By Emily Mathieu Affordable Housing Reporter Fri., Dec. 21, 2018 Sarah Bankuti was eight months pregnant and had been hospitalized for a health scare when she got news that should have changed her growing family’s life for the better: they had been randomly selected out of thousands of people to apply to move into a new affordable rental building in Regent Park. Toronto Community Housing, they were told by email, had pulled their names in a housing lottery of sorts and if they cleared the next round of paperwork they would move out of their cramped one bedroom in the east end and into a three-bedroom, two-bathroom apartment in March and pay just $1,358 a month. It was welcome news during a frightening time. They were in Michael Garron Hospital and she had been hooked to multiple monitors because their baby girl hadn’t moved for two days. Then they read the Oct. 26 email. “The baby started kicking right away,” says Bankuti, 33. … [Read more...] about ‘We are trying to explain … we don’t make this kind of money,’ says couple who won, then lost, a housing lottery
Utilities when moving into a new house
By James Mackintosh The Wall Street Journal Fri., Nov. 23, 2018 A rat-tat-tat of bad news hit stocks over the past two months, Wall Street strategists are obsessing over the odds of recession, and bears outnumber bulls in one popular investor survey. Was it merely bad luck that so many bad things happened all at once? Or is something wrong deep in the financial and economic system, that could tip the sharp selloff since late September into a bear market? The answer may be both. Bad things happen all the time, but when there’s nothing deep to worry about, they have little wider effect. Only when there are broader problems do idiosyncratic events build into broader trouble. This selloff may blow over, but conditions are getting ripe for a bigger market disruption soon. “Everyone always wants to know which match starts the forest fire,” says Matt King, credit strategist at Citigroup. “But the match that starts the fire is identical to all the other … [Read more...] about How worried should you be about a stock market selloff?
By Donovan Vincent Feature Writer Fri., Sept. 21, 2018 As the Oct. 22 municipal election draws nearer, we take a look at some of the most pressing challenges facing Toronto, what voters think, and how mayoral candidates propose to tackle them. The Issue: As Toronto has grown, it has become more unaffordable. One expert calls affordability the issue of the decade. A new public opinion poll suggests many Torontonians would agree. If there was a poster child for Toronto’s affordability problem, Gabriela Martinez would fit the bill. The bartender says she’s fed up with the sky-high cost of housing in Toronto and is planning to pack her bags in a few months and head to Montreal, where rents are far lower. She and a partner moved into a one-bedroom, $1,400 a month unit in an apartment building near Dufferin St. and Rogers Rd. in February. Article Continued Below They split the rent 50-50, but in July Martinez’s partner decided to … [Read more...] about This renter says the cost of living in Toronto is ‘ridiculous.’ A new poll suggests most Torontonians agree
By Edward Keenan Star Columnist Fri., May 4, 2018 What do caricature art and laneway housing have in common? Both can be cute. Neither is likely to be the solution to any grand-scale problem. Both seem like fine and good things to have around. And both have been so severely, absurdly overregulated by Toronto’s city council that they have been virtually illegal to create on the streets of Toronto. That was supposed to change, in both cases, starting this week. In the case of laneway housing, however, our elected officials look like they’re gonna council the whole thing up. Faced with a new policy that would set rules for homeowners to relatively easily build rental units on laneways on their property, Toronto and East York Community Council sent it back for more study. It was almost a caricature of their micromanaging and overregulating impulses. Article Continued Below The same impulses that led them to create rules requiring any artist … [Read more...] about Laneway housing: Count on Toronto council to radically complicate a simple idea
source Melia Robinson/Business Insider People are leaving San Francisco in droves as the cost of living reaches a new high. A recent report from real estate-site Redfin revealed that San Francisco lost more residents than any other city in the country in the last quarter of 2017. The great migration is far from over. Last month, 49% of Bay Area residents said they would consider leaving California because of the cost of living, according to a survey of 500 residents by public-relations firm Edelman. Here are all the crazy things happening because of the Bay Area’s insane housing prices: This is how people outside the area imagine living in San Francisco. source Melia Robinson And this is the reality. source iStock The median-priced home in San Francisco sells for $1.5 million, according to Paragon. It’s not uncommon for buyers to bid hundreds of thousands above asking and pay in all cash. source Melia Robinson/Business Insider Source: Paragon … [Read more...] about All the crazy things happening in San Francisco because of its out-of-control housing prices