Toronto Real Estate and Neighbourhoods Blog | Move Smartly

Is 'Torontoness' the Answer to the Canadian Identity Crisis?

Urmi Desai in Urban Issues

Over the weekend, Tom Kent's widely-read piece on Canadian citizenship, "Canada is much more than a hotel," appeared in the Globe and Mail.  Kent, a former assistant to Prime Minister Lester B. Pearson, argues that Canada's citizenship and immigration laws require updating.  Kent raises some important points which deserve an honest vetting, but - typical of the genre - his conclusions are ultimately confusing.  One can't demand loyalty, but can "encourage it" through taxation and obligatory citizenship.  Loyalty, in turn, serves to strengthen our flagging sense of identity, a weakness that is "our special Canadian problem."  Only when we believe ourselves to be Canadian - and only Canadian - can we make a difference in a complex and interdependent world.  Less interconnectedness apparently goes further in an interconnected world.

Several weeks ago, I attended a Maclean's debate featuring New Yorker writers Adam Gopnik and Malcolm Gladwell on - wait for it - Canadian identity.  As we settled into our seats, a sense of giddy apprehension pervaded U of T's Convocation Hall.  One has to wonder if a society that readily commits to congregating to discuss identity problems (even paying for the pleasure) doesn't share the same masochistic loyalty of couples chronically in therapy.  Perhaps Mr. Kent need not worry.

Thanks to Maclean's attempt to engender a livelier debate by recruiting "new voices" - those of Canadian writers who haven't lived here for the past ten years or more - not much was added to the cannon familiar to debating clubs across Canada.  With such threadbare material, the debate was ultimately one of style.  While Gladwell offered buzz-word theories to admirably distill complex ideas into uncomplicated Kool-Aid, Gopnik relied on his gifts of close observation (read people-watching) and lyrical oration.  Ultimately, Gopnik held us in rhythmic sway, describing his recent ascent of Montreal, where he saw not a city, but a kaleidoscope of contributions made by individuals with strongly-hued identities of their own - shards of brightly-coloured glass that together mesmerize and inspire us. 

It was only later when I tuned into the weekly broadcast of Laurie Taylor, BBC's sociologist of the people, that I realized that I had failed to observe something key about the debate. Gopnik's crowning moment - to which the audience responded with the loudest applause of the night - wasn't about a country, it was about a city. 

Dufferin Grove

Jesse Fleming in Toronto Neighbourhoods

My favourite Toronto housing style has always been, what I call, the ‘downtown house.’  They are numerous within Dufferin Grove (check out Realosophy's Dufferin Grove profile for local school and housing stats), as well as many other older Toronto neighbourhoods, and I never grow tired of admiring them.  These tall, narrow, Victorianesque three-storied houses can be found in semi-detached and fully-detached models; some have steep peaked roofs and others sport flattened tops.  I had an internal squeal of delight when walking amongst these neighbourhood streets lined with vespa-occupied driveways and chocolaty scents wafting from the Nestle Food Group, just west of Dufferin Street - it was complete and utter sensory overload.

Along Dufferin Grove’s borders of Bloor Street West, Dundas Street West, Ossington Avenue and Dufferin Street, a portion of this neighbourhood’s apartments can be found in the form of high-rise buildings and units located above retail stores - Juliet balconies pepper the outsides of these otherwise discreet abodes.  Within the neighbourhood, many larger houses have been subdivided and rented as individual apartments varying in size.  The Church Lofts located at Dovercourt Road and Bloor Street West are currently under construction.

Supreme Court Rules on Joint Name Transfer for Real Estate Assets

Bob Aaron in Legal

It's not uncommon for an elderly parent to transfer real estate or other assets into joint names with his or her adult children. When this happens, does the law presume that the transfer is a gift, or does the child merely hold the asset in trust for the parent?

Those were the questions which arose in the case of Pecore v. Pecore, which was decided by the Supreme Court of Canada last year.

In 1993, Edwin Hughes was advised that his $1 million estate could save significant probate fees on his death if he transferred ownership into the joint names of himself and his daughter Paula Pecore.

After most of the estate was transferred, Hughes was told that this type of transfer could trigger a significant capital gain on the profit on Paula's "half" of the assets.

Since that was not his intention, he wrote letters to the financial institutions holding the assets stating that the ownership change was for probate purposes only (to avoid the 1.5 per cent probate fees), and was not to be interpreted as a gift to Paula during his lifetime.

Shortly before he died, Hughes signed a will dividing his estate equally between Paula and her husband Michael Pecore. When Hughes died, Paula redeemed all of the investments, which she was entitled to do because they were registered jointly with her father.

Two years later, in the midst of divorce proceedings, Michael discovered he was entitled to half of his father-in-law's estate and sued Paula for his share.

Move Smartly Blogger on Globe and Mail Live Chat

Realosophy Team in Realosophy News

John Pasalis, our resident real estate blogger, will be participating in a live chat on the Globe and Mail website on Friday, April 25th at noon.  You can submit your questions to the Globe now or join in the chat on Friday.

John will be speaking to growing concerns about Toronto's real estate market, as well as sharing some insights into recent market developments in Toronto's neighbourhoods.

We hope that you will be able to join John on Friday.

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Letting it All Hang Out: Ontario's Clothesline Ban Lifted....Finally

Jesse Fleming in Urban Issues

“There is a whole generation of kids growing up today who think a clothesline is a wrestling move,” Premier McGuinty quipped during his announcement that Ontario’s residents are free to use clotheslines, overriding restrictions, especially in newer developments, that stipulate otherwise.  As I had promised in a previous post, I have been keeping an eye out for this news which came just in time for Ontarians to take advantage of the first glorious weekend of 2008 and the apparent transition from winter directly into summer, skipping the minor detail that is spring.  Mother Nature sure is a fickle one.

Reiterating what I had mentioned before, clotheslines not only prolong the life of your dryer but also reduce your energy bills - the dryer is one of the highest energy users in a home, playing second fiddle only to the refrigerator.  For those who do not have a clothesline, Toronto Hydro-Electric System is giving them away for free at select Toronto retail locations throughout late-April and early-May.  A free clothesline and utility bill savings is really a win-win situation.

This step in the environmentally right direction pertains only to semi and fully detached homes and townhouses.  I had my fingers crossed that the clothesline allowance would be inclusive towards apartment and condominiums, depending on their layout, but no such luck.  For now, I have to remain content in my alternative methods of energy reduction.

Jesse Fleming is a freelance writer based in Toronto. Email Jesse

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Home Buying in a Gentrified Toronto

Rachel Loizos in Legal, Real Estate Trends

Assuming that Toronto has a housing bubble, and that it will not burst (or if it does, it won’t be soon enough), how are average people supposed to enter the market? I agree that consumers should not buy above their means, but what if that results in being priced out of everywhere you want to live?

I came across a very interesting New York Times article recently that (although cheekily mocked for its navel-gazing in a satirical blog) does raise a very interesting point.  The article, peppered with Richard Florida references,  highlights Brooklyn and the San Francisco Bay area where people, priced out of the market, join together to purchase property that they could not otherwise afford.

In a previous post, I described Tenancy in Common, a method of owning property with others.  In the face of gentrification and rising markets in general, this could provide those people who were going to share a rental space the opportunity to share an owned space.  Obviously, this type of ownership is not for everyone, and it is not a new concept - but obviously more relevant as we face increased housing costs and fewer options.

I believe that this kind of ownership is certainly a sensible way to start.  Having said that, make sure you go in to the transaction with your expectations known, and even if you decide to buy property with your brother, make sure that you have documented the agreement between you in detail.  Nothing drives people apart like disputes over money so to protect the relationship, make sure you have clear expectations from the outset.   

Rachel Loizos is an associate lawyer at Sotos LLP in Toronto. She practices in the area of real estate law.
Email Rachel

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Related Posts:

How to Take Title - Sole Ownership, Joint Tenancy and Tenancy in Common

Richard Florida and Toronto's Openness Paradox

Bejeweled Phantoms: Will Foreign Investors Accelerate Gentrification in Toronto?

 

Ontario Home Buyer Pays Price for Jilting Agent

Bob Aaron in Home Buying Tips, Legal

Earlier this month, the Ontario Superior Court of Justice released a decision which highlights the obligations of parties signing a buyer-agency agreement.

In the fall of 2005, Helen Clubine was looking at properties in the Orangeville area with her real estate agent Zoi Boussoulas.

By early January, 2006, Clubine had inspected a property known as Willow Hall several times, and was finally ready to put in an offer to purchase it.

At the time the offer was being prepared and signed, Boussoulas presented Clubine with a standard form buyer-agency agreement (now known as a buyer representation agreement), which gave the broker exclusive authority to act as the buyer's agent until June 30, 2006.

This form, which is commonly used in the real estate industry, provides that the broker is entitled to be paid commission if the buyer enters into an agreement to purchase any property, during the running of the agreement. If the seller does not pay the commission, or all of it, the buyer is required to pay it.

Toronto Real Estate Sales Rebound in the First Half of April 2008

John in Toronto Real Estate News

Resale home sales in the Greater Toronto Area  are down 5% in the first half of April compared to the same period last year.  This is an increase over last month which saw a 22% decrease in sales volume when compared to March 2007.

Prices increased by 7% over the same period last year.

Here are the latest numbers from the Toronto Real Estate Board:

The Greater Toronto Area resale housing market saw 3,955 homes change hands in the first half of April, down five per cent from the same time period last year, Toronto Real Estate Board President Maureen O’Neill announced today.

“The first half of April brought sales activity within five per cent of mid-April 2007,” said Ms. O’Neill.

In the City of Toronto sales are down 11 per cent compared to a year ago, with 1,514 transactions taking place. Inthe 905 suburbs, sales are down just over one per cent to 2,441 for mid-month April 2008 from 2,477 sales midmonth April 2007.

Throughout the GTA prices have risen seven per cent compared to the same timeframe last year, to an average of $399,117. In the City of Toronto the average stands at $454,211 up 10 per cent over mid-April 2007. The 905 Region has seen a six per cent increase compared to a year ago, with a current average price of $364,939.

Media Roundup - April 18th

Media Roundup

The cooling housing market is dominating headlines this week:

Softer sales will cool market

Housing sales tumble across Canada

Canada's housing boom ends

Shy lenders, and the oil patch, will help Canada fend off recession

Recession roadmap

Property tax battle begins anew

U.S. housing bust not so special: report

A little mortgage savvy gets some big savings

Trustees move ahead on school closings

TTC strike deadline set

TTC studies using Tasers

Toronto: A City Becoming...er, Way Too Insular

We ignore Toronto's inner-city crisis at our peril

North America's largest doc festival begins in Toronto

Heritage Toronto walking tour begins Saturday

Ledbury Park

Jesse Fleming in Toronto Neighbourhoods

Similar to any older Toronto neighbourhood, the trend of knocking down post-war homes (usually bungalows) and building grander, modernized abodes in their stead is prevalent on any street throughout Ledbury Park (check out Realosophy's Ledbury Park Neighbourhood Profile for local school and housing stats).  Notable is the evidence that, despite the bungalow being added to Ledbury Park's endangered species list, dappled in between new and ongoing construction are reminders and variations of these 1950s favourites that once dominated the entire area.