Category Archives: General Information

What’s The Germiest Place In Canadian Homes?

Posted on August 23, 2012 | Leave a comment

It’s almost cold and flu season, and a study on household hygiene has found that Canadians don’t pay as much attention as they should to their dish towel cleanliness.

Dishtowels in the 20 Canadian homes and nearly 200 surveyed around the world by the Hygiene Council were found to be covered in more bacteria than the bathroom floor.

The Hygiene Council is an organization composed of specialists in various fields like public health, virology and infectious diseases. The Council recommends air-drying dishes, washing dishtowels in the laundry or in the dishwasher on a daily basis, and using separate towels for hands or wiping down sticky toddler faces.

When compared to homes from other countries, Canadians had cleaner refrigerators and bathtubs than most. However, 20 per cent of our dishtowels were infested with bacteria, with one in 10 dish towels containing E. coli bacteria. Sponges and rags used for cleaning are also covered in more germs than anywhere else in a home.

According to the Hygiene Council, some good came from the 2002 SARS outbreak because ever since then, Canadian hands have never been cleaner. Canadian computer keyboards, computer mice and tea kettle handles – things we touch with our hands – all turned up spotless, probably thanks to frequent hand washing.

 

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All About Toronto’s Underground City: PATH

Posted on December 29, 2010 | Leave a comment

If you’re looking for a way to travel around Toronto on foot without getting cold or wet, check out the PATH underground walkway: a network of underground tunnels that links major destinations throughout the downtown core.

Toronto PATH Facts

PATH links about 1,200 businesses and shops, 50 office buildings, five subway stations, a railway station, six hotels, two department stores and 20 parking garages.

PATH is home to the world’s largest underground sidewalk sale.

PATH encompasses 4 million square feet of retail floor area, or 371,600 square meters.

Toronto’s PATH is 28 kilometers, the largest underground shopping complex in the world.

Toronto’s PATH was born in 1900, when a tunnel was created between two T. Eaton Co. store locations. It continued to grow every few years until a major construction boom created most of what the PATH is today during the 1960s and 1970s.

In 1987,  the City of Toronto took over PATH’s planning and signage responsibilities.

Over 100,000 pedestrians use PATH every single day in Toronto.

Shops in PATH are pretty upscale, and a National Post article from April 2010 suggests that rent for these stores are twice that of retail space on the surface.

A PATH map and listing of PATH stores is available on the City of Toronto’s website.

For more information, see our previous PATH blog post.

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Outlook for Toronto Real Estate in 2011

Posted on December 28, 2010 | Leave a comment

Early 2011 should see a relatively balanced market according to a number of real estate reports released in the past month by real estate brokers, government agencies and economists. The real estate market for the city in 2010 is being considered a good year, although it did not top 2009, which was a “great” year. The market in 2008 on the other hand, was far less-than-stellar because of the recession.

As 2010 winds down, we can see that the market is slowly balancing out. Since the rush of the spring real estate market, sales have leveled out through the summer and have continued to chug along at a healthy rate. Only a 5% drop is expected in total home sales for 2010 from 2009, and when considering 2009′s outstanding sales that isn’t bad at all. Sales will continue to slow further, but return to normal patterns.

Better market stability and home sales very close to those seen in 2010 are also expected for 2011, and the Canada Mortgage and Housing Forecast is also calling for a slight cool in the housing market.

Housing values across the country are expected to increase by between 5% and 8% in 2011, especially in larger urban centers that are concentrating on urban renewal like Toronto.

Other factors affecting Toronto real estate in 2011

Toronto Mayor Rob Ford has promised to get rid of the Municipal Land Transfer Tax, which adds a few thousands dollars to home transactions. There is currently a rebate available for first-time buyers, but the tax probably won’t be going anywhere until at least 2012. Waiting for the tax to go away isn’t really worthwhile, as property prices may go up in that time just enough to negate any potential savings.

There are plenty of reasons 2011 will be a stellar year for the Toronto real estate market, including:

High immigration: Toronto is a major attractant to many of the 250,000 immigrants that Canada takes in on an annual basis. Many of these immigrants are highly skilled and quickly become financially stable, arriving ready to buy a home.

Historic low interest rates: interest rates aren’t expected to rise until mid-way through 2011. However, if inflation stays low, these interest rates may not rise until much later on.

Low unemployment and few mortgage defaults: the problems currently facing the United States housing market aren’t happening in Canada, where only 1% of mortgages default in comparison to 20% in the United States.

Happy New Year!

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Update on Consumer Confidence

Posted on October 14, 2010 | Leave a comment

The RBC Canadian Consumer Outlook Index dropped 14 points in September from 108 to 94, after staying around the same level since December. RBC also conducted surveys on consumer confidence throughout the quarter.

According to the polls, 60 per cent of Canadians believe that the current economic outlook is good, but job anxiety has increased to 22 per cent. However, job anxiety has fallen from its all time high of 27 per cent in November of 2009.

Debt management is a priority for many Canadians currently, with 51 per cent trying to reduce their debt over the next year, and 39 per cent intending to spend less. However, 17 per cent of Canadians say they’re just keeping their heads above water and only 41 per cent of Canadians are confident in their debt management.

“It’s good to see people focused on debt management and reduction”, said senior vice president of Personal Financing Products for RBC Andrea Bolger in a press release. “It’s important that Canadians feel confident and understand that managing debt is crucial to their financial success.” She also added that, “Regularly reviewing your borrowing needs and credit situation while building your assets with the help of an RBC advisor is key to staying on top of your finances and ensuring your goals are being met.”

The senior vice president and chief economist for RBC, Craig Wright said in the same press release that, “The uncertain and uneven global economic outlook has not gone unnoticed by consumers, translating to heightened anxiety and weaker confidence,” he said, “the continued uncertainty and uneven recovery was one of the factors contributing to us downgrading our 2010 forecast, expecting GDP growth of 3.3 per cent, down from 3.6 per cent projected last quarter.”

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2010 Canadian Housing Observer Released

Posted on October 9, 2010 | Leave a comment

The annual Canada Mortgage and Housing Corporation publication, the Canadian Housing Observer, has been released for the year 2010. The publication offers a comprehensive review on new home construction, rental and sales or renovations of new and existing homes in Canada.

“The Canadian Housing Observer provides a comprehensive review of the critical role housing plays in the Canadian economy,” said Karen Kinsley, the president of the Canada Mortgage and Housing Corporation in a press release. “The Observer details the far-reaching impact of housing in generating economic activity and employment across sectors, and highlights how housing finance continues to be a cornerstone of Canada’s financial system.”

Some key findings in this year’s Observer include that the number of owner-occupied condominiums across Canada increased almost 40 percent from 2001 to 2006, that renovation spending reached $40.3 billion in 2009 growing by almost 3 per cent, and that Canada’s housing market is strong enough to survive recessionary periods because of consumer behaviour, regulatory oversight, government involvement and prudent financial industry practice.

This issue of the Observer looks into other aspects of housing in the last 10 years not previously covered in past issues like core housing need and sustainable community initiatives by the Government of Canada. The Canada Mortgage and Housing Corporation has also introduced a new online tool recently that provides custom data tables to users displaying various housing information.

The 2010 Canadian Housing Market Observer is available at this link: www.cmhc.ca/en/corp/about/cahoob/index.cfm

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Canadians Focus On Savings After Recession

Posted on August 9, 2010 | Leave a comment

According to financial services industry insiders, Canadians are putting more of their money in savings accounts and less in higher-risk investments. Normally, an increase of three to five percent in the amount of Canadians opening chequing and savings accounts is expected annually, but this year the number has grown by 20 per cent.

David McVay, a financial services consultant, told the Canadian Press that the change in Canadians opening up bank accounts is a substantial increase.

“Canadians are more conservative than they were in 2007,” McVay told CBC News. “We’re seeing a shift from stock investing into keeping more money in savings accounts because of the financial crisis,” he said.

Soon-to-retire baby boomers are trying to play it smart, rather than take risks that could have them putting off retirement even longer.

Banks are also picking up on Canadians’ uncertainty, and according to McVay, “the banks are marketing to the uncertainty that Canadians have about their savings and retirement plans caused by the financial crisis.” Banks can also make more money through savings accounts opposed to stocks or bonds that are doing poorly, and cater to consumers with points incentives and cash-back options.

Potential homeowners did take advantage of the better outlook during the early stages of recovery though, jumping on lower interest rates.

“We did see households, spurred by ultra-low interest rates, accumulating debt, largely for the purpose of homeownership,” said McVay, “but going forward that does need to slow and households do need to save more in order to rebalance their finances and bring down the potential vulnerabilities that households would face as interest rates rise.”

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Bike and Car Sharing Becoming A Part of Downtown Toronto Life

Posted on August 6, 2010 | Leave a comment

Many downtown home and condominium owners don’t find it convenient to pay to store a car, never mind the cost of the car itself or the insurance. However, several innovative companies that offer car sharing have begun catering to Toronto.

Car sharing allows Torontonians with valid drivers licenses to pay a low hourly or daily rate to essentially rent a car. Drivers don’t pay any insurance, and when they need to fill up there’s a handy gas card inside of the car, providing free gas for wherever life takes them in an SUV, Mini Cooper or BMW.

It’s even considered green, allowing car-sharers an extra feeling of smugness over car owners as they learn that according to one leading company, each one of their over 6,000 cars takes up to 20 extra personally-owned cars – and their emissions – off our roads.

The convenience factor is extremely high: make a reservation online or on your cell phone, and then go find the car when it’s time. They’re parked all over the city, on streets or in public parking lots. You keep a small hotel key-like card in your wallet and use it to unlock the car when it’s time for your reservation, and the keys are inside. No talking to anyone, no waiting and best of all – no human error. Some companies even reward drivers with credit if they bring their vehicle to the car wash.

Now, a new company that might bring green transportation sharing to a new level in Toronto with bike sharing. The company, Bixi, will place 85 “stations” across the city where patrons can grab a bike, go where they need to go and return the bike to any station they choose – which is one of the biggest drawbacks to most car-sharing companies, where the car must be returned to its original parking space.

According to CBC, the program will cost riders $78 per year, $28 per month of $5 per day, along with a dollar here and there for each ride. But, the company needs about 1,000 subscribers by November 30th, otherwise the city can’t let them operate. If they get enough public awareness and sponsors, Bixi is expected to launch Spring 2011.

You can learn more about Bixi in Toronto here: www.toronto.ca/legdocs/mmis/2010/cc/bgrd/backgroundfile-30125.pdf

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The History of the Toronto Real Estate Board

Posted on July 21, 2010 | Leave a comment

Source:  Toronto Real Estate Board

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New Toronto Island tunnel could begin construction Spring 2011

Posted on July 16, 2010 | Leave a comment

The Toronto Port Authority has announced that early next year it will break ground on a pedestrian tunnel that links the end of Bathurst Street with Billy Bishop Toronto City Centre Airport. In total, the project is projected to cost $45 million.

Only five years ago, 25,000 people used the airport. Last year, 770,000 people used the airport and an estimated 1.2 million people will make their way to the Billy Bishop Airport this year. The majority of the costs will also be covered by a $20 fee tacked onto every fare paid at the airport.

The tunnel only goes to the airport, and will not provide access to island attractions like residences or beaches much like the existing ferry.

It’s estimated that it will take about two years to complete the tunnel, running about 400 feet across Lake Ontario, underneath its shale bed.

The new tunnel will increase the number of takeoffs and landings at the airport. A public-private partnership will prevent an additional $19 millon improvement fee on the airport.

An assessment on the effects of the tunnel on local surroundings and the operation of the airport is expected to be released in August. The amount the tunnel eventually costs may increase depending on the assessment.

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