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GTA detached home sales jump in April
Detached homes are becoming so "precious" as the GTA continues to surge skyward, it's going to become increasingly difficult for families to find, let afford, the Holy Grail of housing - a place that isn't attached to the neighbour's.
Demand is so strong for that shrinking share of the region's housing stock, that sales of detached homes jumped 22 per cent across the GTA in April. The strong sales of those higher-priced homes helped push up the average price of homes (including condos, semis and detached) to $517,556 across the region - some 8.5 per cent higher than April of 2011, according to statistics from the Toronto Real Estate Board (TREB.)
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Yonge St. might get a lot more pedestrian friendly soon
Two lanes of Yonge Street between Gerrard and Richmond Streets could be closed for almost a month as part of Celebrate Yonge, a street festival co-produced by Councillor Kristyn Wong-Tam scheduled for later this summer. Under the plans heading for council, planters and other foliage will be installed in the street a few metres from the sidewalk to keep traffic to just two lanes. The closed portion side will alternate heading north.
"This is a very high-level, high-energy, urban intervention very similar to what you've seen in cities like New York on Broadway," says Councillor Wong-Tam
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Contact Me
  
Michelle Brienza
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Phone: (416) 410-5761
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Property management: Deconstructing rent-to-own
Investor Paul Hecht demystifies the rent-to-own strategy.
Rent-to-owns tend to become more popular in a buyers' market as sellers seek alternative ways of selling their properties. However, sellers, investors and tenants often make common, yet predictable mistakes. Understanding what a rent-to-own is, how it works, where it fails and how to protect yourself as a seller, an investor or as a tenant, can make all the difference.
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Why the Bank of Canada plays coy on interest rates
As central banks go, the Bank of Canada is about as transparent as it gets.
Former Governor David Dodge sought to demystify monetary policy for Canadians through an unprecedented 90-some speeches over his seven-year term. At the rate Mark Carney's speaking schedule is going, he'll have given just as many if not several more by the time his term ends in early 2015. Plus, in keeping with standard practice, Mr. Carney holds four scheduled press conferences in Ottawa a year to explain his latest forecasts and policy decisions. U.S. Federal Reserve Chairman Ben Bernanke just started facing reporters on a semi-regular basis last year, the first Fed chief to do so.
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An unpaid parking ticket can come back to haunt you
Of all the things that could derail the housing market, parking tickets do not top the list.
But poor credit does and parking tickets, like any other bill you don't pay, can come back to haunt you when you find out your credit score has actually taken a hit because you didn't take the fine seriously or worse were never even informed about it.
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Have you ever wondered what factors the Bank of Canada relies on when they make their decision about raising interest rates? The Globe recently published an article that sheds some light. Scroll down for that article plus: