One Good Earth Blog

Third Quarter Montreal Market Stats 2017

Feature photo by Alexey Shikov

Third Quarter Montreal Market Stats 2017

Third Quarter Montreal Market Stats 2017 according to the Barometer report produced by the QFREB:

  • Sales were up +9% and the highest number of third quarter sales sinces 2009
  • Condominiums sales set a record registering the largest sales increase of +18%
  • Sales of single family homes were up +5% and plexes +8%
  • Sales growth across the Island of Montreal was up +12%
  • Across the CMA prices for single family homes increased by +5% and +2% for condominiums on the Island of Mtl
  • The supply of listings in general fell  by – 14% overall. That of single family homes -18% and condos -9%
  • For single family homes this was the lowest number of houses for sale in ten years

Conclusion: This is clearly a sellers market for single family homes and plexes in most of the Montreal CMA. The condo market is more balanced. The large increase in sales and lowering of inventory is seeing the market tighten.

For the full report, download it here:

Climate Change And Real Estate

Climate Change And Real Estate

Climate change and real estate are intertwined. According to  Mika Tosca, a climate scientist at NASA JPL (Jet Propulsion Laboratory) and a faculty member at the School of the Art Institute of Chicago, during her talk at Inman Luxury Connect in Los Angeles, ““We’re likely to see rising sea levels threatening coastal development,” Tosca said. “A huge proportion of the United States and global population lives within five miles of the coast.”

Sea level is expected to rise at least three feet by the end of the century. Especially at risk are properties  within three feet or fewer above sea level in areas of  California, Louisiana, Florida, New York and New York City.  In fact a recent Zillow report showed that if sea levels rose by six feet,  nearly 1.9 million homes across the U.S., including some 33,000 homes in Miami and nearly 32,000 in New York City, would be underwater.

The rising temperatures in places like California haven’t helped the wildfire situation. Seeing the destruction left in the wake of this fire season left me in disbelief. It’s devastating to see what’s happened to so many people and businesses. Is this what we can expect more of in the future?

fire devastion in California

Image of NorCal fire devastation. Credit: California National Guard/Flickr/CC-by-2.0 and via Inman News

Tosca explained the global warming process “whereby carbon dioxide, a greenhouse gas released by burning common fossil fuels like coal and gasoline, traps radiation from the sun in Earth’s atmosphere, warming the global temperature — about 2.2º F or 1.8º C over the last approximately 250 years, according to recent data. And the Earth is poised to warm further still, another 1 to 6ºC (1.8 to 10.8ºF) by 2100, according to projections.”

Thankfully, the presentation was not all doom and gloom as Tosca reminded the audience that lots can be accomplished if the population and governments come together to do big things and mitigate climate change. She cited the example of the Montreal Protocol of 1987, an international treaty designed to protect the ozone layer by phasing out the production of numerous substances that are responsible for ozone depletion. The ozone treaties have were ratified by 197 parties, which includes 196 states and the European Union,making them the first universally ratified treaties in United Nations history.

Necessity really can be the mother of invention!

NASA Releases Detailed Global Climate Change Projections

NASA Releases Detailed Global Climate Change Projections

NASA has released data showing how temperature and rainfall patterns worldwide may change through the year 2100 because of growing concentrations of greenhouse gases in Earth’s atmosphere.

July 2017 equaled record July 2016 – Climate Change: Vital Signs of the Planet

July 2017 was statistically tied with July 2016 as the warmest July in the 137 years of modern record-keeping, according to a monthly analysis of global temperatures by scientists at NASA’s Goddard Institute for Space Studies (GISS) in New York. Last month was about 0.83 degrees Celsius warmer than the mean July temperature of the 1951-1980 period.

NASA scientists seek to improve sea ice predictions – Climate Change: Vital Signs of the Planet

Arctic sea ice is in a downward spiral, but predicting how the sea ice is going to behave in a particular year is tricky. NASA scientists are working to change that and, in the process, fine-tune computer models that represent connections among the ice, atmosphere and ocean.

 

 

The Rise of Single Person Households In Canada And The U.S.

The Rise of Single Person Households In Canada And The U.S.

The Rise of Single Person Households In Canada And The U.S. and what it all means. The latest stats Canada from 2016 shows that single-person households, same-sex marriage, language diversity and bilingualism are on the rise.

 

demographics of single person households

 

Chart Via The Globe and Mail, SOURCE: STATISTICS CANADA, 2016 CENSUS

For the first time in the Canada’s history, the number of one-person households has surpassed all other types of living situations. They accounted for 28.2 per cent of all households last year, more than the percentage of couples with children, couples without children, single-parent families, multiple family households and all other combinations of people living together.

Chart Via The Globe and Mail, SOURCE: STATISTICS CANADA, 2016 CENSUS

percentage of people who live alone by district in 2016The circle on the map represents 42 of the top 50 places where people live alone are in Quebec.

Charts Via The Globe and Mail, SOURCE: STATISTICS CANADA, 2016 CENSUS

Part of the rising demographic of single person households is due to the fact that “A lot of women now have the economic means to afford to live on their own,” says Dr. Mitchell, a professor of sociology and gerontology at Simon Fraser University in British Columbia. She also says that many senior women want to have a home to themselves after a lifetime of taking care of other people.

The stats demonstrate that the percentage of one-person households has quadrupled since the middle of the 20th century as the country became increasingly urbanized and large rural families were no longer the norm. In 2016, nearly 14 per cent of all Canadians over the age of 15 lived alone, compared with 1.8 per cent in 1951

While the family dynamics of Canadians are changing and  married couples still account for the majority of unions, more than a fifth of Canadian couples lived in a common-law situation in 2016 – up from just 6.3 per cent in 1981. Statistics Canada attributes the rise to a combination of factors such as an increase of women in the work force, higher separation and divorce rates, and longer life expectancies.
The arrival of large numbers of immigrants from countries where grandparents, parents and children traditionally live in the same home made multigenerational households the fastest growing type of household between 2001 and 2016.

who are children living with in private householdsTwo biological or adoptive parents – first column
One parent in a lone-parent family – second column
One biological or adoptive parent and one step-parent – third column
Not living with their parents – fourth column

In 2016, more than a million Canadian children – about two in every 10 – lived in a single-parent family. An intersting statistic is that the proportion of children who were living with their father climbed by 34.5 per cent between 2001 and 2016, while the proportion who were living with their mother increased by just 4.8 per cent.

Household types in CanadaChart Via The Globe and Mail, SOURCE: STATISTICS CANADA, 2016 CENSUS

The number of people who get their own place when they reach their 20s is decreasing and, in 2016, more than a third of Canadians between the ages of 20 and 34 lived with at least one parent. The percentage of young adults living with their own children declined to 25.5 per cent in 2016 from 32.9 per cent in 2001.

There were 72,880 same-sex couples in Canada in 2016, which accounted for less than 1 per cent of all couples. But, between 2006 and 2016, that increased by 60.7 per cent, compared with an increase of just 9.6 per cent for heterosexual unions.

Language diversity is also on the rise, in fact Mandarin and Cantonese remained the most common non-official languages spoken in Canadian homes last year. But, for the second consecutive census period, Tagalog (the language of the Philippines) was the fastest growing with the number of people who speak it rising by 35 per cent between 2011 and 2016. The number of Arabic speakers climbed by 30 per cent during the same period, while Farsi speakers rose by 26.7 per cent, Hindi speakers were up by 26.1 per cent and Urdu speakers were up 25 per cent. More Canadians say they are bilingual than at any point in Canadian history as the stats show that between 2011 and 2016, the English-French bilingualism rate rose to 18 per cent from 17.5 per cent, though the majority of bilingual people say French is their mother tongue.

Another Interesting Stats Map that correlates where you grew up in Canada to your income mobility as an adult

Low Mobility to High Mobility   ♦ 

 According to the Euromonitor International’s Projections;

Single-person households will become a major consumption group

“Households populated by one person are skyrocketing around the world. Over 2016–2030, single-person households will see faster growth than any other household type globally, with around 120 million new single person homes to be added over the period. This demographic is being driven by younger singles exchanging relationships for careers and education, as well as the growing widowed and divorced elderly group, especially large in developed countries.” The chart below is their projection until 2030.

Chart Via Euromonitor International

single-person-household Why are increasing numbers of people all over the world living alone?

According to a recent book by Eric Klinenberg: Explaining the Rise of Solo Living, this is a global phenomenon and mainly reflects the increasing degree of individual choice that comes with increasing wealth. In 2013

29% of UK Households were single person households.  Most people who live alone are 65+ and increasing numbers of those aged 45-60 are living alone. However, the numbers of younger people living alone are declining
Read more here about Eric Klinenberg’s research on sociology trends.

Montreal Home Sales Hit Eight Year High In September

Feature photo by Alberto Castillo

Montreal Home Sales Hit Eight Year High In September

Montreal home sales hit eight year high in September with four of the area’s five metropolitan areas sustained growth, led by a 17-per-cent jump in sales in Laval.

The Greater Montreal Real Estate Board (GMREB) says 2,893 residential sales were completed last month, a six-per-cent increase from a year ago.  Sales on the island of Montreal, which accounted for 43 per cent of all area sales, were up five per cent.  Condominiums continued to drive sales volume, rising 11 per cent while sales times were down.

According to Mathieu Cousineau, GMREB president, the condo market has returned to a balanced market with 10 months of inventories.

“For a little more than four years, there was a surplus of condominiums on the resale market and inventory had reached a new peak of 15 months exactly two years ago. The turnaround has therefore been quite impressive,” he said in a news release.

Sales of buildings with two to five units were up 23 per cent while sales of single family home dipped 1% lower for the first time in five months.

Canada’s second-largest city remains a real-estate bargain as the average price of homes grew 2.6 per cent to $364,862. That compared to $775,546 in Greater Toronto, also up 2.6 per cent from the prior year, according to the Toronto Real Estate Board.

Montreal’s growth, is being spurred by three major factors — more job opportunities and record-low unemployment in the city, increased consumer confidence, and fewer people leaving the city. That trend is expected to continue in the next coming months. Montreal remains an affordable housing market — at least compared with Toronto and Vancouver, where housing prices are roughly two and three times what they are here. With increased demand and tighter supply, our Montreal market remains a seller’s market — at least for now.

 

Montreal’s Renaissance As A Business And Luxury Center Of Canada

Feature photo by ©Bonnie Meisels

Montreal’s Renaissance As A Business And Luxury Center Of Canada

Montreal’s renaissance as a business and luxury center of Canada is referenced in the recent New York Times article “A Luxury Building Boom Hits Montreal” by Aili McConnon. One can’t help notice the transforming downtown core with all the construction cranes and new development projects underway.  “The largest of the developments is the new Four Seasons Hotel and Private Residences Montreal, a more than $200 million hotel and condo project that highlights the city’s renaissance as a business and luxury center of Canada. This current revitalization of the Golden Square Mile mirrors the larger comeback of Montreal.”

For many years, and much political instability, Montreal paid a great price as many companies and talented people migrated to other Canadian cities like Toronto and Vancouver. But, over the past few years, as Montreal has returned to political stability, businesses have begun to return.

Montreal As A World Leader In Artificial Intelligence

Montreal has become a hub for technology. In fact Montreal now has a reputation for being one of the world’s emerging AI advanced research centres and top talent pools in the suddenly very hot tech trend. Facebook just announced it is creating an artificial intelligence research lab in Montreal, and last fall Google said that it would open a similar facility there.

Read more about Montreal and AI

Facebook follows Google, Microsoft to Montreal with new AI research lab | The Star

MONTREAL-Facebook has become the latest technology company to dig into Montreal’s burgeoning artificial intelligence sector, announcing the opening of a research lab in the city Friday. The lab, known as FAIR Montreal, is headed by Joelle Pineau, a professor in McGill University’s computer science department and co-director of Reasoning and Learning Lab.

“The stable political environment in Montreal these last years, especially when we take into consideration the more unstable global environment created by Brexit and other elections in Europe, has made Montreal more attractive to business and leisure visitors,” said Denis Coderre, Montreal’s mayor

“The Montreal economy is booming,” Mr. Coderre said, adding that the unemployment rate had reached one of its lowest levels since 2010, the labor force was growing and investments were increasing. New taxes on foreign investors in Toronto and Vancouver also appear to have played a part.”

There are big plans for Montreal’s Four Seasons Hotel. The project includes a 166-room hotel and 18 condos priced from nearly $3 million to over $12 million. The location of the hotel will be directly connected to the 250,000 square foot-luxury Ogilvy/Holt Renfrew department store. The condos, which went on sale this June and range from 2,886 to 6,910 square feet. The largest penthouse includes a home gym and 2,060-square foot terrace with a fire pit and the option of a pool. According to J. Allen Smith, the Four Seasons chief executive: aside from business, the city of Montreal has “cultural sophistication, European influences and storied history.”

Another hotel in the downtown core, the Fairmont Queen Elizabeth Hotel just reopened its doors this summer after a $114 million renovation.

With a recent surge of visitors, Montreal is on track to hit 11.2 million tourists by the end of 2017, up 20 percent from 2013, according to the Conference Board of Canada and Tourisme Montreal.

Read the New York Times article here

A Luxury Building Boom Hits Montreal

Square Feet Along the main shopping street in the area of downtown Montreal known as the Golden Square Mile, Sonya Szczygiel and her husband, John Guinto, have sold beaded bracelets made of semiprecious stones for the last five years.

Montreal Is A Rising Star In The Luxury Real Estate Market

Feature photo by Jason Briscoe

Montreal Is A Rising Star In The Luxury Real Estate Market

Montreal is a rising star in the luxury real estate market, according to Sotheby’s International Realty Canada, which just published their forecast for the 2017 Fall Market. The luxury market in Montreal is poised for continued growth as sales increase and prices increasingly reach the 1 Million plus range. Summer sales of properties of one million and over surged 60%, while the city’s luxury condo sales increased by 40% over the same period last year.

Brad Henderson, President and CEO of Sotheby’s International Realty Canada is optimistic:

“The country’s exceptional economic performance is expected to elevate top-tier real estate market confidence and performance this fall. Montreal, in particular, is emerging as an unexpected bright light on Canada’s luxury real estate horizon, but the reality is that improvement in economic productivity, wages and job gains will be positive for all of our metropolitan markets in the coming months”.

Market projection for the rest of the year:

Montreal’s top tiered real estate market is competitive and offers much value compared to markets in other major Canadian city centres,  which is why Montreal’s luxury real estate market is projected to accelerate to the end of the year

        The markets strength is attributed to these four key influences:

  • Strong Canadian economy. The economy is at its fastest annualized rate in 6 years between March and June
  • Falling national unemployment rates and job gains in the country’s major real estate markets. Canada’s unemployment rate dropped to 6.2% in August 2017,
  • Foreign demand for Canada’s top-tier real estate remains high, despite the strengthening CAD, which was around 80 cents to the USD in September 2017.
  • Two consecutive key interest rate hikes by the Bank of Canada – in July and September, positioned the key interest rate at 1.00% leading down 

Read the full report here

First Organic Rooftop Farm Atop IGA Duchemin

First Organic Rooftop Farm Atop IGA Duchemin

The first organic rooftop farm atop IGA Duchemin is the largest and first grocery store in Canada to sell produce grown on its own roof. Store owners Richard, Daniel, and Francis Duchemin own and run the IGA extra Famille Duchemin store located in the borough of Saint-Laurent. Required by St-Laurent to install a green roof, Richard Duchemin, decided to treat that as an opportunity, instead of a constraint. He teamed up with urban farmers from La ligne verte (Green Line: Green Roof) to make the vision of an urban farm project a reality.

I recently had the pleasure to meet Daniel Duchemin at the Famille Duchemin store. He kindly, gave me a brief tour of the rooftop garden. I found the store itself not only extensive and beautiful, but it also happens to be LEED Gold Certified. The rooftop gardens exceeded my expectations. Over 30 different varieties of organic vegetables are being grown atop this 25000 sq ft roof. Amidst the Arugula, eggplant, lettuce and peppers, views of urban homes and condos rise above the horizon plane. The juxtaposition of the concrete and brick buildings alongside the sea of green, quickly reminds us that we’re in the city, and above a supermarket!

The beautiful thing about this operation, is that it’s vertical and sustainable. The store can offer it’s customers the best quality, and freshest produce. This is a great example of a local, urban, farm to table system! Without the need for trucks or fossil fuels for transport the only real footprints here are the ones that lead from the stairs between the roof to the store. The green roof reduces energy consumption by providing an extra layer of insulation and the plants are irrigated with water collected from the store’s dehumidification system. They even have seven bee hives on the roof, managed by urban beekeepers Alvéole, and the honey will be sold in-store.

I hope that this store will serve as an inspiration to other local grocery stores to follow suit. All I know for sure is that we need to build alternative sustainable food systems along side our traditional ones, sooner, rather than later!

Here’s a link to the store’s location and map

Alveole managed bee hives

Learn more about The Alvéole Bee Project

 

Cool Home Repair Videos

Featured Photo by Jesse Orrico

Cool Home Repair Videos And Other Stuff

Cool home repair videos and some others that I thought you’d like! If you’re like me, you prefer to watch a video to better understand how to do stuff. Here are a few videos that you might find interesting.

37 TOTALLY BRILLIANT HOME REPAIR TRICKS

Subscribe to 5-Minute Crafts: https://www.goo.gl/8JVmuC For copyright matters please contact us at: welcome@brightside.me —————————————————————————————- Our Social Media: Facebook: https://www.facebook.com/5min.crafts/ Instagram: https://www.instagram.com/5.min.crafts/ The Bright Side of Youtube: https://goo.gl/rQTJZz —————————————————————————————- For more videos and articles visit: http://www.brightside.me/ Music: 1. Cool Rock – Take the Lead by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100279 Artist: http://incompetech.com/ 2.

Be inspired by this compilation of beautiful homes from around the world;

The Most Beautiful Houses in the World HD

Let us take you on a trip around the World. Take a deep breath and enjoy the most beautiful houses around the world.

And Some Other Fun Stuff:

100 Cool Ideas! BED’S!

100 Cool Ideas! ..Beds Edition! Would you like to make money? Have you heard about Bitcoin and Cryptocurreny in general? What is Bitcoin? Click here https://goo.gl/5DjQZ What is Cryptocurrency? Click here https://goo.gl/V8DhB0 League table of Cryptocurrency – Click here https://goo.gl/jp1HMl Compare website for everything Cryptocurrency – Click here https://goo.gl/yzXflF Lending Bitcoin to earn daily interest Bitconnect (Lending Platform) – Click here https://goo.gl/wdyycn Where to buy Bitcoin / Ethereum / Litecoin?

How I Made My Sliding Barn Door | Rustic Modern

I made this barn door to solve a problem in my bedroom. This door is very unique to my space. I made this sliding door because I have a glass door in my bedroom. We were lacking privacy, I installed tint on the window but at night that’s no good.

YouTube

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Check out this website for more do it yourself, handyman tips: https://www.familyhandyman.com/skills

For some fast fixes: http://www.diynetwork.com/how-to/maintenance-and-repair/repairing/simple-home-repairs

Another site for do it yourself projects for home improvement stuff is http://www.homeimprovementstuff.com/

 

 

 

 

Canada’s Rising Interest Rates

Canada’s Rising Interest Rates

Canada’s rising interest rates come after a prolonged period of extremely low rates.  According to an article on The Financial Post;

“Dana Peterson, Citi Research

The BoC hiked today catching markets off guard, once again … The stronger-than-expected Canadian economic performance largely influenced the decision to hike.
The Bank cautioned that while the “removal of some of the considerable monetary policy stimulus in place [was] warranted,” policy is not on a predetermined course. Nonetheless, we believe the action sends a powerful signal to markets that the Bank is likely initiating a tightening cycle, not simply engaging in oil shock “insurance” removal.
We must reassess our interest rate forecast path, but assume that an October hike is possible if the favorable conditions that supported the last two hikes persist and downside risks are not realized. Fed policy decisions will also factor into the Canadian rates path.” Real the full article here: http://business.financialpost.com/news/economy/three-rate-hikes-this-year-economists-ramp-up-tightening-forecasts-after-bank-of-canada-statement

Bank of Canada raises interest rate to 1% – and that’s not the end of it, economists say

The Bank of Canada raised its key interest rate by another quarter of a percentage point, up to 1 per cent from 0.75 per cent, on Wednesday. The decision, which follows a first hike in July, could be just the second in a string of rate increases to come, some economists predicted in light of the announcement.

 

Canada Rate Increase September 2017

On September 6th 2017, the Bank of Canada increased their lending rate by 0.25%, from 0.75% to 1%. This increase means the Canadian banks and financial institutions will increase their prime rate, and this means…higher lending rates on mortgages, line of credits, and student debt.

Canada’s Rising Interest Rates And The Outlook For 2018:

Rate hike: Will Bank of Canada now pause until 2018?

The Conference Board of Canada’s Craig Alexander discusses the rate hike and why there may not be another increase this year.

Good News! Montreal Real Estate Trends August & September 2017

Montreal Real Estate Trends August And September 2017

Montreal real estate trends August and September 2017 – The numbers are looking good! Download the latest Montreal real estate trends for August and September 2017, via the QFREB, RBC, BMO, Quebec Stats

The Latest Economic Stats for Quebec

BMO Economic Forcast September 8th 2017

RBC Provincial Trends September 2017

RBC Canadian City Trends

On the Quebec Economy;

“Last month, Standard & Poor’s announced that it was raising Quebec’s credit rating from A-plus, to AA-minus, the highest rating the province has enjoyed since 1993, and again, better than Ontario’s.”

https://nationalpost.com/news/canada/from-the-doghouse-to-a-powerhouse-quebecs-economy-has-rebounded

 

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