Nov 11

byAlma Abell

Fence contractors commonly provide fence materials and products as well as installation services. This is the most convenient way to have the fence you want installed for your property. Since there are so many styles and fencing materials from which to choose, you should make sure to choose a quality Fence contractor in Temecula for your California home. The following will give you an idea of what to expect from fence contractors.

Consultation and Estimates

Due to the fact that not all fences are suitable for all properties, you should consult with professionals that know how to help you choose the right kind of fence for your property. They should have knowledge of wood, vinyl, chain link, and iron fences in order to help you with your decision. It takes an experienced contractor to have the knowledge and expertise to help you. Once you make an informed decision about your fencing material and type, the contractor should also provide you with an honest estimate on what it will cost for the fence and installation.

Professional Installation

Once you have decided on your fencing type and you approve of the estimate given to you, the installation appointment will be made. Make sure you choose a time frame where you or someone will be available on your property during the installation process in case the workers run across a problem. Even when the contractor has all the appropriate credentials and insurance, someone should be at home when they are installing your fence.

Wide Selection

A good Fence contractor in Temecula will offer a wide selection of fence materials, hardware, security, privacy, and custom fencing for your property. Some of the fence options you should have to choose from include redwood, cedar, dog ear, horse, ranch, picket, split rail, privacy, ornamental, dog kennel, decorative, vinyl coated, and other options suited to your personal tastes and needs.

These are the basic things to expect from a fence contractor in your local area. When you are ready to install a fence around the perimeter of your property or for another application, you will be glad you checked out the contractors before choosing one. The Mesa Fence Co. brings over 20 years of experience to the industry. Visit Site to find out more and check their licensing, services, location, and other credentials.

Nov 11
Australian man to be executed in Singapore

Saturday, November 19, 2005

Supporters of convicted Australian drug trafficker, Van Nguyen, gathered outside the State Library in Melbourne yesterday to display thousands of messages of opposition to his death sentence.

Callers to talkback radio in Melbourne were overwhelmingly against the death penalty of Nguyen, who immediately admitted his guilt and has cooperated with authorities since being caught smuggling heroin into Singapore. Many called for a boycott of Singaporean products.

25-year-old Nguyen was arrested at Changi Airport in 2002 for carrying heroin and sentenced to death in March. Nguyen claims he carried the 396 grams of heroin strapped to his body in an attempt to pay off his brother Khoa’s $30,000 legal debts.

The Singapore government have announced they will execute Nguyen at dawn on December 2nd. Singapore President S. R. Nathan rejected Nguyen’s clemency four weeks ago. The Melbourne salesman was sentenced to death under Singapore law which determines a mandatory death sentence for anyone found guilty of possessing 15 grams of heroin or more.

Nguyen’s mother was informed on Thursday by registered mail from the Singapore prisons service of the execution date. The letter stated that she should start making funeral arrangements. She will get to see her son in the three days leading up to the execution.

Despite repeated pleas for clemency from many thousands of supporters; religious groups; human rights organisations; the Pope; and the Australian Government – including Prime Minister, John Howard – Singapore officials have said Nguyen’s execution is irreversible.

Mr Howard had argued that Nguyen should be spared, citing mitigating circumstances in his case which pointed to the fact that he was not a serial drug trafficker but had merely been trying to pay off his brother’s debts.

The Victorian Attorney-General, Rob Hulls, says the Singaporean Government has shown no compassion whatsoever in its treatment of Van Nguyen and his family.

“What’s happening is brutal, is inappropriate. I, and the Victorian Government, vehemently oppose the death penalty in any circumstances”, he told ABC Radio. “This is a young kid who has assisted the police all the way… In any other country, he would get a discount in relation to the penalty. But because there is a mandatory death penalty for drug offences in Singapore, this young man may well be executed. It is just grossly inappropriate.”

“Singapore maintains that capital punishment is a criminal justice issue; it is the sovereign right of every country to decide whether or not to include capital punishment within its criminal justice system,” a Foreign Ministry spokesman said.

Singapore argues that there was no international consensus that capital punishment should be abolished. At the most recent meeting of the UN Commission on Human Rights, 66 countries dissociated themselves from a resolution calling for the abolition of capital punishment.

Prime Minister Lee Hsien Loong affirmed Singapore’s position by saying that it has to “stand firm on drugs to protect its citizens from the scourge and to ensure the country does not become a conduit for the trafficking of illicit drugs.”

In reply to a letter appealing for clemency from his Australian counterpart Alexander Downer, Singapore Foreign Minister George Yeo said: “Mr Nguyen imported almost 400gm of pure heroin which would have supplied more than 26,000 doses to drug addicts.”

No one will be permitted to see Nguyen on the morning of his execution. His body will be released to his mother.

Nov 11
Menorca airport’s new terminal collapses
Menorca airport’s new terminal collapses

Thursday, September 14, 2006

The roof of the new Menorca Airport terminal in Spain collapsed at 12:32 p.m. local time, trapping 20 people and injuring three. The terminal was scheduled to be inaugurated in a few months time.

Nov 10
Iranian Navy conducts drills in Strait of Hormuz
Iranian Navy conducts drills in Strait of Hormuz

Monday, December 31, 2012

The Islamic Republic of Iran says it is conducting naval drills in the Strait of Hormuz. According to the Iranian navy’s Habibollah Sayyari, the “Velayat 91” drills — to be held for a six day period ending on Wednesday — are intended to showcase “the armed forces’ military capabilities.”

Iran’s state-run media reports that the Iranian government warns all ships to stay away until the end of the exercises. According to this report the drills — which began on Friday — are to be conducted over roughly half a million square miles (a million square kilometers) of waters stretching from the Strait of Hormuz to the northern part of the Indian Ocean which includes the Gulf of Oman.

The Strait of Hormuz is a major shipping route of great strategic importance. According to the U.S. Energy Information Administration, 17 million barrels of oil passes through this part of the Persian Gulf per day. That is nearly 20% of the worldwide oil trade and about 35% of oil transported by sea.

This is only one in a series of major naval drills held by Iran in the Strait of Hormuz. Ten days of drills, “Velayat 90”, was conducted last December and “Velayat 89” a year and a half before that in May 2010. Four months ago, the United States with some of its allies also conducted a series of exercises and naval drills, concerned with keeping the strait open. Iran has said it might close the strait if its nuclear program were attacked.

Nov 9
Demonstrators protest Condoleezza Rice’s trip to Australia
Demonstrators protest Condoleezza Rice’s trip to Australia

Thursday, March 16, 2006

Anti-war demonstrators in Sydney, Australia on Thursday dubbed U.S. Secretary of State Dr Condoleezza Rice a “war criminal” and “murderer.” Two protesters were evicted and five people were arrested during protests against the U.S.-led invasion of Iraq.

Dr Rice, on a three-day trip to Australia, said she understood why people found it hard to be positive about Iraq when all they saw on their television screens was violence.

Soon after Rice began her speech at the University of Sydney’s Conservatorium of Music, two protesters shouted from the rear of the auditorium, “Condoleezza Rice, you are a war criminal,” and “Iraqi blood is on your hands and you cannot wash that blood away.” Standing with their palms towards her, the young man and woman repeated their accusation until security intervened to remove them from the hall.

About 15 minutes into Rice’s address, a third protester appeared at a balcony door, interrupting her speech as she referred to freedom. “What kind of freedom are you talking about? You are a murderer,” said the demonstrator before he was quietly escorted from the hall. “I’m very glad to see that democracy is well and alive here at the university,” she said.

In her speech, Rice sought to justify the U.S. occupation of Iraq, describing Iraqis as now more free. One student asked about abuses committed by U.S. forces at the Abu Ghraib prison in Iraq. She said the abuses had made her “sick to her stomach.” However, she defended Guantanamo Bay, Cuba, where human rights groups say detainees are held in inhumane conditions and in detention flouting international laws.

Before Rice began her speech, about 50 protesters were gathered at the front gates of the Conservatorium. The group were confronted by police on horseback and by police dogs. Police used the horses to charge into the group of activists and push them back, as a police helicopter hovered.

A police spokeswoman said the group was blocking pedestrian access to the building and that police had spent more than 20 minutes warning them to move. The police then moved in and pushed the crowd back 20 metres. Police say five people have been charged with “hindering police in the execution of their duties.”

The “Stop the War Coalition” says Rice is a “war criminal” and is not welcome in Australia. The group’s spokeswoman, Anna Samson, says the protest is one of many planned in the lead-up to the third anniversary of the invasion and occupation of Iraq on March 20.

Paddy Gibson, from the University of Sydney’s Student’s Council, says the protest is in opposition to the Iraq war, and to the use of the University of Sydney’s campus to host Rice, “the most powerful woman in the world,” who they say is a war criminal. “They’re saying, ‘… you’ve got Sydney Uni’s support to stand up and peddle your murderous hate speeches,’ which is what we see it,” he said.

“You’ve got 180,000 people killed, as we said, for no other reason than strategic control of the region’s oil resources. And the anti-Muslim racism that’s been whipped up to justify this war is being felt by Sydney University students,” said Mr Gibson.

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Nov 9
Wikinews interviews the Wikimania 2010 Poland bid promoter
Wikinews interviews the Wikimania 2010 Poland bid promoter

Tuesday, December 30, 2008

This article mentions the Wikimedia Foundation, one of its projects, or people related to it. Wikinews is a project of the Wikimedia Foundation.

Wikimania is an annual conference for users, developers and other people involved in the wiki projects operated by the Wikimedia Foundation. It is held yearly since 2005. The first conference was held in Frankfurt, Germany, on August 4-8, 2005. The second one was held in Boston, USA (on August 4-6, 2006), the third one was held in Taipei, Taiwan (on August 3-5, 2007), the fourth Wikimania was held in Alexandria, Egypt (on July 17-19, 2008) and Wikimania 2009 will be held in Buenos Aires.

Melbourne, Daytona Beach, Rio de Janeiro, Amsterdam, Copenhagen, Gda?sk, Montpellier and Oxford are among current unofficial Wikimania 2010 bids. Below is Wikinews‘ conversation with the Gda?sk bid promoter and initiator, Wojciech P?dzich.

Wikipedians from Tricity are involved in the process of making an offer, which will give Poland a chance of organizing a world-wide conference of Wikimedia Foundation, Wikimania 2010. Among the competing cities are Washington, D.C., Rio de Janeiro, and Oxford. This year the conference was held in Alexandria, Egypt, where the famous Library of Alexandria is located. Does Gda?sk stand a chance among such known cities?

Poland is still an interesting, unknown, and a cheap-to-visit country
  • Wojciech P?dzich: Because of Wikimania continental rotation, Australian and European bids have the biggest chances in 2010. Australian, because they have not hosted Wikimania yet, and Europe, because the first Wikimania was held in Frankfurt back in 2005. Do we have a chance among other European cities’ proposals? Poland is still an interesting, unknown, and a cheap-to-visit country with a comprehensive list of countries from which their members can visit Poland without requirement of having a visa. We propose the conference to be held inside two adjacent buildings – Polish Baltic Philharmonic and the Polish Maritime Museum buildings, located just few steps from Long Market at the city’s centre. Yes, I do think that our offer will be attractive and will give us a real chance of organizing the Wikimania 2010 in grad upon Mot?awa.

((WN)) The tagline of your proposal is Gda?sk – the city of freedom. Could you tell us, why do you promote yourself with this line?

  • Gda?sk is associated by many with freedom, with its political impact. On the other hand, we have the Wikimedia Foundation and its values of sharing knowledge created freely by volunteers. A conjunction of a cosmopolitan city with strong revolutionary and liberal inclinations and a world-wide free culture is in this case, kind of, natural.

((WN)) How many are involved into creating a proposal? Poland is relatively small country. Are you sure you will be able to guarantee the efficiency of conference, if your proposal wins?

We can say we have a great community potential here.
  • Poland is not exactly small – of course we cannot be compared to the USA, India, or China, but we are not a small country either. Let’s remember that according to the old way of presenting the Wikipedia language editions’ ranking, we were the fourth edition. Even after committing a change to this ranking system, we are still in the first ten. Therefore, we can say we have a great community potential here. Moreover, other Polish Wikimedia projects also place themselves within first tens of respective projects.
Speaking about people involved – so far we have only few, and sometimes I lament about that. Every next person is a possibility of sending few mails, talking with other people, additional pair of eyes looking at the offer, some ideas, contacts, knowledge. That’s why Patrol110 has spammed Pomeranian Wikipedians, so they could get involved, and so am I giving a weight to this: we need more people. Especially if our offer will win, but then I believe in another famous Polish “national spurt”.

((WN)) Were there, in Gda?sk, already some world-wide conferences? Did the city manage to organize them?

I do have a hope that we will get a world-wide coverage thanks to the Wikimania
  • On December 5 and 6, 2008, the 25th anniversary of awarding president Lech Wa??sa with Nobel Peace Prize was held. Furthermore, it was held inter alia inside the Polish Baltic Philharmonic, which we propose as a place of the Wikimania 2010 conference. It was an event with over one thousand attendants from all over the world, and the city, in my humble opinion, did manage to organize this very well. The mayor of the city, Pawe? Adamowicz, has confirmed it, by saying After successful celebrations of 25th anniversary of awarding Lech Wa??sa with the Nobel Peace Prize we see that we can organize big events. […] O?owianka does its job as a big congressional place perfectly. […] Gda?sk will, once again, get a world-wide coverage in Dziennik Ba?tycki interview. I do have a hope that we will get a world-wide coverage thanks to the Wikimania.
The City organizes a lot of cultural and trade events. There are Gda?sk International Fair, St. Dominik Fair, Shakespeare Festival, Good Humor Festival. We should also not forget other parts of the Tricity: Sopot and Gdynia which are also rich in cultural events.

((WN)) Lately Poland tried to get a bid for the European Institute of Innovation and Technology and Euro 2012. Both actions have brought a large government support. How is it this time?

  • We’ve contacted the city’s authorities. After a meeting with representatives of the Mayor’s Promotion and Chancellery Department we have got assurance about supporting our actions, what was confirmed by Mayor’s letter sent to us. The representatives assure us about their support all the time. They even have made an initial reservation of both buildings for July 9-11, 2010. They also offer an organizational support, which will be extremely important in case or city is chosen.

((WN)) Poland is a part of the European Union. What about Wikimedians, who are inhabitants of countries requiring a visa?

  • As I stated before, the list of countries, which citizens are not required to have a visa when entering Poland for 90 days is pretty long[1], and it does not restrict to Schengen Agreement participants. Long list of Polish missions abroad[2] and freely available Visa application form [3] should allow easy access to Poland for other countries citizens.

((WN)) Information about Gda?sk application to host Wikimania started to appear in local media. What is local community reaction to this idea?

  • One can see it in the comments to the articles. Those that do not like Gda?sk in general are slightly against but most is for the idea. There are also people and organisations declaring help – I’ve got already some mails from potential supporters.

((WN)) As you said before some people are objecting, probably not knowing possible benefits. How will Gda?sk and it’s inhabitants benefit?

  • In addition of prestige, as we are talking about international event run by the organisation managing a flagship of Free Culture movement, world’s focus, city presence in world’s media, the conference will cause a money influx, new guests who can decide whether to come back to the city or suggest visiting it to their friends. We try not to make any troubles to city inhabitants, hoping that a conference held in one place will not paralyse the whole city.

((WN)) Many possible visitors are not able to cover the cost of travel to Wikimania. What about organizers sponsorship?

  • It will depend on talks with companies willing to be sponsors. But I do not imagine leaving such requests unanswered.

((WN)) Wikimania is not only lectures, but also a possibility for long night talks with participants from other countries. How does Gda?sk’s night-life looks like?

  • There are plenty of places where you can meet and talk with each other. You can see it in a draft offer where one can see hundreds of places where you can talk while eating and drinking. Proximity of Old Town invites for a walk through streets with a wonderful and unmatched atmosphere, you can only feel by yourself.

((WN)) English is the language of Wikimania. Will the attendants be able to communicate with employees of restaurants, clubs, shops, etc.?

  • Personally, I encountered the shop assistant, who couldn’t sell the product to foreign people only once; also just once I saw a rough translation of “polska kuchnia” as “Polish kitchen” instead of “Polish cuisine”. The Poles are able to communicate in English, I saw their communicativeness by teaching adults English for seven years. Most of menus and other informations in Old City’s venues are translated into English and German, and the waiters know English at a level, which allows the customers to get a trouble-free service.

File:Wpedzich z synkiem.jpg

Wojciech P?dzich (b. 1979) – comes from Szczytno, graduate of English linguistics in 2001, inhabitant of Gda?sk since 2001. Except of husband and father’s roles, an employee of the Purchase Department in a power hydraulics company. Involved in Wikimedia projects since December 2006, in the beginning as a translator of articles and guidelines for Polish Wikipedia, then the administrator of the project, a member of the first Arbitration Committee Board in Polish Wikipedia. Wikimedia projects’ steward since December 2007, member of the Wikimedia Polska Association. One of the initiators of Gda?sk Wikimania 2010 bid proposal.

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Nov 8
La La Land receives record-equalling fourteen Oscar nominations; Hacksaw Ridge gets six
La La Land receives record-equalling fourteen Oscar nominations; Hacksaw Ridge gets six

Wednesday, January 25, 2017

Yesterday, La La Land, directed by Damien Chazelle, received a record-equalling fourteen Academy Awards nomination, tied with 1950s movie All About Eve and 1990’s Titanic. Mel Gibson’s HackSaw Ridge based on true story bagged six nominations.

The movie, featuring Ryan Gosling and Emma Stone, received nominations in all major categories. Gosling and Stone received nominations for Best Actor and Actress respectively. The other nominations include Best Picture, Director, Cinematography, Costume Design, Film-editing, Original Score, Production Design, Sound Editing, Sound Mixing and Original Screenplay. Two songs from the movie, Audition (The Fools Who Dream) and City of Stars, received nominations for best original song. Lionsgate studio received 26 nominations — more than any other studio.

Andrew Garfield, who previously starred in The Amazing Spider-Man along with Emma Stone, competes with Gosling for his role in Hacksaw Ridge. Based on the true story of US combat medic Desmond Doss, the movie has received six nominations including Best Picture, Actor in Leading Role, Best Director, Film Editing, Sound Editing and Sound Mixing — La La Land also receiving nominations in these categories. Lion and Manchester by the Sea also received six nominations.

Author J.K. Rowling’s screenwriting début Fantastic Beasts and Where to Find Them starring Eddie Redmayne received two nominations for costume design and production design. Redmayne won the award for best actor two years ago for playing Stephen Hawking in The Theory of Everything and was nominated last year for The Danish Girl.

This year, six black actors received nominations setting a new record. The hashtag #OscarsSoWhite was mentioned lot of times on Twitter as no non-white received nominations for the past two years. April Reign, creator of the hashtag, said “Everyone is saying the Oscars are more diverse this year. No they’re not. They’re blacker, but where are the Latinx movies, the LGBTQIA movies? The Asian American/Pacific Islander community has had a worse year. We can’t forget just because we have black nominees this year.” Bradford Young, cinematographer of Arrival, is the first African-American to be nominated and Joi McMillon – editor of Moonlight – is the first non-white woman to receive nomination. Mahershala Ali, Naomie Harris, Viola Davis, Dev Patel, and Octavia Spencer are the non-white people who are nominated for their supporting roles.

Disney’s Zootopia and Moana received nominations for Best Animated Feature film. Pixar’s Finding Dory did not receive this nomination. Last year, Pixar’s The Good Dinosaur also missed the nomination but Pixar’s Inside Out, directed by Pete Docter, won the award.

Manchester by the Sea‘s nomination made the e-commerce website the first movie streaming company to earn a nomination for the Best Picture category. Arrival bagged eight nominations. Florence Foster Jenkins starring Meryl Streep nominated for Best Actress earned her 20th career Oscars nomination.

The award ceremony is to be held on February 26 to be hosted by Jimmy Kimmel.

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Nov 8
Garuda Indonesia increases flights, fleet; may buy rival
Garuda Indonesia increases flights, fleet; may buy rival

Tuesday, June 9, 2009

Indonesian state-owned flag carrier Garuda Indonesia has been expanding, with the airline set to add nine new jets to its fleet and double its flights between Jakarta and Kuala Lumpur. Garuda is also considering a bid for defunct rival Linus Airways.

Garuda is expecting the imminent arrival of four new Airbus jets and five new Boeings. The Airbuses, A330-200s, are earmarked to fly international routes to Seoul and Shanghai starting in July. All four have Internet and telephone access for passengers. The Boeings, B737-800 Next Generation aircraft, are due to be in service by the 2010.

Also planned before the year’s end is the increase in flights on the Jakarta-Kuala Lumpur route from one to two per week. “We saw our current load factor[s] have reached 75 percent and even more during school breaks like June and July,” Said the company’s Vice President for Network Oversight, Risnandi. “This is very promising.”

Garuda is now reported to be considering a bid for Linus, who stopped operating on April 27 and have recently been stripped of the rights to fly their former routes as legally required for airlines that do not operate for more than thrity days. Linus still holds some documents of worth to Garuda for transfer to their subisidiary Citilink.

“I heard that Garuda intends to buy Linus who already hold an aviation business license (SIUP) and an air operators certificate (AOC) for the scheduled air services,” said Indonesian Director General of Civil aviation Herry Bakti S. Gumay to reporters for Bisnis Indonesia. He said that his office was in favour of a takeover by Garuda because foreign bids are limited to holding a maximum total of 49% of the shares in Linus.

Linus Airways’ President Directer Indra said that “we are flexible to acquisition, depending on the investor. If someone wants to buy 100% of the shares we can release our shares, but if someone wants take only a majority shareholding with us as a partner – we are also open.” Indra commented that he has had an informal meeting with Garuda CEO Emirsyah Satar but says that they never discussed acquisition by Garuda and that Linus is already in talks with another ‘strategic investor’ with a view to resuming operations.

Two airlines, Riau Airlines and Kartika Airlines, have both launched bids for the ten routes formally operated by Linus, which include four from Jakarta and three from Batam.

Garuda Indonesia’s Financial Direcotr Eddy Purwanto has anounced that US$650 million worth of loans from Bank Mandiri have been restructured. Garuda, who has apointed Rothschild’s as their international financial advisors, will now pay US$450 million by 2015.

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Nov 7
Teen charged with seven felonies related to threats made on Wikipedia, Wikinews interviews administrator who contacted police
Teen charged with seven felonies related to threats made on Wikipedia, Wikinews interviews administrator who contacted police

Friday, April 25, 2008

This article mentions the Wikimedia Foundation, one of its projects, or people related to it. Wikinews is a project of the Wikimedia Foundation.

A 15-year-old boy, arrested last Friday in conjunction with criminal threats made on Wikipedia, was charged Thursday with seven felonies in Pomona Juvenile Court in Pomona, California. Prosecutors stated that the teen posted two threats on Wikipedia, saying that six named students as well as members of his school’s badminton team would be shot. The court arraignment had initially been set for Tuesday, but was continued until Thursday. Wikinews interviewed the Wikipedia administrator who contacted police after the threats had been made on the site.

Though officials had said the boy made a full confession that he had made threats to other students via the online encyclopedia Wikipedia, he denied the charges at the Thursday court petition. The court ordered that he remain detained pending a May 9 scheduled appearance before Pomona Juvenile Court. He has remained in custody since his arrest.

The threats were made via two separate edits to the Wikipedia article about Glen A. Wilson High School in Hacienda Heights, California on April 16. Wikipedia administrators were made aware of the threats in a post to the “Administrators’ noticeboard” on April 16 by Wikipedia admin Dreadstar. Another Wikipedia administrator, John Reaves, contacted the police in Los Angeles, California, and helped them work with the Internet service provider to find more information on the IP address that made the threat. A third Wikipedia administrator, Persian Poet Gal, removed the threats from the edit history of the article after finding out that the student had been arrested.

Students’ backpacks were searched prior to entering Glen A. Wilson High School on April 17 and all after-school activities were canceled that day. All classes were canceled April 18, and classes resumed on Monday.

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Nov 7
A Canadian Real Estate Bubble May Be Reality

By Stefan Hyross

The forecasts for a nationwide Canadian housing bubble have so far not become reality, and the real estate market has remained robust throughout the mortgage crisis that rocked the U. S. economy the past few years. Analysts were concerned that the Canada Mortgage and Housing Corporation’s (CMHC) plan to keep the credit circulating by approving high-risk loans had created an alarming 7.4:1 ratio of income to housing values — almost 50 percent more than the American ratio before the U.S. housing bubble burst. As a consequence of the CMHC’s policy shift, the average Canadian household debt underwent a 9.3 percent raise in only one year.

In the earlier part of this year, Stephen Jarislowsky — the 84-year-old investment advisor presumably worth $1.85 billion — said to reporters that the CMHC’s plan had failed. Jarislowsky flatly negated the comments made by Finance Minister Jim Flaherty claiming that the indications did not forecast to a future housing bubble. Jarislowsky was persuaded that the government’s plans had not strengthened the economy. ” They have basically encouraged renters to purchase homes based on inexpensive mortgages. The City of Toronto is an example of this as purchasers have pushed up prices for Toronto properties simply because of affordable mortgages.

In February, the Wall Street Journal investigated the possibility of a Canadian housing bubble and pointed out that bold lending practices adopted after the 2008 crash of the U.S. based Lehman Brothers could have backfired unless the government balanced the lending practices. In January of 2010, the Bank of Canada representative expressed the hesitation of the banks to take measures, saying that “if the Bank were to increase interest rates to slow down the property market now “we would, in essence, be dousing the entire country’s economy with cold water, just as it crawls out from recession”. Condo owners in Toronto are following this extremely closely since a rise in lending rates would have a large impact on condos for sale in downtown Toronto which would affect sales.

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The Canadian Real Estate Association figures that were published for the first half of 2010 does show that the start of the slowdown in 2008 created a steep drop in residential real estate transactions. But this was short-lived, and the rebound has not been as dramatic as expected. Even though the May 2010 sales numbers indicated a 9.5% drop, the year-over-year price gains actually moderated it to 8.4 percent. Currently the market is stabilizing, and the offering of homes is increasing as the prices go up and buyers are not as anxious to invest. If you own a home in Toronto you may be able to withstand a fall in the value of your property however smaller regions like the Hamilton real estate market could see a substantial decline in housing values.

“The bubble threat made a lot of people nervous,” explained Pascal Gauthier of the Toronto-Dominion Bank, who saw clients fearing a crash similar to the 30 percent drop in U.S. housing values. But he mentions this summer he is experiencing a “180-degree turn from six months ago,” and that the interim factors that boosted values have only resulted in a modest fall in a sector that was clearly overpriced. Gauthier estimates that the national average may experience a 7% decline, but that the markets in Toronto and Vancouver will bear the brunt of that decrease, and a few sectors such as The Prairies and Maritimes could even start to realize increases by the end of the year.

About the Author: Stefan Hyross is a housing writer that studies the housing sector. For news about

Toronto properties

or to look for

condos for sale in downtown Toronto

please visit the sites. You may also search for

Hamilton real estate

and information.


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