Real Talk!

CTV.ca News reported, yesterday, that new data suggests the Canadian housing market has already bottomed out. Analysts point to lower price and better interest rates for the spike in home sales.

A recent report from Scotiabank says that recent immigrants have been driving housing demand in the country. The reports says census Data shows what 72 per cent of immigrants lived in home owned by someone in their family in 2006, up from 68 per cent in 2001.

Besides immigrants, young people — especially women — are fuelling demand- particularly condos. They live with their parents longer, save money and move directly into home ownership.

Canwest News Service reported a message from Benjamin Tal, senior economist at CIBC World Markets, speaking of recent data. Apparently the worst of the recession is over. Tal said, "The darkest hour was in the first quarter . . . so what we're seeing now is that we are crossing the line."

The number of building permits issued in Canadian municipalities and the value of building permits surpassed the $5 billion mark in May: Toronto area building permits were up a sharp 26.8 per cent, Calgary's building permits doubled, the majority of provinces have reported double-digit increases in the value of permits issued.

I still find it difficult to understand the way building permits figure into the picture... however....

Derek Holt, vice-president of economics for Scotia Capital, believes development in Ontario, for example, will continue to swell around satellite towns and cities.

Ah ha! Now there’s something I can dig my teeth into!

Forward thinking municipalities are undergoing a process of self-assessment- in North Hastings, The Town of Bancroft, the Municipality of Hastings Highlands and Wollaston Township, have embarked on a new project in partnership with the Ontario Ministry of Agriculture, Food and Rural Affairs, to revitalize the communities of Bancroft, Maynooth and Coe Hill.

The Revitalization Committees are busy, developing an Action Plan initiating strategically planned change that recognizes and promotes heritage, respects and protects natural resources and celebrates cultural assets. The community is most excited about the revitalization project, as it is sure to provide visitors with a better perspective of our fascinating history, bountiful natural resources and eclectic culture.

Simultaneously, there is the “Build Bancroft Project”, a redevelopment plan that aims to undertake a major re-development of the downtown core of Bancroft- a project spearheaded by experienced developers, Evanco Development Corporation and Forrec Limited. For their downtown Bancroft redevelopment project, they are working alongside officials from the Town of Bancroft, the local community, and representatives from the federal and provincial governments.

While “redevelopment plans” are in the early stages, and still very rough, the partners now have a good sense of the components and the costs. They also have support from various levels of government.

No matter how you slice it, the Greater Bancroft area is a piece of heaven on earth. With a multitude of things to do, places to see and people to meet- it’s a place that appeals to every one of the senses AND there are still some good deals to be had… and mortgage rates are pretty low… for now,at least, paradise is still within reach.