May 25 2020 — Ian Bickis, The Canadian Press — TORONTO — Used car dealers in Ontario are starting to recover from the near total shutdown in April, but a survey released Monday suggests they expect sales and prices to be under pressure for the year as economic uncertainty clouds the market. The sector was, like much of the economy, thrown into turmoil as physical distancing measures forced dealers to […]
May 14 2020 — Ian Bickis, The Canadian Press — TORONTO — Brookfield Asset Management Inc. sees investment opportunities growing in the coming months as the economy bounces back somewhat less than many expect. A slower recovery will mean more companies need capital and investment from firms like Brookfield that have been preparing for an economic shift, Brookfield chief executive Bruce Flatt told a conference call […]
May 11 2020 — Ian Bickis, The Canadian Press — TORONTO — The amount of commercial rent payments for May look to be similar to April, several real estate investment trusts said while reporting quarterly earnings, in spite of concerns the picture would worsen amid extended business closures. REITs such as SmartCentres, Crombie, First Capital Corp. and CT say levels were similar, despite the additional full month of COVID-19-related restrictions, though […]
May 7 2020 — Ian Bickis, The Canadian Press — TORONTO — The initial economic shock from the COVID-19 outbreak may start to ease as provinces reopen, but experts say it's important for those struggling with debt to think about the longer haul since there's still little clarity as to how long the effects will linger. How long the economic hangover lasts is anyone's guess, but it […]
May 1 2020 — Ian Bickis, The Canadian Press — TORONTO — Auto sales crashed in April to levels not seen in decades as restrictions and economic uncertainty around the COVID-19 took hold, DesRosiers Automotive Consultants said Friday. "April brought a further step into uncharted territory with light vehicle sales falling 74.6 per cent from 2019 levels," the consultancy said in a note. Sales for the […]
Apr 22 2020 — Ian Bickis, The Canadian Press — TORONTO — The Toronto Regional Real Estate Board says home sales were down 69 per cent in the first 17 days of April compared with a year ago as the COVID-19 outbreak put a chill on market activity. The drop in activity came as both economic worries and the state of emergency slowed sales, said board […]
Apr 16 2020 — Ian Bickis, The Canadian Press — TORONTO — It was a mixed day in markets Thursday as Canada's main stock index closed down on poor performance in the financials and energy sectors while major U.S. stock indices saw gains driven by major tech companies. The S&P/TSX composite index closed down 59.26 points at 13,899.32 after trading up earlier in the day on gains in the […]
Apr 16 2020 — Ian Bickis, The Canadian Press — TORONTO — Small businesses are hoping for promised rent relief from both landlords and government as the COVID-19-related shutdown drags on and their bills pile up. The urgency comes as some landlords have already started issuing eviction notices for businesses that didn't pay April rent, while those who were able to pay are stressed about the months to come. […]
Apr 16 2020 — Ian Bickis, The Canadian Press — TORONTO — Small businesses are hoping for promised rent relief from both landlords and government as the COVID-19-related shutdown drags on and their bills pile up. The urgency comes as some landlords have already started issuing eviction notices for businesses that didn't pay April rent, while those who were able to pay are stressed about the months to come. […]
Apr 6 2020 — Ian Bickis, The Canadian Press — TORONTO — Major commercial landlords in Canada are offering rent deferrals to tenants as the COVID-19 pandemic has forced many businesses to close their stores. RioCan, Choice Properties, and CT real estate investments trusts all said Monday that they were working with tenants who need support because of the financial challenges brought on by the outbreak. Loblaw landlord Choice Properties REIT […]
Mar 31 2020 — Ian Bickis, The Canadian Press — TORONTO — Canada's housing market could see a significant pullback this year because of the COVID-19 pandemic, but could rebound next year, a report by RBC says. This year's home resales could dive by 30 per cent to a 20-year low as physical distancing limits sales while the economic fallout erodes confidence and leaves speculators sitting on the sidelines, […]
Mar 30 2020 — Ian Bickis, The Canadian Press — TORONTO — Some of Canada's biggest residential landlords say they're committed to working with tenants who have lost their job because of the novel coronavirus pandemic. The signals come as efforts to contain the outbreak have led to huge business disruptions and surging unemployment that have made many Canadians worried about how they will pay next month's rent. […]
Mar 26 2020 — Ian Bickis, The Canadian Press — TORONTO — The coronavirus outbreak is pushing some realtors to turn away all but the most desperate clients, while others are adopting extraordinary measures in an effort to help maintain social distancing and stem the spread of the pandemic. Darren Slavens, a broker and vice-president at Toronto-based Slavens and Associates, says he has seen many agents decline to put out […]
Mar 24 2020 — Ian Bickis, The Canadian Press — TORONTO — Construction labour groups are raising concerns about working conditions during the COVID-19 pandemic as companies and governments respond with a range of strategies. The Ontario Construction Consortium, a group that advocates for construction workers, on Tuesday called on the Ontario government to suspend work on construction sites for two weeks to protect workers. "It makes no […]
Mar 23 2020 — Ian Bickis, The Canadian Press — TORONTO — The Toronto Regional and Ontario real estate boards have urged realtors to stop holding open houses because of the COVID-19 pandemic, following a similar move by the Greater Vancouver Area board last week. TRREB, which first issued the guidance on Saturday, said Monday that while the decision to hold open houses is up […]