The Government of Canada, the Government of Ontario, and the County of Wellington celebrated the grand opening of 55 affordable rental units. The project is supported by more than $3.8 million in funding through the Canada – Ontario Affordable Housing Program.

The Honourable Michael Chong, Member of Parliament for Wellington – Halton Hills, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), and John Wilkinson, Member of Provincial Parliament for Perth – Wellington, on behalf of Jim Bradley, Ontario’s Minister of Municipal Affairs and Housing, along with Joanne Ross-Zuj, County of Wellington Warden made the announcement.

“Our Government is dedicated to giving a hand-up to those in need, which is why we are proud to have invested in this project in Fergus,” said MP Michael Chong. “These 55 units are more than just safe and affordable places to live. They are the key to a better life for the families and individual that will call them home.”

“The province of Ontario is committed to helping people who live on lower or fixed incomes stay in their home communities,” said MPP John Wilkinson. “These 55 new affordable accessible rental units are going to make a positive difference in the lives of these individuals and families. The construction is part of our Open Ontario plan to create jobs and economic opportunities in the County of Wellington.”

“The County of Wellington is dedicated to helping all of our residents find a comfortable and safe place to call home,” said Warden Joanne Ross-Zuj. “Ownership of Fergusson Place by the County ensures that long-term quality, affordable housing will be available to residents needing assistance. Through construction projects like these, the County continues to create jobs and stimulate our local economy.”

Fergusson Place, a 55-unit project located at 165 Gordon Street in Fergus, Wellington County, received more than $3.8 million through the Canada – Ontario Affordable Housing Program. The building is occupied by persons with special needs, singles and families. The federal and provincial funding is complemented by $5.7 million in municipal capital funding.

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

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

In 2009, Ontario allocated a combined federal and provincial investment of $704 million for the renovation of social housing, and $540 million for the construction of new affordable housing. This investment is part of the Open Ontario plan, and will generate an estimated 23,000 jobs over the course of the program, while strengthening local economies across the province. To date, Ontario has approved more than $465 million for construction-ready projects, which will provide affordable housing for low-income families, senior citizens, and persons with disabilities, and $351.9 million for repairs benefiting some 148,000 social housing units.

The Government of Canada announced today that a housing co-operative located in British Columbia will receive more than $54,000, through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

“Through Canada’s Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth,” said the Honourable Stockwell Day, President of the Treasury Board and Minister for the Asia-Pacific Gateway, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create local jobs.”

The Government of Canada, through Canada’s Economic Action Plan, announced $1 billion for social housing renovation and retrofit.  Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

The Phoenix Court Co-operativewill be using the contribution from the Government of Canada to complete disability modifications, and to replace baseboard heaters and appliances.

“We congratulate and thank the federal government and Minister Finley for making a sound investment to help ensure that this affordable community is preserved as a legacy for the long-term benefit of its residents, “said Ken Elliott, President of the Co-operative Housing Federation of Canada. “Today’s announcement is an excellent example of stimulus funding that works towards preserving jobs, assisting the local economy, and protecting valuable affordable housing assets for Canadians.”

The Government of Canada announced today that four housing co-operatives located in Roberval – Lac-Saint-Jean will receive more that $362,000 through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made today by the Honourable Denis Lebel, Minister of State (Economic Development Agency of Canada for the Regions of Quebec), on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). This contribution is part of the more than $22 million federal investment, announced earlier today by Minister Finley, for the renovation and retrofit of housing projects across Québec.

“Through Canada’s Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth,” said Minister Lebel. “Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create local jobs.”

The Government of Canada, through Canada’s Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

The Government of Canada announced today that five housing co-operatives and non-profit organizations located in Montmagny – L’Islet-Kamouraska – Rivière-du-Loup will receive more that $160,000, through Canada’s Economic Action Plan, as part of the social housing renovation and retrofit investments.

The announcement was made today by Bernard Généreux, Member of Parliament for Montmagny – L’Islet-Kamouraska – Rivière-du-Loup, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). This contribution is part of the more than $22 million federal investment, announced earlier today by Minister Finley, for the renovation and retrofit of housing projects across Québec.

“Through Canada’s Economic Action Plan, our government is taking action to help ensure our economic recovery and create the conditions for long-term growth,” said MP Généreux. “Funding renovation and retrofit projects, like this one, will not only improve the quality of life of its residents by keeping their homes safe and affordable, but it will also help stimulate the local economy and create local jobs.”

The Government of Canada, through Canada’s Economic Action Plan, announced $1 billion for social housing renovation and retrofit. Of the $1 billion, $850 million is being delivered by provinces and territories on a cost-matched basis for existing federally assisted social housing projects which they administer on behalf of the partnership. The remaining $150 million is being delivered by CMHC for existing federally assisted off-reserve housing which it directly administers. Eligible repairs include general improvements, energy efficiency upgrades or conversions, and modifications in support of persons with disabilities.

The vacancy rate for private rental apartment buildings with three or more units in the St. Catharines- Niagara CMA (hereinafter Niagara) was above the national and historical averages. According to the CMHC’s Fall 2009 Rental Market Survey, the vacancy rate edged up to 4.4 per cent in 2009. This was above the 20-year average level of 3.5 per cent, and an increase of 0.1 percentage point from last year. Four main factors placed upward pressure on the vacancy rate. First, record low mortgage rates in combination with lower prices in the earlier part of the year translated into very affordable mortgage carrying costs. Many buyers, in particular first- time buyers, took advantage and moved out of rental accommodation and into home ownership. A comparison of average rents and mortgage carrying costs based on the mortgage terms chosen by most first-time buyers (i.e., maximum amortization period and the minimum down payment allowed) suggests that the gap between the two narrowed by more than 50 per cent in the first quarter of 2009.

Also, youth aged 15 to 24 are a key source of rental demand. Weaker employment among youth in this age group meant that some of them, after losing their jobs, moved back into their parents’ homes, or alternatively, postponed a decision to move out. Total employment for all age groups declined by around 11,000 people or 5.6 per cent when comparing the average level in the 12 months ending September 2009 to average level in the same period a year earlier.Youth employment declined by 4,500 people or 14 per cent, of which 2,900 in full- time positions and the rest in part- time jobs.

Finally, there were fewer international immigrants in 2009, due to the global economic slowdown. Since they traditionally tend to rent after landing in Canada, this implies that rental demand in 2009 was not as strong as in the previous years. Many international migrants find it difficult to settle in the region and land a job. Instead, they prefer to settle in major centres, such as the Greater Toronto Area, where they are more likely to find their first job and where there are established social networks.

Repairs will include the replacement of windows and balconies, installation of energy efficient lights and carbon monoxide sensors and the replacement of appliances in the following buildings:

* Les Centres d’Accueil Heritage at 33 Hahn Place, $1.1 million.
* Toronto Community Housing Corporation at 30 and 40 Teesdale Place, $2 million.
* Mimico Co-op at 1 Summerhill Road, $403,300.

The $3.5 million investment is part of a notional allocation of more than $220 million for the City of Toronto to repair and retrofit existing local social housing units over the next two years.

The funding was made available as a result of a $1.2 billion joint investment under the amended Canada – Ontario Affordable Housing Program Agreement, which includes funding through Canada’s Economic Action Plan and by the Government of Ontario. The federal and provincial governments are contributing equally to this overall investment.

Lois Brown, Member of Parliament for Newmarket – Aurora, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) and George Smitherman, Minister of Energy and Infrastructure and Member of Provincial Parliament for Toronto Centre, on behalf of the Honourable Jim Watson, Ontario Minister of Municipal Affairs and Housing, made the announcement today.

“This funding will improve the quality of life for residents by upgrading their homes and keeping them affordable,” said MP Brown. “These investments also benefit our communities by creating jobs and supporting the local economy.”

“These repairs are another step towards improving social housing in Toronto,” said MPP Smitherman. “This new funding will help ensure that people living in social housing have a safe and reliable place to live. Ontarians deserve nothing less.”

“This is very good news for the City of Toronto and is in keeping with our efforts to create a city that is liveable and prosperous for all residents,” said Toronto Mayor David Miller. “Through Council’s Housing Opportunities Toronto Action Plan, we will continue to work with Provincial and Federal partners in order to continue to upgrade and improve housing in the city.”

Ontario is moving quickly to invest a total of $704 million to repair eligible social housing across the province. In an effort to get shovels in the ground quickly, projects must be committed by the end of the fiscal years 2010 and 2011.

My problem is as follows: I am an immigrant who has been in Canada for 6-7yrs and have no RRSP room to speak of, and can only count on a small CPP. All my savings and investments are in a non-registered account.

My allocation if I include property is about 60/40 FI/Equities.

Inflation is certainly a hot topic for many investors since every pundit in the media has an opinion of where inflation will appear and to what degree of severity with hyperinflation being a term that’s been thrown around far too loosely as governments attempt to stimulate economies.

Any conservative investor, regardless of risk or investment style, needs to concern themselves with inflation in all market conditions because inflation affects the real value of your investments. If your investment portfolio returned 4% after costs last year and the inflation rate was 2% your real return for the portfolio was only 2%. What an investor wants to do is achieve returns in their portfolio that outpace inflation over the long-term and provide them with equal or greater purchasing power in the future.

Investing for inflation is really not much different than wanting a raise each year that matches your increases in the cost of living. Essentially your portfolio should be giving you a raise each year in your income to offset the increasing prices of goods and services you use.

To answer Vince’s answer directly it’s not whether he should invest in only short-term bonds, real return bonds or common shares but how much of each to hold over the long-term.

Short-term bonds provide decent inflation protection at the expense of a much lower yield than a longer yielding bonds because you’re not taking on the same interest rate risk. Real return bonds maintain your investment from inflation and you only need to buy a weighting large enough for your desired allocation. Common shares, specifically ones that pay dividends, offer an investor a few advantages in terms of protecting against inflation. Companies that own/operate inflation sensitive assets such as real estate, commodities and infrastructure tend to fare better in valuation terms than other companies. Some dividends stocks pay a dividend and increase that dividend on a yearly basis above the annual rate of inflation then have already achieved your desired goal if the dividend continues to be paid regardless of the effect on share prices. Because dividends, for Canadians, are eligible for the Dividend Tax Credit in a non-registered portfolio the taxation of dividends is less than that of gains from interest (bonds & GIC’s) or from capital gains.

http://www.nurseb911.com/2009/07/protecting-investments-from-inflation.html

reviewed by Moishe Alexander, CFC canadian funding corp CEO

As stock markets around the world have taken a fall with the economic recession, one market that remains strong is Israeli real estate. The Park Hyatt Hotel was host to Israeli real estate firms including Azorim, Gindi Holdings, Dimri Building & Development, Pollock Real Estate and Ashdar Building Company a few weeks ago when they flew into Toronto to deliver a presentation to potential investors.

It was the first time they’d done so directly, according to Ainnat Lifshitz, director of marketing and sales of Bayit4U, the company that coordinated the event. Alongside the real estate developers were bank representatives and lawyers who “give a panoramic view of Israel and cover all aspects of real estate,” she said.

Residential properties in Israel were under the spotlight as they’ve performed well in recent months. According to Lifshitz, demand for homes in Israel was up 14.6 percent in April 2009, compared to the same period in 2008.

http://www.canadasisrael.ca/2009/07/israeli-house-for-sale-in-toronto/

reviewed by Moishe Alexander, CFC canadian funding corp CEO

PEI is a great location for the novice investor to get started. Properties are generally less expensive and while they have risen over the years and continue to do so, the up and down movement is not so great and therefore PEI real estate offers an investment scenario more suited to the beginner. However with land prices throughout Canada on the rise again, and I notice a larger recent rise in home prices here, you can be sure that you will still have a solid investment.

Real estate offers much greater potential to make money than many other forms of investment and does not generally require the services of managers as in the case of mutual funds. You will want to carefully research your market potential and you will, in the case of PEI, first of all decide whether you will be buying residential properties to rent year round or cottages which rent at much higher rates but only for the summer.

It is important when deciding what to invest in here on PEI to determine the amount of money you have on hand and what you can afford to invest for the “long-haul”, say anything up to ten years. Some investors get caught in the liquidity crunch and need to get their money out of the investment in a hurry. This means selling early and at a disadvantage and can result in losses.

If you feel this might apply to you then you should probably refrain from getting into the cottage market. The properties cost much more, are harder to re-sell in a hurry and require more work to rent. Small family rental homes provide year round income, require less maintenance having residents year round, and are generally easier to sell should you need to.

If you own your own home now then you are already a PEI real estate investor. If you have a sizeable equity built up in your home you can use this equity to smooth the mortgage application. Most investors are going to buy several if not numerous properties as they build their real estate portfolio and they are going to have to use that portfolio as financial leverage to acquire the next property. So you will probably start with your own home now!

The cities of Charlottetown and Summerside on the island offer a good selection of current single, duplex and triplex home rentals. Of course you can purchase some of the larger character homes and convert these to apartments. It is a good idea to look for homes that are in need of repair. Some owners will sell just because they don’t have the cash or desire to fix up a rental and it is getting to the point where it will need fixing to be rentable.

If this is the case make sure that you do your home-work and know the condition of the home and the cost to repair. Bring in a home inspector and make sure that you get quotes from reputable contractors on the work recommended.

Also ensure the neighborhood is suitable – however the island neighborhoods are generally good, the “bad neighborhoods aren’t really “Bad”.

Do your research and you will be growing your income through a steady stream of rental payments and your real estate portfolio will be bringing you that much closer to retirement.

http://real-estate-direct.com/real-estate-resource/investment-in-pei-real-estate/

brought by Noishe Alexander, CFC CEO