Tuesday Nov 12, 2003 Le Journal de Montréal
Vancover $311,078 Toronto $276,666 Montréal $150,000 Moncton $94,358 Charlottetown $86,363
La Jolla $1,245,309 San Francisco $88,250 Boston $643,945 $557,927 New York $532,904 Dallas $209,071
WASHINGTON (MarketWatch) - U.S. home builders broke ground on 8.2% more homes in April, led by a 36% increase in multi-family units, the Commerce Department estimated Friday. Housing starts rose to a seasonally adjusted annual rate of 1.032 million, far more than the 954,000 estimated for March or the 939,000 expected by economists. Starts of single-family homes declined for the 12th straight month, falling 1.7% to a seasonally adjusted annual rate of 692,000, the lowest since January 1991. Building permits increased 4.9% in April to a seasonally adjusted annual rate of 978,000
Monday 05 May 2008
Property in Russia
While Russian oligarchs are heading for London, canny British investors are now setting their sights on Moscow and beyond.
The future of the Menie sand dunes is being considered by ministers
Aberdeenshire councillors have voted to support Donald Trump's application for a £1bn golf resort when it comes before a public inquiry.
A group of councillors called on the council to stick by the original committee decision to refuse the application.
They warned the position could be open to legal challenge under planning law.
However members were told the decision to refuse had been overtaken by the Scottish Government calling it in.
Sunday Apr 20, 2008 Westmount property market defies Canadian slowdown Westmount property market defies Canadian slowdown
At a time when houses for sale are flooding the market in other Canadian cities, there is a perceived..."A strong Westmount market is an indication that there is not too much to fear about the Montreal market," said Andy Dodge, a real estate consultant and appraiser who specializes in properties in the tony enclave.
"It's not a lack of demand but a lack of supply in Westmount. "There has generally been more confidence in the market here in Westmount since 1995," Dodge said.
"In 2007, the average price of a house sold in Westmount was $1.2 million," Dodge said.
Of the 15 homes sold last month, 10 were for houses over $1 million, he added.
Friday 11 April 2008 New house prices edge up in February
Contractors' selling prices increased 6.2 per cent in February 2007 from a year earlier. The year-on-year growth was slower than the 6.5 per cent yearly increase seen in January.
Friday Mar 28, 2008 Bell takeover gets blessing of CRTC
Canada's broadcast and telecom regulator has given the green light to the $52-billion leveraged buyout of Bell Canada parent...
Friday Mar 28, 2008 Housing crash could happen here
Imagine listing your home for sale, but there are no buyers. You drop the price. Again. And again. The house across the street is now for sale. And the one two doors down, plus a dozen others in a two-block radius. Nothing's selling, and every time one home is reduced, all are affected. This property used to represent wealth. Now it's a wealth trap. Most of what you have is here, and with each day passed, it diminishes.
Thursday 20 March 2008 OTTAWA: HOME BUYERS ANXIOUS TO LIQUIDATE MORTGAGE DEBT
A new survey shows that more than three-quarters of Canadians who recently bought a home intend to repay their mortgage loan as quickly as possible. The poll by the Canadian Mortgage and Housing Corp. shows that more than one-half of those asked will use additional funds to pay off their mortgages when possible. One respondent in three had already done so. Eighty-eight per cent expressed confidence in being able to manage their mortgages.
Friday 07 March 2008 BUYING property used to be a no-brainer investment. But after years of meteroric rises, prices in much of Europe are beginning to follow America's slide. Ireland, a recent star performer, saw the biggest drop in 2007, with property on average worth 7% less than the year before, according to a report by the Royal Institution of Chartered Surveyors, a trade body. Countries such as Poland may look like safer bets, but as foreign buyers feel the pinch at home they may be less likely to venture to southern or eastern Europe for second homes. Cyprus may be more promising as investors look to brighter prospects after joining the euro.
Wednesday Mar 5, 2008
Homebuyers are more cautious, survey finds
The number of Canadians intending to buy a home is at the lowest level since 2002, according to RBC Royal Bank's annual ...
The flight of people to the suburbs from the central city isn't a new phenomenon, but as the article by Kristian Gravenor's indicates, there's a more recent ominous twist.
Younger people, who cannot afford the rising prices of neighbourhoods like the Plateau and Mile End, are increasingly the migrants, to the point where the character of the city is changing.
And as Gravenor points out, municipal authorities seem out of ideas on how to alter the trend.
Stephen S. Poloz VP EDC Economics Weekly Commentary The Outlook According to Housing: Gloomy - February 6, 2008
Housing markets have once again proven their economic prowess. U.S. housing starts fell sharply in mid-2006, fully 18 months ahead of the softening in the broader U.S. economy – a remarkable lead on an economic slowdown that most agree is now going global. So given its foresight, is this keen sage saying anything about impending recovery? Past issues | his WN page
Commentary podcast.
Wednesday Feb 6, 2008 Affordable condos slated for the west end
Home ownership in the vibrant Côte des Neiges/Notre Dame de Grâce neighbourhood is becoming more affordable thanks to innovative...
The Rental Board of Quebec has announced rent adjustments for 2008, in cases where landlords and tenants cannot agree on a rent increase. In cases where there has been no change in municipal or school taxes, a 0.8 percent increase would apply for dwellings heated with electricity, 0.5 percent for those heated with gas, 1.3 percent for those heated with oil and 0.7 percent for non-heated dwellings. In cases where there is a five percent tax increase, add a 0.7 percent increase or 1.4 percent rent hike for a 10 percent tax increase.
The new adjustment rate in cases of major repairs is 4.3 percent. For more information, consult Calculation 2008/How to agree on the rent, on the Rental Board’s website, www.rdl.gouv.qc.ca or call (514) 873-2245.
Wednesday 30 January 2008 WINNIPEG: THREE CANADIAN CITIES AMONG WORLD'S LEAST-AFFORDABLE
Three Canadian cities in the province of British Columbia have made a list of the world's least affordable cities. Kelowna ranks thirteenth with a rating of 8.5. The rating means that an average home in Kelowna costs eight-and-a-half times the local average income. Ratings above 5.1 are considered severely unaffordable. Vancouver ranks fifteenth with an 8.4 rating, and Victoria ranks twenty-second, with a 7.3 rating. The ratings were issued by the Frontier Centre for Public Policy based in Winnipeg.
Tuesday Jan 29, 2008 Suggested rent hike down from last year
This month, a woman in Ahuntsic called her local tenants' organization to complain about her landlord..
Monday 28 January 2008 Builders slash prices 10%, but sales fall anyway
December's 5% decline caps record 26% drop in U.S. new-home sales for 2007 WASHINGTON (MarketWatch) -- U.S. builders slashed prices by more than 10% in December in a failed bid to boost sales, which dropped about 5% to the lowest level in nearly 13 years, the Commerce Department reported Monday.
Monday 28 January 2008 Event
The January 25, 2008, edition of our biweekly, The REIT Stuff, entitled
"Searching for the floor in the REIT sector", is available on SC Online.
What It Means
With the Canadian and U.S. REIT sectors down approximately 30% from
their respective highs in 2007 (as of January 23, 2008), investors are asking
where the floor is. At current valuations, we think the bottom could be
reasonably close.
Pre-credit crunch M&A activity in the REIT sector had been brisk and was
arguably driven by momentum investors rather than the value-oriented
motivations that characterized the 1999-2001 M&A activity. A simplistic
comparison to the 1999-2001 M&A period suggests current REIT
valuations haven't yet reached a floor, but one appears close. With credit
markets still shut to leveraged buyers, M&A activity, if any, is likely to be
initiated once again by institutional investors.
Our top large-cap picks are Brookfield Properties and Calloway, while our
small-cappicks are Allied Properties, Artis, InStorage, and Northern
Property.
Friday 25 January 2008 U.S. Housing
Existing U.S. home sales for December dropped 2.2% from November and 6% year over year, according to the National
Association of Realtors. The NAR’s economist Lawrence Yun (the guy who replaced the completely wrong David Lereah) said
the housing market is suffering “uncharacteristic weakness,” adding “home sales remain weak despite improved affordability
conditions in many parts of the country.” If affordability is improving, why are credit card defaults up, as well as student loan
and auto loan defaults? Do fears of recession help? What does help is news that Washington lawmakers negotiated to allow
Fannie Mae (FNM) and Freddie Mac (FRE) to temporarily buy larger home loans to aid the mortgage market. Mortgages up
to $730,000 stand to benefit.
Tuesday Dec 18, 2007 It's been a record year for home sales in Canada
Housing remains a pillar of Canadian domestic economic strength and will continue to be through next year, according to ... The Canadian dollar rebounded more than a full cent toward parity in the wake of the reports, and closed at 99.43 cents U.S. yesterday, up from 98.33 cents U.S. on Friday.
A domestic investment firm also predicted the bull market for stocks in Canada and the U.S. will continue for a sixth year in 2008. ....A major domestic real-estate firm also forecast that prices will rise a further 3.5 per cent in 2008 while sales, though slipping four per cent, would still be the second-strongest year on record
<>Saturday Nov 17, 2007 Turf war on the Web
Growing up in a Quebec City suburb, Nicolas Bouchard could have easily followed the family tradition and become a real-estate... ...Bouchard figured he could make the same concept fly in Quebec. In 1997, at age 21, he launched DuProprio.com, a website where owners can list and sell properties for a flat fee instead of the traditional commission on the sale price. ..Bouchard is now rolling out his business model in other provinces with an English site called ByTheOwner.com. Along the way, he has ticked off traditional real-estate firms, who see an upstart eating away at their market share.
VIENNA (Reuters) - A big overhang of property will bring U.S.
house prices down further, but it is too early to say if the
economy will plunge into recession, former Federal Reserve chief
Alan Greenspan was quoted as saying on Friday. Full
Article
Sunday 16 September 2007 The secret's out on phantom bids Registry, open bidding needed to stamp out phony offer scams, some realtors say
Phantom bids can be used by selling agents to spark extra rounds of bidding or to spook potential buyers into rushing or raising offers. The practice is considered a breach of ethics under the Real Estate and Business Brokers' Act of Ontario – administered by the Ontario council – and realtors who are caught can face hefty fines.
Friday 14 September 2007 Houses built on sand America's housing boom was almost modest by global standards—which is worrying
Tuesday 11 September 2007 Condo construction boosts housing starts
Multiple starts in the Atlantic region, B.C. and the Prairies rebound, while house price increases continue to slow
NEW YORK (Reuters) - Stocks fell on Wednesday after reports showed
the housing slump was deepening and spreading to the job market
while slowing consumer spending. Full
Article
Friday 31 August 2007 marketwatch
Troubled housing market looks to Washington
As foreclosures rise and sales of existing homes fall, lawmakers and regulators alike are feeling intensified pressure to do something fast to help homeowners and contain the subprime-mortgage crisis. See full story.
Investment homes are major part of defaults
Mortgages for investment properties constitute a major chunk of defaults in four states with the fastest-rising rates of seriously delinquent loans, according to data released Thursday by the Mortgage Bankers Association. See full story.
About 17% of U.S. household pay too much or live in dilapidated structures
The proportion of households in the United States with "critical" housing needs is growing, accounting for about 17% of households in 2005, according to a report released Thursday. See full story.
How to donate your unwanted time-share to charity
I have owned a time-share in Southern California since the early 1980s. The maintenance fees have risen beyond reason and it is next to impossible to find a decent exchange for it. I would like to donate the time-share and take a charitable tax write-off. There are charities that accept time-shares, some of whom use Donate for A Cause. How can I verify who is legitimate and acceptable to the IRS? Also, how do I calculate the amount of the write off? See Realty Q&A.
Should buyers pay cash or get a mortgage and invest?
My wife and I recently sold our home and netted $384,000. We are both 57, retired early and have a company pension of $37,000 per year along with $400,000 in 401K savings. We are downsizing and are building a smaller, maintenance-free home for $345,000. Our dilemma is that we are debating whether we should pay cash for our new home and live comfortably with our annual pension and the 401K, which we can tap into in two years, or put 20% down on the new home and take out a 15-year mortgage at around 6%. The federal tax benefit of mortgaging the home compared to paying cash seems to be about the same. Informed friends tell me that you should always mortgage a home and put the proceeds of the home sale into other, more liquid investments. Should we? See House Talk.
New mortgage products could help, Bernanke says
The private sector and Congress should create new, affordable mortgage products that would help some homeowners refinance their mortgages and keep their homes, Federal Reserve Chairman Ben Bernanke suggested in a letter released Wednesday. See The Fed.
Sunday 26 August 2007 Drop Foreseen in Median Price of U.S. Homes Economists say the decline, which could be foreshadowed in a widely followed government price index to be released this week, will probably be modest — from 1 percent to 2 percent — but could continue in 2008 and 2009. Rather than being limited to the once-booming Northeast and California, price declines are also occurring in cities like Chicago, Minneapolis and Houston, where the increases of the last decade were modest by comparison.
Saturday 25 August 2007 rci TORONTO: CREDIT TIGHTENS
Mortgage brokers says that two major mortgage bankers have told them that they have suspended high-risk lending in Canada. The brokers say they were informed of the suspension of sub-prime loans by MCAP Financial and GMAC Residential Funding of Canada Ltd. The decision means that borrowers whose credit record is less than perfect will have difficulty obtaining a loan as lending conditions tighten. That tightening began in Canada with the woes of short-term loan seller Coventree. Meanwhile, the only company that assesses the safety of asset-backed commercial paper, DBRS, says it will re-evaluate its methods of rating short-term debt in light of the ABCP crisis of recent weeks. The company's group managing director, Huston Loke, says the company is responding to the concerns both of debt issuers and investors
Friday 24 August 2007 in the US
Sunday 19 August 2007 How Missed Signs Contributed to a Mortgage Meltdown
By NELSON D. SCHWARTZ and VIKAS BAJAJ
There were ample warning signs that a financial time bomb in the form of subprime mortgages was ticking quietly for months.
Sunday 05 August 2007 In Silicon Valley, Millionaires Who Don’t Feel Rich
Many members of the digital elite do not see themselves as particularly fortunate, in part because others have more.
12 July 2007 June sales: Not to worry
By Andy Dodge
Prices appeared to be easing off in the Westmount real estate market in June, but in fact they are still among the highest the city has ever seen, as volume remained strong moving into the summer months. The city saw 13 sales in June, including one over $3 million and five others between $1 and $2 million
11 July 2007 Canada's housing market keeps on booming
Average resale price hits new high of $335,180 in June as dollar volumes, new listings both rise to records ....The average price of a Canadian existing home jumped 10.4 per cent last month from a year ago to $335,180, according to sales tracked through MLS by the Canadian Real Estate Association. Average prices rose to previously unseen levels in Victoria, Regina, Saskatoon, Winnipeg, Kitchener, Ottawa, Montreal and Halifax.
Wednesday 11 July 2007 Can’t Sell Your Home? Maybe It’s Priced Too Low It is one of the expensive suburbs of San Francisco just over the Golden Gate Bridge, and much of the housing market there seems to be doing just fine. One three-bedroom house sold for $1.4 million last month without ever being officially put on the market. The seller accepted a pre-emptive bid — $20,000 above the asking price — from somebody who had heard that the house was about to be listed for sale.
Wednesday 20 June 2007 ec Let point
The cost of renting an apartment in Toronto is higher than in any other big Canadian city, according to a new study by Canada’s national mortgage and housing agency. The study found that in April the average monthly rent for a two-bedroom apartment in Toronto was C$1,073 ($1,005), slightly more than in Vancouver (C$1,051) and Calgary (C$1,037)—and far higher than in Montreal (C$630). Toronto was also shown to have the highest vacancy rates: 4% of its apartments were unoccupied, compared with 2.9% in Montreal, 0.9% in Vancouver and 0.5% in Calgary.
Andy Dodge 13 June 2007 WEx The Westmount real estate market had its biggest month in the past seven years in May, according to listings marked ?sold' by the Montreal Real Estate Board. A total of 28 one- and two-family dwellings were sold, more than for any single month since March of 2000, and the year's volume is closing in on heyday levels of 1998 and 1999. The difference this time, of course, is that the market which is hovering around the $1,250,000 average level was exactly half that in 1998-99, and... January was a very busy month for Westmount real estate agents, notaries and movers, it appears, though volume of realty closures dropped off again in February. The first month of this year saw closings of transactions for 14 single-family dwellings and two duplexes, for prices ranging from...
Friday 15 June 2007 Housing gets a lot less affordable
Climbing prices mean affordability is worsening across the country, deteriorating the most in Saskatoon
....described the project on Curbly.com so that her mother, who lives in Ireland, could see her kitchen reno.
But the pictures also attracted 980 other visitors, many of whom said they were inspired by Ms. Filby's $60 makeover.
In the United States, the television network HGTV has tapped into this desire by starting a popular online feature called Rate My Space, where users post pictures of their homes and are given scores by visitors.
Other sites, such as Homeandtell.com and Decornextdoor.com, allow visitors to browse through shots of bathrooms, gardens and lofts, and see how many other visitors liked each one.
At Decor Next Door, users also post pictures of furniture or home accessories they are thinking about buying so that others can weigh in with their opinions, or put impending design decisions up to a vote.
For those who don't own their own home, Apartmenttherapy.com offers the same resource for renters.
"People spend so much time and money and energy making their house an expression of who they are, we thought we'd give them a place online where they could share that," says Bruno Bornsztein, founder of Curbly.
"When you spend two weeks remodelling your bathroom, using building materials from your local Freecycle and paint that you found in a park, it's cool to share that with people."
Curbly has members around the world, including in Japan, Singapore, Turkey and France. The site has 2,000 registered users, including 60 Canadians, and gets about 5,000 unique visitors a day.
Wednesday 11 April 2007 A Word of Advice During a Housing Slump: Rent
For years, homeownership made more sense than renting. But now it is clear that people who chose renting over buying in the last two years made the right move. | chart
Friday Mar 30, 2007 Housing market still white hot
Canada's housing market is off to a hotter-than-expected start this year, says a major real-estate firm, which reported ...
Thursday 15 March 2007 5 Ways to Protect Yourself – and Profit – From Today's US Real Estate Crisis "Real estate prices (U.S.} nationwide
could fall by as much as 40% in real dollars in the next few years."
— Dr. Robert Shiller, Yale University
Montreal's residential real estate market got the year off with a vigorous start, with an 11-per-cent increase in sales ...
Wednesday, March 07, 2007
Montreal's residential real estate market got the year off with a
vigorous start, with an 11-per-cent increase in sales in January and an
eight-per-cent increase in February.
A total of 8,954 homes
traded hands across the greater Montreal area in January, 881 more than
were sold during the same period a year earlier. Last month, 5,350
homes were sold, compared with 4,932 a year before.
Condominiums
remain a popular choice, with 1,900 sales since the beginning of the
year, compared to 1,675, for a 13-per- cent increase. The average
selling price rose by six per cent to $199,000. Single-family home
sales rose during the first two months by 11 per cent to 5,881
properties. The average selling price also rose by six per cent to
$216,000.
Michel Beausejour, chief executive of the Montreal
real-estate board attributes the increased sales to a healthy economy,
sustained job creation and strong consumer confidence. If all the
conditions hold, 2007 could be another record-setting year, he
predicted.
For its part, the Canada Mortgage and Housing Corp. is predicting that 2007 will closely match 2006, with about 38,000 resales.
The
good news came even as agents complain that the spring market, which
usually begins in February, got off to a sluggish start, with a paucity
of new listings to entice would-be buyers. Some wonder whether buyers
have been sidelined until the provincial election is decided.
The total volume of sales transacted since Jan. 1 is $1.9 billion, up 18 per cent compared with the first two months of 2006.
As
of Feb. 28, there were 36,784 active listings posted on the MLS system,
an eight-per-cent increase from the 35,869 posted a year ago.
Saturday 17 February 2007 Home Prices Fall in More Than Half of [U.S.A.] Nation’s Biggest Markets
House Buying Help 01/18 - Home ownership in Canada is growing. Almost two thirds of Canadian families own their homes - though most still pay mortgages. And those mortgages are a big reason why so many more Canadians can buy. In this final story in our series on home buying,
A Housing Crash Will Soon Hit America – Find out Sir John Templeton's Advice and Prepare for the Coming Catastrophe
Greenspan, Templeton, Buffett, Volcker and others agree
a housing crash could happen …
Find out how to protect yourself and PROFIT from the coming crash …
Saturday Jan 20, 2007 JAY BRYAN, The GazetteEasy money paves way for u.s. mortgage excesses ....even in Montreal, average prices will enjoy another small increase, probably just above the rate of inflation, believes Paul Cardinal, a CMHC market analyst.
This week's Real Estate storiesBy MarketWatch Last Update: 3:22 PM ET Dec 29, 2006
It was a week of surprising -- and mostly good -- news for the housing market.
On Thursday, the National Association of Realtors reported that existing-home sales rose 0.6% in November. Inventories of unsold homes fell 1%, the group reported.
The day before, it was the Commerce Department with news that sales of new homes rose 3.4% in November. Sales figures for October were also revised upward. Moreover, the median sales price for new homes rose to $251,700, up from the $248,500 reported in October.
Some industry observers read the trends as encouraging for housing.
For homeowners in the market to sell, however, one particular figure painted a bleaker picture: The NAR also reported that the median sales price fell by 3.1% in November to $218,000, compared with year-ago figures.
The figures could indicate that more sellers are taking a deep breath and cutting their prices. It also could indicate that in the many buyer's markets across the country, those purchasing a home are getting a lot more demanding.
House hunters may want to check out one of Marshall Loeb's Daily Money Tips from this week, a primer on how to shop for homes in a buyer's market.
As for house sellers, well, best wishes for a happier new year.
Sales of U.S. existing homes rose 0.6% in November, to a seasonally adjusted annual rate of 6.28 million, the National Association of Realtors said Wednesday. Inventories of unsold homes fell 1%, to 3.82 million, representing a 7.3-month supply. See Economic Report.
November sales of new homes rise 3.4%
Sales of new homes rose 3.5% in November to a seasonally adjusted annual rate of 1.047 million, the Commerce Department reported Wednesday. Sales are now down 15.3% in the past year, the government's data showed. See Economic Report.
Shopping for homes in a buyer's market
It's no secret that the housing market finally, after a long while, belongs to the buyer. Home sales and prices sagged in 2006, and 2007 is not expected to be too different. According to David Lereah, chief economist for the National Association of Realtors, buyers have a "window of opportunity" in 2007 to take advantage of lower mortgage interest rates and seller flexibility. See Marshall Loeb's Daily Money Tip.
Top 10 'value' towns for retirees
Hot Springs, Ark., has enjoyed popularity as a spa resort, but its low cost of living also makes it of particular interest for retirees, according to geographer Warren Bland. The Arkansas town is No. 1 on Bland's list of the top 10 value towns for retirees in 2007.
Sunday 31 December 2006 America the OverfullThe overcrowded, much noisier, more hectic, intensely urbanized and vertical world of the present can seem hostile and hallucinatory to anyone who knew America in a simpler form.
Thursday 28 December 2006 Home Sales Rose 3.4% Last Month Builders sold new homes at a faster rate last month than they did in October, shrinking the backlog of unsold homes on the market.
Wednesday 27 December 2006 WASHINGTON (MarketWatch) -- Sales of new homes rose 3.5% in November to a seasonally adjusted annual rate of 1.047 million, the Commerce Department reported Wednesday. Sales are now down 15.3% in the past year. October's sales pace was revised to 1.013 million, from an earlier-estimated 1.004 million. The median sales price of a new home rose to $251,700 from $243,800. Economists surveyed by MarketWatch were expecting sales to rise to a seasonally adjusted annual rate of 1.02 million from the previous 1.00 million
Less gain, no pain for Canadian homeowners
As we hear more about the distress of homeowners caught in the meltdown of the U.S. housing boom, some... JAY BRYAN, The Gazette ...On this front, Quebec is an exceptionally good performer, perhaps suggesting its homeowners have been cautious about taking on too much housing-related debt. Quebec joins British Columbia and Alberta in having a rate of mortgage arrears well below the Canadian average.
Top court to decide real estate dispute MARY LAMEY, The Gazette
The Supreme Court of Canada is being asked to wade into a dispute pitting Quebec's full service real... ..The dispute dates to 2000 and 2001, when two consumers complained to the ACAIQ after engaging Proprio Direct agents to sell their homes. The discount brokerage charged them a non-refundable "membership fee" of about $1,500 payable when the sales contract was signed.
That arrangement contravened the Real Estate Brokerage Act and the mandatory contract that has been in effect in Quebec since 1994. The rules say an agent will be paid a percentage of the sale price only once the property has sold. An up-front payment is illegal under the ACAIQ's regulations.
Flight from the city continues, study reveals
Urban sprawl has been spreading farther away from Montreal Island and at an accelerating pace over the past decade, a new study shows - and observers say it's to the detriment of the "hole": the city of Montreal.
...The report is available at the website www.cmm.qc.ca
Montrealers are leaving, but they're not really leaving
The Montreal Metropolitan Community is one of those loftily named organizations that came into being along with municipal mergers in 2001 and stuck around even after many of the mergers were undone.
Saturday 18 November 2006 Dark skies looming on economic horizon
Jay Bryan, CanWest NewsService ....The next domino to watch is U.S. housing prices. Unlike the still healthy Canadian real estate market, housing prices in the U.S. have already slammed into reverse over the past year. ....In Canada, healthy price gains mean even after paying interest on a mortgage, a typical homeowner made a "profit" over the past year, notes Ted Carmichael, chief Canadian economist at J.P. Morgan Securities. In effect, the rising home value more than paid the mortgage interest.
Stephen S. Poloz VP EDC Economics Weekly Commentary Bubbles…and Beyond - November 8, 2006
For several years the U.S. housing sector has been a source of economic strength, creating construction jobs and consumer wealth, thereby boosting consumer spending. But too much of a good thing led to rampant speculation and a real estate bubble, and now that bubble has burs
BBC
House Buying HelpAmerica the OverfullThe overcrowded, much noisier, more hectic, intensely urbanized and vertical world of the present can seem hostile and hallucinatory to anyone who knew America in a simpler form.
Stephen S. Poloz VP EDC Economics Weekly Commentary