Friday, April 15, 2011

BMO: Canada real estate market heading for bubble—but not Toronto

Article from Toronto Life magazine by John Michael McGrath dated March 4, 2011


A new report out from BMO Capital Markets suggests that Canada is in increasing danger of a housing price collapse—especially if prices keep going up. The good news for Toronto is that while other provinces are steadily inching closer to the danger zone, Ontario doesn’t seem to be.

The problem is that the value of homes have increased much faster than incomes. The bank says average home resale prices compared with personal incomes are 14 per cent above the long-run trend, up from last summer, although still below the 21 per cent peak that preceded the 1989 crash.
But that is not the case in all markets. Five provinces are currently in the danger zone, led by Saskatchewan, where the ratio is 39 per cent above historic norms.
Also well above the long-run levels is Newfoundland, 34 per cent higher; British Columbia and Manitoba, 31 per cent, and Quebec, 23 per cent above.
By comparison, in Ontario, the price-to-income ratio is only 10 per cent higher than historic norms, suggesting prices are moderately overvalued but not in bubble territory.

Hurray for Toronto—overvalued against historic prices, but not quite as bad as other places. It’s like we’ve been saying: when the collapse of the housing market comes, Toronto may get hit, but we won’t need to stockpile ammo, canned goods and drinking water.
Of course, this also means Toronto shoppers might be able to pick up real estate in other provinces for a song after the crash. Anyone interested in a waterfront property in Regina Beach?

Monday, April 11, 2011

Choosing a Real Estate Agent

You see so many different For Sale, Sold and For Lease signs with so many different Realtor names. You browse the listings on MLS and see so many more. With so many agents out there, how do you choose? Do you go by their picture? Do you look at how many listings they have? What's a home buyer to do?
Here are a few recommendations when beginning your search:

1) Get referrals from family, friends and co-workers.  

2) Meet with a few agents to conduct mini interviews.

3) Check the online search of The Real Estate Council of Ontario to see if the agent is registered. RECO regulates the activity of trading in real estate in the public interest and has been put in place to protect your best interests.

4) If you are a seller, find out how much their commission is.

5) Normally, it is helpful if the agent is familiar with the area you are looking in. 

6) Choose someone who displays professionalism and a willingness to work for your needs.

7) Should you want, your agent should be able to assist you with other necessary real estate related services, for example, arranging a house inspection, arranging a mortgage and finding a real estate lawyer.

8) If you are selling your home, does the agent have a plan of attack for marketing your house. MLS, ads, open houses?
9) Not all agents work the same schedule. If you are only available to view properties on Sundays, make sure your agent works weekends. Communicate your availability during your interview with them.

10) This isn't a deal breaker, but if your sales representative has a website, that is a very good way of gathering even more information about them and seeing what affiliations they have.

Sunday, April 10, 2011

Did you know our children are struggling in school?

Latino students are struggling in our schools, but nothing is being done! As parents, we must support our children as they make their way through school and do everything we can to empower them during this time in order to succeed. 
Below is an article from Fox News Latino describing a study done of 60 Latino students in various Toronto high schools and the struggles they face.
---------------------------------------------------------------------------------------------------------

Pedro, a 10th grader whose family emigrated from Colombia a few years ago, was labeled a slow learner because he didn’t speak English. Rita, a high school student, said that when she arrived from Mexico, she was shunned and berated by her peers for not knowing English.
Both are students in the Toronto school district, which, with over 250,000 students and 600 schools, is both the largest in Canada and the one with the most Latin American students. And both were part of a study released last month which examined Toronto’s high Latino drop-out rate: About 40 percent of these students—nearly double the number of the overall population—fail to finish high school.
Compared to generations of Latin American migration to the U.S., large numbers of Hispanics started settling in Canada relatively recently. The first wave came in the 1970s, as political asylum seekers fled South American dictatorships. The largest wave, however, came after 2000, when the immigration debate in the U.S. became most heated.
About 350,000 Latin Americans are now in Canada, where the overall population is about 32 million. The largest concentration – a little more than a third – have settled in Toronto. But some say that the Canadian school system was not prepared for a sudden influx of Spanish speakers – which now total about 5,200 – and the young Latinos who migrated there have paid the consequences.
Rubén A. Gaztambide-Fernández, an education professor who headed up the University of Toronto’s years-long study, said many students told researchers scarce resources for Spanish speakers and economic stress impacted their performance.
They also said teachers and their peers had such negative stereotypes about them, that it bred low expectations.
“In the U.S., depending on where you live, all the stereotypes about Latinos tend to be bad, but at least there are a lot of stereotypes,” said Gaztambide-Fernández, whose final report, released this month, was 103 pages long. “What we found in Canada was that everyone assumes that because you are Latin American, you are Mexican. And because you are Mexican, you are poor, lazy and you belong to a gang. That was it.”
Gaztambide-Fernández believes the narrow view may be due to Latinos’ relatively recent arrival. “The only images many Canadians consume of Latin Americans are those that come from Hollywood movies,” he said.
A Puerto Rican Harvard University graduate, Gaztambide-Fernández moved to Toronto from Boston in 2006, around the time the Toronto school district began collecting demographic information about its students.
It was the first time the city was able to look into student success based on race and ethnicity, which turned out to be a long and arduous task. But when the results came in, the school district realized Latin Americans were dropping out at double of rate of the rest of the student population. No one knew why, so a group of Hispanic Torontonians decided to find out.
Sixty students from six Toronto high schools filled out surveys and were interviewed in focus groups or alone. Over and over again, Gaztambide-Fernández said, the students complained about not having enough Spanish-speaking support or ESL classes. Many reported they had to work to help their families, and said juggling those hours with school was affecting their class work. They also said the negative stereotypes sapped them of academic motivation.
“It is like a little burlap sack, you throw in discrimination, you throw in work, you throw in that you have no money, you throw in that, well, you don’t like school, you throw in this and you throw in that, and the burlap sack gets heavy,” said Mercedes, a 12th grader who was interviewed for the study, which published only first names. “It is not just one factor that leads you leave school.”
The 250,000-student Toronto school district, the largest in Canada, acknowledges that Latino students have struggled there. Members of the school board say they have tried to address the group’s problems in the past but nothing has worked. But now, following the University of Toronto study, the school board plans to launch a more far-reaching program.
The school board will adopt a series of recommendations in the study and has already reached out to the community, universities – and even school officials in New York – to address the issue.
“It is very clear to us that in order to help specific students improve their achievement we have to have innovative approaches,” said Jim Spyropoulos, Coordinating Superintendent for Inclusive Schools at the Toronto District School Board. “If we keep doing the same things, we are going to keep getting the same results.”
As part of its efforts, the district will kick off a pilot program in February that will offer cultural sensitivity classes to teachers so they could understand the Latin American culture, offer support programs for newcomers, and give low-income students part-time jobs at the school. Latin American history courses will also be part of the curriculum.
If the pilot program is successful, it will expand to all schools.
“What our kids keep telling us is, 'they don’t get us',” said Spyropoulos of the school board. “This is our best attempt to try and support them.”

To reach the writer, email carolyn.salazar@foxnewslatino.com

Wednesday, April 6, 2011

Entrevista del 23 de febrero en AM1610 Voces Latinas

Aquí se encuentra la entrevista del 23 de febrero de Antonio Guerrero con Silvia Mendez en radio AM1610 Voces Latinas.

Haz click en el logo para escuchar la entrevista grabada.