July 13 2017 Kitchener Waterloo Real Estate News Update

July 13

July 13 2017

Kitchener Waterloo Real Estate News Update

 

In today’s news: So long Southworks, charts, radon, cities for  living, dying, working and traveling, Canada’s luxury real estate, and a bear in the kitchen…

Gone south

The Southworks Outlet Mall is closed. The former foundry turned outlet mall will next be the site of two 20-storey apartment towers, a public square with commercial and retail space.

Big banks follow suit with rate hike

The central bank lifted its key interest rate yesterday for the first time in seven years, pushing it to 0.75 per cent from 0.5 per cent.

Canada’s five biggest banks quickly followed suit, announcing they were increasing their prime lending rates by 25 basis points. Royal Bank of Canada, the Bank of Montreal, TD Bank, Scotiabank and CIBC are all raising their prime rates to 2.95 per cent from 2.7 per cent, effective today.

A chart, for chart’s sake

It’s a chart of Toronto real estate listing and sales volumes.

What can homeowners do about Radon?

Radon is an odourless and colourless gas, which is created by the natural breakdown of uranium in the soil. As radon escapes into the atmosphere, it can seep into your home through cracks. It’s the leading cause of lung cancer after smoking.

I love New York

An Ipsos poll suggests.Toronto and Vancouver are widely regarded as being among the world’s very best cities in which to live, but their reputations as tourist destinations and business hubs still need some work. New York City retained its top spot from 2013, while Abu Dhabi jumped ahead of London and Paris to lay claim to being the second best city in the world. Toronto and Vancouver came in 11th and 12th.

6 charts, for chart’s sake

Here are six charts showing why interest rates will rise.

Canadian luxury real estate market is as active as ever

An analysis of the most expensive residential properties for sale in Canada shows that the luxury home segment is not slowing down at all.

Good advice

There were a lot of seller-buyers (the move up marketeers) caught when the music stopped. Some lessons got learnt. This has been an under-reported phenomenon, but a serious one.

Not on your life

The cities with the highest homicide rates are once again nearly all in Latin America. South Africa and USA are also on the list.

 Goldilocks Principle

A 375-pound bear broke into a home and was caught on camera as it ransacked the place for six hours. It went through the refrigerator and well stocked pantry before wandering through the other rooms, presumably looking for a chair or a bed that was “just right”.

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