Industry leaders are cautioning agents working Toronto’s west end, warning them about a seemingly ideal client intent on luring them to vacant properties.
Four months after having its hand slapped by TREB, this online brokerage is closing its doors.
I'm sure you meant "rife" with speculation...rife (raɪf)adj (postpositive)1. of widespread occurrence; prevalent or current: rumour was rife in the village.2. very plentiful; abundant
As a Broker I would say the Rate move is an unnecessary show piece. This will entice the few remaining buyer persons into the Vancouver and Toronto markets that aren't currently over leveraged. What happens when 1/2 a point goes to 2, 4 or six percent or worse? Probably a third of the market will be critically encumbered. Why would the market turn? What if Greece doesn't perform a year from now. Just the government debt alone would cause a loss of 300 Billion to the marketplace. In 2008 it was Countrywide's 500,000 defaulting mortgages that started a predictable snowball of defaults throughout the US and international markets and a giant printing of paper currency to counteract the shortfall of available funds to the marketplace, which although paring down is still going on todayWhat happens to cash flow if lets say Iran's oil re entering the market drops international oil markets to $40?Or war in Ukraine? etceteraWhats missing in Canada is not a quarter point on the rates but rather a strategy for small and medium size business to enter the international trade world. I have been promoting this cause since '97 when it became clear Free Trade has thrust Canadian Business into an expand or die situation. Unfortunately many small and medium sized businesses consumed with the Business of doing Business have succumbed by default to the latter. If you have ANY doubt about what I am saying take a look around Southern Ontario where a significant amount of industrial activity surrounds tearing down manufacturing plants for their scrap value.If the government truly wants to be helpful why not investigate why a litre of gas in Ontario has crept back up to 1.10 from 70 cents even though a barrel of oil remains at 50 plus dollars.Or have an aggressive international competition plan for small and medium sized businessRescom Real Estate
It will be years before we see 6% rates again as nation and global economies just aren't strong enough to support them. As for southern Ontario Les, it was the unions and the greedy employees that closed all the plants I speak of Chatham specifically, no need for any money wasting investigations. I know I worked in 3 of them 1 food and 2 auto plants. As far as paying $1.10 per liter for fuel that is a bargain, we are paying $1.39 in BC. And small businesses like all others need to adapt to the market and trends or perish, simple really.
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