Richard Silver

Economy Category

What Kind of Mayor Does Toronto Need Now?

With David Miller deciding not to run in the upcoming Toronto Mayoralty race, it begs the question "What kind of Mayor does Toronto need now?"  Mayor Miller has left us with a wonderful City in decline... If you, like me, are wondering why it took a 5 week summer Strike to end up with a City Workers contract that could have probably been negotiated without a Strike, I would tell you that it is symptomatic of what is wrong with Mayor...Continue Reading...

Real Estate: Downsizing with Style and Grace: Part Two

Thanks for the great response and ideas from the first post on Downsizing...before I add some more thoughts, let's talk about some of the issues generated after Post One: There seems to be a universal response to the negative naming of the difficult process: Downsizing. However, I remembered with some friendly prodding that Barry Lebow, Founder of  The Accredited Senior Agent Designation refers to it as "Rightsizing", a term defined as "to undergo a reduction to an optimal size". I like referring...Continue Reading...

Toronto Real Estate Board Releases Canadian Consumer Price Index August 2009

Click on the Full Screen Button at the bottom of this slide to View. Then press ESC or escape when finished. Canadian Consumer Price Index August2009View more documents from Richard Silver.Continue Reading...

Greater Toronto Area REALTORS® Report August Mid-Month Resale Market Figures

TORONTO, August 18, 2009 - In the first two weeks of August, Greater Toronto REALTORS® reported 3,832 sales – up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796. "The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term," said TREB President Tom...Continue Reading...

Real Estate Pricing: Who Sets the Price in Real Estate?

“It is REALTORS who make the marketplace and set the prices that Buyers have to pay!”. I have heard this statement time and time again... Unless your REALTOR is beating you about the head to either sell for a certain price or buy at a certain price, it is the Buyer who decides if he will short, meet or surpass the Seller’s price. REALTORS give you suggested guidelines but it is your money that you spend or receive and it is...Continue Reading...

Province of Ontario’s Bill 150: the Green Energy Act

Years ago both the Toronto Real Estate Board and the Ontario Real Estate Association started lobbying the Government of Ontario to institute Green policies throughout the Province. However, what the Provincial Government has proposed in its' Green Energy Act has some very fundamental flaws which should be looked at: At present, in Bill 150, the Province is moving ahead with mandating energy audits on Residential Real Estate, making it part of the Agreement of Purchase and Sale. Condominiums, Commercial and Industrial properties however...Continue Reading...

The Canadian Economy: An Outsider’s Viewpoint

Fareed Zacharia of CNN has written an article for February's Newsweek that is a must read for all Canadians, especially our "naysayers". It is in the US Edition and is called a Worthwhile Canadian Initiative. It is an outsider's view of the Canadian Banking system and the Canadian Economy in general.  I suggest you have a read and make sure that it gets around. It is time we were less insecure about our position in the World. (more...)Continue Reading...

Bank of Canada Cuts Interest Rates! January 2009!

Below is a press release from the Canadian Real Estate Association about the Bank of Canada cutting rates.  Bank of Canada cuts interest rates again in January Published January 20, 2009 As widely expected, the Bank of Canada lowered its benchmark overnight lending rate by a half of a percentage point to one per cent at its setting on January 20th, 2009. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, declined to 1.25 per cent. The Bank acknowledged...Continue Reading...

An Idea To Stimulate The Economy!!!

I have been thinking seriously about some steps that the Canadian Government could take to really stimulate the Economy, especially now that the Stock Market has gone through a real adjustment and the interest rates are low.  Here's the idea that I would like to float...let Prime Minister Stephen Harper and Finance Minister Jim Flaherty know about it,  although I have it on great authority that they read this blog every day.... Canadians are great savers and have, for years, been building their RRSP's....Continue Reading...

Cross Canada: CREA Reports Yearly 2008 Sales

The Canadian Real Estate Association has reported the Sales activity for 2008. Their press release is below or by clicking here. Annual MLS® home sales activity declines in 2008 National MLS® resale housing activity in Canada in 2008 pulled back from the record setting levels of the previous five years and fell to the lowest level since 2002, according to statistics released by The Canadian Real Estate Association (CREA). (more...)Continue Reading...