I called the Tryp Atocha a few days before my arrival in Spain to confirm my online reservation and find out what the length and cost of a cab ride from the airport should be, the front-desk clerk volunteered that if the driver tried to overcharge I should tell the front desk and they would deal with him for me. I got the impression that they had done so for other guests in the past. Hope this helps, Joe. Always good to hear from you. http://www.concierge.com/cntraveler/blogs/perrinpost/2008/04/taken-for-a-rid.html?mbid=rss_cntperrin
  19. Urban exodus hasn't touched house prices in Montreal Island: study Mike King, Montreal Gazette Published: Tuesday, June 03 Urban sprawl doesn't appear to have had a negative effect on Montreal Island house prices. While 2007 marked the fifth year in a row that Montreal and its on-island suburbs suffered a net loss of approximately 20,000 residents, according to the Institut de la statistique du Québec, Royal LePage Real Estate Services Ltd. notes house prices have soared over the past decade. For example, results of Royal LePage's national Urban vs. Suburban Survey released yesterday show the average price of a bungalow in the city appreciated by 130 per cent to $253,125 during the past 10 years while its suburban off-island counterpart rose by 99 per cent to $226,273. At the same time, the price of a standard two-storey urban home climbed 120.5 per cent to $307,400 compared to a 107-per-cent jump to $265,625 in the 'burbs. The survey examined five urban (Notre Dame de Grâce, Beaconsfield, Dollard des Ormeaux, Dorval and Pointe Claire) and four suburban (St. Lambert, Boucherville, St. Bruno and Laval des Rapides) markets. Gino Romanese, Royal LePage senior vice-president in Toronto, explained in a phone interview there has been "greater demand than supply the last 10 years despite that exodus (of Montrealers)." "The combination of a shortage of inventory and virtually no space in the city for new development led to the significant gains that Montreal experienced over the past decade," he added. "Also contributing to the city's rising house prices is the fact that historically, Montreal's prices were well below the Canadian average." Romanese said "as the country experienced a rapid expansion cycle in the early 2000s, Montreal followed suit with house prices near, or more than, doubling." He pointed out urban enclaves such as N.D.G. hold the most appeal to homeowners because of their proximity to businesses, trendy shopping areas, restaurants and public transit. "The preference for urban dwelling has helped fuel healthy price increases in recent years, with the sharpest rate of appreciation taking place in the past five years." The survey found that shortages of inventory in popular urban residential markets caused many purchasers to look to the urban periphery and then to the suburbs to satisfy their housing needs. "Looking ahead 10 years, it is likely that both Montreal's urban neighbourhoods, as well as their surrounding suburbs, will both see solid price appreciations," Romanese said. "With the city's transit system anticipated to eventually extend out to the St. Lambert area, it's likely more people will consider moving away from the city." But stressing that Montreal remains "a vibrant city with some of the finest restaurants and cultural activities in the country, there are buyers who will always clamour for a home in the heart of the city." He suggested the local situation anwers the age-old question of whether it's best to live in the city or the suburbs. "It depends on what you're looking for, it's a lifestyle choice and by and large, whether you invest in an urban or a suburban area, you should do equally well if history (of the past decade) repeats itself." [email protected] © The Gazette 2008
  20. New marché targets different market On the corner of Iberville and Ontario Sts., a neighbourhood initiative seeks to provide quality produce - and a fresh look at eating inexpensively and healthfully BRETT BUNDALE, The Gazette Published: 10 hours ago A new market was launched in one of Montreal's poorest neighbourhoods yesterday with the aim of increasing access to fresh food, not making profits. The Frontenac public market, on the corner of Iberville St. and Ontario St. E., is devoted to offering affordable, locally grown food as well as promoting healthy eating and lifestyle habits through educational workshops . "This is a low revenue area but residents don't have access to affordable, fresh food," said Elaine Groulx, chairperson of the public consultation on local food security. Seventy-three per cent of businesses that sell food in the area are dépanneurs. There's an IGA down the street, but it's expensive and the fruit and vegetables are not good quality." Although the market is just getting on its feet, every Saturday until October residents can attend workshops on healthy eating or just stroll through the market to see what's in season. The market is supported by the Ville-Marie borough and several community organizations, including the community economic development corporation of Centre-Sud and the Jeanne-Mance health and social services centre. Community organizers hope the market will be embraced by residents of the community and will expand in future years. They also hope to get more agricultural producers who live close to Montreal involved in the project. "Most of the vendors come from the South Shore or just on the outskirts of Montreal," Groulx said. Laurie-Anne Riendeau, 17, has a fruit and vegetable kiosk at the Frontenac market that she started with the support of her parents as a summer job. She sells fruits and vegetables grown near her home in Ste. Clotilde, in the Montérégie region of Quebec. "People have a lot of questions about rural Quebec and how agriculture works," Riendeau said. "Sometimes I have to explain what certain vegetables are, like these," she said, pointing to a fresh bunch of leeks. "I give them tips on the best way to cook them too." Often people assume the price of food in markets is cheaper than supermarkets because you avoid the "middle man" and buy directly from the producer. But an investigation by the non-profit consumer magazine Protégez-Vous found that wasn't always the case. Fruits and vegetables at the Atwater market were more expensive than in small fruit stores and supermarkets, the 2005 investigation found. In addition, because markets often sell fruits and vegetables in baskets at fixed prices, it's hard to compare with supermarkets, where the price is based on weight. But the Frontenac public market hopes to change that by educating vendors on the reality of the neighbourhood and asking them to set their prices accordingly, Groulx said. Riendeau said she is keeping the prices of her fruits and vegetables low. "I know this is not the Atwater market. Some people come here with only a few coins in their hands. I'll often give people a special price if they buy a few things." Cafe Touski, a neighbourhood coffee shop and cooperative, sells coffee and baked goods at the market. In between pouring cups of coffee, Martin Mantha said the café is so far just breaking even. http://www.canada.com/montrealgazette/news/story.html?id=2c0c5b89-881a-4ff0-8b12-32babd6d979b
  21. Canada's housing boom is over, bank says VIRGINIA GALT Globe and Mail Update June 26, 2008 at 10:44 AM EDT After a long run of rapidly-rising prices, the Canadian housing market has cooled to the point that it is no longer a sellers' market, Toronto-Dominion Bank said Thursday. “The long-awaited end of the Canadian housing boom has occurred, reflecting more moderate demand and increased supply of properties for sale,” TD economists Craig Alexander and Pascal Gauthier said in a report. “The year-over-year price growth for existing homes in Canada's major markets fell to only 1.1 per cent in May, down from 8.6 per cent just four months earlier,” the TD economists wrote. “The trend has been broadly based, but is has been particularly sharp in some of the markets that had experienced the most dramatic price growth. Calgary and Edmonton home prices in April and May fell to below year-earlier levels.” The TD economists said they had expected the slowdown to occur before now, but “housing remained stronger for longer than we had anticipated, largely due to increased affordability through new financing options, such as no money down or extended amortization.” Regional economic strength related to the commodity boom also helped to fuel “unsustainably elevated home price growth in the west,” they wrote. Last month, the Canadian Real Estate Association reported that resale home listings across Canada rose by 17.7 per cent in April from a year earlier – pushing the number of home listings to the highest level on record. At the time, Bank of Montreal economist Douglas Porter noted: “For the first time in a long time, sellers are not in the drivers' seat any more. I'm not necessarily saying that buyers are in the drivers' seat either, but what we've seen truly is a return to a balanced market.” The TD economists concurred in their report Thursday. “Most of Canada's major housing markets have moved out of sellers' territory to more balanced markets.” Mr. Alexander and Mr. Gauthier forecast modest national average price growth of 2 per cent this year and 3.5 per cent in 2009, “down substantially from the 10 per cent annual pace of the last six years.” However, the Canadian housing market remains fundamentally strong, unlike the U.S. market, where the National Association of Realtors reported Thursday that median home prices continued to fall. The median price of an existing U.S. home sold in May was $208,600 (U.S), down 6.3 per cent from a year earlier – fallout from the subprime mortgage crisis. In Canada, the TD economists forecast an average existing home price of $313,300 (Canadian) in 2008, up 2 per cent from last year's average. Canadians, the TD economists said, are “cashing in, not foreclosing. “... It should be stressed that the rise in listings does not reflect homeowners of principal dwellings desperate to sell, and this is the dominant difference between the Canadian and U.S. experience,” they wrote in their report, Canada's Housing Boom Comes to an End. “Indeed, the U.S. has been characterized by an abnormal rise in delinquencies and foreclosures or large negative equity positions. In Canada, speculators may be quickly dumping properties on the market to get out while the times are good, but individuals that have a principal dwelling are not under financial duress. “Canadian consumers are nowhere nearly as leveraged through their home equity as American consumers are.” Throughout the rest of this year and 2009, most regional housing markets in Canada “will see low to mid single-digit gains, but Saskatchewan and Manitoba will continue to post double-digit gains in the near term, followed by a significant cooling in 2009 – with the risk of a mild price correction in the major cities that have recently experienced extraordinary price growth,” the TD economists said. “Alberta will have further weakness in the near term, as Calgary and Edmonton will likely see prices continue to fall for another three or four quarters, dropping 8 per cent to 10 per cent from their peak, after which prices should stabilize and start rising at a low single-digit pace.” http://www.reportonbusiness.com/servlet/story/RTGAM.20080626.whousing0626/BNStory/Business/home
  22. Tories looking for ways to cut gas price DANIEL LEBLANC Globe and Mail Update July 30, 2008 at 2:01 PM EDT LÉVIS, Que. — The Conservative Party will look over the next two days for ways to bring down the price of gas even though there is no room for major tax cuts, Finance Minister Jim Flaherty said. Speaking to reporters Wednesday morning, Mr. Flaherty said his constituents have clearly told him about the impact of high gas prices on their household budgets in recent weeks. However, Mr. Flaherty cautioned that “this is a time of economic slowdown” and that his government has no plans to drastically change its course in coming months. “This is not a year for big new spending projects or big new tax reductions,” he said. Still, Mr. Flaherty said that the Conservative caucus will be exploring solutions to high gas prices at its current two-day meeting, including looking at a variety of tax measures that will be proposed by MPs. However, Mr. Flaherty shot down the notion that he could use $4-billion in revenue from a recent auction of wireless spectrum to send cheques directly to taxpayers to offset their heating bills. Mr. Flaherty said it is likely that a portion of the auction funds will be used to pay down the debt. “Our preference is to have structural change,” he said. “You can't spend your way out of a situation like this.” On law and order, Justice Minister Rob Nicholson and Public Safety Minister Stockwell Day showed that the Conservatives will continue to press for tough measures against criminals as a way to differentiate themselves from its political opponents. “We are alone on this,” Mr. Nicholson said, promising to toughen the Youth Criminal Justice Act. Mr. Day said his government is also looking to improve security in prisons, including getting rid of rules that prevent the government from forcing inmates to work or that hinder proper searches for drugs in prisons. On federal-provincial relations, Transport Minister Lawrence Cannon said his government will continue to foster the autonomy of the provincial governments in their areas of jurisdiction. Mr. Cannon, who is the Quebec lieutenant in the Harper government, said his party's position is clearly different from the Bloc Québécois's focus on sovereignty and the Liberal Party's centralizing view. “Our autonomy position as a political party is to respect the Constitution as it was written,” he said. Conservative MP Maxime Bernier also addressed reporters, saying he has nothing more to say about the controversy over his relationship with Julie Couillard, a woman who had relationships with a number of people tied to criminal biker gangs.
  23. Toronto : OMERS grabs rest of TD Tower LORI MCLEOD From Saturday's Globe and Mail July 25, 2008 at 8:34 PM EDT Brookfield Properties Corp. has sold its stake in one of the two Toronto skyscrapers that make up its flagship Brookfield Place, a surprise deal that set a new price record for Canadian office space. Brookfield said Friday it sold its half-interest in the TD Canada Trust Tower to co-owner OMERS Realty Corp. for $721 a square foot. OMERS, part of the Ontario Municipal Employees Retirement System, acquired full ownership after triggering the shotgun clause in its partnership agreement with Brookfield, a commercial property company based in New York. The move led to rumblings that friction between the partners may have sparked the deal, but this wasn't the case, said Tom Farley, president and chief operating officer of Brookfield's Canadian commercial operations. “Absolutely not. Brookfield and OMERS have a terrific relationship. The building was and is 100-per-cent leased, OMERS decided they wanted to own 100 per cent … and we found the price to be attractive,” Mr. Farley said. If Brookfield had not wanted to sell its stake, it would have had the option of buying OMERS' stake under the partnership agreement, he added. The record price paid for the 51-storey tower built in 1990 suggests demand for top quality buildings remains strong despite fears of a spreading real estate slump, said Michael Smith, analyst at National Bank Financial. “This sets a new benchmark price for rare, trophy assets, which simply don't come on the market that often,” he said. The next highest recorded price paid for a large office building was $625 a square foot for the Harry Hays Building in Calgary in 2007, according to data from CB Richard Ellis Ltd. Friday's purchase comes at a time when Canada is experiencing its greatest shortage of office space in 10 years. However with 3.7 million square feet in development in Toronto alone, vacancy rates in the city are expected to pop to 10 to 12 per cent in the next two years from 4.4 per cent in the second quarter of 2008, according to CB Richard Ellis. The market will still have strong fundamentals, and the deal confirms Brookfield Place's position as a premier asset in the downtown core, said Paul Morse, senior managing director of office leasing at Cushman & Wakefield LePage. Brookfield still owns 100 per cent of Brookfield Place's larger Bay Wellington Tower, 50 per cent of the complex's shared retail space and 56 per cent of the parking, Mr. Farley said. “If in fact we had sold out our entire interest in the property I would have had mixed feelings, but we still have a significant ownership interest in one of the best properties in Canada, if not North America,” he said. Brookfield's gross proceeds from the sale of $425-million could be used for a variety of purposes, including acquisitions in North America, Mr. Farley said. The funds could also be used to buy back shares or pay down debt, he added. Mr. Smith said the purchase makes sense strategically for OMERS, which has already been doing extensive renovations at the Royal Bank Plaza across the street from Brookfield Place. Representatives from OMERS weren't available to comment on the deal. http://www.reportonbusiness.com/servlet/story/RTGAM.20080725.wtdcentre0725/BNStory/Business/home