Housing set to find even keel in spring
Record low interest rates and a lack of houses on the market have rekindled demand for Canadian real estate, helping to pull the industry out of its sales slump and setting the stage for the most balanced spring market in years.
The Canadian Real Estate Association said Monday that although prices were flat in October and sales slid more than 20 per cent compared with a year earlier, the market posted its third straight month of increased sales.
In a sign of stabilization after two years of wild fluctuations, CREA said October sales were halfway between the lows of December, 2008, and the record high of December, 2009.
Economists said October's data likely means the market bottomed out in July; while prices won't rocket to previous highs any time soon, it's unlikely they have much farther to fall.
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Break coming on Peak Hydro Pricing - Next Spring
 It's cold comfort now, but running the air conditioner and other appliances will cost less starting next May when the Ontario government cuts evening power prices two hours earlier, at 7 p.m.
The change in rates for about one million Ontarians on smart meters and time-of-use pricing will be announced Tuesday by Energy Minister Brad Duguid as he sets out a new long-term energy plan, a senior government source told the Star.
It follows last week's announcement from Premier Dalton McGuinty's Liberals-under constant fire for rising hydro rates-that consumers will get a 10 per cent price break on their bills starting in January, about $153 for the average homeowner.
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New Toronto bylaw could set embarassing precedent, expert says
The City of Toronto's new harmonized zoning bylaw - widely known for its controversial stipulations on driveway parking, but containing a host of other contentious legislation - has spurred nearly 700 appeals from residents and businesses, in what one planning expert says may set an embarrassing precedent.
"They're heading into quite likely the largest and most expensive [Ontario Municipal Board] hearing in the history of the province of Ontario," said Lorne Ross, the former commissioner of planning for Scarborough who is representing several appellants.
The massive, 5,000-page harmonized bylaw, passed at the final session of council in August.
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Nine Steps to a Better Credit Score
According to author and former financial adviser Kelley Keehn, there are lots of innocent things that can affect your score. For example, most people don't realize there are two important dates when it comes to paying off certain credit cards: the due date and the statement date. The statement date is when the card issuer reports your balance to the credit bureau, not the due date. So even if you pay your balance in full and on time each month, your credit score may not reflect that. Click here for the full article |
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Michelle Brienza
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Welcome to my newsletter for November, 2010.