25 Feb 2011

Housing affordability on the increase throughout Canada

On the heels of an Economist magazine survey revealing the Greater Toronto area to be among the most liveable cities in the world, it's also becoming more affordable.Not only is the Greater Toronto area replete with cheap storage units, but according to a recently released report from the Royal Bank of Canada, housing affordability increased in the fourth quarter in almost every housing category. The RBC says the only exception was among two-story homes, which became "marginally less affordable."Countrywide, the RBC says cost for homes is down considerably, thanks largely to five-year fixed mortgage rates declining."Some of the stress that had been building in the housing market between 2009 and the first half of 2010 has been relieved," said Robert Hogue, senior economist for RBC.Hogue went on to temper people's optimism, saying "affordability is likely to be short-lived" but that it shouldn't affect the housing market much because household income is increasing.According to Statistics Canada, median total income across the…

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25 Feb 2011

If there's overlap between the United States and Canada when it comes to trends, then Torontonians with an eye for organization should rent their storage units now while they're still available.According to an OfficeMax survey, a high percentage of people are adversely affected by their unorganized nature and are determined to seek out improvement.Included among the findings was that while 32 percent say they're very organized, a whopping 60 percent said they're only somewhat organized and wanted to improve.A high number of respondents also said their messy habits adversely affected their everyday living, as 77 percent said it decreased their productivity, 65 percent said it impacted their state of mind and 40 percent said it negatively impacted their happiness.One of…

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24 Feb 2011

The forecast shows snow showers and temperatures topping out in the mid-30s for the Toronto area in the coming days. But there's another reason Toronto residents should keep their summer cars safely stowed away in their storage units: gas prices.According to Torontogasprices.com, Greater Toronto area gas prices jumped nearly four cents literally overnight.Economists attribute the sudden rise in prices to the ongoing political unrest in the Middle East, particularly in Libya, as several oil-producing companies have shut down their operations amid countrywide protests.The gas-monitoring website says the average price of gas throughout the Greater Toronto area now stands at $1.20 per liter."[High gas prices] will obviously have a rippling effect throughout the economy and put us very near to what…

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23 Feb 2011

As Toronto's population continues to grow and storage units are filled, it's clear that homebuilders are expecting more is on the way, as housing starts rose last month.According to the Canada Mortgage and Housing Corportation, 170,400 units were started last month, up from 169,000 units in December 2010."Housing starts moved slightly higher in January because of an increase in rural starts," said Bog Dugan, chief economist at CMHC's Market Analysis Center. "Single-detached and multiple starts showed a moderate decline.Rural starts were estimated at a seasonally adjusted annual rate of 23,500 units in January, according to the CMHC.The condominium market is particularly vibrant. In an interview with the Toronto Metro, Shaun Hildebrand, senior CMHC market analyst for the Greater Toronto area…

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22 Feb 2011

Those who have recently moved to Toronto but can't help but be uncertain about whether it was the right decision can take heart: It's among the most most liveable cities in the world.Every year, the Economist magazine conducts a sweeping assessment of 140 cities around the world. With ratings from 1 to 100 – 1 being intolerable, 100 being heaven on earth – it ranks cities' liveability based on 30 factors like education, environment, culture, infrastructure and healthcare. And fourth on this year's list is Toronto, with a comfortability rating of 97.2.Canada as a whole fared well, as Vancouver ranked first overall with a score of 98.0, and Calgary fell just short of Toronto as the fifth most liveable city,…

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21 Feb 2011

After a recent spat of automobile thefts in the area, Torontonians may finally be able to take their vehicles out from the safety of their storage units.On Friday, Toronto police arrested a 33-year-old man who is believed to be responsible for causing tens of thousands of dollars in damages to dozens of vehicles around the Greater Toronto area.Police say Darryl Aquino performed a series of smash-and-grab thefts over the past month, breaking cars' windows and windshields and then reaching into the vehicles to steal whatever he get his hands on. The items he stole were usually electronic gadgets, such as GPS devices, cameras and iPods, according to the department's constable.Authorities say the string of car thefts – 60 in total…

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18 Feb 2011

With the Toronto real estate market back on track, the city is looking to keep businesses in the black and storage units stacked by bringing some heavy-hitting residents to the Greater Toronto area.According to CBC…

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18 Feb 2011

The Toronto area saw significant growth in the real estate market in January, and the Canadian Real Estate Association believes the market will grow even more in the month of February, perhaps signaling renewed demand…

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16 Feb 2011

Judging by the rate at which office space is being snapped up in the Greater Toronto area, business appears to be picking up in the Toronto local commercial real estate market.According to Avison Young's office…

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15 Feb 2011

The number of people moving to the Greater Toronto area last month may be slightly off the pace when compared to January 2010, but the city's real estate market continues to move forward.According to the…

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14 Feb 2011

At more than 33 million, Canada's population has been on a steady increase for more than 50 years. And last year, there was a significant jump in economic migrants. Approximately 280,600 legal immigrants became permanent…

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