Canada Real Estate Is Still Very Rosy

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Canadians richer than ever, and cutting back on mortgage debt

Debt growth eases

Canadians are getting the message on their ugly debt levels, at the same time as their wealth increases.

Mortgage debt growth slowed: Statistics Canada

Mortgage debt in Canada rose just 0.6 per cent in the first quarter of the year, to $1.1-trillion, marking the slowest pace since the depths of the financial crisis in early 2009, Statistics Canada said.

Canadians’ household debt ratio drops asmortgage borrowing slows to 5-year low …

More http://www.theglobeandmail.com

Still, we are confused …

Reading Toronto’s real estate market is no easy task

Last week the Canadian Real Estate Association reported that sales across the country rose 5.9 per cent in May compared with April.

More http://www.theglobeandmail.com

Mirror, mirror on the wall … What’s happening ?

The Magic Mirror says why don’t you buy this baby … ?

271 Chaplin Crescent – FOREST HILL

This is a 3 bedroom, 2 bathroom house on a 35 x 106 foot lot overlooking the beltline at 271 Chaplin Crescent.

Though I would want to paint all that wood and I can’t figure out how they wash dishes in that sink…

I really like this house.

But considering that it is on a 35 foot lot, it will probably get torn down and replaced with something like the house down the street on the deeper 30 foot lot at 289 Chaplin Crescent.

This house is listed at $1,199,000.

The house at 289 Chaplin Crescent recently sold for $3,350,000.

So for $2 million, you could build a pretty great house!

But, this is also a great house as it is (even if it is a little tired and isn’t exactly big).

There is no way this is going for asking.

I am thinking more like $1,350,000. Maybe even $1.4.

by the MASH

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Ontario: Fire Code refers to Building Code to determine building safety

By Corruption Victim of City of Toronto It was comforting to hear the assuring statement by Toronto Fire Chief Matthew Pegg: – Officials say London inferno won’t happen in Toronto : Strict building codes and inspections should prevent similar infernos “Here in Ontario we are fortunate to have the comprehensive fire protection and fire safety measures that are contained in the building code ,” He further explains residential building in the province must be constructed with non-combustible construction (in accordance with the Ontario Building Code ) ie. be built out of materials that don’t burn. Of particular interest here is the fact that the Fire Chief himself confirmed Fire Code refers to Building Code to determine building safety . In another word, building that contravened the building Code in fire safety also violated the Fire Code (under the Fire Protection and Prevention Act, 1997). Unfortunately, an inquiry with Toronto Fire Prevention revealed the responsible...

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