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    <description>Realtor with RE/MAX in Winnipeg, Manitoba, Canada</description>

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      <description>&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Shirley Przybyl is convinced that the strength of the local real estate market is that &amp;ldquo;Winnipeg is the place to be.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;It&amp;rsquo;s an exciting time in the city,&amp;rdquo; the incoming president of WinnipegREALTORS&amp;reg; said in an interview. &amp;ldquo;There&amp;rsquo;s so many great things happening that are bringing people back to the city.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;To make her point, the broker manager of Century 21 Bachman &amp;amp; Associates mentioned the improvements to the Assiniboine Zoo, the new James Richardson International Airport, the new Investors Group Stadium, the Canadian Museum for Human Rights, and, of course, the return of the Jets.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Big things are coming to the city,&amp;rdquo; she added. &amp;ldquo;People are recognizing it&amp;rsquo;s a happening city. People are realizing that Winnipeg isn&amp;rsquo;t such a bad place to call home.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Przybyl, who has been active in real estate for 19 years &amp;mdash; 10 as a broker &amp;mdash; said the 2012 resale market began slowly, &amp;ldquo;but January is the month when it&amp;rsquo;s always a little slow at the beginning, and then suddenly people get that urge to sell.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Przybyl confidently predicts that by the end of this year, WinnipegREALTORS&amp;reg; members will top $3 billion in sales for the second year in a row. Last year was the first time that the lofty plateau had been reached in the 108-year history of the organization.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;She is also confident that MLS&amp;reg; sales will top 13,000 units sold by the end of 2012. Last year, there were 13,063 units sold, which was only 14 units shy of the record total for 2007.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Przybyl said increased immigration had a positive impact on the housing market in 2011 and will also have an effect in 2012.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;The last home sold in 2011 was bought by someone moving to Winnipeg,&amp;rdquo; she added to stress her point.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Out of the total increase of 16,121 people in Manitoba in the last one-year period, nearly 15,700 were new immigrants, according to April 2011 figures released by Statistics Canada. The number of new immigrants coming to Manitoba was the highest ever since 1946.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;It&amp;rsquo;s spurring on a lot of new developments in Winnipeg,&amp;rdquo; she said.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Winnipeg isn&amp;rsquo;t the only area benefiting &amp;mdash; newcomers are also moving to rural centres, such as Steinbach.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;People are looking to the countryside for alternatives,&amp;rdquo; Przybyl added. &amp;ldquo;Sometimes the housing is a little cheaper, so it might be worth that drive.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;According to WinnipegREALTORS&amp;reg; statistics for 2011, there were over 500 MLS&amp;reg; residential-detached sales in Steinbach, and rural MLS&amp;reg; areas grabbed 24 per cent of all MLS&amp;reg; sales in the category. In comparison, the southwest quadrant of Winnipeg was second for residential-detached sales at 19 per cent.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Interest rates will be helping home buyers in 2012, said Przybyl, who welcomes the news from the Bank of Canada that it wouldn&amp;rsquo;t be upping its rate &amp;nbsp;for the foreseeable future.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Benjamin Tal, the managing director and deputy chief economist for CIBC World Markets, told the WREN that Winnipeg&amp;rsquo;s real estate market has been primarily driven by low interest rates which are expected to remain in place for at least two years.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;It should also be noted that Winnipeg remains a very affordable housing market,&amp;rdquo; said Przybyl.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Relative to family income, home prices have remained highly affordable in Winnipeg, according to a January 30 report prepared by Bank of Montreal economists Dr. Sherry Cooper and Sal Gautieri for BMO Capital Markets.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Although houses have appreciated in value by 171 per cent since 2001, the average price-to-family income ratio is still the lowest among major Canadian centres at 3.2. On the other hand, the ratio is 4.9 for Canada, 10 for Vancouver and 6.7 for Toronto.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;The authors of the report said the cost of housing is not out of reach for the typical buyer.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;They said prices are still rising strongly in Winnipeg, but affordability has not been adversely affected.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;The overall average price for a residential-detached home rose six per cent in 2011 to $256,748, according to WinnipegREALTORS&amp;reg;.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;WinnipegREALTORS&amp;reg; is predicting a more modest single-digit percentage increase in the average house price for 2012. A recent RE/MAX report is forecasting an increase of just three per cent this year.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Since it (the average price) will only rise slightly, it&amp;rsquo;s great news for buyers,&amp;rdquo; said Przybyl.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;You also have more condo conversion happening and more condo developments, which offers more choices for home buyers,&amp;rdquo; she added.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;In 2011, condominium sales reached their highest level ever with close to 1,600 sales, which was a 10 per cent increase over 2010. Condo sales accounted for 12 per cent of all MLS&amp;reg; activity last year, according to WinnipegREALTORS&amp;reg;.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;This year sales will remain strong because of the greater choices available to first-time and move-up buyers,&amp;rdquo; Przybyl said.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;And thankfully, flooding won&amp;rsquo;t be a factor this year, as the initial forecast is for a significantly drier spring.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Flooding in 2011 wreaked havoc by destroying or severely damaging homes, cottages and properties surrounding Lake Manitoba.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;I look forward to another solid year of real estate activity,&amp;rdquo; she said, &amp;ldquo;with our REALTORS&amp;reg; continuing to set the bar high in terms of meeting the needs of discerning buyers and sellers. I know how important our association&amp;rsquo;s role is in continually improving its efforts to provide our members with the tools and support they require to deliver great value to their customers and clients.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=64058</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>New Winnipeg Realtor's president says it's an exciting time to be living in Winnipeg</title>

    </item>

    <item>

      <description>&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Winnipeg&amp;rsquo;s housing market is expected to remain strong throughout 2012, according to a new survey.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;In its recent market survey and forecast, Royal LePage Real Estate Services is predicting an average house price increase in Winnipeg of 4.2 per cent in 2012 over last year. The rate of unit sales is also predicted to increase modestly by 2.9 per cent.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Winnipeg's housing market is proving resilient despite the current global economic and financial uncertainty,&amp;rdquo; said John Froese, broker of Royal LePage Prime Real Estate. &amp;ldquo;Consumer confidence is strong and housing demand in the area is being fueled by the city&amp;rsquo;s growing immigration levels.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;The survey forecast showed healthy year-over-year price increases for all housing types surveyed in Winnipeg.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Standard condominiums witnessed the largest year-over-year price gains climbing five per cent to $177,286. Prices for standard two-storey homes saw an increase of 3.7 per cent year-over-year to $305,875, while detached bungalows rose 3.8 per cent to $276,750.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;WinnipegREALTORS&amp;reg; outgoing president Ralph Fyfe called the 2011 results &amp;ldquo;impressive&amp;rdquo; with marketplace momentum building as the year progressed.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Winnipeg has a number of new listings and start-up projects hitting the market that should help balance the resale market,&amp;rdquo; said Froese.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;WinnipegREALTORS&amp;reg; reported that total listings entered by the end of 2011 went over 18,000 units for the first time in many years. Fyfe called the increase an encouraging development going into 2012.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Nationally, despite calls in some quarters for Canadian house prices to soften in 2011, the market proved resilient as demand created by low interest rates and a relatively stable national economy created upward pricing pressure for all housing types surveyed.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;In addition, recent high profile reports forecasting significant house price declines in 2012 are not supportable. In the fourth quarter, standard two-storey homes rose 4.2 per cent year-over-year to $375,427, while detached bungalows increased 6.1 per cent to $344,392, according to the Royal LePage survey. Average prices for standard condominiums increased 3.6 per cent to $234,680.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;In the recovery period following the 2008-2009 recession, I found myself repeatedly speaking of &amp;lsquo;irrational exuberance&amp;rsquo; in the Canadian housing market,&amp;rdquo; said Phil Soper, president and chief executive of Royal LePage Real Estate Services. &amp;ldquo;Expectations were too high and the pace of expansion unsustainable. With this report, I find myself in exactly the opposite position. Widespread calls for a major real estate correction in 2012 simply can&amp;rsquo;t be justified.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;The industry has significant momentum entering the year, and is buoyed by the stimulative effect of very low interest rates,&amp;rdquo; he added. &amp;ldquo;We expect the market to continue to expand, albeit at a slower pace.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Royal LePage expects average price growth to continue through 2012 and predicts national average prices to increase by 2.8 per cent by the end of the year.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;The momentum in sales activity provides clear evidence that low interest rates continue to draw home buyers to the housing market,&amp;rdquo; said Gary Morse, the president of the Canadian Real Estate Association. &amp;ldquo;While buyers have become increasingly cautious, the hand off for sales activity going into the new year suggests that Canada&amp;rsquo;s housing market will continue to benefit from low interest rates in 2012, and continue making a significant contribution to Canadian economic activity.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Even so, prospects among housing markets and neighbourhoods differ, so buyers and sellers should talk to a local REALTOR&amp;reg; to understand how trends are shaping up where they live,&amp;rdquo; he added.&lt;/span&gt;&lt;/div&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=64025</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>Winnipeg housing market forecast to remain healthy in 2012</title>

    </item>

    <item>

      <description>&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Always somewhere in the middle among Canada&amp;rsquo;s 25 major centres is how Benjamin Tal, the managing director and deputy chief economist for CIBC World Markets, describes Winnipeg&amp;rsquo;s economy and housing market.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Winnipeg will never be last and it will never be first,&amp;rdquo; said Tal, who was the keynote speaker at the 2012 WinnipegREALTORS&amp;reg; forecast breakfast at Canada Inns Polo Park last Wednesday.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;According to a recent CIBC index on economic performance, which aggregates nine economic variables into one measure, Winnipeg ranked 12th among Canada&amp;rsquo;s 25 largest cities, coming in 11th in change in percentage of MLS&amp;reg; average price and 18th in percentage of change in MLS&amp;reg; unit sales.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;But being in the middle is good, he added, since Winnipeg will also never be subjected to the sudden downswings often experienced in other Canadian cities.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Tal said the main reason the city is in the middle of the pack is that its economic structure is versatile, but growth is invariably slow and steady, unlike in other centres that are reliant upon a single resource, such as Calgary, where the oil industry is dominant and exposes the Alberta city to cyclical booms and busts.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;While the housing markets in other major Canadian cities are &amp;ldquo;softening,&amp;rdquo; Winnipeg is so far bucking the trend, recording steady price increases, according to the CIBC economist.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;WinnipegREALTORS&amp;reg; reported a six per cent average price increase&amp;nbsp;over 2010 by the end of 2011 to $256,748.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Tal said Winnipeg&amp;rsquo;s real estate market has been driven primarily by low interest rates which are expected to remain in place for at least two years.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Credit is important in Winnipeg,&amp;rdquo; Tal said.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Winnipeg is very sensitive to interest rate increases,&amp;rdquo; he added, so what happens down the road to interest rates will have an effect on the city&amp;rsquo;s housing market.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;But Tal also said Bank of Canada Governor Mark Carney has no intention of raising interest rates for some time.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;When the central bank does raise interest rates (perhaps in two year&amp;rsquo;s time), they won&amp;rsquo;t be crippling, according to Tal.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Carney won&amp;rsquo;t repeat past mistakes, such as in 1991 when high interest rates killed the housing market.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;In February 1991, Canada&amp;rsquo;s average interest rate reached an historical high of 16 per cent. The Bank of Canada then underwent a significant change, implementing inflation-targeting to combat the double-digit interest rates that plagued the country during the 1980s. Since then, it has maintained the rate of inflation between one and three per cent.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Tal is also confident a U.S.-style housing bubble is &amp;ldquo;not going to happen&amp;rdquo; in Canada, because Carney won&amp;rsquo;t let it happen.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Besides, said the expert on the&amp;nbsp;Canadian, U.S. and overseas housing markets, the conditions leading to the American housing collapse are not present in Canada.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;He said the ratio of risky mortgage debt at the time of the U.S. housing bubble burst was at 22 per cent, while it&amp;rsquo;s now just 4.5 per cent in Canada.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;I don&amp;rsquo;t see a cliff or a cloud (over the horizon),&amp;rdquo; he said.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Carney said some parts of the nation&amp;rsquo;s housing market, especially Vancouver and Toronto, may be &amp;ldquo;overvalued,&amp;rdquo; so the Bank of Canada will remain vigilant.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;In addition, Carney has expressed concern over the level of household debt. As a portion of annual disposable (after-tax) income, debt reached 152.98 per cent in 2011&amp;rsquo;s third quarter, up from 150.57 in the second quarter of the year, according to Statistics Canada. The central bank governor and federal Finance Minister Jim Flaherty have been urging Canadians to get a handle on their household debts.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Tal said the bulk of household debt in Canada is mortgages &amp;mdash; 70 per cent &amp;mdash; but they are paid over a 25-year period, not one year, he has continually told the media.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;What matters is the amount of annual income required to service a household debt. While 40 per cent is probably too high, a more manageable figure would be 30 per cent of annual income.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;People should also be aware of how much debt they can handle in the event of an interest rate increase, which will eventually occur, he added.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Despite the concerns expressed, when the Bank of Canada made its recent announcement not to raise its rate, it reported &amp;ldquo;very favourable financing conditions are expected to buttress consumer spending and housing activity.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;A number of financial institutions recently dropped their five-year lending rate to a record low of 2.99 per cent, which is down considerably from the advertised five-year rate of 5.29 per cent when the central bank met last year on December 6.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;The bottom line is that the bank (of Canada) rate is not going to go up anytime soon, and we may see rates lowered should downside risks (form European debt issues) materialize,&amp;rdquo; said Canadian Real Estate Association chief economist Gregory Klump.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Overall, said Tal, the Canadian real estate market, including Winnipeg&amp;rsquo;s, will &amp;ldquo;not be as exciting&amp;rdquo; over the next couple of years, as it had been in 2010 and 2011.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;While we do not see housing prices crashing, we do believe that house prices in Canada will level off in the near future and might start trending downward modestly,&amp;rdquo; Tal said in a report for the CIBC Economics publication, In Focus. &amp;ldquo;Further out, the most likely scenario is that the eventual increase in interest rates will lead to&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;a decline in prices (probably in the magnitude of 10 to 15 per cent).&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;But given the current balanced affordability position, the more significant adjustment will be in housing market fundamentals that are likely to catch up with prices in the coming years &amp;mdash; paving the way for a healthier housing market later in the decade,&amp;rdquo; Tal added.&lt;/span&gt;&lt;/div&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=63997</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>CIBC economist says local real estate market bucking national softening trend</title>

    </item>

    <item>

      <description>&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Single-detached home construction is proceeding at a pace that hasn&amp;rsquo;t been equalled in two decades, according to two recent reports from Canada Mortgage and Housing Corporation.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;The 1,656 homes started in the Winnipeg Census Metropolitan Area during the first 10 months of the year &amp;ldquo;represents the Strongest October year-to-date total for single-detached starts since 1990,&amp;rdquo; said Dianne Himbeault, CMHC&amp;rsquo;s senior market analyst based in Winnipeg.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;According to CMHC, the good news for local home builders is expected to continue into next year.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;By the end of 2011, builders are expected to have started construction on 3,250 (single-detached and multiple-family) homes,&amp;rdquo; Himbeault added, &amp;ldquo;on par with the 3,244 started in 2010.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Many factors that have supported demand for housing this past year will persist into 2012. Builders will therefore maintain production levels next year, starting 3,275 units for a gain of just over one per cent.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Builders of single-detached homes are also expected to maintain 2010&amp;rsquo;s pace and end 2011 with 1,950 units. This represents a 1.5 per cent increase over last year&amp;rsquo;s final tally.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Looking forward, demand for new homes will remain strong as existing homeowners continue to take advantage of equity gains and make their way to the move-up market,&amp;rdquo; said Himbeault.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;The 1,975 new homes forecast for the end of the year would represent the best performance for single-detached starts since 1989.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;In October alone, there were 178 new single-detached starts, which was a 19 per cent increase over the same month in 2010.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Meanwhile, multiple-family starts, which consists of semi-detached units, rows and apartments, are on track to match 2010&amp;rsquo;s performance and post 1,300 units in 2011, according to CMHC.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;High levels of in-migration are contributing to demand, particularly within the rental market, where the vacancy rate was just 0.7 per cent as of April this year.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Due to the demand, CMHC is predicting multiple-family construction to hold steady in 2012 with another 1,300 units built.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;In October, the multiple-family sector far exceeded last year&amp;rsquo;s meagre four starts for the same month, with 301 units breaking ground.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;This upturn in activity brought the number of multiple-family units started year-to-date to 1,095, three per cent fewer than the 1,129 started a year earlier.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Low vacancy rates in the rental market continue to spur new construction,&amp;rdquo; said Himbeault, &amp;ldquo;as more than two-thirds of the multiple-family starts were for this market.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; border-image: initial; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Year-to-date, rental starts are now running one per cent ahead of last year&amp;rsquo;s impressive numbers,&amp;rdquo; she added.&lt;/span&gt;&lt;/div&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=63783</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>Steady pace of home construction expected to continue in 2012</title>

    </item>

    <item>

      <description>&lt;div class="articleBody" style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 0px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; border-image: initial; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;

&lt;p style="padding-bottom: 0px; line-height: 1.6em; border-right-width: 0px; margin: 0px 0px 20px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;Manitoba's housing affordability experienced some of the most noticeable improvements in the country during the third quarter of 2011, according to the latest Housing Trends and Affordability Report by RBC Economics.&amp;nbsp;&lt;/span&gt;&lt;/p&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;Homeownership costs in the province fell, as mortgage rates eased and home prices reversed some of the record-breaking gains made in the second quarter.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Manitoba's affordability levels continue to stand near their historic norms &amp;mdash; a telltale sign that homeownership in the province is reasonably achievable,&amp;rdquo; said Robert Hogue, senior economist, RBC. &amp;ldquo;Home buyers took advantage of this more affordable market in the third quarter, pushing home resales higher by 5.3 per cent.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;RBC's housing affordability measures for Manitoba, which capture the provinces proportion of pre-tax household income needed to service the costs of owning a home at the going market value, decreased across all housing types in the third quarter of 2011, with a decrease representing a gain in affordability.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;The measure for the benchmark detached bungalow in the province fell to 35.6 per cent, a decrease of 1.2 percentage points from the previous quarter); the standard condominium to 21.4, down 0.5 percentage points; and the standard two-storey home to 37.9 per cent, a decrease of 1.5 percentage points.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;It&amp;rsquo;s a great time to buy real estate in Winnipeg and Manitoba,&amp;rdquo; said WinnipegREALTORS&amp;reg; president Ralph Fyfe.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;We&amp;rsquo;ve been blessed,&amp;rdquo; he said. &amp;ldquo;Manitoba is a relative safe haven of stability with so many positive things happening. There are new construction projects and new developments, such as the return of the Jets, which make Winnipeg and Manitoba a very positive and healthy economic environment.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;And as the RBC report indicates, real estate is still a relative bargain,&amp;rdquo; Fyfe added, &amp;ldquo;especially with the low interest rates and a sound local economy, which bodes well for a continuation of a strong real estate market into 2012.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;When purchasing a home of any type, Manitobans needed significantly less annual income in the third quarter than their neighbours in Saskatchewan and Ontario.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;The benchmark detached bungalow in Manitoba cost $263,700 in the third quarter, which required an annual income of $62,200 to purchase. In Ontario, the annual salary required to purchase the same type of bungalow was $82,200, while in Saskatchewan, the yearly salary required was $72,100.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;For a standard condominium, a yearly salary of $37,500 was needed in the third quarter in Manitoba, while it took $48,800 in Saskatchewan and $57,500 in Ontario.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;When a standard two-storey was purchased in the third &amp;nbsp;quarter, Manitobans required an annual salary of $66,300, while Ontarians needed $94,200, and $77,800 was required in Saskatchewan.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;According to the report, affordability levels in Manitoba are at, or slightly below, long-run averages, which indicate little in the way of overdue pressure being applied to the province&amp;rsquo;s home buyers.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;RBC's housing affordability measure for the benchmark detached bungalow in Canada&amp;rsquo;s largest cities is as follows: Vancouver 90.6 per cent, Toronto 52.1 per cent, Montreal 40.9 per cent, Ottawa 40.8 per cent, Calgary 37.6 per cent and Edmonton 33.2 per cent.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;An affordability reading of 50 per cent means that the homeownership costs, including mortgage payments, utilities and property taxes, take up 50 per cent of a typical household&amp;rsquo;s monthly pre-taxed income.&lt;/span&gt;&lt;/div&gt;

&lt;/div&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=63759</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>Report Says Homeownership in Manitoba "Reasonably Achievable"</title>

    </item>

    <item>

      <description>&lt;p&gt;&lt;img border="0" hspace="10" width="700" height="395" alt="" src="/_mndata/randy/uploaded_images/1184943.jpg" /&gt;Whether it snows or not, we probably have about two and a half more months of this winter wonderland. Maybe three, depending on where you live. And even though Jack Frost was a slow starter this year, he always means business when he gets going.&lt;/p&gt;

&lt;p&gt;Some people might think that a mild winter is easier on a home than extreme cold weather and lots of snow. But the truth is that both have their risks.&lt;/p&gt;

&lt;p&gt;While deep-freezing weather can cause a homes pipes to freeze, and eventually burst, milder winters can be just as threatening to our homes. How? Because of the extra moisture in the atmosphere.&lt;/p&gt;

&lt;p&gt;Deep-freezing weather is dry, because the cold sucks moisture right out of the air. But during a mild winter, theres usually a lot of precipitation -- and that sets up the conditions for freezing rain. And when freezing rain accumulates, it puts a lot of stress on your home, primarily, its roof.&lt;/p&gt;

&lt;p&gt;For freezing-rain damage to occur, two things need to happen. First, we need precipitation, such as snow. And second, we need warmer, wetter air hitting cold air. When this happens, we have falling snow melting, then refreezing. But there isnt enough time for the precipitation to fully crystallize and turn into snow again. So instead, it instantly freezes when it hits an object. When that object is your roof, you need to be concerned.&lt;/p&gt;

&lt;p&gt;Weve heard the horror stories of roofs and garages collapsing under the weight of ice and snow. Is it due to poor maintenance? Shoddy construction? Crappy materials? Actually, its usually caused by crappy weather.&lt;/p&gt;

&lt;p&gt;Major ice storms cause extensive damage, even deaths, because the accumulated ice causes power lines and trees to snap, which leads to widespread power outages. People can be left without heat or power for days, even weeks.&lt;/p&gt;

&lt;p&gt;And the lack of electricity isnt the only danger. In some storms, sheets of solid ice several centimetres thick can form on top of roofs. Many roofs just cant handle the weight.&lt;/p&gt;

&lt;p&gt;Roofs most prone to collapse are flat rather than sloped. A sloped roof doesnt allow as much ice or snow to accumulate, and, to my mind, the steeper the slope, the better. Ice that forms on top of sloped roofs doesnt get as thick, and that which does accumulate does so around chimneys, skylights, and along the roofs edge.&lt;/p&gt;

&lt;p&gt;The possibility of damage to your roof worsens when melting ice and snow arent allowed to drain. This is typically because of ice dams on the roof and frozen water in eavestroughs. Plus, pressure caused by ice on roof flashings can lead to roof leaks.&lt;/p&gt;

&lt;p&gt;Whether or not your roof can stand up to the weight of winter also depends on the structure below it. If walls inside the home have been removed during a renovation, this may have compromised the entire structural integrity of the house, including its roof. That means the roof wont be able to sustain the regular weight it should be able to carry under regular conditions -- let alone the additional load of snow and ice.&lt;/p&gt;

&lt;p&gt;The best way to get rid of ice and snow on a roof is by creating a proper draining system. Physically removing the ice by chipping it away is dangerous; those sliding slabs can knock you right off the roof, or worse, they can hurt and even kill you. And in most cases, doing so invalidates the warranty on the shingles.&lt;/p&gt;

&lt;p&gt;Removing ice on your roof is not a DIY project, by any means. If ice needs to removed, you need to call in a professional who has a lot of experience dealing with this type of service and who has been properly trained to use the right equipment.&lt;/p&gt;

&lt;p&gt;So how do you know if you need to call in a pro? By determining if the ice and snow on your roof is compromising the homes structural strength. Youll know this if the doors inside your home start to jam and if new cracks start to show up in the drywall and plaster. If you see these, you need to monitor them and make sure they arent getting larger and spreading. Finally, you also need to check your roofs ridge line. If it seems like its sagging, its time to call in a pro.&lt;/p&gt;

&lt;p&gt;&lt;br /&gt;

Whether it snows or not, we probably have about two and a half more months of this winter wonderland. Maybe three, depending on where you live. And even though Jack Frost was a slow starter this year, he always means business when he gets going.&lt;/p&gt;

&lt;p&gt;Some people might think that a mild winter is easier on a home than extreme cold weather and lots of snow. But the truth is that both have their risks.&lt;/p&gt;

&lt;p&gt;While deep-freezing weather can cause a homes pipes to freeze, and eventually burst, milder winters can be just as threatening to our homes. How? Because of the extra moisture in the atmosphere.&lt;/p&gt;

&lt;p&gt;Deep-freezing weather is dry, because the cold sucks moisture right out of the air. But during a mild winter, theres usually a lot of precipitation -- and that sets up the conditions for freezing rain. And when freezing rain accumulates, it puts a lot of stress on your home, primarily, its roof.&lt;/p&gt;

&lt;p&gt;For freezing-rain damage to occur, two things need to happen. First, we need precipitation, such as snow. And second, we need warmer, wetter air hitting cold air. When this happens, we have falling snow melting, then refreezing. But there isnt enough time for the precipitation to fully crystallize and turn into snow again. So instead, it instantly freezes when it hits an object. When that object is your roof, you need to be concerned.&lt;/p&gt;

&lt;p&gt;Weve heard the horror stories of roofs and garages collapsing under the weight of ice and snow. Is it due to poor maintenance? Shoddy construction? Crappy materials? Actually, its usually caused by crappy weather.&lt;/p&gt;

&lt;p&gt;Major ice storms cause extensive damage, even deaths, because the accumulated ice causes power lines and trees to snap, which leads to widespread power outages. People can be left without heat or power for days, even weeks.&lt;/p&gt;

&lt;p&gt;And the lack of electricity isnt the only danger. In some storms, sheets of solid ice several centimetres thick can form on top of roofs. Many roofs just cant handle the weight.&lt;/p&gt;

&lt;p&gt;Roofs most prone to collapse are flat rather than sloped. A sloped roof doesnt allow as much ice or snow to accumulate, and, to my mind, the steeper the slope, the better. Ice that forms on top of sloped roofs doesnt get as thick, and that which does accumulate does so around chimneys, skylights, and along the roofs edge.&lt;/p&gt;

&lt;p&gt;The possibility of damage to your roof worsens when melting ice and snow arent allowed to drain. This is typically because of ice dams on the roof and frozen water in eavestroughs. Plus, pressure caused by ice on roof flashings can lead to roof leaks.&lt;/p&gt;

&lt;p&gt;Whether or not your roof can stand up to the weight of winter also depends on the structure below it. If walls inside the home have been removed during a renovation, this may have compromised the entire structural integrity of the house, including its roof. That means the roof wont be able to sustain the regular weight it should be able to carry under regular conditions -- let alone the additional load of snow and ice.&lt;/p&gt;

&lt;p&gt;The best way to get rid of ice and snow on a roof is by creating a proper draining system. Physically removing the ice by chipping it away is dangerous; those sliding slabs can knock you right off the roof, or worse, they can hurt and even kill you. And in most cases, doing so invalidates the warranty on the shingles.&lt;/p&gt;

&lt;p&gt;Removing ice on your roof is not a DIY project, by any means. If ice needs to removed, you need to call in a professional who has a lot of experience dealing with this type of service and who has been properly trained to use the right equipment.&lt;/p&gt;

&lt;p&gt;So how do you know if you need to call in a pro? By determining if the ice and snow on your roof is compromising the homes structural strength. Youll know this if the doors inside your home start to jam and if new cracks start to show up in the drywall and plaster. If you see these, you need to monitor them and make sure they arent getting larger and spreading. Finally, you also need to check your roofs ridge line. If it seems like its sagging, its time to call in a pro.&lt;br /&gt;

&lt;br /&gt;

Whether it snows or not, we probably have about two and a half more months of this winter wonderland. Maybe three, depending on where you live. And even though Jack Frost was a slow starter this year, he always means business when he gets going.&lt;/p&gt;

&lt;p&gt;Some people might think that a mild winter is easier on a home than extreme cold weather and lots of snow. But the truth is that both have their risks.&lt;/p&gt;

&lt;p&gt;While deep-freezing weather can cause a homes pipes to freeze, and eventually burst, milder winters can be just as threatening to our homes. How? Because of the extra moisture in the atmosphere.&lt;/p&gt;

&lt;p&gt;Deep-freezing weather is dry, because the cold sucks moisture right out of the air. But during a mild winter, theres usually a lot of precipitation -- and that sets up the conditions for freezing rain. And when freezing rain accumulates, it puts a lot of stress on your home, primarily, its roof.&lt;/p&gt;

&lt;p&gt;For freezing-rain damage to occur, two things need to happen. First, we need precipitation, such as snow. And second, we need warmer, wetter air hitting cold air. When this happens, we have falling snow melting, then refreezing. But there isnt enough time for the precipitation to fully crystallize and turn into snow again. So instead, it instantly freezes when it hits an object. When that object is your roof, you need to be concerned.&lt;/p&gt;

&lt;p&gt;Weve heard the horror stories of roofs and garages collapsing under the weight of ice and snow. Is it due to poor maintenance? Shoddy construction? Crappy materials? Actually, its usually caused by crappy weather.&lt;/p&gt;

&lt;p&gt;Major ice storms cause extensive damage, even deaths, because the accumulated ice causes power lines and trees to snap, which leads to widespread power outages. People can be left without heat or power for days, even weeks.&lt;/p&gt;

&lt;p&gt;And the lack of electricity isnt the only danger. In some storms, sheets of solid ice several centimetres thick can form on top of roofs. Many roofs just cant handle the weight.&lt;/p&gt;

&lt;p&gt;Roofs most prone to collapse are flat rather than sloped. A sloped roof doesnt allow as much ice or snow to accumulate, and, to my mind, the steeper the slope, the better. Ice that forms on top of sloped roofs doesnt get as thick, and that which does accumulate does so around chimneys, skylights, and along the roofs edge.&lt;/p&gt;

&lt;p&gt;The possibility of damage to your roof worsens when melting ice and snow arent allowed to drain. This is typically because of ice dams on the roof and frozen water in eavestroughs. Plus, pressure caused by ice on roof flashings can lead to roof leaks.&lt;/p&gt;

&lt;p&gt;Whether or not your roof can stand up to the weight of winter also depends on the structure below it. If walls inside the home have been removed during a renovation, this may have compromised the entire structural integrity of the house, including its roof. That means the roof wont be able to sustain the regular weight it should be able to carry under regular conditions -- let alone the additional load of snow and ice.&lt;/p&gt;

&lt;p&gt;The best way to get rid of ice and snow on a roof is by creating a proper draining system. Physically removing the ice by chipping it away is dangerous; those sliding slabs can knock you right off the roof, or worse, they can hurt and even kill you. And in most cases, doing so invalidates the warranty on the shingles.&lt;/p&gt;

&lt;p&gt;Removing ice on your roof is not a DIY project, by any means. If ice needs to removed, you need to call in a professional who has a lot of experience dealing with this type of service and who has been properly trained to use the right equipment.&lt;/p&gt;

&lt;p&gt;So how do you know if you need to call in a pro? By determining if the ice and snow on your roof is compromising the homes structural strength. Youll know this if the doors inside your home start to jam and if new cracks start to show up in the drywall and plaster. If you see these, you need to monitor them and make sure they arent getting larger and spreading. Finally, you also need to check your roofs ridge line. If it seems like its sagging, its time to call in a pro.&lt;/p&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=63605</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>MIKE HOLMES: Don't let your roof crack under pressure</title>

    </item>

    <item>

      <description>&lt;p&gt;The value of Winnipeg home sales hit $3 billion in 2011, only four years after hitting $2 billion for the first time.&lt;/p&gt;

&lt;p&gt;The record benchmark was achieved with roughly the same number of Multiple Listing Service sales in the respective years.&lt;/p&gt;

&lt;p&gt;That means on average, Winnipeg house values have gone up 50 per cent in four short years.&lt;/p&gt;

&lt;p&gt;It took 99 years for Winnipeg home sales to hit $1 billion in 2002, another five to double to $2 billion in 2007.&lt;/p&gt;

&lt;p&gt;Ralph Fyfe, president of WinnipegREALTORS, the association that represents 1,600 real estate sales professionals, said the excellent sales year is an indication of the strength of the city.&lt;/p&gt;

&lt;p&gt;&amp;quot;Winnipeggers feel like they have arrived,&amp;quot; Fyfe said. &amp;quot;Our city is back on the map as a place to be in Canada.&amp;quot;&lt;/p&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=63567</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>Winnipeg home sales hit $3 billion</title>

    </item>

    <item>

      <description>&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;Manitoba&amp;rsquo;s economy is expected to continue on a solid growth path through 2013, according to the latest RBC Economics Provincial Outlook report.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;Expectations of a sustained global and U.S. recovery will support both manufacturing and natural resources in the province.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;And with the strength of the economy, the local real estate market is also expected to maintain its momentum in the New Year, according to a new RE/MAX report.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;RBC forecasts that Manitoba&amp;rsquo;s economy will grow by 2.5 per cent in 2011, 3.2 per cent in 2012 and three per cent in 2013.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;The province&amp;rsquo;s &amp;nbsp;economic growth is buoyed by it&amp;rsquo;s diversified economy, which is not prone to the booms and busts of other provinces, according to the report.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Manitoba's current economic strength lies in its diversified economy,&amp;rdquo; said Craig Wright, the senior vice-president and chief economist for RBC. &amp;ldquo;With this solid base, the province should have no problem adding three more years to its track record of moderate, but steady progress.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;The strength of Manitoba&amp;rsquo;s economy set the stage for another strong year for real estate activity in Winnipeg, according to the newly-released RE/MAX Housing Market 2012 report.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;The unemployment rate, among the lowest in the nation, that is now hovering around 5.8 per cent, is expected to drop ever lower next year due to Winnipeg&amp;rsquo;s &amp;ldquo;vibrant&amp;rdquo; economic outlook.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;Income growth spurred consumer confidence and buyer intentions,&amp;rdquo; &amp;nbsp;RE/MAX reported, &amp;ldquo;while the city&amp;rsquo;s population continued to rise, supporting new household formations.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;With the belief in homeownership as strong as ever, Winnipeg&amp;rsquo;s real estate market is on track to post a near record performance&amp;rdquo; this year.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;WinnipegREALTORS&amp;reg; president Ralph Fyfe said the local economy and the real estate market is &amp;ldquo;firing on all cylinders.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;The average house price in Winnipeg is projected to rise by four per cent this year to $240,000, and by three per cent in 2012 to $247,000.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-image: initial"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;What 2011 proves is that real estate continues to have momentum,&amp;rdquo; said Elton Ash, the regional executive vice-president for RE/MAX of Western Canada. &amp;ldquo;The economic underpinnings support ongoing demand, particularly as job creation efforts continue and unemployment rates edge down further.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=63549</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>Strong economy foundation for a strong real estate market</title>

    </item>

    <item>

      <description>&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;In the last article (October 28, Professionally Speaking), we talked about how our Downtown is planned to grow and change. Downtown, however, isn&amp;rsquo;t the only area poised to transform in the coming years. Through OurWinnipeg and the Complete Communities Direction Strategy, our city&amp;rsquo;s centres, corridors and major redevelopment sites will also see significant changes over time.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Centres are hubs of localized activity which offer a variety of housing options, activities, services and employment opportunities. Corridors are important city routes that also serve the additional purpose of accommodating a mix of uses, functioning and vibrant places for Winnipeggers to live, work &amp;nbsp;and play. Some corridors &amp;mdash; rapid transit corridors &amp;mdash; support rapid transit with higher densities around rapid transit stations. Major redevelopment sites are large, underused parcels of land that are close to existing communities and are prime locations for intensification.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Centres, corridors and major redevelopment sites are all major components of how the city fits together and functions. They are mapped in the Complete Communities Direction Strategy (available online at speakupwinnipeg.com) and will be further refined over time.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Winnipeg is entering a forecasted period of significant long-term growth. Centres, corridors and major redevelopment sites present major opportunities to accommodate new housing, retail and amenities through mixed use development. Take, for example, our regional mixed-use centres (regional shopping centres). These areas often occupy a large amount of land and have the capacity to grow and change, incorporating housing and other land uses that they typically have not provided in the past. Over time, they can evolve into vibrant, higher density areas with multiple transportation options, integrated with the surrounding neighbourhood. The same is true for regional mixed-use corridors and major redevelopment sites.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;While centres, corridors and major redevelopment sites vary in form, size and readiness for development, they share some common opportunities:&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;bull; Convenient access to goods and services.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;bull; A high level of transit access.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;bull; Well-connected to the street network.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;bull; Opportunity for a range of uses, such as commercial, jobs and higher-density housing.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;bull; Opportunity for high-quality public gathering spaces and activity areas.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;What tools will help realize the vision for centres,&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;corridors and major redevelopment sites?&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;The Complete Communities Direction Strategy acts as the &amp;ldquo;playbook,&amp;rdquo; guiding development in all parts of the city, including centres, corridors and&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;major redevelopment sites. Several other tools are also being created or have been created to serve as tools for implementation. For example, the Complete Communities Checklist is a new tool under development that is intended to assist development stakeholders in achieving complete communities. The city&amp;rsquo;s Zoning By-Law 200/2006 will be reviewed and aligned to support the Complete Communities Direction Strategy.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Current success stories are being featured on an&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;interactive online map &amp;nbsp;which will be expanded over time. City departments will be working together to ensure that their daily work and budgets support the goals of OurWinnipeg, Complete Communities, and the other three direction strategies: sustainable transportation, sustainable water and waste, and a sustainable&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;Winnipeg.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;To learn more, visit speakupwinnipeg.com. While you&amp;rsquo;re there, check out OurWinnipeg in Action, a new online interactive map tool that helps you learn about the urban structure and innovative projects taking place in different parts of the city.&lt;/span&gt;&lt;/div&gt;

&lt;div style="text-align: justify; padding-bottom: 0px; border-right-width: 0px; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; border-top-width: 0px; border-bottom-width: 0px; letter-spacing: normal; color: rgb(105,105,105); vertical-align: baseline; border-left-width: 0px; word-spacing: 0px; padding-top: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;mdash; provided by the Planning and Land Use Division of the city&amp;rsquo;s Planning, Property and Development Department.&lt;/span&gt;&lt;/div&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=63088</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>Hubs of localized activity</title>

    </item>

    <item>

      <description>&lt;div class="article"&gt;

&lt;p&gt;WINNIPEG &amp;mdash; Investment in new and existing homes is at an all-time high, driving up property values and selling prices in Winnipeg at one of the fastest paces in the country, according to a new study by RE/MAX.&lt;/p&gt;

&lt;p&gt;The real estate firm said today the average selling price of a Winnipeg home soared by 158 per cent between 2000 and 2010, climbing to $228,706 from $88,553.&lt;/p&gt;

&lt;p&gt;Only three of the other 15 Canadian cities included in the study &amp;mdash; Regina (173 per cent), Edmonton (165 per cent), and Saskatoon (163 per cent) &amp;mdash; saw bigger increases, the firm said in its RE/MAX Housing Evolution Report. The national average increase was 106 per cent.&lt;/p&gt;

&lt;p&gt;RE/MAXsaid Manitoba&amp;rsquo;s capital also could just be looking at even bigger price gains in the coming years.&lt;/p&gt;

&lt;p&gt;&amp;quot;Winnipeg is arguably the Canadian city with the greatest potential for house price appreciation, propped up by renovation, new construction and urban renewal.&amp;quot;&lt;/p&gt;

&lt;p&gt;It noted it also has the country&amp;rsquo;s greatest proportion of aging homes, with more than half of the city&amp;rsquo;s homes having been built before 1970.&lt;/p&gt;

&lt;p&gt;&amp;quot;Yet, in relative terms, rejuvenation is just beginning to gain solid momentum. The trend has been ramping up since 2000, in tandem with new construction, and will gain even more momentum going forward as Winnipeg implements its 25-year strategic plan,&amp;quot; it said.&lt;/p&gt;

&lt;/div&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62992</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>Average selling price of city homes soars</title>

    </item>

    <item>

      <description>&lt;span class="Apple-style-span" style="text-align: justify; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; letter-spacing: normal; color: rgb(105,105,105); word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-decorations-in-effect: none; -webkit-text-stroke-width: 0px"&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;When speaking before 400 real estate agents and brokers during the WinnipegREALTORS&amp;reg; trade and technology show, Mayor Sam Katz stressed that the city needed more infill housing.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;At the Victoria Inn last week, Katz said that the CN Fort Rouge Yards project would deliver 900 units of much needed housing and small-scale commercial space while broadening the city&amp;rsquo;s tax base, and that&amp;rsquo;s why he favoured the $10-million loan guarantee to Gem Equities.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;City council last Wednesday morning agreed with the mayor and approved the loan guarantee for the condominium and townhouse project. Only councillors Mike Pagtikhan and Russ Wyatt opposed the motion.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;&amp;ldquo;It&amp;rsquo;s a great project,&amp;rdquo; Katz told the agents and brokers, adding that government has a role to play when there&amp;rsquo;s &amp;ldquo;a void that has to be filled ... but (city hall) shouldn&amp;rsquo;t get involved when the private sector can do it alone.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;In the case of Gem Equities, the Federation of Canadian Municipalities (FCM) was willing to provide $14.7 million in loans and grants, if the city agreed to the loan guarantee.&amp;nbsp;&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;The project is expected to cost $79 million.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;The guarantee was promoted by Jenny Gerbasi, the councillor for the area, who said the city had done its homework before giving its approval.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;Critics of the project alleged Gem Equities owner. Andrew Marquess, had a history of not paying creditors and suppliers and owed the city property taxes. Some area residents opposed the project because of its overall size and the potential it posed to create traffic problems in the area.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;If the developer defaults , Katz said the city will still come out ahead, as it will then have an asset in the Lord Robert&amp;rsquo;s neighbourhood valued at substantial more than the loan guarantee.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;Zoning for the Fort Rouge Yards was changed in December 2010 to Residential Mixed Use (RMU), which allows for residential development and supporting small-scale commercial, institutional and service facilities.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;According to the OurWinnipeg website about the development, it will &amp;ldquo;include a wide range of ecologically sensitive features such as district-wide geothermal heating, low-flow water fixtures &amp;lsquo;Green&amp;rsquo; building products, an energy-efficient building envelop, storm water management and green roofs.&amp;rdquo;&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;The high-density development will also include transit/town plazas, as well as parks and other greenspace.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;Gem Equities plans to subdivide the site into six lots to accommodate 452 townhouses and two high-rise towers.&lt;/span&gt;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&lt;span style="color: #000000"&gt;The former industrial 16-acre site is bordered by Berwick Field on the south, the South West Rapid Transit Corridor on the west, Argue Street on the east and proceeds north to just past Berwick Place&lt;/span&gt;.&lt;/div&gt;

&lt;/span&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62828</link>

      <pubDateParsed>2012-02-06T11:36:09.8674Z</pubDateParsed>

      <title>City council approves $10-million guarantee for 900-unit housing project</title>

    </item>

    <item>

      <description>&lt;span class="Apple-style-span" style="text-align: justify; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; letter-spacing: normal; color: rgb(105,105,105); word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-decorations-in-effect: none; -webkit-text-stroke-width: 0px"&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;OurWinnipeg is the new official plan that will guide change in our city over the next 25 years. OurWinnipeg is accompanied by a detailed land-use and development plan (bylaw), entitled the Complete Communities Direction Strategy. OurWinnipeg and the Complete Communities Direction Strategy were adopted by city council on July 20 and took effect on August 17, replacing the previous Plan Winnipeg.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;OurWinnipeg was created over the past two years with the input of more than 42,000 Winnipeggers through the award-winning SpeakUpWinnipeg public engagement process. In this process, Winnipeggers participated through online blogs and through lively face-to-face group discussions.&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;A street team was sent out to talk with Winnipeggers at malls, parks, libraries and sporting events in their neighbourhoods. Winnipeggers were provided with video cameras to record their stories and wishes for the future, children were invited to use clay to model their ideas, and thousands participated in open houses, meetings, and events.&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Not only did SpeakUpWinnipeg break new ground for the city, but so has the OurWinnipeg plan. Never before has the city created an official plan that places so much emphasis on sustainable growth and change.&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;OurWinnipeg provides direction for housing, city-building, competitiveness, quality of life, environment, and more.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Did you know?&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;OurWinnipeg and SpeakUpWinnipeg have won two national awards in the past year: the Canadian Institute of Planners&amp;rsquo; Award for Planning Excellence, and ReNew Canada magazine and REVITALIZ, LLC&amp;rsquo;s Places to Invest (see speakupwinnipeg.com for more information).&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Learning about Our Winnipeg and complete communities&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Over the next few months, the city&amp;rsquo;s Planning and Land Use Division will be providing a series of short articles for the Professionally Speaking column in the WREN to help you learn more about OurWinnipeg and the Complete Communities Direction Strategy. Each article will focus on a different part of the urban structure, which is the city&amp;rsquo;s new framework for accommodating growth in different parts of the city. The series will include:&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&amp;bull;&lt;span class="Apple-tab-span" style="padding-bottom: 0px; border-right-width: 0px; margin: 0px; padding-left: 0px; padding-right: 0px; white-space: pre; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt; &lt;/span&gt;Downtown&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&amp;bull;&lt;span class="Apple-tab-span" style="padding-bottom: 0px; border-right-width: 0px; margin: 0px; padding-left: 0px; padding-right: 0px; white-space: pre; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt; &lt;/span&gt;Centres, corridors and major redevelopment sites&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&amp;bull;&lt;span class="Apple-tab-span" style="padding-bottom: 0px; border-right-width: 0px; margin: 0px; padding-left: 0px; padding-right: 0px; white-space: pre; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt; &lt;/span&gt;New communities&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&amp;bull;&lt;span class="Apple-tab-span" style="padding-bottom: 0px; border-right-width: 0px; margin: 0px; padding-left: 0px; padding-right: 0px; white-space: pre; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt; &lt;/span&gt;Employment areas&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&amp;bull;&lt;span class="Apple-tab-span" style="padding-bottom: 0px; border-right-width: 0px; margin: 0px; padding-left: 0px; padding-right: 0px; white-space: pre; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt; &lt;/span&gt;Areas of stability&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Visit speakupwinnipeg.com. And while you&amp;rsquo;re there, check out OurWinnipeg in Action, a new online, interactive map tool that helps you learn about the urban structure and innovative projects taking place in different parts of it.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;&amp;mdash; provided by Planning and Land Use Division, City of Winnipeg Planning, Property and Development Department.&lt;/div&gt;

&lt;/span&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62780</link>

      <pubDateParsed>2012-02-06T11:36:09.883Z</pubDateParsed>

      <title>New 25-Year Plan to Guide Winnipeg Development</title>

    </item>

    <item>

      <description>&lt;span class="Apple-style-span" style="text-align: justify; widows: 2; text-transform: none; background-color: rgb(255,255,255); text-indent: 0px; font: 13px/16px sans-serif; white-space: normal; orphans: 2; letter-spacing: normal; color: rgb(105,105,105); word-spacing: 0px; -webkit-text-decorations-in-effect: none; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px"&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;The Manitoba Real Estate Association and WinnipegREALTORS&amp;reg; hosted a provincial leaders forum broadcast live on Shaw TV on September 14. During the forum, one of the questions asked was whether the party leaders were commited to providing Manitoba home buyers with land transfer tax (LTT) relief.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;In addition, REALTORS&amp;reg; also sent the three main political parties four written questions of concern to their members and Manitobans. The fourth question dealt with the LTT. Manitoba has the highest LTT in the country for first-time home buyers. Two other provinces also have the highest two-per-cent LTT rate levied on home purchases, but they offer generous first-time home buyer exemptions. For repeat home buyers, Manitoba&amp;rsquo;s LTT is the second highest. B.C.&amp;rsquo;s LTT rate of two per cent is the same for any sale over $200,000, but the West Coast province collects $2,000 instead of $1,650 for a property valued at $200,000. In Ontario&amp;rsquo;s case, its two per cent LTT rate does not kick in until a property is valued over $400,000.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;The significantly higher LTT upfront closing cost (average increase has risen 1000 per cent since being introduced in 1987) has clearly made it more difficult for new entrants into Winnipeg&amp;rsquo;s housing market. This does not preclude other first-time sellers, who are buying their second home, or other buyers from potentially having to come up with the much higher LTT cost to pay for a home purchase. For example, anyone buying a home in either Winnipeg&amp;rsquo;s southeast or southwest quadrant, based on today&amp;rsquo;s average sale price, has to pay an estimated $3,700 LTT. &amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;The following breakout shows the three main political party responses to the LTT question, followed by a &amp;ldquo;realty&amp;rdquo; &amp;nbsp;check.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Manitoba NDP&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;At the leaders&amp;rsquo; forum, Greg Selinger did not directly answer the question as liberal leader Dr. Jon Gerrard pointed out. Selinger said every Manitoban should be treated equally, and then went into a description of the education property tax credits to property owners. Selinger indicated he will increase the seniors&amp;rsquo; tax credit from $1,025 to $1,100 while leaving the credit for a principal homeowner at its current $700. He tried to address our housing shortage caused by population increases. He spoke of building more housing and training more trades people. While not really answering the question about providing land transfer tax relief, he did say that the &amp;ldquo;biggest asset a family has is their home.&amp;rdquo;&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Selinger said land transfer taxes or similar fees are assessed in every province and Manitoba&amp;rsquo;s tax ranks in the middle of the pack. He emphasized homeowners only have to pay it when they buy a home and that they benefit from annual education property tax reductions. Finally, he said for every $1 in LTT revenue the province generates, they return $5.30 in education property tax relief.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Realty Check &amp;mdash; Manitoba is not in the middle of the pack. They are at the top of the heap due to bracket creep, as the majority of home buyers are now exposed to the highest LTT rate of two per cent in the country. For first-time buyers, who do not have the benefit of equity built up and/or gained from owning a home, they must come up with upfront after-tax dollars in addition to a down payment and other closing costs before taking title to their first home. It clearly is an impediment and can literally be the difference in whether they can afford to buy their dream home. In essence, the LTT can prevent their entry into homeownership.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;It is small comfort to young buyers unable to attain homeownership due to an unreasonably high LTT to know that seniors are getting higher education property tax relief. Where is the fairness?&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;As for property tax relief for those who do own a home, it is a totally unfair comparison. There will &amp;nbsp;always be a far smaller number of buyers each year compared to the total number of property owners. Obviously, any property tax relief on a far larger pool of people (Manitoba still has some of the highest education taxes on property in the country), in comparison to thousands of dollars in LTT for the purchase of a home, will &amp;nbsp;make it appear more benign than it actually is for the individual home buyer.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;The emphasis to build more housing of all types is welcome given our extremely tight rental market with a vacancy rate below one per cent. However, in the context of providing land transfer tax relief, Selinger said the exact opposite. By creating more housing with no reduction in the land transfer tax rate, his party views the tax as growth revenue for the province. The sad part about this approach is that it has a negative impact on home buyers and the real estate market in general, which, in and of itself, brings significant economic spin-offs to the province.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Moreover, by not offering land transfer tax relief, especially to first-time buyers who are currently renting, badly needed rental space will not be freed up &amp;nbsp;for those who prefer to rent and are unable to find rental accommodations.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;If Selinger feels that the biggest asset a family has is a home and knowing that the average homeowner can move as often as every five to seven years, is he and/or his party not concerned that the tens of thousands of dollars in equity the province grabs from a home buyer over a lifetime takes away from their retirement nest egg?&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Manitoba PC Party&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;At the leaders forum, McFadyen was critical of Selinger dodging the question and Gerrard not coming up with anything concrete in his platform. He said his party will offer a first-time home buyer exemption. He promised that a young family starting out buying their first home will not pay a LTT, taking thousands of dollars off the cost of their first home. As a result, McFadyen said it will ensure young people will want to stay in our province and set down roots and contribute to the building of Manitoba.&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;He went on to agree that the LTT is much higher than it should be. The final point made was that his party makes no more promises than bringing in a first-time home buyer exemption. &amp;ldquo;(As) we go forward, we know we would like to do even better as the budget allows,&amp;rdquo; he added.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;The written response reinforced what McFadyen said at the forum, but an addition was the promise to review the LTT as part of a post-election financial review.&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Realty Check &amp;mdash; It is a step in the right direction. The question becomes how the exemption will be structured if they form the next government. It is certainly the wish of REALTORS&amp;reg; to be consulted, as they know first-hand the impact of the tax on buyers and how changes to the LTT can be helpful to, not only first-time buyers, but repeat buyers. REALTORS&amp;reg; propose moving up the exemption &amp;mdash; as it was done originally in 1987 from $0 to $30,000 &amp;mdash; to a threshold level more in keeping with today&amp;rsquo;s house prices so that other home buyers also get some LTT relief.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;REALTORS&amp;reg; are encouraged that the PCs are prepared to review the LTT, and that their leader acknowledges the tax is much higher than it should be. If there is a concern, we would not want it to be delayed in order to achieve a balanced budget in seven years. Home buyers deserve better. The tax is at an unjustifiably high level now and it&amp;rsquo;s likely it will become even more excessive as time elapses.&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Manitoba Liberal Party&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;At the leaders forum, Gerrard explained the LTT and indicated it is two per cent. He went on to say that the big increases in house prices &amp;nbsp;means buyers need to put out more dollars and the LTT adds to the price of a home. As a result of the LTT rising, he said it is higher than it needs to be for the purpose it was originally intended.&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Gerrard said he would work with REALTORS&amp;reg; to reduce the LTT to make it less onerous. REALTORS&amp;reg; are calling for a review of the LTT, with an emphasis on original intent and impact after 25 years of being in place, which received the Liberal Party&amp;rsquo;s support. The party said Manitoba has the worst inter-provincial migration rate for young people to other provinces. They want young people to return to Manitoba. Removing the LTT for them &amp;ldquo;is key to making Manitoba a magnet for young people.&amp;rdquo;&amp;nbsp;&lt;/div&gt;

&lt;div style="padding-bottom: 0px; border-right-width: 0px; margin: 15px 5px; padding-left: 0px; padding-right: 0px; border-top-width: 0px; border-bottom-width: 0px; font-size: 13px; vertical-align: baseline; border-left-width: 0px; padding-top: 0px"&gt;Realty check &amp;mdash; Since the Liberals have no realistic chance of forming the next government, they will be unable to bring LTT relief to Manitoba home buyers. The best home buyers can hope for is that &amp;nbsp;the Liberals take on an advocacy role while &amp;nbsp;in opposition, bringing attention to the unfairness of the LTT and its negative affects on our young people . REALTORS&amp;reg; would also want the advocacy to go beyond first-time buyers, as the LTT is a burden that is increasing and affects all Manitoba home buyers.&lt;/div&gt;

&lt;/span&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62619</link>

      <pubDateParsed>2012-02-06T11:36:09.883Z</pubDateParsed>

      <title>Land transfer tax — provincial party leaders’ answers receive a “realty” check</title>

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    <item>

      <description>&lt;div class="editorialTxt"&gt;

&lt;div&gt;

&lt;p&gt;When Finance Minister Eugene Kostyra brought in the new land transfer tax in 1987, his provincial budget statement claimed the tax was fair because it &amp;ldquo;gives a break to those purchasing average and low-cost housing.&amp;rdquo;&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;I guess they felt that, if you were buying a home above the average price, you were privileged enough to pay an additional home buyer&amp;rsquo;s tax to the government. In fact, if you read some of the logic behind B.C.&amp;rsquo;s rationale for the high land transfer tax that province levies on its citizens, it is actually called a wealth tax. Let the rich pay!&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Even if you accept the preceding premise, which many home buyers would challenge on the basis of unfairness and being singled out for putting money into more expensive shelter than someone else, the reality now is that no one gets a break. There is no generous first-time home-buyer exemption similar to B.C. and Ontario (Alberta and Saskatchewan do not have a land transfer tax).&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;As a result of the average house price tripling in 24 years, the majority of homes, including many being purchased by first-time buyers, are in excess of $200,000, the level at which the highest land transfer tax rate in the country kicks in. The tax then becomes a potential inhibitor to a buyer being able to come up with enough money for a down payment and other closing cost dollars to purchase a home.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;While hardly a fair tax in the first place, as it had nothing to do with the replacement of the corresponding government service required to register a title for a property purchase, it can be said, as conceived in 1987, that it was then more akin to a user fee as we now understand the term. On a modest home under $80,000, the tax charged based on a tax rate schedule was zero per cent from $0 to $30,000, 0.5 per cent for values from $30,001 to $90,000, one per cent for values from $90,001 to $150,000, and 1.5 per cent for any amount over $150,000. At the time, it was noted that for any property of $75,000 or less, the tax was not much different from the previous flat fee charged by the Land Titles Office. It was said to be revenue-neutral.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Fast forward to 2011. The average selling price of a single-family home is over $250,000, and the government now charges a two-per-cent land transfer tax for any home sold for over $200,000. This higher rate came into effect in 2004. It&amp;rsquo;s a potent combination of higher sale prices and the highest tax rate in the country, meaning the tax grab is far in excess of anything initially contemplated in 1987, and now adds over $50 million to the province&amp;rsquo;s revenues. In 1988, Kostyra said it would only raise half the $9.7 million that had been budgeted. One of the reasons cited for not meeting their expected dollar target was that savvy buyers rushed to register their properties prior to the May 15 &amp;nbsp;launch of the new tax.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Do you think there would be a similar rush today? You bet! For them, the land transfer tax impact is far greater than in 1987 &amp;mdash; as much as 1,800 per cent on the same home bought in 1987. With this in mind, you may come to appreciate how the tax can truly be an impediment to buying a home.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;WinnipegREALTORS&amp;reg; has put together a new addition to the 2muchltt.com website dedicated to showing comparisons in land transfer taxes paid for the same home in 1987 and in 2010-11. &amp;nbsp;An older home built in 1904 in St. Boniface sold for $75,500 in 1987 and $266,000 in 2010. The land transfer tax increased 1,305 per cent from $227.50 in 1987 to $2,648.00 in 2010. While both the home&amp;rsquo;s sales price equates closely to Winnipeg&amp;rsquo;s overall single-family average sales price for the respective years, it was anything but revenue neutral in 2010. &amp;nbsp;Quite simply, it is now a land transfer tax in overdrive &amp;mdash; excessive to put it mildly.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;In various neighbourhoods throughout Winnipeg, the statements of home buyers drives home the message of the excessive tax.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;Although we purchased a house here in Winnipeg in 2003,&amp;rdquo; said homeownwers R &amp;amp; D, &amp;ldquo;its value has gone up considerably and at some point we are considering downsizing which of course would mean the purchase of another house or condominium. &amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;However, the thought of having to pay the increased amount involved in the revised 2004 tax (two per cent) makes us hesitant to go ahead. We will wait until something can be done to improve the LTT situation.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;I would appreciate any website that would keep us current on this situation or anything further we can do as homeowners,&amp;rdquo; they added.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The website is www.2muchltt.com&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;It is now quite evident that the land transfer tax needs an overhaul, or, at minimum, a real examination of its intent. Is the objective of the current provincial government to discourage, frustrate and even impede home buyers? Hopefully not.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;With the increased immigration to our province, we should be doing exactly the opposite! Manitoba has the lowest rental vacancy rate in the country at under one per cent. So there is a need to encourage a more robust first-time home-buyers&amp;rsquo; market. By doing so, we will free up desperately needed rental units for Manitobans unable to buy a home.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;How can you make a difference on this serious issue? Ask your candidate about what they are prepared to do with the land transfer tax if they get elected October 4.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;One thing government is apt to do in resisting any call for a change to an unfair tax such as the LTT is to say where will it find the money to replace the tax? There is a laundry list of items where efficiencies can be found to make up for the lost revenue. And the money home buyers save from a reformed tax will undoubtedly be put right back into the economy through accessorizing their new home to their particular needs, including renovations or alterations.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Providing $10 million in home-buyer tax relief represents a mere one-10th of a percentage point of the province&amp;rsquo;s entire budget &amp;mdash; a trifle.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;On the other hand, if you ask a number of home buyers, especially first-time buyers, where are they going to find the money to pay the tax, the answer in a number of cases is that they have no more funds available in their home-buying budget. As a result, they lose the opportunity of gaining a foothold in the homeownership market in order to build a solid foundation and future for their family.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Over a lifetime, a homeowner on average can sell and move every five to seven years, so that multiple payments of the land transfer tax means they will lose thousands of dollars in equity that they would have otherwise transferred to their retirement nest egg.&lt;/p&gt;

&lt;/div&gt;

&lt;/div&gt;

&lt;!-- END CONTENT PLACEHOLDER MAIN --&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62522</link>

      <pubDateParsed>2012-02-06T11:36:09.883Z</pubDateParsed>

      <title>Land transfer tax - a burden on home buyers that is far from revenue-neutral as was first intended</title>

    </item>

    <item>

      <description>&lt;div&gt;

&lt;p&gt;Who needs a Downtown Housing Plan, when the $40-million residential development grant program is proving to be &amp;ldquo;successful&amp;rdquo; in leveraging dozens of housing projects?&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;While some may already be claiming victory and thinking there is no longer a need for a plan, most of us who are in the field know differently.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;A thriving downtown residential neighbourhood can only be achieved when there is an abundance of people downtown, walking around at all hours of the day, for work, entertainment, hospitality and retail, or just for a leisurely stroll. &amp;nbsp;In city planning terms, encouraging density and mixed-use developments, with storefronts and creating incredible public spaces, are essential ingredients. So it should be easy to understand that simply allocating public dollars to stimulate housing will not necessarily get us there &amp;mdash; only a plan can.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;That&amp;rsquo;s why the Downtown Housing Plan is important. A strategy that ensures public incentives are guided &amp;mdash;both strategically and comprehensively to achieve our downtown housing vision &amp;mdash; is critical in reaching our aspirations of a vibrant and complete neighbourhood.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;In other downtowns, developers simply gobble up incentives, taking a shotgun and &amp;ldquo;let&amp;rsquo;s wait and see where the dust settles&amp;rdquo; approach. We can learn from these cities and make sure that our plan contains key strategies that indicate the city is serious about moving our downtown forward, such as greater coordination in the marketing of our downtown to the public, enhancement of our public spaces and a greater variety of transportation options.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Our plan has all these components. The plan also looks at the efficient and consistent delivery of city planning regulations in addition to a downtown safety strategy that will ensure residents and visitors feel safe on our downtown streets during the day and night.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;nbsp;The plan, however, falls short in some key areas. It does not address how the city will deal with SRO (Single Room Occupancy) hotels and the over concentration of social housing in and around our downtown and its negative impact.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;If we&amp;rsquo;re going to talk about downtown housing, these social issues and all levels of government must be drawn into being part of the plan. This can still happen.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;nbsp;Also, thoughtful city planning presents an opportunity to foster communities built on the principles of greater cultural and economic diversity, leading to a stronger, safer and more tolerant city.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Although the plan is silent on it, a strategy that insists on a broad housing mix with a range of incomes and households is critical. All that is needed is the proper allocation of grants to these key areas and the market will respond.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The importance of directing housing development to create the desired density needed to stimulate mixed-use buildings and storefronts is also absent from the plan. This too can be simply addressed by giving greater priority for projects that reflect these critical values. Ensuring the private sector helps us achieve our vision is critical.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;While it has taken only months for developers to respond, it has taken years for our downtown business community, and even the media, to advocate for the proper housing incentives to get going. Now, the real work begins. The plan no doubt is a great start and it will evolve.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Real success will not be based on how many developers line up for the housing grant program this year, but rather on how well we use the Downtown Housing Plan as a blueprint to foster a more thoughtful vision for a downtown, where development and initiatives are carefully planned and implemented, leveraging sacred public dollars to create a world-class urban residential neighbourhood.&lt;/p&gt;

&lt;/div&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62424</link>

      <pubDateParsed>2012-02-06T11:36:09.883Z</pubDateParsed>

      <title>A downtown housing strategy</title>

    </item>

    <item>

      <description>&lt;div class="editorialTxt"&gt;

&lt;div&gt;

&lt;p&gt;A homeowner on Oxford Street received a letter from his insurer stating that his home insurance was up for review pending an electrician&amp;rsquo;s report. Two electricians actually supplied reports stating that the home contained knob and tube wiring, but that it was safe.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Despite the favourable reports, the insurance company refused to insure the home. Since then, the homeowner has had $25,000 worth of work done to change all the wiring in his home in order to have his insurance provider renew his policy.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;Why are insurance companies being so aggressive with good, honest, premium-paying citizens who have done nothing wrong?&amp;rdquo; wondered the frustrated Oxford Street resident.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;Where is the proof that insurance companies in general are dealing with losses from houses burning to the ground in knob and tube induced fires?&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Actually, there is no verifiable proof, according to a recently-released report by a Manitoba Real Estate Association (MREA) task force on knob and tube wiring. The report contains statistics from the city of Winnipeg 2006 census and the office of the fire commissioner that show electrical fires in homes made up less than six per cent of all losses to fire.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;The majority of issues arise with improper installation of new components or lack of maintenance on the existing system (regardless of what electrical system is in place),&amp;rdquo; said Deputy Fire Chief Justin Panagapko.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The concerns expressed by the Oxford Street resident are far from unique, which is why the MREA in May formed a 10-member task force chaired by Brad Walker, a past-president of MREA, a REALTOR&amp;reg; and a Neepawa-based insurance broker, to investigate the growing number of concerns the association was receiving from the public about the difficulty of obtaining insurance for homes with knob and tube wiring.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;MREA president Lorne Weiss said insurance companies haven&amp;rsquo;t provided a clear explanation about their demands for higher premiums or the refusal to grant &amp;nbsp;insurance due to the presence of knob and tube wiring in homes.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;What are the insurance companies using as their benchmark?&amp;rdquo; he asked.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Weiss said Winnipeg has a great number of homes with such wiring &amp;mdash; which is approved by Manitoba Electrical Code &amp;mdash; as a result of the city&amp;rsquo;s large percentage of older pre-war and post-war housing stock.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;According to the report, between 30,000 to 35,000 of the city&amp;rsquo;s 160,000 homes have knob and tube wiring, while 50 per cent of the homes in areas, such as Brooklands, Weston, Point Douglas, Fort Rouge and other older neighbourhoods with modest housing, were built prior to 1940. These are the neighbourhoods with &amp;ldquo;affordable&amp;rdquo; housing affected by the uncertainty of obtaining insurance coverage due to the presence of knob and tube wiring.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;People in these homes haven&amp;rsquo;t upgraded their wiring because it hasn&amp;rsquo;t been necessary,&amp;rdquo; said Weiss, a member of the knob and tube wiring task force.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;But when it comes to insuring a home, it may become quickly necessary, as insurance companies have been refusing to provide insurance unless costly upgrades of up to $35,000 are undertaken.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;After buying a knob-and-tube wired home on Henderson Highway, a couple was told the house required $15,700 worth of electrical upgrades within two months before they could take possession and be granted insurance.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;A Cobourg Avenue couple had insurance coverage on their 100-year-old home, but when they decided to sell it, no insurance company would insure the new owners. The couple ended up paying $6,000 to have the wiring changed as a condition of the sale.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;Our industry is not in favour of people buying homes that are unsafe,&amp;rdquo; said Weiss. &amp;ldquo;We would support safety inspections by qualified electrical contractors, looking at the electrical service being adequate for the needs of the home, but what we want to hear from insurance underwriters is a clear statement of what they&amp;rsquo;re looking for and why they zeroed in on knob and tube wiring.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Even Canada Mortgage and Housing Corporation, &amp;ldquo;does not restrict insurability on homes with knob and tube wiring,&amp;rdquo; the task force was told in a letter from Cam Dupuis, the regional advisor for &amp;nbsp;research and information transfer from Calgary for CMHC, the federal agency that provides mortgage insurance to home buyers.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Another letter was received from A. Marantz of Trained Eye Home Inspection confirming that knob and tube wiring &amp;ldquo;poses no danger as long as the wiring has not been tampered with or that the insulation has not burned away.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;When modifications to such an electrical system are performed, it is invariably a lack of familiarity with old-style knob and tube wiring that leads to problems.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The research undertaken by the task force found that policy holders in homes with knob and tube wiring &amp;ldquo;are being notified that their insurance will not be renewed unless the knob and tube is replaced in short order (30 to 60 days).&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;Failure by the owner to do so within the time frame has resulted in non-insurance or cancellation; a serious breach of their mortgage agreement.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;In some cases,&amp;rdquo; according to the report, &amp;ldquo;the insurance company&amp;rsquo;s notice to the homeowner is triggered by the sale of the home. In other cases, it is the annual re-insurance of the home.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;In either case, the homeowner has been given very short notice to address an issue that certified electricians have (previously) verified is approved.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Since the cost of removing the wiring is extremely high, the report recommends that Manitoba Hydro&amp;rsquo;s &amp;nbsp;Energy Finance loan program be extended to electrical upgrades, capped at $25,000 per home with a 15-year amortization period and a borrowing rate of one per cent above prime (the prime rate for Canadian charter banks is three per cent).&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Currently, the plan allows for a maximum of $5,000, a five-year term and an interest rate of 8.75 per cent.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;If the long-term goal is to replace all the knob and tube wiring,&amp;rdquo; said Weiss, &amp;ldquo;then better solutions and assistance have to be presented.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The report compiled by the task force, which also included Claude Davis, Steve Hunt-Lesage and Kim Thompson from WinnipegREALTORS&amp;reg;, Al Morin, the CEO of Assiniboine Credit Union, Michael Barrett, the president-elect of the Brandon Real Estate Board, Tim Sale, a former provincial cabinet minister, and MREA CEO Brian Collie, made five recommendations and a promise &amp;ldquo;to raise the public profile about this issue.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The MREA report recommends that the insurance industry clearly define and provide evidence on the issue of knob and tube wiring and their reluctance to underwrite homes containing such wiring, and if unable to provide verification of its position, abandon its &amp;ldquo;zero-tolerance policy.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Other recommendations include at least six months notice by insurance companies to homeowners for electrical upgrades, better trained and licensed home inspectors (many professionals, including electricians, are unfamiliar &amp;nbsp;with old-style knob and tube wiring) to report on wiring conditions specific to a home, and insurance companies providing potential policy holders with clearly defensible requirements for obtaining home insurance &amp;mdash; &amp;ldquo;not the nature of it.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Weiss said members of the task force will be meeting with Gord Mackintosh, the provincial minister of family services and consumer &amp;nbsp;affairs, to discuss the findings contained in the report within the next week or two.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Weiss said the provincial government has a role to play o determine if knob and tube wiring is really a problem.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Meanwhile, the report has been forwarded to Jim Scalena, the provincial superintendent of insurance.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;In June, Mackintosh asked the province&amp;rsquo;s director of consumer protection, the superintendent of insurance and the fire commissioner produce a report by November 1 on knob and tube wiring.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The consumer affairs minister said it was time to undertake a formal review on the extent of the demand for electrical upgrades by the insurance industry and the&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;fairness of such demands on consumers.&lt;/p&gt;

&lt;/div&gt;

&lt;/div&gt;

&lt;!-- END CONTENT PLACEHOLDER MAIN --&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62371</link>

      <pubDateParsed>2012-02-06T11:36:09.883Z</pubDateParsed>

      <title>Report calls for clarification of knob and tube issue by insurers</title>

    </item>

    <item>

      <description>&lt;div class="editorialTxt"&gt;

&lt;div&gt;

&lt;p&gt;Every month, WinnipegREALTORS&amp;reg; &amp;nbsp;tracks the performance of the different property types that make up the MLS&amp;reg; system. Since residential-detached (commonly referred to as single-family) homes make up roughly three out of every four MLS&amp;reg; sales, it is understandable that more attention is placed on this common property type.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Even in the case of condominiums, which have experienced notable sales increases in recent years, their total MLS&amp;reg; share only represented 12 per cent of the market as of the end of July 2011. The proof of how condo sales have shown remarkable gains is that the 971 sales to-date are equal or better to all the condo sales in 2005 and the years previous.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;After condominiums, vacant lots are a distant third with 314 sales this year, which is four per cent of total MLS&amp;reg; sales. Vacant lots are followed by single-attached sales of 274. To round out the top-five property types, duplex sales of 133 are less than half of all&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;single-attached sales.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Of course, when we look at the different property types, we are also interested in seeing how average prices are relative to each type, as housing affordability becomes more of an issue in our local market. In the 2011 WinnipegREALTORS&amp;reg; spring membership survey, 68.4 per cent of the respondents said they feel housing affordability is becoming an issue in finding a home that buyers want.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The alternative to higher house prices is opening up your search criteria to include more affordable neighbourhoods, lowering your expectations on the exact house you want, or even considering a different property type. This is especially true for first-time buyers who do not have the equity build-up that existing homeowners possess. &amp;nbsp;&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Prospective buyers in our local housing market at least have alternatives to consider, while in other more expensive housing markets, options can be very limited, to nonexistent.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;What is starting to emerge this year and became more apparent in July is what was referred to in the WinnipegREALTORS&amp;reg; 2011 January forecast speech as a &amp;ldquo;flight to affordability.&amp;rdquo;&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;The Winnipeg Jets may be taking off too, but in the real estate market the alternative flight path and clearly more affordable offerings of condominiums and single-attached homes in contrast to residential or single-&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;family detached is as real as a Goog at the BDI,&amp;rdquo; said WinnipegREALTORS&amp;reg; president Ralph Fyfe.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;In July, condominium sales were up 23 per cent, while single-attached residential properties rose an astounding 76 per cent. As well, year-to-date numbers are impressive. The former are outpacing last year&amp;rsquo;s sales at this time by 10 per cent, while the latter, or single-attached, are up 16 per cent. Residential-detached property sales have increased less than three per cent for the year and just over one per cent for July.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The spread between the year-to-date residential-&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;detached average sale price of $256,000 and the average sale price of condominiums and single-attached is $54,000 and $63,000, respectively.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Not only are these two alternative property types more&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;affordable, the highest land transfer tax in the country &amp;mdash; at two per cent for purchaces over $200,000 &amp;mdash; does not apply at all, or very minimally, if a buyer pays the average price. For every $50,000 in value above $200,000, the provincial government collects $1,000 from the home buyer before they can take title to their new property.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;For buyers of residential-detached homes in the southwest and southeast quadrants of Winnipeg, where the average sale price this year is above $300,000, this means they are paying at least $2,000 more in land transfer taxes as a result of the two-per-cent land transfer tax rate. This is in addition to the $1,650 paid for a house priced at $200,000, plus another $75 to register the title at Manitoba Property Registry.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;WinnipegREALTORS&amp;reg; is calling on Manitobans at 2muchltt.com to tell the provincial government they need to reduce the unfair burden of the Manitoba land transfer tax on property buyers. Based on what would have been paid for an average priced home in 1987, when the tax was first introduced, and what is now paid to buy an average priced home, land transfer taxes have gone up tenfold.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The impact of the land transfer tax is more acute with first-time buyers. Every after-tax dollar they save is critical for their required down payment and closing costs, including the Manitoba land transfer tax.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Moreover, with Winnipeg and other Manitoba cities having the lowest rental vacancy rates in the country, would it not be desirable for the government to encourage renters to own their first home and thus free up badly needed rental units?&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;B.C. and Ontario have in place generous first-time home buyer land transfer tax exemptions. The two provinces clearly recognize how difficult it is for a first-time buyer to come up the necessary down payment and closing costs to acquire a home.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Let&amp;rsquo;s not forget about other home buyers, who may be purchasing their second or third home, and are absolutely stunned when faced with thousands of dollars in land transfer taxes.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Fortunately in our local market, there are other property types that enable home buyers to avoid being hit with the punitive two-per cent land transfer tax rate that kicks in on any home valued over $200,000.&lt;/p&gt;

&lt;/div&gt;

&lt;/div&gt;

&lt;!-- END CONTENT PLACEHOLDER MAIN --&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62304</link>

      <pubDateParsed>2012-02-06T11:36:09.883Z</pubDateParsed>

      <title>Adverse Effect of the Land Transfer Tax</title>

    </item>

    <item>

      <description>&lt;div class="editorialTxt"&gt;

&lt;div&gt;

&lt;p&gt;A hot July was accompanied by a heated-up MLS&amp;reg; housing market, according to WinnipegREALTORS&amp;reg;.&amp;nbsp;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;In July, MLS&amp;reg; sales rose by four per cent to 1,246 units, while dollar volume sales went up 10 per cent to $288.1 million, when compared to the same month last year.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Compared to the same period in 2010, year-to-date sales were up three per cent by the end of July to 7,906 units and dollar volume sales increased by eight per cent to $1.84 billion.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The average sale price for a residential detached home rose to $254,486, which is seven per cent higher than the average of $238,441 in July 2010.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;An improvement in new listings in July helped keep prices in check,&amp;rdquo; said Ralph Fyfe, the president of the WinnipegREALTORS&amp;reg;, &amp;ldquo;as the monthly average home price in July was still under the year-to-date average of $256,000.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Fyfe said home buyers in July had a little more breathing room as there were fewer above-list-price sales than in previous months,&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;There was a seven per cent increase in new listings in July when compared to the same month last year and an overall one per cent increase in year-to-date listings from 2010. At the end of July, there were 11,767 listings entered on MLS&amp;reg;.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;However, housing inventory still remains tight overall in a number of neighbourhoods,&amp;rdquo; Fyfe added. &amp;ldquo;So depending on the price and neighbourhood, multiple offers may still come into play.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;As a result, the best course is to seek the advice of a &amp;nbsp;REALTOR&amp;reg;.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Fyfe said condominium sales took off in July, increasing by 23 per cent, while single-attached residential properties rose by an &amp;ldquo;astounding&amp;rdquo; 76 per cent.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;He said that year-to-date condo sales at the end of July increased by 10 per cent and single-attached sales increased &amp;nbsp;by 16 per cent.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;The rise in condo and single-attached residences reflects the &amp;ldquo;flight to affordability,&amp;rdquo; said Fyfe, &amp;ldquo;as the average sale price of a condo and a single-attached residence for the first seven months of 2011 was just $54,000 and $63,000, respectively.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;Not only are these two alternative property types more affordable,&amp;rdquo; explained Fyfe, &amp;ldquo;but the highest land transfer tax (LTT) in the country at two per cent for a home sale over $200,000 does not apply &amp;mdash; or only minimally &amp;mdash; to such property types if they are sold at the average price range.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;For every $50,000 in value above $200,000, the provincial government collects $1,000 from the home buyer before they take title of their new property.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;In Winnipeg&amp;rsquo;s southwest and southeast, where the average sale price is above $300,000, home buyers typically pay at least $2,000 more in LTT.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;WinnipegREALTORS&amp;reg; is urging the public to visit the website 2muchltt.com to find out more about the LTT and its dire effects on the housing market.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;Peter Squire, the market analyst for WinnipegREALTORS&amp;reg;, said home prices remain affordable when compared to other Canadian centres, despite the increase in the local average price.&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;&amp;ldquo;We just don&amp;rsquo;t have the volatility of other markets,&amp;rdquo; he added. &amp;ldquo;In Calgary and Edmonton, prices can swing upward by 30 per cent in one year and downward 30 per cent the next year. In Winnipeg, the housing market is marked by more slow and steady growth.&amp;rdquo;&lt;/p&gt;

&lt;/div&gt;

&lt;div&gt;

&lt;p&gt;For residential-detached sales in July, the most active price range was between $200,000 to $249,999, accounting for 24 per cent of all MLS&amp;reg; sales. Next was the $250,000 to $299,999 price range at 19 per cent.&lt;/p&gt;

&lt;/div&gt;

&lt;/div&gt;

&lt;!-- END CONTENT PLACEHOLDER MAIN --&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62289</link>

      <pubDateParsed>2012-02-06T11:36:09.883Z</pubDateParsed>

      <title>MLS® housing market showed great strength last month</title>

    </item>

    <item>

      <description>When the MLS System was first introduced in Toronto over 50 years ago it was called the Photo Co-op system. When it started there were many board members who scoffed at the idea of sharing information with fellow Realtors in the city. Some brokers felt it was unfair to provide valuable listing information to other offices because they were the ones who had gone out, knocked on doors and worked hard to solicit the business in the first place. The idea of co-operating listings wouldn&amp;rsquo;t go away and eventually it became established. It grew to become the largest MLS in the country.

&lt;p&gt;The foundation of sharing listing information was based on what was best for the customer. Making all brokers across the city aware of a listing and actively participate in its marketing was good for the customer because it created an army of men and women who worked collectively to market and sell the listing.&amp;nbsp;&amp;nbsp;&lt;/p&gt;

&lt;p&gt;While the brokers involved in the listing and selling of a property would have to share the commission, the big winner would always be the customer. That was why the idea did not go away and was eventually accepted by all board members. It was irrefutable that the customer would win and that was what the MLS System was all about right from the start.&lt;/p&gt;

&lt;p&gt;The customer benefitted not only because TREB members were able to market the property all across the city but also because the brokers who belonged to the board operated under a strict code of ethics ensuring the same honourable conduct of the person representing their property all across the city.&lt;/p&gt;

&lt;p&gt;These two principals were the pillars of reason on which the foundation of MLS was built.&lt;/p&gt;

&lt;p&gt;Other licensed Realtors who did not belong to TREB were envious of the huge base of listings that TREB&amp;rsquo;s &amp;ldquo;club&amp;rdquo; of brokers was able to provide to members. They did not have access to those listings and the valued information they formed collectively. If they wanted that, they had to apply to join TREB. If they were accepted, agreed to pay the fees promptly and pledged to conduct their business under the code of ethics and strict guidelines of business conduct then, too could participate in MLS and gain access to all those listings.&lt;/p&gt;

&lt;p&gt;Many of them joined. But others did not. Some complained bitterly to government officials and the press that TREB members had formed a monopoly and controlled all the real estate listings in the city. They angrily pointed out that real estate brokers were being pressured into paying member fees in order to make a living because they had to join TREB if they wanted to be in business and they had to conduct themselves the way TREB dictated, in particular the way the MLS rules dictated. If any member declined to conduct their business in a manner outside of those rules, their membership was terminated and their access to MLS was cut off.&lt;/p&gt;

&lt;p&gt;TREB prevailed because it was always able to show that its system ensured that the customers of its members received the best service possible, delivered with exemplary business ethics. No one was being forced to join the board.&lt;/p&gt;

&lt;p&gt;From its development as a simple process of picture sharing through all technological changes over decades, the foundation of MLS has never changed. However the charges of exclusion from those who want information provided in a manner different than the way TREB makes it available have never ceased throughout the years.&lt;br /&gt;

&lt;br /&gt;

Today the Competition Bureau is acting for complainants in a dispute with TREB over this issue. My fear is that they may lose sight of the fact that the winner of this dispute should always be the customer.&lt;/p&gt;

&lt;p&gt;If that fact is lost, then so is MLS.&lt;/p&gt;

&lt;p&gt;&lt;em&gt;Heino Molls is publisher of REM.&lt;/em&gt;&lt;/p&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62249</link>

      <pubDateParsed>2012-02-06T11:36:09.883Z</pubDateParsed>

      <title>The foundation and future of MLS</title>

    </item>

    <item>

      <description>&lt;p&gt;OTTAWA - The wild financial market gyrations might keep you up at night but it's the economic darkness beneath the volatile trading that is the real monster under the bed, according to economists and the prime minister alike.&lt;/p&gt;

&lt;p&gt;European sovereign debt and the sluggish U.S. economic growth remain the main concerns, as the U.S. Federal Reserve said Tuesday that it will likely keep interest rates at record lows for the next two years. The move by the U.S. central bank came as it acknowledged the economy was weaker than it had thought and faces increasing risks.&lt;/p&gt;

&lt;p&gt;BMO deputy chief economist Doug Porter said the move by the Fed likely means the bank of Canada will likely keep its key overnight rate target at one per cent well into next year.&lt;/p&gt;

&lt;p&gt;Until the recent turmoil, Porter said he thought the Canadian central bank would start raising interest rates this fall with two quarter-point rate hikes by the end of the year.&lt;/p&gt;

&lt;p&gt;&amp;quot;In fact, because of the weakness in equities there has been some talk recently that there is even a remote possibility the Bank of Canada could cut rates in the coming weeks or months,&amp;quot; Porter said.&lt;/p&gt;

&lt;p&gt;&amp;quot;I still think that's a long shot, but at the very least events have conspired to keep the Bank of Canada on the sidelines for a lot longer than most had anticipated as recently as a few weeks ago.&amp;quot;&lt;/p&gt;

&lt;p&gt;Pension funds and individual investors alike have seen their holdings take a hit in the recent turmoil. Though the Toronto market bounced back 438.30 points to close at 12,109.26 on Tuesday, the market remains down about 15 per cent from its high for the year set in April.&lt;/p&gt;

&lt;p&gt;The move has wiped out billions in value for Canadians' investments and could undermine consumer confidence and spending if the downturn persists or gets even worse.&lt;/p&gt;

&lt;p&gt;Prime Minister Stephen Harper said Tuesday during a trip to Brazil where he's promoting trade that it is too easy to focus on the money being made or lost on the stock market.&lt;/p&gt;

&lt;p&gt;&amp;quot;What really matters is what we are doing here and that is focusing on mid-term and longer-term opportunities to create wealth, to create trade, to create enterprise, to create jobs.... That is what is really important.&amp;quot;&lt;/p&gt;

&lt;p&gt;Worries that the country's largest trading partner may slip back into recession follow a weak second quarter of growth in Canada due to slumps in mining and oil and gas production.&lt;/p&gt;

&lt;p&gt;TD Bank chief economist Craig Alexander said a crisis of confidence could result in the exact outcome that consumers and businesses are trying to avoid.&lt;/p&gt;

&lt;p&gt;&amp;quot;The question really is how much are consumers and businesses in the United States going to become convinced that economic times are deteriorating and as result they need to cut back,&amp;quot; he said.&lt;/p&gt;

&lt;p&gt;&amp;quot;Because the problem is that if consumer confidence weakens and consumers pull back their spending and at the same time businesses become less confident and they cut back from their hiring and spending you can actually cause the thing that you fear.&amp;quot;&lt;/p&gt;

&lt;p&gt;However Alexander noted the bounce back in the market Tuesday suggests at least some investors were optimistic.&lt;/p&gt;

&lt;p&gt;&amp;quot;The most positive thing that could happen right now is a bit of a breather, a bit of a reality check and a little bit more faith,&amp;quot; he said.&lt;/p&gt;

&lt;p&gt;Economist David Madani of Capital Economics predicted the Canadian economy will likely rebound in the third and fourth quarters, but said the recent turmoil raises some serious worries.&lt;/p&gt;

&lt;p&gt;&amp;quot;Give the severity of the moves that we've seen over the last few days, it is possible there are some downside risks to our near-term economic outlook,&amp;quot; he said.&lt;/p&gt;

&lt;p&gt;&amp;quot;If there is a negative shock on household confidence then it could lead to some weaker spending.&amp;quot;&lt;/p&gt;

&lt;p&gt;Madani said he will be closely watching retail sales for signs of weakness and how Canadian exports hold up amid the disappointing U.S. growth.&lt;/p&gt;

&lt;p&gt;&amp;quot;And to some extent we'll also be looking at some of the housing indicators,&amp;quot; he said.&lt;/p&gt;

&lt;p&gt;OTTAWA - The wild financial market gyrations might keep you up at night but it's the economic darkness beneath the volatile trading that is the real monster under the bed, according to economists and the prime minister alike.&lt;/p&gt;

&lt;p&gt;European sovereign debt and the sluggish U.S. economic growth remain the main concerns, as the U.S. Federal Reserve said Tuesday that it will likely keep interest rates at record lows for the next two years. The move by the U.S. central bank came as it acknowledged the economy was weaker than it had thought and faces increasing risks.&lt;/p&gt;

&lt;p&gt;BMO deputy chief economist Doug Porter said the move by the Fed likely means the bank of Canada will likely keep its key overnight rate target at one per cent well into next year.&lt;/p&gt;

&lt;p&gt;Until the recent turmoil, Porter said he thought the Canadian central bank would start raising interest rates this fall with two quarter-point rate hikes by the end of the year.&lt;/p&gt;

&lt;p&gt;&amp;quot;In fact, because of the weakness in equities there has been some talk recently that there is even a remote possibility the Bank of Canada could cut rates in the coming weeks or months,&amp;quot; Porter said.&lt;/p&gt;

&lt;p&gt;&amp;quot;I still think that's a long shot, but at the very least events have conspired to keep the Bank of Canada on the sidelines for a lot longer than most had anticipated as recently as a few weeks ago.&amp;quot;&lt;/p&gt;

&lt;p&gt;Pension funds and individual investors alike have seen their holdings take a hit in the recent turmoil. Though the Toronto market bounced back 438.30 points to close at 12,109.26 on Tuesday, the market remains down about 15 per cent from its high for the year set in April.&lt;/p&gt;

&lt;p&gt;The move has wiped out billions in value for Canadians' investments and could undermine consumer confidence and spending if the downturn persists or gets even worse.&lt;/p&gt;

&lt;p&gt;Prime Minister Stephen Harper said Tuesday during a trip to Brazil where he's promoting trade that it is too easy to focus on the money being made or lost on the stock market.&lt;/p&gt;

&lt;p&gt;&amp;quot;What really matters is what we are doing here and that is focusing on mid-term and longer-term opportunities to create wealth, to create trade, to create enterprise, to create jobs.... That is what is really important.&amp;quot;&lt;/p&gt;

&lt;p&gt;Worries that the country's largest trading partner may slip back into recession follow a weak second quarter of growth in Canada due to slumps in mining and oil and gas production.&lt;/p&gt;

&lt;p&gt;TD Bank chief economist Craig Alexander said a crisis of confidence could result in the exact outcome that consumers and businesses are trying to avoid.&lt;/p&gt;

&lt;p&gt;&amp;quot;The question really is how much are consumers and businesses in the United States going to become convinced that economic times are deteriorating and as result they need to cut back,&amp;quot; he said.&lt;/p&gt;

&lt;p&gt;&amp;quot;Because the problem is that if consumer confidence weakens and consumers pull back their spending and at the same time businesses become less confident and they cut back from their hiring and spending you can actually cause the thing that you fear.&amp;quot;&lt;/p&gt;

&lt;p&gt;However Alexander noted the bounce back in the market Tuesday suggests at least some investors were optimistic.&lt;/p&gt;

&lt;p&gt;&amp;quot;The most positive thing that could happen right now is a bit of a breather, a bit of a reality check and a little bit more faith,&amp;quot; he said.&lt;/p&gt;

&lt;p&gt;Economist David Madani of Capital Economics predicted the Canadian economy will likely rebound in the third and fourth quarters, but said the recent turmoil raises some serious worries.&lt;/p&gt;

&lt;p&gt;&amp;quot;Give the severity of the moves that we've seen over the last few days, it is possible there are some downside risks to our near-term economic outlook,&amp;quot; he said.&lt;/p&gt;

&lt;p&gt;&amp;quot;If there is a negative shock on household confidence then it could lead to some weaker spending.&amp;quot;&lt;/p&gt;

&lt;p&gt;Madani said he will be closely watching retail sales for signs of weakness and how Canadian exports hold up amid the disappointing U.S. growth.&lt;/p&gt;

&lt;p&gt;&amp;quot;And to some extent we'll also be looking at some of the housing indicators,&amp;quot; he said.&lt;/p&gt;</description>

      <link>http://www.randyleopold.com/blog.page?ArticleID=62244</link>

      <pubDateParsed>2012-02-06T11:36:09.883Z</pubDateParsed>

      <title>Markets bounce back, but underlying concerns for Canadian economy persist</title>

    </item>

    <lastBuildDate>2/6/2012 6:36:09 AM</lastBuildDate>

    <link>http://www.randyleopold.com/</link>

    <title>Winnipeg Real Estate, Remax, Re/Max, Houses for sale, Market Evaluation, Manitoba, Buying, Selling, Randy Leopold</title>

    <pubDate>2/6/2012 6:36:09 AM</pubDate>

    <webMaster>randyleopold@gmail.com</webMaster>

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