Joe Preston, Member of Parliament for Elgin – Middlesex – London, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and Steve Peters, Member of Provincial Parliament for Elgin – Middlesex – London, along with Acting Mayor Tom Johnston, on behalf of St. Thomas Mayor Cliff Barwick made the announcement.

“Locally, this achievement gives a hand-up to individuals and families who need safe, affordable housing that meets their needs,” said MP Preston. “Our government is investing in this project to get the economy moving, creating immediate jobs and economic stimulus for the community.”

“These new homes are changing the lives of dozen families in St. Thomas,” said MPP Peters. “By building more affordable rental units, we are ensuring people in need have a safe place to call their own.”

“There continues to be a great demand for affordable housing in our community. With the co-operation of the Federal and Provincial governments we can see these needs being met,” said Mayor Cliff Barwick. “These buildings are assets for our community, and we appreciate the investment by Walter Ostojic and Sons and Collier Homes Inc., in developing additional housing units.”

Today’s grand opening ceremonies recognized two affordable housing projects funded through the two-year extension of the Canada – Ontario Affordable Housing Program:

* Funding of $444,000 for a six-unit affordable housing project for low-income households at 5 Park Avenue.
* Funding of $480,000 for a six-unit affordable housing project for low-income households at 89½ Fairview Avenue.

The federal and provincial funding for both projects is complemented by more than $179,000 in municipal financial incentives.

The Canada – Ontario Affordable Housing Program Agreement comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

In 2008, the Government of Canada committed more than $1.9 billion over five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and up to another $2 billion in loans municipalities for housing-related infrastructure. Combined for Ontario, this means a further $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement. The federal and provincial governments are contributing equally to this overall investment.

Moishe Alexander presents YouTube video on St. Thomas

The announcement was made by Gary Schellenberger, Member of Parliament for Perth – Wellington, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC).

“Our Government understands the importance of infrastructure in maintaining strong and prosperous communities,” said MP Schellenberger. “This program is opening the door for municipalities to meet their housing-related infrastructure needs. Canada’s Economic Action Plan will continue to create jobs and stimulate the local economy here in Minto, and in all corners of the country.”

Moishe Alexander comments that the approval for this loan for Minto to upgrade treatment systems is essential. Canadian Funding Corp is very happy to report on this. Mr. Alexander is studying the increased capacity which will aid Minto citizens.

The Town of Minto has been approved for more than $2.3 million in a low-cost loan from CMHC’s Municipal Infrastructure Lending Program (MILP), to upgrade its wastewater treatment systems. These funds will increase the capacity of the collection system and reduce the risk of sewer backups for residents of Minto.

Canada’s Economic Action Plan provides up to $2 billion in direct low-cost loans to municipalities, over two years, for housing-related infrastructure projects through the MILP. Municipal infrastructure loans are available to any municipality in Canada and provide a new source of funds for municipalities to invest in housing-related infrastructure projects. These low cost loans can also be used by municipalities to fund their contribution for cost-shared federal infrastructure programming.

“The Town of Minto greatly appreciates the funds made available through CMHC’s Municipal Infrastructure Lending Program,” said Mayor David Anderson. “The funds made available through this program allows the Town of Minto to better prepare for future growth and prosperity.”

Eligible projects include infrastructure related to housing services such as water, power generation and waste services, as well as local transportation infrastructure within and into residential areas, such as roads, sidewalks, lighting and green space.

Minto video – Moishe Alexander

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

Moishe Alexander points to Bob Dugan’s remarks. “Housing starts decreased in both the singles and the multiples segments in May,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The decrease in housing starts in May is consistent with our forecast that housing starts for 2010 will reach 182,000 units.”

The seasonally adjusted annual rate of urban starts decreased by 9.5 per cent to 165,200 units in May. Urban multiple starts decreased by 5.6 per cent to 92,800 units, while single urban starts decreased by 14.1 per cent to 72,400 units.

May’s seasonally adjusted annual rate of urban starts decreased 21.8 per cent in the Prairie region, 13 per cent in Quebec, 12.9 per cent in British Columbia, and 2.7 per cent in Ontario. Urban starts increased 23.3 per cent in Atlantic Canada.

Rural starts2 were estimated at a seasonally adjusted annual rate of 23,900 units in May.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

According to a CMHC report, Canadian Funding Corporation says that the Government of Canada announced an investment of $3.7 million, as part of Canada’s Economic Action Plan (CEAP), to improve housing conditions for the Piikani Nation community.

Ted Menzies, MP for Macleod and Parliamentary Secretary to the Minister of Finance, 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 the Honourable Chuck Strahl, Minister of Indian Affairs and Northern Development and Federal Interlocutor for Métis and Non-Status Indians, made the announcement along with members of the Piikani Nation community.

“Our Government recognizes that social housing on-reserve is getting older and a significant number of projects are in need of repairs and upgrading” said MP Menzies. “Through Canada’s Economic Action Plan, we are helping alleviate some of the pressing needs of members who live in the Piikani Nation community and we are also stimulating the local economy by creating jobs.”

Through CEAP, the Government of Canada has committed $400 million over the next two years to help First Nation communities build needed new housing, repair and remediate existing non-profit housing for their members, and complement housing programs offered by CMHC and Indian and Northern Affairs Canada (INAC). This investment will also provide an economic stimulus for many First Nations and surrounding areas by creating jobs.

The application calls for the new funding initiatives under CEAP were very successful and generated a large number of applications. As a result, both CMHC and INAC will be able to allocate the full $200 million available this year.

Of the funding announced today, CMHC will allocate more than $853,000 to retrofit 41 social housing units and INAC will allocate $2.9 million over a two-year period towards various housing initiatives, such as renovations and conversion to market based housing, for the Piikani Nation.

Additionally, other federal funding sources are being leveraged to assist the Piikani Nation in skills development for the overall maintenance of its housing program.

Through the CEAP, some $50 million in federal investments will be made available to First Nations in Alberta to address immediate housing needs and assist the transition to market-based housing.

“The Government is actively working with First Nations towards increasing the supply of safe and affordable housing,” said the Honorable Chuck Strahl. “Not only will these investments in housing directly affect the recipients, they will also serve as an economic stimulus for many First Nations and rural areas by generating employment, developing skilled trades and fostering small businesses.”

“CEAP has been instrumental in assisting the Piikani Nation establish long-term and sustainable working relationships with professional contractors and suppliers, train and employ up to 35 Piikani Nation members, kick-start our market housing strategy and most importantly improve our living conditions,” said Piikani Nation Chief Reg Crowshoe.

http://businessexchangeblog.blogspot.com/2009/07/leased-heating-equipment-chattel-or.html

reviewed by Alexander Moishe, CEO of  canadian funding corp

http://www.announced.us/finance/mortgage-rates-canada-provide/

reviewed by Moishe Alexander, CFC  canadian funding corp CEO

According to statistics released by The Canadian Real Estate Association (CREA), actual (not seasonally adjusted) home sales, via the Multiple Listing Service® (MLS®) of Canadian real estate boards, totaled 147,351 units in the second quarter of 2009 – the fourth strongest quarterly sales figure ever. Up 1.4 per cent from the second quarter of 2008, this marks the first year-over-year increase in quarterly activity since the fourth quarter of 2007.

On a seasonally adjusted basis, national MLS® home sales numbered 114,173 units in the second quarter, jumping up a record 31.5 per cent from the first quarter of 2009.

“Potential buyers who moved to the sidelines late last year when economic uncertainty peaked are returning to the housing market now that the worst of the recession may be behind us,” said Dale Ripplinger, President of The Canadian Real Estate Association.

Seasonally adjusted resale activity in the second quarter was up from the previous quarter in about 85 per cent of local markets. Quarterly activity increases in Toronto (45 per cent), Vancouver (77 per cent), Montreal (33 per cent), Calgary (66 per cent) and Edmonton (39 per cent) contributed most to the national increase in activity.

Strong upward momentum for monthly sales activity was sustained throughout the second quarter. June marked the fifth consecutive month in which activity was up from month-ago levels. Some 41,304 homes traded hands via the MLS® of real estate boards in Canada on a seasonally adjusted basis in June 2009. This is up 8.7 per cent from May and represents the first time since January 2008 that monthly activity topped 40,000 units.

Actual (not seasonally adjusted) MLS® home sales climbed 17.9 per cent year-over-year to 54,616 units in June 2009. This is on par with the record for the month of June set in 2007 and is the fourth highest level for activity in any month on record.

The national MLS® residential average sale price reached the highest quarterly level ever in the second quarter of 2009. At $318,696, the average sale price was up half a percent from the previous record set in the second quarter of 2008.

The national average home price also scaled new heights on a monthly basis, climbing 3.6 per cent year-overyear to $326,613 in June 2009. However, only 13 local markets posted new average price records in June, less than a handful of which are among the most active or expensive. The strong rebound in sales activity, not price, in Canada’s most expensive markets is skewing average prices upward nationally and in some provinces, just as a sharp decline in activity in these markets skewed the average lower in late 2008.

MLS® home sales rebound in the second quarter. The price trend is similar but less dramatic for the weighted national MLS® average price, which compensates for changes in provincial sales activity by taking into account provincial proportions of privately owned housing stock. The weighted national MLS® average sale price was up 1.7 per cent year-over-year in June 2009 – less than half of the percentage increase in the unweighted national average price.

The supply of homes coming onto the MLS® market continued retreating in second quarter. Seasonally adjusted MLS® residential new listings were down 16.9 per cent from the previous quarter to 197,049 units, the lowest level since the fourth quarter of 2005.

Nationally, the number of months of inventory was 4.2 months in June 2009. This is the lowest level since August 2007, and well down from the recessionary peak of 12.8 months in January 2009. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The residential dollar volume for MLS® sales jumped 40.6 per cent on a seasonally adjusted quarter-over-quarter basis in the second quarter of 2009, to reach $34.8 billion.

“Low interest rates have improved the affordability of homeownership, as have price adjustments in housing markets that previously experienced rapid price increases,” said CREA Chief Economist Gregory Klump. “Housing markets where negotiations recently favoured the buyer have become more balanced and the stage is being set for modest price appreciation as inventories are drawn down by sales.”

“Sales momentum remains strong going into the second half of 2009,” said CREA President Dale Ripplinger. “Chances are good that the number of transactions in the second half of 2009 will surpass levels in the first half of the year.”

http://www.myseatosky.com/blog/?p=231

reviewed by Moishe Alexande, CFC canadian funding corp CEO

A rise in mortgage rates and high unemployment are just two of the factors that are likely to hold back prices and sales.

Property experts say that although first-time buyers and Bank of Canada rate cuts have helped restore stability to a market that slumped from late 2008 to early this year caution is still needed.

‘We should be less fearful than we were six months ago, but I don’t think we should be exuberant yet. The resale markets in Canada are very strong. May figures were pretty good, and June numbers will be even better,’ said Will Dunning, an economic consultant who specializes in the housing market.

‘But by July and into the fall there will be an offset of considerably slower activity. I don’t think it’s likely to go off a cliff. It’ll depend on what happens in employment and the broader economy, and how that affects confidence,’ he added.

Indeed the latest data from the Canadian Real Estate Association suggest that Canada’s residential property market, which has withstood the financial crisis much better than its hard-hit US neighbour, has been showing signs of improvement for several months.

May resale home prices rose 0.4% to $319,757, topping the previous record set a year earlier and the first year-over-year increase since May last year. Also sales activity climbed for the fourth month in a row.

The association, which represents more than 97,000 real estate brokers and agents, now expects sales activity to continue improving.

Philip Soper, chief executive officer of Brookfield Real Estate Services, an arm of Canadian property giant Brookfield Properties, expects a period of stabilisation over the next year.

Unemployment is one of the biggest dangers for the recovery. The jobless rate increased to an 11 year high in May.

http://www.propertywire.com/news/north-america/canadian-property-market-200907073299.html

reviewed by Moishe Alexander, Canadian funding corp CEO

WINDSOR, ON, July 8 /CNW/ – Ontario’s construction industry could weather
the economic downturn better than many other sectors as proposed government
infrastructure spending provides a soft landing according to figures released
today in the Construction Sector Council’s (CSC) fifth annual edition of
“Construction Looking Forward,” a detailed industry outlook scenario of labour
market trends from 2009 to 2017 in Ontario.
While the recession has weakened housing and industrial activity, other
construction sectors are expected to see employment gains in 2009 and 2010
associated with increased government infrastructure (highway, bridge and other
engineering) spending that potentially offsets employment losses.
Over the remainder of the outlook the overall economy recovers and the
expected increase in construction activity and the need to replace retiring
baby boomers translates into the demand for 135,000 new jobs over the next
decade.
“Due to the size and complexity of the Ontario market, there are varying
degrees of positive construction employment across the province, with the GTA
expecting to realize important gains in the short term,” said George
Gritziotis, Executive Director of the Construction Sector Council. “Despite
the downturn, employment numbers should remain steady as several proposed
major infrastructure projects across Ontario come on-line.”
The CSC report breaks down employment needs across five Ontario regions:
Northern, Eastern, Western, Central, and the Greater Toronto Area and each
have specific circumstances. The GTA will lead the province in construction
employment over the next few years as growth remains steady. Other regions of
the province however will feel the effects of the recession more strongly over
the next three years.
“Transportation and other infrastructure related projects will keep our
industry moving in the next few years,” said Rob Bradford, Executive Director
of the Ontario Road Builders Association. “Meeting industry’s demand will
require a workforce that is flexible as opportunities occur across the
province and workers will need to move to where the jobs are.”
Overall construction employment in the CSC trades is expected to increase
slightly from 2009 – 2011. From 2012 to 2017, growth in construction
employment will average 2.7% annually. These additions to the workforce will
come as the overall growth in the Ontario labour force slows to 1% or less.
Construction employers will be competing for a steadily growing share of the
provincial workforce.
“We need to continue to plan for our existing and future workforce
needs,” said Pat Dillon, Business Manager of the Ontario Building and
Construction Trades Council. “Governments need to step up apprenticeship and
recruitment programs, and put in place measures that include tax relief to
facilitate the mobility of our current displaced workforce to ensure that we
have the skilled labour ready to take on new projects and replace retiring
workers.”
“For Ontario’s construction industry, it remains imperative to promote
construction careers, attract youth and enhance training programs,” said Mark
Arnone, Director, Projects and Modifications, Ontario Power Generation
(Nuclear). “Future major industrial and engineering projects will need a
skilled work force to sustain growth and build Ontario’s future.”

The Construction Sector Council is a national organization committed to
developing a highly skilled workforce – one that will support the future needs
of the construction industry in Canada. Created in April of 2001, and financed
by both government and industry, the CSC is a partnership between labour and
business.
The CSC’s “Construction Looking Forward” national and regional forecasts
provide colleges, labour and industry with accurate information on labour
supply and demand to support the future needs of the construction industry in
Canada.
For a copy of the Ontario labour market forecast visit our website:
www.csc-ca.org.

http://www.dailycommercialnews.com/nw/12938/cb

viewed by Moishe Alexander, Canadian Funding corp CEO

“This is a great honour for Loretta, as it is something limited to only a handful of our International EXIT associates,” said Joyce Paron, Canadian President of EXIT Realty. “We’re all very proud of her.”