Just the other day, international supers tar chef Daniel Boulud was in town cooking a lunch rich with scallops, truffles and crispy roast piglet.
"Coming to Vancouver, I am very intimidated. And a little scared, too," says Mr. Boulud, who was offering local taste-makers a nibble of his first Canadian venture, DB Bistro Moderne Vancouver, which will open here in July. "This city is very vibrant with energy around food."
You could say this city is very vibrant with energy around everything these days.
Sunday, March 30, 2008
Wednesday, March 26, 2008
Canadians are wondering if the same fate awaits the real estate market
The U.S. financial sector has been rocked by subprime mortgages, which essentially provided a way into real estate for people who wouldn't qualify for conventional mortgages. But Turner told CTV.ca the real story is that housing prices in the U.S. got more expensive than Americans could afford.
In Canada, real estate prices have essentially doubled in five years. Turner said he didn't think that was a "reasonable" increase.
Over that period, household incomes have stayed essentially flat, he added.
In Canada, real estate prices have essentially doubled in five years. Turner said he didn't think that was a "reasonable" increase.
Over that period, household incomes have stayed essentially flat, he added.
Monday, March 24, 2008
Real Estate Authors from Canada
Hi, from Tam Tree, hope you like the Canada real estate news blog.
I need real estate authors from Canada to help me coverage the areas of Quebec City, Calgary and Ottawa .
Please send email if you like to participated in this effort. Thanks !
tamtree@gmail.com
I need real estate authors from Canada to help me coverage the areas of Quebec City, Calgary and Ottawa .
Please send email if you like to participated in this effort. Thanks !
tamtree@gmail.com
Friday, March 21, 2008
Toronto is set for its own housing collapse?
Not likely. The record sales reached in 2007 were largely due to the shock caused by the introduction of 40-year mortgages in Canada. Now that most of the home buyers who were sitting on the sidelines bought houses, sales volumes are expected to return to more sustainable levels.
Another big issue is the slowing down of the Canadian economy, with experts now predicting that Canada will follow the US into a marked contraction. Ironically, one of the biggest dampeners on the Canadian housing market may not be the troubled US housing market per se, but related woes in the financial markets. The ensuing "credit crunch" has restricted credit globally, led to higher fixed interest rates and decreased affordability for all consumers.
Another big issue is the slowing down of the Canadian economy, with experts now predicting that Canada will follow the US into a marked contraction. Ironically, one of the biggest dampeners on the Canadian housing market may not be the troubled US housing market per se, but related woes in the financial markets. The ensuing "credit crunch" has restricted credit globally, led to higher fixed interest rates and decreased affordability for all consumers.
Tuesday, March 18, 2008
InterRent REIT Announces April Distributions
TORONTO, ONTARIO InterRent Real Estate Investment Trust (TSX:IIP.UN) ("InterRent") announced today that its distribution declared for the month of April, 2008 is $0.0317, per unit, equal to $0.38 per unit on an annualized basis, representing an annual yield of approximately 11.5% based on the March 14, 2008 unit closing price of $3.32 per unit. Payment will be made on or about April 15, 2008 to Unit holders of record on March 31, 2008. At the close of business on March 14, 2008, InterRent had 18,064,095 units issued and outstanding, including class "B" units of InterRent Holdings Limited Partnership.
Saturday, March 15, 2008
Canadian Housing at Least Affordable Level in 18 Years
(CEP News) Ottawa – Housing affordability is at its worst level in 18 years as a result of sound macroeconomic fundamentals such as job growth, says a report released from RBC Economics on Friday.
However, the report also says most Canadian markets will see that lack of affordability improve in 2008 as price increases weaken, incomes grow and rates for popular five-year mortgages are reduced.
“Housing affordability deteriorated across the country in every quarter in 2007, to end the year at its most unaffordable level since 1990,” said RBC assistant chief economist Derek Holt. “Back then, soaring interest rates and a recession sparked much of the trouble. Today, a long upward trend in house prices driven by sounder macroeconomic fundamentals, like job growth, is primarily responsible for the deterioration in affordability.”
However, the report also says most Canadian markets will see that lack of affordability improve in 2008 as price increases weaken, incomes grow and rates for popular five-year mortgages are reduced.
“Housing affordability deteriorated across the country in every quarter in 2007, to end the year at its most unaffordable level since 1990,” said RBC assistant chief economist Derek Holt. “Back then, soaring interest rates and a recession sparked much of the trouble. Today, a long upward trend in house prices driven by sounder macroeconomic fundamentals, like job growth, is primarily responsible for the deterioration in affordability.”
Wednesday, March 12, 2008
Calgary condo-monium
Calgary Real Estate Board data lists the average MLS sale price for a single-family home at $471,696 last month, compared to $448,557 in February 2007. Average prices for condominiums were $311,812 and $301,812, respectively.
Year-to-date, housing starts were 4% ahead this year, compared to the first two months of 2007. Still, the CMHC holds on to its prediction of a decline in housing starts this year, Louie said.
CMHC forecast last month that Calgary housing starts would decline 19% in 2008. Housing starts in Alberta's seven largest urban centres decreased 20% from 2,338 units in February 2007 to 1,867.
Single-family starts dropped 46% across Alberta, while multi-family starts rose 0%. Nationally, urban starts rose 42% from February 2007.
Year-to-date, housing starts were 4% ahead this year, compared to the first two months of 2007. Still, the CMHC holds on to its prediction of a decline in housing starts this year, Louie said.
CMHC forecast last month that Calgary housing starts would decline 19% in 2008. Housing starts in Alberta's seven largest urban centres decreased 20% from 2,338 units in February 2007 to 1,867.
Single-family starts dropped 46% across Alberta, while multi-family starts rose 0%. Nationally, urban starts rose 42% from February 2007.
Monday, March 10, 2008
Real Estate In Victoria - Celebrities Building Green
When it comes to Real Estate in Victoria BC, “Green” is buzz word that we hear a lot these days. Many projects looks or have the image of being green, even going as far as posting their advertising in green colours.
It is almost to the point that people think it is more “Prestigious” if it is built green.I think it is great if we can build green but at what cost and is it really help the environment? Electricity for example can generated via solar panels, heat and AC can be generated via heat pumps. Heat pumps are great for our climate here in Victoria, Vancouver Island, Vancouver and the lower mainland where our climate is more temperate.
A recent article in the Times Colonist by Carla Wilson talks about how Celebrity Pamela Anderson and Geoff Courtnall have plans on building green.
It is almost to the point that people think it is more “Prestigious” if it is built green.I think it is great if we can build green but at what cost and is it really help the environment? Electricity for example can generated via solar panels, heat and AC can be generated via heat pumps. Heat pumps are great for our climate here in Victoria, Vancouver Island, Vancouver and the lower mainland where our climate is more temperate.
A recent article in the Times Colonist by Carla Wilson talks about how Celebrity Pamela Anderson and Geoff Courtnall have plans on building green.
Saturday, March 8, 2008
Toronto is set to take the next step in transforming “some of the best real estate in Canada”
Waterfront Toronto is now turning its attention to two additional sections called Parkside and Bayside, worth about $1-billion, to the east of Dockside. The agency will release a “request for a qualifications” on Friday, in the hopes of shortlisting a team of developers and architects who will then be asked to submit a detailed designed proposal. A winner will be announced by the end of the year.
Developers from as far away as the Middle East, Australia and the United Kingdom, along with local talent, have already expressed an interest in Bayside and Parkside, Mr. Campbell told reporters today.
“We think this is probably some of the best real estate in Canada, so it deserves a real good look from developers around the world,” he said.
Waterfront Toronto has not stipulated how much of East Bayfront.
Developers from as far away as the Middle East, Australia and the United Kingdom, along with local talent, have already expressed an interest in Bayside and Parkside, Mr. Campbell told reporters today.
“We think this is probably some of the best real estate in Canada, so it deserves a real good look from developers around the world,” he said.
Waterfront Toronto has not stipulated how much of East Bayfront.
Wednesday, March 5, 2008
$6.3 million for two Sherbrooke, Que., office buildings
MONTREAL - BTB Real Estate Investment Trust (TSXV:BTB.UN) has closed the acquisition of two office properties in Sherbrooke, Que., for $6.3 million.
BTB said Tuesday it now has over $190 million worth of properties with 1.9 million square feet of leasable area.
The Sherbrooke buildings - Place Jacques-Cartier 1645 and 1640-1650 King Street West - face each other on a major commercial artery, and total 60,631 square feet of leasable area occupied by Quebec government offices and various professional firms, and a 166-space parking lot.
BTB said Tuesday it now has over $190 million worth of properties with 1.9 million square feet of leasable area.
The Sherbrooke buildings - Place Jacques-Cartier 1645 and 1640-1650 King Street West - face each other on a major commercial artery, and total 60,631 square feet of leasable area occupied by Quebec government offices and various professional firms, and a 166-space parking lot.
Monday, March 3, 2008
Old is gold for Toronto-based trust
TORONTO real estate - A company that discovered its business strategy in adverse times, office landlord Allied Properties Real Estate Investment Trust offers a way to invest in the ongoing revitalization of city centres.
The largest owner of brick-and-beam office buildings in Canada, Allied has a portfolio of 69 character-filled low-rises in downtown Toronto, Montreal, Quebec City and Winnipeg.
"This is very clearly a long-term play on urbanization," said Neil Downey, managing director at RBC Dominion Securities, which has an "outperform" rating on the units. "There's also something to be said for a company that can survive tough times versus one that starts up when things are easy."
The largest owner of brick-and-beam office buildings in Canada, Allied has a portfolio of 69 character-filled low-rises in downtown Toronto, Montreal, Quebec City and Winnipeg.
"This is very clearly a long-term play on urbanization," said Neil Downey, managing director at RBC Dominion Securities, which has an "outperform" rating on the units. "There's also something to be said for a company that can survive tough times versus one that starts up when things are easy."
Saturday, March 1, 2008
Calgary real estate
In Calgary and Edmonton, the condo/house choice was more evenly split with 31 per cent opting for condos and 33 per cent for houses. Other options for individual Calgary and Edmonton women buyers were townhouses (23 per cent), duplexes/triplexes and fourplexes (10 per cent).
Two thirds (66 per cent) of women in the Alberta cities cite wanting to get into the housing market as a reason for buying their first home, compared with an average 54 per cent of women respondents across Canada, says the Women and Home Ownership Poll.
Two thirds (66 per cent) of women in the Alberta cities cite wanting to get into the housing market as a reason for buying their first home, compared with an average 54 per cent of women respondents across Canada, says the Women and Home Ownership Poll.
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