CMHC: No Housing Market Crash + Yonge St more pedestrian friendly

CMHC: Housing market crash not in the cards	August 2012

Although home sales and average prices were down this July as compared to 2011, the CMHC continues to predict that we won't be seeing a housing crash. One of the reasons condo sales were down could be the new mortgage rules that took effect in July.

Scroll down for more from the CMHC as well as an article on why it's important to have an emergency fund, where to park in Toronto if you don't want to be towed and how part of Yonge St is being reduced to one lane of traffic to make it more pedestrian friendly.

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Michelle

Michelle Brienza, AMP (Lic # M0806298) Senior Mortgage Agent Lending Logic Financial Inc.(Broker # 11782) Direct: (416) 410-5761 Fax: (416) 410-5761
www.michellemortgages.ca
michelle@michellemortgages.ca

Yonge St. pedestrian fair: Toronto's main drag making a comeback?

A bold experiment is taking place on Toronto's main drag: four weeks of pedestrian-only pockets carved out of Yonge St., with one lane of traffic each way.

The "Celebrate Yonge" fair runs from Queen to Gerrard Sts. and begins Friday - a trial attempt at a better Yonge for everyone.

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When one home isn't enough

You never know what goes on behind closed doors but it's probably not much in some luxury locales because the owners are not home.

Based on the tales of real estate professionals and financial planners, multiple home ownership is becoming more common as the wealthy spread out beyond just owning a cottage to having a U.S. address or even some European digs.

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Housing market crash not in cards for Canada: CMHC

OTTAWA - Canada Mortgage and Housing Corp. is forecasting a moderate slowdown in new-home construction starts as well as sales of existing housing.

The Ottawa-based federal agency isn't calling for a major decline, but its latest forecast suggests next year will be somewhat softer than estimates CMHC issued in June while 2012 may be somewhat stronger than previously expected.

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Towing companies snub Toronto's low-tow zone

Want to test your luck parking in a tow-away zone? Head to Toronto's "District 5."

Not a single towing company bid for the three-year contract to tow cars in District 5 after the Toronto Police Services Board requested proposals for the second time in April.

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Canadians have no emergency fund

Nearly half of Canadians are an emergency away from taking on debt or raiding their RRSPs to get by, according to a new poll.

Financial advisors recommend having three months of income saved for emergencies, but only 55 per cent of Canadians do, according to research from Harris/Decima.

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