Notice: Undefined index: Criteria in /home/canadar7/subdomains/master/public_html/components/com_jreviews_addons/quick2cart/plugins/quick2cart.php on line 191

Notice: Undefined index: Criteria in /home/canadar7/subdomains/master/public_html/components/com_jreviews_addons/quick2cart/plugins/quick2cart.php on line 191

Notice: Undefined index: Criteria in /home/canadar7/subdomains/master/public_html/components/com_jreviews_addons/quick2cart/plugins/quick2cart.php on line 191

Notice: Undefined index: Criteria in /home/canadar7/subdomains/master/public_html/components/com_jreviews_addons/quick2cart/plugins/quick2cart.php on line 191
News

Industry news.

2336 results - showing 16 - 30  
« 1 2 3 4 5 ... »  
Ordering 
 
I Bought a Condo and It Ruined My Life
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 16, 2017   6   0   0   0   0   0
At the age of 24, making $35,000 a year working as an editorial aide at a newspaper, I bought some real estate: a 770-square-foot, one-bedroom condo in northern Virginia. This was in 2006, when the housing bubble was at its most distended. It was basically the worst time to buy a piece of real estate—especially in the DC area, where inflated prices are the norm in any market condition. I avoided a subprime loan because I had the backing of my middle-class parents, but this was still a terrible, terrible decision. Eleven years later, I'm stuck in debt, besieged by bank fees and unable to get myself out of what has become a life-altering real estate clusterfuck. Even as the country recovers from the crash of 2008, the financial crisis is still dragging me down. Looking back, it's easy for strangers to armchair quarterback my path to financial ruin. I obviously wasn't making enough on my own to afford the place, and my career choice, print journalism, has never been known for its robust earning potential. And this was at a time when newspaper jobs were decreasing, and digital media jobs were still few in number. Nevertheless, my parents pressed me on the idea of home ownership. I told them I had heard there might be a housing bubble. They brushed it off. I worried what would happen if I suddenly had to move to another city for work, a very real possibility for someone starting out in newspapers. They told...
CXP Puts Dry Powder to Work with More Than $1 Billion in Office Purcha
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 15, 2017   8   0   0   0   0   0
After a quiet first half of 2017, Columbia Property Trust, Inc. (NYSE: CXP) has fired off more than $1 billion in acquisitions since the July 4 holiday including a flurry of deals for buildings in New York City and Washington, D.C. totaling $935 million, the company announced Wednesday. In early July, Atlanta-based Columbia obtained a nearly 50% interest in an office tower at 114 Fifth Ave. in Manhattan as part of a joint venture. View Original Article[1] References ^ View Original Article (www.costar.com)
Why Airbnb and WeWork Are Partnering Up Estate Investor
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 15, 2017   8   0   0   0   0   0
Road warriors traveling to New York, Washington, D.C., Chicago, Los Angeles, London or Sidney can now book lodging accommodations and workspaces simultaneously through the Airbnb business app or web channel. A partnership of Airbnb and WeWork launched an initial phase of a new bed-and-work pilot program last week in these five cities, because they are the most heavily traveled locations for business travelers. Currently, there are no plans to expand the program to additional cities. The way the program works is that once a traveler books lodging in one of these cities through Airbnb, he/she is offered the option to book workspace at a nearby WeWork location by clicking on the WeWork icon, notes an Airbnb spokesman. WeWork has 15 locations in Los Angeles, six in Chicago, 43 in New York, 10 in D.C., three in Sidney and 23 (plus another opening soon) in London. According to Chip Conley, Airbnb’s head of global hospitality, nearly 10 percent of Airbnb customers are traveling on business. Visiting travelers can plug-in and work in open WeWork spaces, such as indoor lounge areas or outdoor spaces, for $50 per day and have access to a conference room for $25 per hour, but the first day, as well as one hour of conference room time, is free. “Since it is an early test, we have not made arrangements around revenue sharing,” says Airbnb’s spokesperson. However, “During this pilot, WeWork is covering the cost of the free or discounted co-working space.” ...
Report: Strong construction pipeline, rising rents continue for Charlo
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 15, 2017   8   0   0   0   0   0
With 1.6 million square feet recently delivered and more than 1.9 million square feet under construction, Charlotte's office development pipeline remains strong. Heading into the last months of 2017, Charlotte is expected to see a strong fourth quarter in absorption and delivery while rents continue to rise, according to a Q3 office market report by JLL. The midtown submarket, which includes South End, and uptown in particular have significant new supply coming online. View Original Article[1] References ^ View Original Article (www.bizjournals.com)
News Canadian Real Estate Magazine   October 13, 2017   5   0   0   0   0   0
Competition in Toronto’s condo rental market has become so fierce that bidding wars are on the rise. “Competition amongst renters [for condo rentals] is going to remain pretty intense, and there’s not going to be a lot of availability,” said Urbanation’s Vice President, Shaun Hildebrand.“Rentals will have multiple bidders on them and the situation won’t correct itself any time soon.We will need more supply in the marketplace through higher condo completions as we move into 2020, 2021, which will help provide relief to the market for a period of time.” But he also warned that the entire rental market will be in dire straits unless purpose-built rental developments are supplied in considerable numbers. A lot of factors have conspired to put relentless pressure on the rental market – the astronomical cost of homeownership, stricter mortgage qualifications, high migration and the Fair Housing Plan, among others – but none has been more pronounced than the supply shortage. Moreover, the reintroduction of rent control has provided tenants increased incentive to remain in their dwellings, stunting the turnover rate. “It was already happening before, because if you were an existing tenant your landlord wouldn’t increase your rent by more than a couple of percent, but on the open market those rents have increased quicker, so that’s why people were staying
News Canadian Real Estate Magazine   October 13, 2017   6   0   0   0   0   0
Work on what is set to become the tallest liveable building nationwide has begun in Toronto last week, the structure’s developer announced. The One, touted by developer Foster + Partners as a state-of-the-art building combining residential and commercial spaces, is an 85-storey, 306-metre structure situated at the border of the downtown area and the Yorkville neighbourhood. The tower is designed as a “clearly articulated building” that will offer commercial units at lower levels and residential apartments at the higher floors. “The structural frame is clearly expressed on the façade creating a distinctive series of vertical, horizontal and diagonal framing elements that are clad in a champagne bronze colour,” Foster + Partners stated.“The building is further articulated with the introduction of horizontal bands at regular intervals where mechanical floors are located.By expressing the functions and its distinctive structure, the building acquires a unique identity, becoming an outstanding new addition to the Toronto skyline.” “The residential floors are based on consistent 57 square-metre (620-square-foot) planning modules, allowing for flexible configurations throughout.The tower is topped by a series of duplex penthouses, which have sweeping views across Lake Ontario and beyond,” the developer added. “The One is the final piece of the jigsaw in the tower cluster at the Yonge and Bloor node – one of the most prominent intersections
What Is the True Number of Store Closings for 2017? | National Real Estate Investor
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 13, 2017   15   0   0   0   0   0
Retail industry pundits have been sounding very sure about the trajectory of department and specialty store counts lately, and the consensus is that stores have been closing by the thousands. Experts point to the growing consumer preference to browse online for the specialty goods that would ordinarily be found at brick-and-mortar locations. In the latest sobering research, Fung Global Retail & Technology found that as of the week ended October 6, retailers announced 6,101 store closings, up 183 percent on a year-over-year basis, according to the firm’s Store Openings & Closures Tracker[1]. Not all of Fung Global’s analysis seemed dire, however. The firm also found that retailers had planned 3,427 in store openings, up 60 percent on a year-over-year basis. The latter finding might have lowered the intensity of the alarm, but another analysis sounded outright positive about the future for retail store openings. Broaden the scope of analysis IHL, a Franklin, Tenn.-based retail research group, recently found that the industry would see net store openings of about 4,080. The company looked at a broader sample of the retail industry than department and specialty hard goods and soft goods stores, the two segments that are hardest hit by store closures. Aside from those stores, IHL examined store openings and closings in seven other segments: superstores and warehouse clubs, supermarkets, drug stores, mass merchandisers, convenience stores, bars and restaurants and fast food stores. About five specialty chains represent 28 percent of announced store closings, while 16...
Kushners' Manhattan Tower on Track for Its Worst Year Since 2011
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 13, 2017   12   0   0   0   0   0
(Bloomberg)—The midtown Manhattan office tower owned by Kushner Cos. and Vornado Realty Trust is on track to lose $24 million this year, marking the worst performance for 666 Fifth Ave. since a 2011 refinancing. The property had net operating income of $18.3 million for the six months ending in June, according to data filed by the property’s lenders. Debt payments were $30.4 million during the period. The tower’s cash flow is enough to cover only about half of the debt payments on the building, down from 66 percent last year. The ratio has been declining every year since Vornado became a partner in the skyscraper as a result of the refinancing. The losses stem from a $1.2 billion mortgage that Kushner Cos. took on in 2007, when the tower was purchased at the peak of New York’s commercial-property market. While the refinancing temporarily lowered interest payments on the loan, rates have been climbing as a February 2019 repayment deadline approaches. The building is 30 percent vacant. A spokesman for Kushner Cos. said the company wasn’t available to comment Thursday because of the Jewish holiday. A representative for Vornado didn’t immediately respond to a phone call. Kushner Cos. is owned by the family of Jared Kushner, a senior adviser and son-in-law to President Donald Trump. Jared Kushner divested his stake in the building and other assets to family members to take the White House job. The firm has searched around the globe for an investor to help raze...
Canadian home resale prices see biggest drop in 7 years - Article
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 13, 2017   16   0   0   0   0   0
Canadian home resale prices in September staged their biggest fall in seven years, while new home prices were flat in August in the once red-hot markets of Toronto and Vancouver, adding to evidence that the country's housing boom continued to cool, data showed on Thursday. Prices dropped 0.8 per cent in September from August, the first monthly decline since 2016 and the biggest since September 2010, according to the Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes. Fraser Institute criticizes OSFI's proposed new mortgage rules The Office of the Superintendent of Financial Institutions (OSFI) proposed in July new measures to stress-test borrowers' ability to pay back loans. The Fraser Institute says this may have unintended consequences for the mortgage market and for homebuyers. CTV's Chief Financial Commentator Pattie Lovett-Reid explains. National price gains also slowed on an annual basis, with prices up 11.4 per cent from last year, compared to an annual increase of 13.1 per cent in August. Two recent interest rate hikes by the Bank of Canada have helped rein in demand, and analysts are divided over whether the market will manage a soft landing or see a U.S. style housing crash. Price increases of more than 30 per cent in Toronto early in the year sparked fears of a housing bubble, and the provincial government slapped a 15 per cent foreign buyers tax on purchases in the city to cool speculation....
Canadian housing having ‘Goldilocks’ moment: Royal LePage - Article
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 13, 2017   14   0   0   0   0   0
Home prices in Canada’s five biggest housing markets rose at a manageable pace in the third quarter for the first time in six years, according to the latest Royal LePage House Price Survey. The report, released Thursday, revealed prices in the Greater Toronto Area, Greater Vancouver, and Greater Montreal Area, Calgary, and Ottawa all rose at rates between 1.5 and 3.5 per cent on a quarter-over-quarter basis. “Uneven regional economic growth has plagued Canada for much of the past decade, a challenge most evident in the nation’s housing markets,” Royal LePage President and CEO Phil Soper said in the report. “For the first time since 2011, we are seeing real estate in all five of our largest cities appreciate at a manageable, healthy clip.” “Canadian housing is enjoying a Goldilocks moment – not too hot, and not too cold,” Soper added. “For now, the Toronto and Vancouver housing markets have returned to earth,” he continued, noting rising interest rates and a strong loonie kept prices from appreciating rapidly.    Of the five major markets, Toronto saw the greatest year-over-year aggregate home price increase in the third quarter, rising 21.7 per cent to $860,295. Vancouver home prices inched 2.5 per cent higher to $1,229,133, whereas Montreal prices climbed at a higher-than-normal pace, surging 14.3 per cent year-over-year to $511,129. While Toronto saw the biggest price increases year-over-year, home sales in the region have slumped in wake of Ontario’s 16-point plan aimed at cooling the market. Soper...
Selling a Rental Property? 4 Crucial Points to Consider | realtor.com®
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 12, 2017   15   0   0   0   0   0
We've discussed the process of selling a house[1] you live in, but selling a rental property is an entirely different bird. For tax purposes, a rental house or condo is considered an investment property, which makes the sale a bit more complicated. When you sell a rental it can be subject to different taxes and rules than a standard residential sale. Read on for the essential facts. 1. Your tenant may have first right of refusal One of the first things to understand is how local real estate laws will affect your sale. Real estate expert and author Michele Lerner says, for example, in Washington, DC, tenants have a “first right of refusal[2],” which means that landlords need to notify the tenant when they are putting the property on the market and must provide the tenant with a complete disclosure of the sales price and other information about the property. The tenant has a specific time period during which he can respond to the landlord and either make an offer on the property or decline to buy it. After that, if the owner receives an acceptable offer from someone other than the tenant, the tenant will have another chance to match the offer or decline to buy it. “None of this may apply in your area, but it’s important to be aware of local legislation when you sell property,” Lerner says. 2. Don't rule out a rent-to-own arrangement Pricing is often the most difficult negotiation you'll have if your tenant wants to buy the property...
Michael Glimcher Takes On a New Role at a Pivotal Industry Moment
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 12, 2017   15   0   0   0   0   0
Regional mall owner Starwood Retail Partners has a new CEO—REIT industry veteran Michael Glimcher. Glimcher, who spent 27 years, including 12 as CEO, at Glimcher Realty Trust, will now be responsible for running Starwood Retail’s portfolio of 30 malls and lifestyle centers. The company is a division of global real estate investment firm Starwood Capital Group, run by noted investor Barry Sternlicht. Starting in 2012 and continuing through 2016, the company had been assembling a sizeable mall portfolio[1], buying assets from operators like the Westfield Group (it has since been trying to dispose of some of those malls[2], according to Bloomberg). Glimcher resigned from his previous position last year, after Glimcher Realty Trust merged with Washington Prime Group and formed a new REIT entity[3]. He referred to the SEC filing about his resignation when asked about the reasons for his departure, declining to go into detail. The filing states that Glimcher and the REIT’s board of directors had no dispute, and simply had “differing views as to the strategic direction of the company.” NREI recently spoke with Glimcher about his new position, his outlook for the retail real estate sector and where he envisions taking Starwood Retail Partners. This interview has been edited for style and clarity. NREI: How did the opportunity with Starwood Retail come about? Michael Glimcher: I heard from an industry friend that there was an interest in having a conversation and for me the opportunity to work with such a great organization and a visionary leader like...
The Right Multifamily Investment Opportunities for HNW Investors
 
0.0
 
0.0 (0)
Canadian Real Estate Street Smart REI   October 12, 2017   12   0   0   0   0   0
As high-net-worth (HNW) investors and family offices look to increase their portfolio allocations in real estate, the multifamily sector continues to offer attractive investment opportunities[1]. HNW investors demanding predictable cash flows from core properties or value‑add yields on ground-up and redevelopment projects can meet these objectives in the multifamily sector. In this context, what are the market cues that can help pick opportunities that will generate returns that align with portfolio goals? Risks and rewards of multifamily investments While gateway markets such as San Francisco and New York City are attractive, they have also experienced significant multifamily development. That new supply can dampen rental rate increases[2], and when factoring in the high cost of entry in gateway markets, returns are more quickly impacted when rent growth stagnates. Conversely, secondary markets, like Salt Lake City and Denver, have seen comparatively less new development despite strong population and job growth. We think that these markets provide more predictable returns[3] and a more attractive option for HNW investors. Millennials are increasingly demanding more rental housing, and developers are responding with designs and amenities that serve their predicted behaviors. The increase in the development of smaller units in urban environments is one example of this. That said, investors need to exercise caution when too much of this type of product is being delivered in certain markets. Like generations before them, millennials will eventually look to purchase homes in good school districts for their families, and likely in more suburban areas. Separately, growing contingents of...
News Canadian Real Estate Magazine   October 11, 2017   13   0   0   0   0   0
In its latest study, insolvency firm Hoyes, Michalos &Associates revealed that the average unsecured debt of those filing for insolvency in the Kitchener-Waterloo region and Wellington County is $48,437, slightly lower than the Ontario average of $52,634. The report defined unsecured debt as credit card debt, unsecured bank loans, income tax debt, and student loans. The study added that while the average unsecured debt of those who file for insolvency has decreased over the last few years, the phenomenon remains largely driven by a changing housing market and a downward trend in household income. “The reason for that is people are getting into trouble and having problems servicing their debt at lower levels,” co-owner Doug Hoyes told CBC News. “In August, only 6% of our clients actually owned a home at the time they filed a bankruptcy or a proposal,” Hoyes added, noting that this is the lowest level he has seen for that metric. This proportion has slightly gone up since then, which Hoyes attributed to falling house prices, especially considering the recent interest rate hike.He stated that homeowners who hold large unsecured debts seem to prefer filing for insolvency rather than using their homes to repay these obligations, even in part. “We’re going to keep a real close
News Canadian Real Estate Magazine   October 11, 2017   13   0   0   0   0   0
Conventional economic factors including population, incomes and borrowing costs accounted for less than half of the 40% surge in Toronto home prices between 2010 and 2016, according to a Canada Mortgage &Housing Corp.study obtained by Bloomberg through a freedom of information request. Supply constraints, and to a lesser extent speculation and investment, drove most of the rest of the gains, although a lack of high-quality data about the availability of land made firm conclusions hard to draw. The report detailed the “puzzling” dynamics of the Toronto market and suggested factors other than demand are pushing prices higher, leaving Prime Minister Justin Trudeau few options to ease the affordability crisis.It may also mean more needs to be done to promote supply and curb speculation, issues more readily dealt with at the municipal level. “While price increases in Vancouver have largely been supported by economic fundamentals, a more puzzling result points to the state of the Toronto market, where fundamentals haven’t been as strong,” CMHC analysts wrote in the 134-page study prepared for Families Minister Jean-Yves Duclos. The report supported Bank of Canada Governor Stephen Poloz’s view that interest rates aren’t the best tool for dealing with potential housing bubbles.CMHC found about three-quarters of Vancouver’s price gains were tied to fundamentals, versus 40% in Toronto, suggesting the latter city
2336 results - showing 16 - 30  
« 1 2 3 4 5 ... »  
Results per page:  
Category: News
The Canadian housing sector is a study in contrasts,...
Category: News
A common question we constantly get asked is, what’s...
Reports that tied Alberta’s faltering real estate market to...
 
0.0
 
0.0 (0)
A new 10-year study debunks the myths about condo...
 
0.0
 
0.0 (0)
CRE Industry Cheers Trump’s Proposal to Cut Corporate Tax Rate, But Wants More Details
The Trump administration unveiled the initial tenets...
 
0.0
 
0.0 (0)
Category: News
The record-low mortgage rate environment seems poised to continue,...
Category: News
Oversupply continues to plague one previously-booming market, according to...
Some Apartment Markets Are Facing Challenges Estate Investor
In a few overbuilt downtowns, apartment rents...
 
0.0
 
0.0 (0)