Toronto Mortgage, Finance And Other News – 23-07-2016

Your Weekly Dose Of Toronto Mortgage, Finance And Other News For The Week Ending 23-07-2016

In this week’s Toronto mortgage, finance and other news we present an interesting article which shows how much of a condominium needs to be sold before the developer will actually start building it, we take a look at commercial vacancies in downtown Toronto and there is good news about Ontario’s economic performance… Here are this week’s picks:


New Report On Condominium Construction In Toronto Reveals Surprising Stat…

Have you ever wondered how much of a condominium has to be sold before they will actually start building it? Well the percentage figure for new builds in Toronto might surprise you – find out at:

http://www.cp24.com/news/report-toronto-condo-builders-have-taken-conservative-path-to-adding-supply-1.2992753


A Look At Commercial Vacancy Rates In Downtown Toronto

In another surprising report, it was revealed that downtown Toronto has the lowest commercial vacancy rate in North America – find out who is in the top 10 alongside us at:

https://www.thestar.com/business/2016/07/20/torontos-office-vacancy-rate-lowest-in-north-america-report.html


Ontario Economy Shows Strong Growth (Relatively Speaking)

For Q1 2016, revised figures show the Ontario economy growing at 3%. This might not seem like large scale growth or anything to get excited about but this is not only the highest rate in Canada – but higher than any other G7 country! Read more at:

http://toronto.ctvnews.ca/better-than-expected-growth-will-help-eliminate-ont-deficit-in-2017-wynne-1.2991202


The Greater Toronto Airports Authority (GTAA) Looks To Add Technological Enhancements

The GTAA owns Pearson airport and this week signed an agreement with a leading data and technology company to look at technological advancements they can make at the airport…

http://finance.yahoo.com/news/greater-toronto-airports-authority-awards-140000312.html


Limited Speculation Suggests There Is No Toronto Condo Bubble…

Canada Mortgage and Housing Corporation (CMHC) issued a new report in which it has been shown there is not as much speculation (buying properties to flip them, as an investment property or just to make money) in the Toronto condo market as people thought. The above study – showing that 70% of Toronto condo units are actually sold before a developer begins construction – also supports their report. This is an important report, as it was speculation that caused the market crash in the 1980s – check it out at:

http://business.financialpost.com/personal-finance/mortgages-real-estate/cmhc-sees-no-1980s-style-housing-bubble-in-toronto-high-rise-condo-market


Justin Bieber Is Surprisingly In Trouble…

Ok I know it’s not exactly finance or mortgage news, but who can resist a dig at him? This time he apparently appeared on stage with 2 lions at a couple of Toronto shows…

http://www.cp24.com/entertainment-news/toronto-officials-warn-bieber-after-he-appears-with-lions-in-city-1.2998263


Yet Another Toronto Street Festival Announced

As if we didn’t already knew that Toronto was the capital of summer street festivals, they just went and added another. The new festival is going to be called ‘Ossfest’. Find out where, when and why it has been added to the calender at:

http://www.cbc.ca/news/canada/toronto/toronto-celebrates-1st-ever-ossfest-1.3692645


Large Air Canada Delays On Flight Back To Toronto See The Company Take Heat

Passengers due to fly back from Manchester to Toronto were delayed by 2 full days. Air Canada apparently did not handle the delay too well, so passengers took to social media to air their grievances…

http://www.ctvnews.ca/business/toronto-bound-air-canada-flight-delayed-by-48-hours-1.2999785


Toronto Blue Jays Lose To 7 Run Slog From Nelson Cruz.

Marking a rare occasion, the Toronto Blue Jays were out-scored massively 14-5 by Seattle. 7 of the Seattle runs were driven home by Nelson Cruz – who it a grand slam off followed by a 3 run shot off later. The unlucky pitcher was (less surprisingly) R A Dickey.

http://www.cp24.com/sports/mariners-cruz-hits-grand-slam-three-run-homer-in-14-5-win-over-blue-jays-1.2999620


Toronto Maple Leafs Pick Up A Top Draft Pick

The Toronto Maple Leafs have signed top draft pick Auston Matthews to a 3 year entry level contract. Learn more about him and why they picked him up at:http://www.ctvnews.ca/sports/leafs-sign-top-draft-pick-auston-matthews-to-3-year-contract-1.2996653


 

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