August 14 2017
Kitchener Waterloo Real Estate News Update
August 14 2017. In today’s news: Google Canada, OpenText, downtown Edmonton, CRA serious about condo flippers, Facebook, and Canadian household debt
Google Canada head leaves moves to Pelmorex
During his time at Google Canada, Sam Sebastian helped the company oversee the expansion of its operations in the Kitchener-Waterloo region
OpenText acquires forensic security firm
OpenText a provider of enterprise information management systems, announced that it is set to acquire Pasadena, California-based Guidance Software for $300 million. Guidance Software develops and provides software solutions for digital investigations and forensic security. The company’s main software solution, EnCase, provides visibility of all endpoints and devices, and allows users to manage data visibility, as well as discover and tackle risk and malware.
Downtown Edmonton, can I move in with you musical apartment rental ad goes viral
If you have a decent place to rent downtown, please call this guy
KW News in your inbox
Get the KW real estate news right in your inbox
The CRA is serious about going after house and condo flippers
Canada Revenue Agency officials say they want details about people who signed agreements with the developers to buy condo units, but then assigned that purchase agreement to another person before the units were constructed.
Would you like a place to live with that?
A client who just returned from living in Silicon Valley told me that if you need a plumber (or any tradesman) you have to pay a hour or more ‘travel time’ because they cannot afford to live near Silicon Valley. And here is a story about Facebook cafeteria employees. Facebook is located in Palo Alto, north of San Jose, the third most expensive rental market in the country.
Is household debt really a problem?
Canadians’ ability to repay debt has come to the fore again as the Bank of Canada this month hiked its overnight interest rate for the first time in seven years. Now the overnight rate rests at 0.75 per cent still historically low: the rate was close to 13 per cent in 1990. And as a result of low rates, as little as 6 per cent of household disposable income was recently going towards debt, versus nearly 11 per cent in 1990.