Wednesday, 4 June 2014

Cladding going up on Bay Adelaide

Construction Update
RBC Financial Group Warns, that Rising Mortgage Rates will Make Home Ownership Unaffordable for Most Canadians. The Royal Bank of Canada is warning that the tide of rising interest rates will make home ownership for most Canadians unaffordable. This will be very true in Toronto and Vancouver where home prices have recently climbed over $1 Million dollars for a single family detached home. Servicing of interest related to home ownership such as mortgage rates, as well as mortgage insurance are set to rise, or have been rising over the past year. The longer term interest rates are moving at such a pace that the incomes of most Canadians will not be able to keep up. The good news however is that the rising interest rates foretell a improving economy for most Canadians looking to improve their financial situation New Report States: Alberta to Lead Canadian Construction Through the Next Decade The Alberta Home Construction Industry is set to become the new leader on the Canadian scene as states a new report from BuildForce Canada 2014-2023 Construction and Maintenance Looking Forward Forecast which sees the pace of expansion in the western province expanding at an exponential rate. Home construction in Alberta has now passed the 2008 peak and is set for further growth. Also on the Alberta front outside of homebuilding, the Oil and Gas Sector looks set to power Alberta’s economy into the next decade. The Alberta Construction Industry has adapted well to conditions on the ground and looks set for future growth. Sotheby’s Agent Tells Tales of the Toronto Real Estate Market One agent, points out a 1500 square foot condo near the High Park area, it is already asking for a price well over $1.5 million dollars. This is the time we live in the agent states, as the supply of single family detached homes slows, and the supply of condos increases, so too do the prices which these properties command on the open market. Toronto is no different than New York City in a sense, the agent bemuses. He tells tales of homes listed for 735,000 dollars going over 1 million dollars and above. These homes appeal to a certain demographic, one that wants the convenience of downtown living, as well as having a detached or semi detached home close to the core. Realty Offices Across Toronto Realspace Management Group Inc - 416-594-9400 website: Bentall Kennedy LP - 416-681-3400 Commercial Mortgage Coporation - 416-236-2222 Oxford Properties Group IncExecutive Offices DTZ, a UGL company 12 Degrees Sales Office Kolter Property Company - 416-366-8699 GWL Realty Advisors Corporate Office - 416-359-3019 The Real Estate Office - 416-883-0095 Triovest Realty Advisors Inc - 416-203-1209 Radio City Office - 416-927-9665 Dananta Building Corp Inc - 416-928-1200 Thornwood One - 416-922-6777 Bosley Real Estate Ltd - Residential Offices - 416-465-7527 Snelgrove L S (1981) Limited - 416-482-0469 Century 21 Parkland Ltd Brokerage - 289-806-0064 Ecko Jay Realty Ltd Brokerage - 416-445-8858

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