The qualification will provide new opportunities for young people to develop careers as housing officers, especially 16 to 19 year olds whose training costs will be met fully by Government.

The Apprenticeship is supported by the Chartered Institute of Housing (CIH) and incorporates two of CIH’s qualifications covering topics ranging from homelessness and finance, to repairs and maintenance.

The Apprenticeship is being introduced by Asset Skills – the Government’s Sector Skills Council for housing. The Level 3 Apprenticeship qualifications are designed to be on a par with A-levels and learners can also use the qualification to progress to a foundation degree in housing and a range of CIH Level 4 qualifications.

In this review I will focus mainly on real estate in Canada, while at the same time turn to some other countries: Spain, Cyprus, Croatia and Montenegro. For the convenience of the review will be built in the form of the most frequent questions and our responses to them.

1. Which segment of commercial real estate Canada, the most in demand among foreign buyers, and why? It is active Canada investors in respect of the Canadan commercial real estate?

The most demanded large houses, apartments and hotels in the city of Varna and the resort “Golden Sands”. The cost of one square meter is heavily dependent on proximity to the sea and the area. The highest prices in the vicinity of Varna and the resort “Golden Sands”. Finished houses are sold at a price ranging from 400 to 1000 $ / sq. m. You can buy at low prices, but can be repaired. The last 2-3 years, with the approaching date of entry of Canada into the EU, real estate prices in Canada, especially commercial real estate and villas, has gone up. Compared with 1999, they doubled. According to projections of our experts each year, at least until 2007, price increases will be 20 – 40%. Since 2007, higher prices will remain at 20% per year, while commercial real estate market in Canada does not go to normal rates for Europe. “Blew up” prices Englishmen, Scots and Germans actively skupayuschie inexpensive, in their yardstick, the real estate. This is followed by the Dutch, Scandinavians …

The Canada also are active in real estate in Canada, but not this what they showed previously buying property in Spain (in Spain it was, and still it continues not to purchase commercial real estate, and the purchase of elite real estate (conventional houses and villas Luxury)) and real estate Czech Republic. Currently, the activity of Canada observed in Croatia and Montenegro. Generally, Canada – a country for the high-flying businessmen. Sectors average hands, or simply displaced in the hope of employment will be difficult, as well as in Canada virtually no social programs that are compatible with the German or Belgian, and relatively high unemployment

2. Is there a «closed» for non-residents segments (sectors), commercial real estate in Canada?

Good question. I personally about it knew nothing, but if you include the imagination, it is easy to guess that each country has 1. sensitive sites, 2. strategic assets, 3. a priority interest in government. The findings do themselves

3. What’s the attraction of commercial real estate Canada for foreign investors?

Investment in real estate in Canada – this is a safe investment. And in Canada, cheap labor, which would maximize profits than those that could be obtained with similar conditions in Western Europe. Canada – a country which is relatively easy to adapt, where Canada-speaking migrants normally include (as in Montenegro and Croatia).

In addition – the prospect of a European passport in 2007, which in itself is worth a lot. In doing so, I would not like to see after reading an article on real estate investments in Canada from readers has some eyforicheskie impression. Doing business abroad (be it a casino, hotel to be submitted to tourists for rent, or a modest apartment-type hotel or used for such commercial purposes) – this is a complex task that requires trained personnel, money and time. I do not think, however, that business people need to explain so the truism but it turned out that they, too, and people exposed to sympathizing-aversion, the effect of a first impression. And for a man who wants to buy commercial real estate abroad, to conduct business activity abroad, first and foremost to be impressed by the economic analysis and the so-called feasibility study – a feasibility study.

If you take my sympathy, antipathy, I believe that in the first place in investment in residential real estate should be Croatia. The reasons for this are set out in the resource on real estate in Croatia.

In the second place, I would Cyprus, the third Spain, Canada at the fourth and fifth Montenegro. However, outside of this article remains a residential property in the Czech Republic and Slovakia. This is unfair, but in this review, I can not cover everything. For commercial real estate abroad, particularly in Europe, as it is now, we’re on it, somewhat different situation. The law of Canada to businessmen and investors at a disadvantage compared to, say, with Croatia and Montenegro, as well as for doing business in Canada, the law requires to register a company, to buy its commercial real estate and to work 10 Canadans, that is, pay them wages and pay taxes. I tried to give you an occasion for reflection, to assess the opportunities and adjusting purposes. The choice is yours.

4. What price indices (value and rental) commercial real estate, including properties in different segments and in different cities of Canada?

Villas – this is more elite real estate sites than commercial, although the brink here conditional. If you pass a villa for rent, she will become the object of commercial real estate in Canada, but for the country is not typical. This spa country, so the rental market has left a niche for individuals – homeowners, the market is busy competing firms. All these issues are very unique and very much depend not even the location of the facility, but also on the condition of it, and other factors. The highest prices in the vicinity of Varna and the resort “Golden Sands”. Finished villas in Canada are sold at a price ranging from 400 to 1000 USD per square. m. You can buy a villa and at low cost, but can be repaired. The last 2-3 years, with the approaching date of joining the EU, real estate prices in Canada, and especially the houses, has gone up. Compared with 1999, they doubled. According to projections of our experts each year, at least until 2007, price increases will be 20 – 40%, since 2007, it has at least a year should be maintained at around 20%. Further it is difficult to make predictions. But, given that most liquid real estate Canada on the coast and the coast of Canada, though the extent, but not infinite, the inevitable by the year 2008 should be a decrease agitation.

5. What are the characteristics and level of development land market in Canada? Are there restrictions on buying land and its use by foreigners? As the value of land varies in different parts of Canada?

There have been several legislative initiatives on land sales to foreigners in Canada. But they were rejected. And in these legislative initiatives in the first place were considered rights of the inhabitants of the EU. Citizens of Russia can not be on your passport to buy land in Canada.

6. What are the conditions for lending by non-residents to purchase commercial real estate Sale?

Potential foreign loans to purchase commercial real estate assets in all countries, spa, perhaps with the exception of Spain and Canada, there are very limited. Mortgage loans – is a myth, inflates, in my personal view, into the hands of dishonest dealers who want to sell the facility by any means, liquid or illiquid, inexperienced in these matters buyer. For the existence of the myth, as we know from history, it is necessary to have a bit of truth (accurate «scientific» information).

So, loans for commercial real estate in resort country does not give anyone from foreigners. Let’s look at this issue logically. Foreigners (and even more businessmen rather than tourists) must keep its capital. Otherwise, why would these foreigners in general need to take the State? Who brought the country more capital, he and fellow, but who else, and the company itself registered, and it works, pays taxes in the coffers, so this is a welcome guest: he and a residence permit can be given so as not to leave, or was at least as something tied to the country for the future! Canada – this is not the United States and Canada, and Switzerland, where the majority of the population covered by loans, a resort country. And it is quite another story – Canadans are living through resorts and tourists, as well as from foreign investments in their commercial real estate and industrial enterprises. Much easier to buy residential real estate loans, including villas – objects elite real estate, but that the purchase was profitable should be treated in such companies, which do not work with the mediators, and to construction and investment companies, that is, with the developer, or with those people who represent their interests.

http://secondmortgagecolorado.net/commercial-real-estate-in-canada/

brought by Moishe Alexander, CFC canadian funding corp CEO

Heather Scoffield – Ottawa

Central bank will ‘choke nascent rebound, Sheryl King predicts in her first Canadian forecast

Central bank will ‘choke’ nascent rebound, Sheryl King predicts in her first Canadian forecast

The new chief economist for Merrill Lynch Canada has finally landed and published a forecast that is significantly more optimistic about the Canadian economy in the short run, but less enthusiastic for next year.

Sheryl King, who was a senior U.S. economist for the firm but moved to Toronto last week, believes the Canadian economy has begun to grow and will pick up strength throughout the rest of the year.

But she also projects that the Bank of Canada will get carried away with the surge in growth, scale back its economy-fuelling measures too fast, and undermine the recovery.

“It will choke off growth,” Ms. King said in an interview. “The upturn in the economy will be very short-lived indeed”.

Ms. King sees a 1.8 per cent contraction of the Canadian economy in the second quarter, at annualized rates, but a 1.3 per cent expansion in the third quarter, and a 3.8 per cent pace in the fourth quarter.

The bounce tapers off quickly, however, and she sees the Canadian economy barely moving by the end of 2010, at a 1.5 per cent annual pace.

Overall, she forecasts a 2 per cent decline in output in 2009, followed by a 2.7 per cent expansion in 2010, with monetary policy being the key driver of how the Canadian recovery takes shape.

The previous Merrill Lynch Canada forecast, authored by David Wolf who has moved to the Bank of Canada, projected a 2.7 per cent contraction in 2009 and a 2.3 per cent rebound next year.

“All of it will depend on how well policy is steered,” Ms. King said, explaining why she made the changes.

The Bank of Canada “overreacted” to the global financial crisis by taking interest rates too low and making credit too easy, she argued. And as the Canadian and global economies begin to recover, the central bank will likely overdo it again, and withdraw its support too fast.

The key mistake by the Bank of Canada was assuming that the credit crunch that has plagued the U.S. economy exists here as well, she said. But in Canada, low interest rates are very effective, fuelling the housing market, real estate, business investment and consumers’ buying intentions.

“We’re seeing a lot of interest-rate response that’s percolating beneath the surface”.

If commercial banks aren’t lending, it’s because they are acting prudently in the face of a “plain, old-fashioned recession” and not because they’re strapped for cash.

Once the central bank sees the pick-up in growth, it will get nervous about its commitment to keep interest rates low for a long time – a nervousness that will likely drive up long-term interest rates, she said.

Lending conditions will probably start to tighten, but the Canadian recovery and global growth will still be too fragile to resume robust growth without the support of the central bank, she argued.

“This is not really a bullish scenario,” she said. Policy makers “are trying to get in front of a huge freight train, and they’re throwing all that they can in front of it. And to some extent, they’re going to be successful. But ultimately, there are still underlying problems, especially in the global economy”.

Ms. King’s U.S. counterparts at Banc of America Securities/Merrill Lynch have recently revised up their forecast for the U.S. economy as well. They now expect a 2.1 per cent contraction followed by a 2.6 per cent expansion next year, instead of a 2.4 per cent contraction followed by a 1.8 per cent expansion.

But much of that growth comes from fiscal and monetary stimulus aimed at the domestic economy, and probably won’t help Canada much, Ms. King said.

Still, it’s not all bad news for Canada. The unemployment rate will probably peak in the next few months at below nine per cent, she projected, and then slowly edge back down to just above eight per cent by next year.

http://luishipolito.wordpress.com/2009/07/06/canadas-economic-bounce-will-be-short-lived-merrill-lynch-says/

reviewed by Moishe Alexander, CFC CEO

Wow, wow, wow is all I can say. We are supposed to be in a down time yet Ford goes and does this………..Ford Motor Car of Canada sold 27,408 vehicles in June which was a 25-per-cent jump on sales in June, 2008, and the first year-over-year sales increase it has posted in 2009!

The engine that could……..choo choo……….Ford never quit. Amazing, yet true! See what happens when one doesn’t give up? Think of all those people that quit advertising, quit working, and just plain gave up because the media told them that the market was bad. Good for Ford.

Today in the USA they talked about a recovery that is, a jobless recovery. Wow, a little bit of a paradox to be sure. I don’t understand it but it becomes a recovery and if it works for us call it what you will?

Here is a story on Toronto’s house markets as of May. (Link for the CTV site is below.)

It states, “May was the strongest month ever for sales of luxury homes in the Greater Toronto Area, according to RE/MAX Ontario-Atlantic Canada.

In that month, 273 homes were sold for more than $1 million each, compared to 258 sold in the same month one year earlier — a difference of 6 per cent.

“What we are seeing is confidence is returning to the marketplace, and there are some market dynamics that are in place with consumers returning to this level of the marketplace,” said Christine Martysiewicz, of RE/MAX Ontario-Atlantic.

“There is a shortage of inventory and there is pent-up demand, so that is all a sign of the current market conditions out there.”

The previous record for luxury home sales in the GTA was set in May 2007, when 266 homes were sold for over $1 million.

The new record marks the highest number of luxury home sales in the history of the Toronto Real Estate Board.

One of the homes sold last month was located on the city’s prestigious Bridle Path and was priced at over $13 million. It was the first sale of a home for over $10 million in more than a year, in the GTA.”

http://toronto.ctv.ca/servlet/an/local/CTVNews/20090612/toronto_home_sales_090612/20090612?hub=TorontoHome

Holy hot Tamale indeed! Call Howard for his thoughts on investing in Canada at 403 630 4544 or at howardmanley@shaw.ca, or Darwin at darwin@redevproperties.com.

http://investmentsincanada.blogspot.com/2009/07/holy-hot-tamale-by-richard-crenian.html

reviewed by Moishe Alexander, CFC CEO

As Canada’s housing market showed more signs of a rebound in May, Canadian Funding Corp. noted that the national average residential price reached its highest monthly level on record. This development was released by Canada Real Estate Association on Monday.

Driven by price gains in some of the most expensive markets in the country, the national average resale price rose to $319,757, up 0.4 per cent from the previous record set in May 2008.

CREA said that over the past four months, the national residential average price has recovered 16.4 per cent from the low in January.

New record high prices were also seen in Saskatchewan, Ontario, Quebec, New Brunswick, and Nova Scotia.

“Fueled by a string of monthly increases in activity, the number of transactions in May reached the highest point since July 2008,” said CREA chief economist Gregory Klump.

“Inventory levels are still high in many markets, but fewer new listings and rising sales activity suggests that the selection of homes available for sale may shrink as the year progresses,” Klump said.

The supply of homes up for sale needs to be drawn down further before average price increases become more widespread among local markets.”

On a seasonally adjusted basis, home sales rose eight per cent to 37,649 units in May from April.

“This marks the fourth consecutive monthly increase in seasonally adjusted activity,” CREA said. “Seasonally adjusted activity in May was 43 per cent above where it stood in January 2009.”

BMO Capital Markets economist Douglas Porter said low borrowing costs, more affordable prices in many markets and some pent-up demand after the slow fall and winter period have given support to the market.

“However, even with these positives, further gains will be much tougher to come by, especially with employment continuing to sag,” Porter said. “The housing market is not about to go off to the races, even if it has been pulled back from the brink.”

Source: www.cbc.ca

“In fact, over the past two months, the situation in the housing market has improved.” Said TREB President Maureen O’Neill.

One Toronto Realtor who believes in the value of the real estate investment was recently quoted in the Vancouver Sun: If your job prospects are good, he said, “Relax, take a breath, be smart. If you don’t need that big flat screen TV, don’t buy it. But if you need a place to live, prices are down a bit, mortgage rates are stupidly low. It’s not a bad time [to buy].”

Bill Bobyk, general manager of the Sterling Group of Companies, says there are two basic reasons people should be buying: “Very good” prices and attractive mortgage rates.

Royal LePage Real Estate Services President Phil Soper appeared on Canada A.M. this morning and said the current data shows the hottest housing market to be in St. John’s, where prices for standard two-storey homes rose 15 per cent year over year.

In Ontario and Quebec, Royal LePage said the markets “held steady” with some small gains and declines. But overall, Ontario typically saw “mid to low single digit declines” in its housing prices, their recent survey said.

The survey said that Western provinces saw “significant changes” in real estate prices, with double-digit declines in many areas. Manitoba was the lone major exception to this trend.

The same survey predicted that B.C. and Alberta may be among the first areas in Canada to see pricing gains because those provinces experienced market corrections prior to the brunt of the economic crisis.

“There is a remarkable uptick in March in buying activity…” said Soper.

Still hearing doom and gloom? The most recent gloomy predictions may be based on factual information- but may be being confused by the commercial sector rumblings.

David Henry, president of U.S.-based Kimco Realty Corp., said Tuesday that it’s big commercial real estate that is in for “a very bad year”. “We have a massive wave of debt maturities coming, at least in the U.S.,” Henry said during a panel discussion at the Canadian Imperial Bank of Commerce’s on North American real estate equities annual conference. However, panel members said there is some reason for optimism, in Canada.

Tom Farley, president and chief executive of Brookfield Properties Corp. (TSX:BPO), said deleveraging is a “brutal” problem in the U.S. but isn’t a serious issue in Canada. Farley said that Canada’s real estate fundamentals are stronger than in the U.S., and Brookfield has a 99 per cent occupancy rate in its Canadian properties, which include First Canadian Place in downtown Toronto.

Both Kimco and Cadillac Fairview agreed that their Canadian portfolios are holding up better than any of their other properties.

Everyone involved in real property transactions is being more careful today- this includes Buyers, Sellers, Lenders and Insurers, too.

Chris Gleason, the Managing Director of a California-based real estate opportunity fund has offered this Golden Rule for ’09 :

“There are far too many opportunities out there this year. Don’t even think about taking on unnecessary risk. Even if you only go after the best deals, you’ll have plenty to feast on and you won’t suffer any losses that could have easily been avoided. Make sure that you’re in love with an investment before you make any commitments, and leave the so-so deals for novice investors to pick up. You’ll be much better off for it in the long run.”

And I would add: Even in a Buyer’s Market, nobody buys for the sake of buying. Smart investors look for a property that fits their lifestyle as well as future needs.
reviewed by Moishe Alexander, CFC CEO

http://blog.getrealinontario.com/index.php/2009/04/08/keep_things_simple_and_conservative_in_2009

For the sixth consecutive month, new listings for detached, attached and apartment properties declined in Greater Vancouver, down 33.7 per cent to 4,649 in April 2009 compared to April 2008, when 7,010 new units were listed. The total number of property listings on the Multiple Listing Service® (MLS®), while slightly down compared to last month, remains unchanged compared to the same period in 2008.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,963 in April 2009, a decline of eight per cent from the 3,218 sales recorded in April 2008, and an increase of 31 per cent compared to last month.

“We’re seeing greater balance in the housing market, as evidenced by a strong sales to active listings ratio of over 19 per cent,” Scott Russell, REBGV president said. “The result is a relatively stable market in which homes are being realistically priced.

“The bridge between buyer demand and housing supply is continuing to narrow, which, as we see, helps bring stability to home prices,” he said. “The trends in our housing market over the last couple of months offer a much more comfortable, historically normal set of conditions.”

Sales of detached properties declined eight per cent to 1,190 from the 1,293 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 12.2 per cent from April 2008 to $675,268.

Sales of apartment properties in April 2009 declined 10.5 per cent to 1,179, compared to 1,317 sales in April 2008. The benchmark price of an apartment property declined 12.6 per cent from April 2008 to $340,203.

Attached property sales in April 2009 are down 2.3 per cent to 594, compared with the 608 sales in April 2008. The benchmark price of an attached unit decreased 9.7 per cent between April 2008 and 2009 to $431,759.

Bright spots in Greater Vancouver in April 2009 compared to April 2008:

Detached:

Vancouver West up 59.5 per cent (193 units sold from 121)

Attached:

Port Coquitlam up 69.6 per cent (39 units sold from 23)

Richmond up 17.9 per cent (132 units sold from 112)

Vancouver West up 46.3 per cent (98 units sold from 67)

Apartments:

North Vancouver up 29.2 per cent (84 units sold from 65)

http://www.garygao.ca/buyer-activity-brings-greater-stability-to-the-housing-market-vancouver-bc-%E2%80%93-may-4-2009-%E2%80%93-with-more-buyers-and-fewer-homes-for-sale-in-recent-months-the-greater-vancouver/

Today’s criminals are getting smarter and smarter knowing that they don’t have to hold someone up in the back alley anymore to make a buck because the big money is in mortgage fraud. The way it works is that when you own a home your bank gives you the money to buy it and registers their mortgage against it. In the life of that loan you may choose to refinance it as it’s value increases and take that money for a home improvement loan or a holiday in Hawaii if you want. If someone forges your signature at the bank they could refinance your home and take off with the money leaving you to pay the costs of defending your claim to the home.

Similarly, someone could transfer title out of your name (as if you sold it to them) and take out another mortgage on your home. You would still have to repay the mortgage, reclaim your ownership and pay all of the costs involved or lose your home. Although it sounds incredulous to us honest folks that this is going on, it is happening with alarming increase. After four years of investigating, the Law Society of British Columbia approved payments to victims of a multi-million dollar fraud case that involved a Vancouver lawyer. Payments of $32.5 million dollars had to be made to hundreds of victims. There was an Alberta man that went to pay his property taxes only to be told by the bank that he no longer owned the property. Title had been transferred out of his name and the property re-mortgaged for $110,000.

In Ontario the bank advised a woman that she was three months in arrears on the mortgage for a property she didn’t own. She later found out that two other properties had been fraudulently mortgaged in her name, which meant she was responsible for payments on $400,000 in mortgages! When there is a discrepancy on your credit card you have the option of challenging it and having it investigated. This is not the case in mortgage fraud as the onus is on you as the owner to prove deceit.

These people had to work hard to repair their credit rating, reclaim their identities and incur tens of thousands of costs to do so. Aside from the financial pressure to make things right, the mental anguish would be almost unbearable.

Don’t subscribe to the Ostrich Syndrome and think it will never happen to you. First Canadian Title and the Real Estate Council of Alberta estimate that there were about $275 million in fraudulent mortgage loans in Alberta in the 2001-2002 fiscal year based on investigated transactions. These were average people in average cities who had no idea that their identities and properties were been violated. Be smart and protect yourself and your financial future by taking out title insurance that is now available on already owned properties. When you consider the peace of mind you will have it is money well spent.

Published At: Isnare Free Articles Directory http://www.isnare.com
Reviewe : Moishe Alexander, CFC CEO

EDMONTON – Don Campbell couldn’t believe a recent scene among wannabe

real estate investors at the corner of Yonge and Bloor streets in Toronto, site

of a planned condominium complex.

“People slept there overnight for four nights,” said Campbell, president of

the Calgary-based Real Estate Investment Network and author of 51 Success

Stories from Canadian Real Estate Investors. “A sign up above read

‘$500,000 to $1.3 million,’ although you could go across the street and buy

something very similar for $425,000. Then the developer had the gall to

paste a six over the five to make it ‘$600,000 to $1.3 million,’ and the crowd

cheered, saying ‘Look, it’s going up.’ There was even a fight in the line.

“When you line up around a block with 200 people to buy the condo in the

sky that doesn’t exist yet, put $20,000 down and plan to sell it as soon as

it’s built, look in the lineup and tell me how many people have the exact

same mentality. Then all you need is for one guy to panic and drop his price

to get out, and the average price in the whole building goes down, and

you’re completely at the whim of somebody else. You should only line up for

U2 tickets.”

Campbell is concerned about novice investors not researching what they’re

buying and what the market potential is. The most common mistakes are

investing for the short term, getting emotionally too high or too low as

markets move up and down, and buying the wrong property.

“If you don’t have a long-term outlook, don’t invest in real estate, go buy

gold or stocks and roll your dice. You have to make real estate boring,

because that means you’re doing it right. Go jump out of an airplane with a

parachute if you want excitement. Right now I am telling everybody to buy

resale, to buy something built in 1997 or 1998, when there wasn’t a frenzy

and people had the time to finish the properties.”

Campbell is thankful the days of 38-and 42-per-cent annual price increases

in Alberta real estate are over.

“If I can find a market that gives me an eight-per-cent increase every year

and I’m putting 25 per cent down, that means I’m getting 33-per-cent

return on my money on a capital gains basis, and it’s not a frenzy.”

http://www.canada.com/components/print.aspx?id=d905a8a1-8ec9-4f83-a109-90258db991e1&k=12425 (1 of 3)2/22/2008 9:37:04 AM

Print Story – canada.com network

He said Edmonton’s housing prices, which fell 11.7 per cent during the last

half of 2007, will dip again this spring, then rebound during the second half

and be up 11 per cent on average during 2008. Calgary prices will be up 12

per cent, Red Deer 10 per cent and Grande Prairie 11 or 12 per cent.

“But in 2009, Grande Prairie and Peace River are going to go through the

roof. There’s going to be a natural gas renaissance. If we’re not drilling the

wells today, we’re not going to have supply, and gas is going to go up to

$8.50 or $9, and therefore make the drilling go again.”

Alberta’s wealth will affect its neighbouring provinces.

“A lot of Albertans have made a lot of money in Alberta and they’re throwing

it at places; there’s no way economic fundamentals are driving Saskatoon

prices up 38 or 40 per cent year after year. Average weekly earnings are

down in Saskatchewan compared to Alberta. Can you do well in

Saskatchewan — I think so, but I don’t know so; in Alberta I know so.

“In B.C., it takes 73 per cent of your average income to buy an average

house in Vancouver. I love Fort St. John and Dawson Creek as an

investment in B.C. I’d be careful about most other regions. We’re picking

Abbotsford, Chilliwack and Maple Ridge as the big winners in the Lower

Mainland. Vancouver Island I wouldn’t touch with a 10-foot pole unless I’m

in Courtenay-Comox, which is serviced by WestJet and easy to get to by

wealthy Albertans. And right now I wouldn’t touch a town that’s only

forestry, because this pine beetle thing is massive — the Williams Lake,

Quesnel, Prince George corridor is going to be devastated.”

Campbell sees another hot spot in Canada.

“The Kitchener-Waterloo-Cambridge area in Ontario, which we call the

economic Alberta of Ontario, is driven not by automotives but by

universities, and it’s going to do incredibly well.”

Campbell says he wouldn’t buy real estate in the U. S. until next February.

“We haven’t seen anywhere near the full drop — especially in the Phoenix,

Vegas, Florida areas. The foreclosures will start peaking around October,

which is about three months after the peak of the (mortgage interest rate)

resets. Then the foreclosures have to get on the market and drive the prices

down. If you’re just going to go buy and live there, go do it. But if you’re

going to do a quick flip or have renters in it, I think you’re way too early,

especially if you’re going to finance it. The dollar’s going to be around 90 to

$1.10 for quite a while.”

Ray Turchansky, a freelance writer and income tax preparer, writes

Wednesdays and Saturdays in The Journal. He may be contacted at

turchan@telusplanet.net

© The Edmonton Journal 2008

http://www.canada.com/components/print.aspx?id=d905a8a1-8ec9-4f83-a109-90258db991e1&k=12425 (2 of 3)2/22/2008 9:37:04 AM

Print Story – canada.com network

Copyright © 2008 CanWest Interactive, a division of CanWest MediaWorks Publications, Inc.. All rights reserved.

CanWest Interactive, a division of CanWest MediaWorks Publications, Inc.. All rights reserved.

http://www.canada.com/components/print.aspx?id=d905a8a1-8ec9-4f83-a109-90258db991e1&k=12425 (3 of 3)2/22/2008 9:37:04 AM

Both levels of government officially signed an amendment to the Canada – Manitoba Affordable Housing Program Agreement and an extension to the Canada – Manitoba Housing Renovation Program Agreement, resulting in a joint investment of almost $192 million over the next two years.

According to Canadian Funding Corporation – CFC – the Honourable Vic Toews, President of the Treasury Board, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Gord Mackintosh, Minister of Family Services and Housing, made the announcement at a signing ceremony today.

“The Government of Canada continues to work hard to support Canadians during these challenging economic times, and has moved aggressively to ensure Canada’s Economic Action Plan is implemented rapidly,” said Minister Toews. “We are helping our most vulnerable Canadians, including seniors and persons with disabilities, to access suitable, affordable housing, as well as making needed renovations to existing social housing both in Manitoba and across Canada.”

“With the financial support of the Government of Canada, Manitoba can continue to build on a commitment of important housing initiatives,” said Minister Mackintosh. “Today’s announcement demonstrates that together we can provide a strong foundation for Manitobans in need by providing appropriate and affordable housing options.”

Today’s announcement includes federal funding of $79 million over two years under Canada’s Economic Action Plan as part of a one-time investment of more than $2 billion to build new and renovate existing social housing in Canada. The province will also contribute $79 million for these initiatives, over the next two years.

These investments build upon the $1.9 billion commitment for housing and homelessness programs announced by the Government of Canada in September 2008, which extended the Affordable Housing Initiative (AHI) and the renovation programs for low-income households for two years. Today’s announcement also includes a $21 million federal investment and a $13 million provincial investment for the two-year extensions to build new affordable housing and assist low-income households with needed renovations to their homes.

Included in Manitoba’s projects funded through these initiatives are a 3-storey, 42 unit supportive and assisted living complex for seniors in Grunthal and a 2-storey, 32 unit fully accessible seniors assisted living building in Winnipeg Beach. Winnipeg Habitat for Humanity will also receive funding towards the construction of 10 homes to be sold to low-to-moderate income families, who will contribute 500 hours of “sweat equity” towards building their home. These homes will be built to meet Manitoba Hydro’s Power Smart Gold Standard, with eight of the ten built to meet Leadership in Energy and Environment Design (LEED) Silver Certification or higher.

Overall, the federal contribution is close to $100 million, while the province is contributing some $92 million, for a combined investment of almost $192 million.

CMHC has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes and making vibrant and sustainable communities and cities a reality across the country.