market

Tuesday June 20, 2017

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday June 20, 2017

Ottawa wants provinces to keep pot tax low

The federal government will be urging the provinces and territories to keep pot taxes low, according to a senior government source.

March 28, 2017

Finance Minister Bill Morneau will make the pitch to his provincial and territorial counterparts, during a series of meetings to be held in Ottawa over the next two days.

Although the source says a price for pot is not expected to be set during these talks, provincial and territorial leaders will be urged to keep taxes low in an effort to undercut prices on the black market.

The discussions will take place at the semi-annual gathering of the country’s finance ministers, and will be the first formal sit down chat about the issue at this level.

Earlier this year, the federal government introduced legislation that will make the recreational use of marijuana legal by July 1, 2018. Many of the decisions about how the drug will be sold and taxed are being left up to individual provinces.

April 21, 2016

The source says Ottawa wants the provinces and territories to agree to three broad priorities when coming up with their marijuana strategies: a co-ordinated approach, a low taxation rate, and a commitment to ongoing collaboration and co-operation.

The co-ordinated approach is an effort to ensure prices and policies are similar across the country. The source says Ottawa does not want to see any “divergent regimes” spiking or dropping prices.

The low taxation rate is an effort to eliminate the black market. The Liberals have repeatedly said the purpose of making marijuana legal is to keep it out of the hands of children and criminals. By setting a low rate, the source says it will help drive drug dealers out of the market. (Source: CBC News) 

 

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Friday February 17, 2017

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday February 17, 2017

Limited supply, high demand in hot Hamilton housing market ‘without precedent’

Warning bells are being sounded in some quarters about an overheated housing market that is trending toward fewer listings, higher prices and yet increased sales, at least locally.

July 13, 2016

But the president of the Realtors Association of Hamilton and Burlington suggests the situation is neither worrisome nor difficult to understand.

“It’s Economics 101,” said Lou Piriano. “There is less supply, and more and constant demand.”

A report released Wednesday by the Canadian Real Estate Association describes a “severe” shortage of homes available for sale “particularly in and around Toronto and in parts of B.C.”

The report said “the imbalance between limited housing supply and robust demand in Ontario’s Greater Golden Horseshoe region is without precedent.”

And an economist was quoted in the Toronto Star saying that the housing market in Toronto “and any city remotely within commuting distance is overheating, and perhaps dangerously so.”

May 7, 2014

In Hamilton-Burlington, the number of properties listed in January was 1,139, down 9.7 per cent from January of last year — but sales of all properties were up 17.4 per cent.

“There is less product and just as many people want it,” Piriano said.

That influenced the average home price rising 12.8 per cent over this time last year.

Piriano said it’s problematic to focus on national figures when just one housing market can distort the numbers but said the GTA continues to exert tremendous influence on Hamilton’s market. Fifteen per cent of all home sales in this area are done by Toronto realtors.

How hot is the market?

It’s just one house, but anecdotally it perhaps represents stories that area home buyers and sellers have been telling of their experiences: A central Mountain home on Desoto Drive, near Upper Wellington Street and just north of Stone Church Road, listed Feb.6 for $599,500 and received 18 offers, according to Mississauga-based ReMax realtor Carl Schuy. It sold Monday, a week later, for $740,000. (Source: Hamilton Spectator) 

Thursday May 22, 2015

Thursday May 22, 2015Editorial cartoon by Graeme MacKay, The Hamilton Spectator – Thursday May 22, 2015

Uber would require ‘political solution’ to operate ride-share in Hamilton

The city’s director of licensing says it’s up to politicians to decide whether Uber can overcome regulatory hurdles to operate in Hamilton.

“In all honesty, if, in fact, Uber is going to come to our community and operate, effectively dealing with their business model, they’ll require a political solution versus an enforcement solution,” Ken Leendertse said Thursday.

So far, the city has been at loggerheads with the San Francisco-based ride-share service, which has only kicked Hamilton’s tires but not committed to establishing a beachhead here.

It’s not clear if a political solution is on the horizon. Mayor Fred Eisenberger is in a wait-and-see mode, noting city staff are meeting with Uber representatives to “get a clear understanding” of how they can legally operate.

“This is something I support and encourage for all businesses looking to invest in Hamilton.”

During an information session this week, Uber representatives addressed concerns about insurance, vehicle safety and drivers’ background checks, Leendertse said.

“And we feel much more comfortable.”

But to legally operate in Hamilton, Uber would have to become a licensed taxi broker, he added.

That would significantly alter its business model: the company’s latest service, UberX, eliminates the need for dispatch services, and allows customers to hire unlicensed taxi drivers by using their cellphone.

Uber has established footholds in 250 cities around the world, but has been greeted with resistance with critics citing safety concerns. (Source: Hamilton Spectator)