Andrea's Feed
Oct 27, 2014

Toronto voters to replace disgraced mayor; but his brother is in the race

TORONTO (Reuters) – Toronto voters were set to replace their notorious mayor, Rob Ford, in Monday’s election after Ford dropped out of the race in September after being diagnosed with cancer, but his elder brother still has a shot at the city’s top job.

Ford, who made global headlines last year when he admitted to using crack cocaine while in office, threw his support to his brother Doug Ford, a city councillor, who took his place on the mayoral ballot.

Oct 22, 2014

Lax security in focus after attack at Canada’s parliament

OTTAWA/TORONTO (Reuters) – Security in Canada’s capital came under criticism on Wednesday after a gunman was able to run through the unlocked front door of the main parliament building, and get close to Prime Minister Stephen Harper before being taken down in a flurry of gunfire. The gunman had first shot and killed a soldier at the nearby National War Memorial in central Ottawa before running into the parliament building, according to media reports, though Canadian police said they could not immediately confirm that the two shootings were carried out by the same assailant.

“Parliament Hill … is an icon of the government, and it would be expected to be one of the hardest of hard targets in this nation. It is therefore of abiding concern that this could have transpired,” said David Harris, a security consultant at Insignis Strategic Research and a former contractor for the Canadian Security Intelligence Service, Canada’s spy agency.

Oct 15, 2014

Canadian home resales ease in September, prices keep rising

TORONTO, Oct 15 (Reuters) – Home resales in Canada dropped
in September from August but prices continued to climb, separate
reports showed on Wednesday, suggesting tight supply supported
prices even as momentum in Canada’s hot housing market may be
starting to wane.

The Canadian Real Estate Association (CREA) said sales were
down 1.4 percent last month from August, the first monthly
decline since January. Sales dropped in about 60 percent of
local markets across the country and cooled in several booming
markets, including Toronto and Calgary.

Oct 13, 2014

Canada condo boom rolls on as buildings fall apart

TORONTO, Oct 13 (Reuters) – While Toronto’s housing boom
rolls on, some of the housing itself is falling apart.

Canada’s biggest city has more than 100,000 units under
construction as developers and investors seek to cash in on
condo prices that are up 25.7 percent in the city over the past
five years. The trouble is, many buildings are so poorly
constructed that some residents fear that the money-spinners of
today could become the slums of the future.

Oct 2, 2014

Canadian PM says budget deficit to be much less than forecast

BRAMPTON, Ontario, Oct 2 (Reuters) – Canada’s budget deficit
for the 2013/14 fiscal year is likely to be C$5.2 billion ($4.6
billion), rather than the C$16.6 billion forecast in February,
Prime Minister Stephen Harper said on Thursday.

Harper told a business audience the improvement was due in
large part to one-off factors, but did not give details. He said
Canada would run a small deficit in the 2014/15 fiscal year
before returning to surplus in 2015/16.

Sep 15, 2014

Canadian home sales surge in August, to peak in third quarter: CREA

TORONTO (Reuters) – Sales of existing homes in Canada rose in August from July, hitting the highest level since January 2010, the Canadian Real Estate Association (CREA) said on Monday, but it predicted sales will peak in the third quarter and decline in 2015.

The industry group for Canadian real estate agents said sales were up 1.8 percent last month from July. Actual sales for August, not seasonally adjusted, were up 2.1 percent from August 2013.

Sep 15, 2014

Canadian home sales surge in August, to peak in Q3 -CREA

TORONTO, Sept 15 (Reuters) – Sales of existing homes in
Canada rose in August from July, hitting the highest level since
January 2010, the Canadian Real Estate Association (CREA) said
on Monday, but it predicted sales will peak in the third quarter
and decline in 2015.

The industry group for Canadian real estate agents said
sales were up 1.8 percent last month from July. Actual sales for
August, not seasonally adjusted, were up 2.1 percent from August
2013.

Sep 12, 2014

Toronto mayoral race puts spotlight on lesser known Ford

TORONTO (Reuters) – The withdrawal of Toronto Mayor Rob Ford and the entry of his older brother in the race turned the spotlight from a volatile man who had admitted smoking crack cocaine to his less charismatic but steadier sibling, long seen as the power behind the throne.

Rob Ford, 45, hospitalized this week with an abdominal tumor, dropped his bid for re-election on Friday and his brother Doug, 49, took his place in the race to lead Canada’s largest city and financial capital.

Sep 12, 2014

Toronto mayor Rob Ford withdraws from race, brother steps in

TORONTO (Reuters) – Toronto Mayor Rob Ford, who gained global notoriety for admitting he smoked crack cocaine, dropped his re-election bid on Friday, citing a health crisis, but his older brother took his place in the race to run Canada’s largest city.

In drama worthy of Shakespeare, the family switch was made minutes before a deadline for changes to the city election ballot, which also saw a Ford nephew withdraw to allow his uncle, the mayor, to run for a city council seat in his place.

Sep 12, 2014

Canadian home prices rise in August – Teranet

TORONTO, Sept 12 (Reuters) – Canadian home prices rose in
August and the pace of 12-month home price appreciation
accelerated, a report showed on Friday, suggesting robust demand
for housing is carrying through to the second half of the year.

The Teranet-National Bank Composite House Price Index, which
measures price changes for repeat sales of single-family homes,
showed national home prices rose 0.8 percent last month,
exceeding the historical average for August.