Toronto is the 5th most livable city in the world according to the Economist magazine. The magazine considered factors such as stability, health care, culture, environment and infrastructure when comparing the 132 cities featured in the survey. Vancouver took the top spot for the fifth year in a row.
Things could be better for Harry Stinson. The Toronto developer has lost control of the luxury hotel and condominium One King West as well as his property at 66 Temperance where he planned to build the Sapphire Tower. Who ever said being an ultra-über real estate developer was easy?
The Bank of Canada has indicated that it may not be raising interest rates at its next policy meeting on September 5th. This is good news for HomeBuyers because analysts were expecting an increase in interest rates in September. Deputy governor Pierre Duguay noted that "given recent events in global credit markets, we need to assess the extent to which the risks around our July projections have shifted."
Ryerson M.A. student Sean Nix is studying land-use patterns in the hopes of discouraging our reliance on cars:
An example of a smart growth neighbourhood is Cornell in Markham, which has diversified the area to include stores and other commercial development within walking distance. Because of this, 45 per cent of residents in Cornell reported they walked or biked to local services several times a week... In comparison, only one in five residents of traditional suburbs walks or bikes to local services.
August 31, 2007This Week In Real Estate |