Business
Growth Plan Fuelling GTA Housing Prices, Developers Told
A leading Canadian economist is adding his voice to those who argue that the Ontario government’s growth plan is largely to blame for pricing homes beyond the reach of many buyers.
Land supply restrictions resulting from the plan called, Places to Grow, is “the number one reason GTA house prices are rising,” said Benjamin Tal, deputy chief economist for CIBC World Markets.
It is restricting the supply of land, “making things very difficult when it comes to housing,” he told a meeting of the Building Industry and Land Development Association (BILD) in Vaughan.
“Affordability and Places to Grow cannot co-exist,” Tal said on Thursday.
If the government increases its intensification targets —something that the province is considering in its update to the growth plan expected next year — it is going to present major difficulties to municipalities.
But the likelihood of Queen’s Park changing the growth plan “is zero,” Tal added.
He also cited development charges and slow municipal approvals for contributing to the affordability problem in the Toronto region housing market, particularly in the development of high-demand, low-rise homes.
His comments come as the province faces increased pressure from competing interests in its growth plan review.
Earlier this month Neptis Foundation, an independent research agency, published a report disputing the notion that land constraints were behind high Toronto region housing prices. There is at least enough land — much of it designated for low-rise homes — to last another 15 years, said Neptis.
But, according to BILD, it’s the lack of serviced land with the necessary water and wastewater infrastructure that is limiting supply.
Municipalities are also complaining that proposed increases to the provincial density targets, from 50 residents and jobs per hectare to 80 residents and jobs per hectare — are too high.
“Some municipalities are clear they just cannot support them,” said former Mississauga Mayor Hazel McCallion in a press release following a regional land use planning summit last month.
Despite the ongoing concerns about high housing prices, Toronto area buyers are making bigger downpayments than those in some other major markets, said Fortress Developments senior vice-president Ben Myers at Thursday’s BILD event.
In the Toronto region, buyers put down about 10 per cent on average compared to 9 per cent and 8 per cent, respectively, in Vancouver and Calgary.
But with no sign of relief for the shortage of low-rise housing in the region, buyers are jumping the Greenbelt, the area of protected farmland surrounding Toronto, and buying up homes in places such as Dufferin and Simcoe counties, Peterborough and Kawartha Lakes, said Myers.
“We’re not reducing (sprawl). We’re moving it somewhere else,” he said.
About half of realtors surveyed by Fortress this year expect to see more families living in downtown condos in the next five to 10 years, said Myers.
Toronto area home prices were up 13.6 per cent year-over-year in the third quarter, according to a Royal LePage report on Thursday. They far exceed income growth in the region.
Toronto region housing
12,000
Number of low-rise homes built in the Toronto area last year, compared to 29,000 in 2004
52.9%
First-time Toronto area buyers (Canadian residents) who put down 10% or less on their home purchase
45.5%
Foreign and recent immigrant buyers who made a downpayment of 30% or more on a home, compared to 14.3% of “domestic investors” who put down that much
13%
Toronto area home price inflation in the second quarter of 2016, compared to 36% in Vancouver and -8% in Hong Kong
87%
Condos sold in all stages of development in the Toronto region — the highest market absorption rate in history
Source Ben Myers, Fortress Developments
Beauty enthusiasts rejoice! Beauty Week at Hudson’s Bay is back in Toronto for another year. It’s time to stock up on all of your fall essentials and, maybe discover some new ones.
From Friday, August 18 to Sunday, August 27, you can expect a truly elevated beauty experience in-store with incredible special offers, limited-time gifts, and exciting activations.
If you’re a diehard beauty lover, you’ll already know that Hudson’s Bay is the place to shop thanks to its extensive range of over 195 skin and makeup brands from both luxury labels and masstige brands — including Tata Harper, Estée Lauder, YSL, Nars Cosmetics, Bobbi Brown, and so much more.
Throughout The Bay’s Beauty Week, visitors can take in some at-counter activations and interactive expert-led tutorials, where there will be chances to get makeup touch-ups from top-tier brands, try a spritz of the most alluring fragrances, and sample tons of new products.
This year’s Beauty Week highlight is the ‘Best in Beauty’ tote, a meticulously-curated selection of 30 deluxe samples from an array of top-tier brands like Dr. Barbara Sturm and Shiseido spanning skincare, fragrance, and makeup — all in a super sleek bag.
The tote, which is valued at over $300, is retailing for just $39 and is a fantastic way to explore new products (without breaking the bank). However, there is a limited quantity, so if you want to get your hands on one, you’ll need to be fast.
Wondering exactly what Beauty Week’s free gifts with purchases entail? If you spend over $95 at Lancôme, you will receive a six-piece set valued at $130. Or, you can get an Estée Lauder gift valued at $170 with purchases over $80. (And that’s just to name a few.)
If you’re a Hudson’s Bay Rewards member, you’ll also get $20 in Hudson’s Bay rewards when you spend over $100 on beauty.
The Canadian Armed Forces (CAF) have several non-combat jobs, some of which do not require a college degree or past work experience.
Life in the forces has several benefits, such as paid education plans (college, university and graduate-level programs), 20 paid vacation days, health and dental coverage for you and your family, maternity and paternal leave, and pension plans. You can learn more about the benefits in detail here.
And to make it easier to gauge if you qualify, the listings also include related civilian jobs to see if it’s your ideal role.
Financial services administrator
Related civilian jobs: Financial records entry clerk, financial manager, accounting technician, bookkeeper, budget officer, cashier clerk, business planner technician, and verification manager.
Description: You’ll help budget resources for all military activities besides providing financial assistance.
Education: You need to have completed Grade 10.
Duties: As a financial services administrator, you’ll be responsible for bookkeeping and managing budgets. You’ll also provide support in accounts payable and accounts receivable.
Work environment: Those in this role work at CAF bases, on ships or overseas. You might also be expected to help special operation units, recruiting offices, schools, and medical organizations.
Postal clerk
Related civilian jobs: Mail clerk, mail sorter.
Description: You’ll provide postal services to members and their families at bases and establishments.
Education: Grade 10. No previous work experience or related career skills are required.
Duties: As the postal clerk, you’ll handle mail duties.
Work environment: Besides a postal office, you may work on a ship or a mobile postal van. You might be expected to serve with Royal Canadian Navy, the Army, and the Royal Canadian Air Force in Canada and abroad.
Dental technician
Related civilian jobs: Dental assistant, dental hygienist.
Description: You’ll be helping dental officers provide dental services to CAF members, their families, and dependents.
Education: Level II dental assisting diploma from an accredited college or a National Dental Assisting Examining Board (NDAEB) certificate.
Duties: Those in this role will be responsible for various responsibilities, including disinfection and sterilization of dental equipment, applying rubber dams, placing cavity liners, and controlling bleeding. In addition, you’ll assist in laboratory procedures like creating casts, custom trays, and mouthguards.
Work environment: This role will require you to work in a military dental clinic, a Mobile Dental Clinic, an Air Transportable Dental System, or onboard a ship. You might be expected to work on a base in Canada or other operations in other parts of the world.
Human resources administrator
Related civilian jobs: Records administrator, data entry supervisor, receptionist, office manager, executive assistant, payroll clerk, and information management technician.
Description: Provide administrative and general human resources support.
Education: Grade 10. No previous work experience or related career skills are required.
Duties: In addition to human resources administration and services, you’ll be handling pay and allowances, managing automated pay systems, and maintaining personnel records.
Work environment: HR administrators work at all CAF bases in Canada. They also work on ships and overseas to support the Canadian Army, Royal Canadian Navy, or Royal Canadian Air Force operations.
Medical assistant
Related civilian jobs: Emergency medical responder, ambulance and first aid attendant, registered nursing assistant, licensed practical nurse, and hospital orderly.
Description: Successful candidates will help treat the sick and injured in CAF units. You’ll be assisting and supporting nursing and medical officers.
Education: Minimum of Grade 11 biology, Grade 10 physics or chemistry, and Grade 10 math.
Duties: You’ll provide initial care and essential life support treatments in trauma cases. You’ll help with health assessments (hearing and vision tests, perform basic lab procedures, etc.) and initiate and manage medical records and reports. You’ll also be expected to provide support and first aid during training exercises.
Work environment: Medical assistants may serve with the Royal Canadian Navy, the Royal Canadian Air Force or the Canadian Army as part of the Canadian Forces Health Services Group. Those in this role are exposed to the same risks as the forces they support.
Porter Airlines is once again stirring the pot among Canadian airline rivals, now going after Air Canada’s Aeroplan members by offering to match their loyalty status to an equivalent of their own.
The beloved airline, which recently ranked as having the best cabin service in North America, challenged the competition for the second time this year, after previously deploying a similar tactic against WestJet in the spring.
Earlier in April, Porter presented customers with a limited-time offer to match the loyalty status of WestJet’s patrons with VIPorter levels.
Now, they’re offering Aeroplan members to seamlessly transition to an equivalent VIPorter Avid Traveller status based on their existing membership tier.
Members can then take advantage of an array of travel perks that come with flying Porter, including seat selection, baggage, and flight changes.
For those currently holding an Aeroplan membership, there are two ways to acquire the Avid Traveller status for the rest of 2023:
Status-Based Match:
- Aeroplan 25K members = VIPorter Venture
- Aeroplan 35K members = VIPorter Ascent
- Aeroplan 50K, 75K, and Super Elite = VIPorter First
Flight Segments-Based Match:
- 5 flight segments = VIPorter Passport
- 8 segments = VIPorter Venture
- 17 segments = VIPorter Ascent
- 28 or more segments = VIPorter First
Members will have to first submit their applications on Porter’s website. Registration will remain open until September 6, 2023.
In order to maintain their membership level through 2024, customers will have until the end of 2023 to reach the following reduced qualifying spend (QS) targets:
- Passport = $500 in QS
- Venture = $750 in QS
- Ascent = $1500 in QS
- First = $2500 in QS
Over the past year, Porter has launched an aggressive expansion strategy, including everything from introducing longer flights on newly-purchased jet planes flying out of Toronto Pearson, free WiFi, and a new all-inclusive economy experience.
With Canadians losing both Swoop and Sunwing as WestJet incorporates both into their mainline business, Porter’s direct competition is welcome to keep prices competitive.
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