Prices, Rates Climb

Gary Marr, National Post

Bidding wars and higher interest costs have led to the inevitable -- an increase in the cost of owning a home for the first time in five quarters, says a new index produced by Royal Bank of Canada.

The bank says home-ownership costs are up, something that has not happened since the spring of 2008. Despite the increase, costs are still off the peak of this housing cycle.

Royal Bank says 45.8% of pre-tax household income was needed to service the cost of owning a standard detached home in the third quarter of this year. That was up 1.2 percentage points from a quarter ago but well off the high of 52.3% hit in spring 2008. The record high was 57.1%, reached in the second quarter of 1990.

"Home affordability has deteriorated in all provinces and major markets in Canada due to a slight rise in key mortgage rates and appreciation in property values," said Robert Hogue, senior economist at Royal Bank.

Figures released this month from the Canadian Real Estate Association, which represents 100 boards across the country, show the trend of escalating prices is not slowing down. The Ottawa-based group said existing home prices were up 20.7% last month from October, 2008, the largest year-over-year increase in 20 years.

Those price increases have come as interest rates have also started to rise. Mr. Hogue said the 5.4% posted rate for a five-year closed mortgage, reached in the second quarter, was the lowest since Royal Bank started doing the study in 1985. Rates climbed to 5.73% in the third quarter for a five-year closed mortgage. The posted rate is generally at least one percentage point higher than what consumers can get on a discounted basis.

Prices have also been hit by supply shortages. New listings last month in the country's 25 largest markets were off 16% from a year ago. New-home construction is on the rise but has not been able to respond fast enough to meet demand.

Phil Soper, chief executive of Royal LePage Real Estate Services, expects the supply-side problem to improve in the spring, a time more families consider selling to coincide with the end of the school year. "It's a much more common time for people to list their homes than this time of year," said Mr. Soper. "I suspect the supply-side of this problem will ease considerably."

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Minto can go ahead and build 1,400 homes in the village of Manotick.

The Ontario Municipal Board told the Ottawa development company as much back in April, but the City of Ottawa appealed the decision.

On Friday, the Ontario Superior Court of Justice ruled 2-1 against the city and gave Minto the green light.

“The Board did not err in failing to have regard to the decision of council under s. 2.1 of the Planning Act. The appeal is dismissed,” the decision says.

The OMB’s original ruling said the Minto development “will not have an unacceptable adverse impact on the village character of Manotick, nor will it overwhelm the village if properly implemented.”

Rideau-Goulbourn Coun. Glenn Brooks, who represents Manotick, fought hard alongside two community associations to stop the development.

“I am disappointed and the residents are going to be disappointed,” said Brooks. “But I don’t think that it will come as a great surprise.”

Brooks said municipalities across the province will also be unhappy with the court’s decision because it puts community planning firmly in the hands of the OMB — “who may or may not know anything about the community” — instead of elected officials.

In an e-mail message to councillors, city solicitor Rick O’Connor said the judge who ruled in favour of the city said the OMB “had conducted itself as the primary decision maker and had substituted its decision for that of council such as being a stunning rejection of the movement towards greater municipal autonomy.”

O’Connor said the city’s legal department will review the decision and decide next week if it will launch an appeal.

Brooks wants nothing to do with another court battle.

“I wouldn’t want to go there,” he said.

Barrhaven Coun. Jan Harder said the issue should have been resolved sooner, which could have saved taxpayers more than $1 million in legal fees.

“This is no surprise,” said Harder. “We were told we never had a case to go forward with and we’ve wasted a whole bunch of taxpayers’ money — again.”

derek.puddicombe@sunmedia.ca

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Movie goers are seen at the start of a film screening at The Landmark Movie Theatre in Los Angeles on Friday, Aug. 14, 2009. (AP / Damian Dovarganes)

Constance Droganes, entertainment writer, CTV.ca

Date: Wed. Nov. 25 2009 6:42 AM ET

Movie magic always fuels the family fun during the holidays. From Oscar contenders to wacky comedies and sci-fi blockbusters, this season's must-see films put the festive spirit into your next family affair.

BLOCKBUSTER BETS 

"Avatar" (Dec. 18)

In his first movie since "Titanic," James Cameron packs this 3-D sci-fi epic with all the groundbreaking special effects US$230-$300 million dollars can buy. Cameron whisks audiences into a jungle-covered alien realm called Pandora. There, paralyzed Earthling Jake Sully (Sam Worthington) walks by assuming a genetically-bred hybrid body unique to this Eden. When the unwitting military scout falls for a local beauty (Zoe Saldana), he must choose sides in a battle that will decide the fate of Earth and this unspoiled haven.

• CTV.ca Trailers: Avatar

"Sherlock Holmes" (Dec. 25)

Director Guy Ritchie puts a slick, action-packed spin on Arthur Conan Doyle's famous sleuth, Sherlock Holmes. Starring Robert Downey Jr. as the legendary crime-fighter and Jude Law as his trusty sidekick, this dynamic retelling circa 1891 pits Holmes and Watson against dark forces out to destroy Great Britain. In unravelling this deadly plot, Holmes reveals some bad-ass fighting skills as lethal as his invincible intellect. Can Downey deliver? Elementary my dear film fans!

• CTV.ca Trailers: Sherlock Holmes

FAMILY FUN

"The Fantastic Mr. Fox" (Nov. 25)

Based on Roald Dahl's best-selling children's book, Wes Anderson's delightful film showcases the voices of George Clooney and Meryl Streep as Mr. and Mrs. Fox. Together with their son Ash (Jason Schwartzman), the three live an idyllic life tucked away in woods. When their goody-goody existence gets too unbearable, Mr. Fox slides back into his chicken thief ways. His naughty fun endangers his family and friends. But, Mr. Fox puts his foxy instincts to work to set things right. Fun for the whole family.

• CTV.ca Trailers: The Fantastic Mr. Fox

"The Princess and the Frog" (Dec. 11)

Featuring its first African-American princess, Walt Disney's latest heroine (Anika Noni Rose) meets a frog prince who is desperate to be human again. When an unexpected kiss turns their lives upside down, the pair takes a roller-coaster adventure through the bayous of Louisiana. Thanks to a love-struck Cajun firefly, a trumpet-playing alligator and a 197-yearold voodoo priestess, the plucky travellers make it to New Orleans and see their dreams come true in a fun-filled Mardi Gras finale. Full of great tunes and Disney's classic magic.

• CTV.ca Trailers: The Princess and the Frog

"Alvin and the Chipmunks: The Squeakquel" (Dec. 25)

Alvin (Justin Long), Simon (Matthew Gray Gubler) and Theodore (Jesse McCartney) return in this live-action, CGI sequel to 2007's "Alvin and the Chipmunks." Putting aside superstardom to return to school, these pop sensations soon become the school's only hope to save its music program. But, the boys face some stiff competition from the girl-band, The Chipettes. A nutty square-off made in chipmunk heaven.

• CTV.ca Trailers: Alvin and the Chipmunks: The Squeakquel

OSCAR-BOUND DRAMAS 

"The Road" (Nov. 27)

Delivering the performance of his career, Viggo Mortensen's stars in John Hillcoat's heart-wrenching film about a father and son travelling across America after a mysterious cataclysm renders it lifeless. Based on Cormac McCarthy's book, "The Road" goes where no other films dared venture in 2009. As this starving pair journey through cannibals and other horrors, "The Road" transforms a post-apocalyptic morality tale into one of the best odes to father/son love ever captured on film. Mortensen deserves the Oscar for this one.

• CTV.ca Trailers: The Road

"Brothers" (Dec. 4)

Oscar-worthy work abounds in this explosive drama starring Natalie Portman, Jake Gyllenhaal and Tobey Maguire. When a decorated Marine (Maguire) goes missing in Afghanistan, his jailbird brother (Gyllenhaal) consoles the young widow and mother (Portman). Their guilty, needy attraction is never consummated. But, when the "dead" marine is shipped back alive, suspicions and post-traumatic stress turn this hero's return into a nightmare. Maguire's unhinged descent into madness puts a chilling face on America's war on terror. Ace acting all the way!

• CTV.ca Trailers: Brothers

"Up in the Air" (Dec. 4)

More slick, screwball dramedy than first-class drama, George Clooney's turn as a corporate downsizing expert who loves the road is earning the Hollywood hunk and director Jason Reitman considerable Oscar buzz. Is "Up in the Air" really worthy of an Oscar? That remains to be seen, given this year's other top contenders. For now, settle in, belt-up and enjoy a fun ride in the skies with Gorgeous George.

• CTV.ca Trailers: Up in the Air

"Everybody's Fine" (Dec. 4)

Forget those formulaic police dramas and cheesy comedies ("Meet the Fockers") Robert De Niro has starred in lately. This acting great delivers one of his best, most refined performances in years in this remake of Giuseppe Tornatore's 1990 film, "Stanno Tutti Bene." As a lonely widower, De Niro takes an impromptu road trip to reconnect with his grown, troubled children. His emotionally-charged journey reveals that life and people are never perfect. It also reveals that De Niro's still got the chops to earn Oscar buzz.

• CTV.ca Trailers: Everybody's Fine

"Invictus" (Dec. 11)

After the fall of apartheid in South Africa, President Nelson Mandela campaigned to host the 1995 Rugby World Cup to unite his country. Mandela's inspirational jockeying drives "Invictus," Clint Eastwood's latest Oscar contender. Based on John Carlin's book, "Playing the Enemy: Nelson Mandela and the Game That Changed a Nation," Morgan Freeman delivers a superb turn as the barrier-breaking politician. Matt Damon also shines as the South African team captain who leads his players to an unprecedented win. Our bet's on an Oscar nod to make Clint's day.

• CTV.ca Trailers: Invictus

"A Single Man" (Dec. 11)

Fashion designer Tom Ford scored a kick-ass directorial debut with "A Single Man." But, the film's real glory goes to leading man Colin Firth. Based on the novel by Christopher Isherwood, Firth portrays a 52-year-old gay professor who cannot find the meaning in his life after the death of his lover (Matthew Goode). Told in a single day, Firth blows it out of the ballpark as a broken soul who can't and won't see his future without love. Dust off that tuxedo, Colin. You're going to the Oscars!

"Broken Embraces" (Dec. 25)

Penélope Cruz, Pedro Almodóvar's favourite muse, is poised to earn a Best Actress nod for this slick little thriller about passion gone terribly wrong. The Spanish flick unfolds as a blind screenwriter (Lluìs Homar) recounts a long-ago love affair with an ambitious ingénue (Cruz). Casting the girl in the movie of his career, the two succumb to temptation. But, trouble quickly finds them once her sugar daddy learns of their deceit and makes them pay. Oscar will find it hard to resist such Cruz control.

COMIC CAPERS

"Old Dogs" (Nov. 25)

This early holiday treat from Walt Disney Pictures is just what the family ordered on a cold winter's night. A romantically-challenged divorcé (Robin Williams) and an impetuous bachelor (John Travolta) are about to make the business deal of their lives. But, their world is turned upside down when they are charged with the care of six-year-old twins (Ella Blue Travolta, Conner Rayburn). The pals bumble everything, yet come out winners once they learn what matters most in life. Big laughs for the whole family.

• CTV.ca Trailers: Old Dogs

"It's Complicated" (Dec. 25)

Meryl Streep becomes the other woman in this breezy holiday ride. After a decade of amicable divorce, Jane (Streep) and her remarried husband (Alec Baldwin) travel out of town for their son's graduation. A dinner for two quickly turns into an unexpected affair. Should they move on? Should they grab at this second chance at love? The whole mess wreaks unimaginable havoc on their lives and those of their new love interests. Good laughs from a golden cast.

• CTV.ca Trailers: It's Complicated

"Did You Hear About the Morgans?" (Dec. 18)

Hugh Grant and Sarah Jessica Parker team up as a Manhattan couple headed for divorce in this holiday caper When they accidentally witness a murder and are targeted by a contract killer, the unhappy duo are whisked off by the Feds to Wyoming. There, a BlackBerry-free existence forces them to slow down the craziness of their lives and renew their love. The perfect holiday date-night flick.

• CTV.ca Trailers: Did You Hear About the Morgans

ROMANCE

"The Young Victoria" (Dec. 18)

The costume drama of the season, Emily Blunt and Rupert Friend resurrect the real-life love affair between Queen Victoria and Prince Albert in "Young Victoria." Big, stately mansions and romantic garden walks. Queen-size ball gowns skirted by the politics of courtly love. Romance lovers will eat this chick flick up, and sigh with every swoony look Friend tosses Blunt's way in this historical bit of eye candy.

FANTASY/MUSICAL/THRILLER

"The Imaginarium of Dr. Parnassus" (Dec. 25)

Featuring Heath Ledger's final performance, Terry Gilliam's fantastical morality tale about dealing with the devil is full of dark, deep secrets to amuse holiday moviegoers. With his extraordinary travelling show, Dr. Parnassus guides crowds through wild, imaginary adventures that pit good and against evil. As he plays with their minds, his own sordid past is revealed. Johnny Depp, Colin Farrell, Jude Law and Christopher Plummer turn this bold bit of moviemaking into a daring ride.

• CTV.ca Trailers: The Imaginarium of Dr. Parnassus

"Nine" (Dec. 25)

Daniel Day-Lewis helms a golden cast in this gutsy musical about an Italian director who struggles with epic creative troubles while he juggles the women in his life. These disquieting babes include his wife (Marion Cotillard), his mistress (Penélope Cruz), his film star muse (Nicole Kidman), his confidante and costume designer (Judi Dench) and his mother (Sophia Loren). Mamma mia! Bets are on Cotillard and Day-Lewis to nab Oscar nods for this quirky look at the true cost of fame.

• CTV.ca Trailers: Nine

Leo and Angelika Rosato 613-720-4888

Friday, November 27, 2009 | 04:10 PM ET "Come on already, let's go!" Do these words propel you toward the remote control as they echo throughout your household? Well, you can give the mute button a rest for now: Miss Road Rage, the shrewish star of Grey Power's auto insurance commercials, is being retired. And apparently, her demise couldn't come too soon. On Nov. 26 we asked how you felt about the TV spot and you weren’t shy about saying goodbye! Goodbye Grey Power lady One user summed it up quite appropriately with a sentiment to match the advertisement's message. "This Commercial GIVES me ROAD RAGE," says Becca Byce. Others were equally as thrilled to see the commercial gone. "I remember this commercial of "Miss Road Rage," and I never knew it was an ad for Grey Power Insurance. I found it so annoying that I always switched the channel when it came on," says ChaiTai. But one voice spoke up for Miss Road Rage – a match made in highway heaven? "I want to marry the lady in the story photo, she's my kind of Gal!! Get out of the way if you cant drive," says pete2222. Cream cheese and Sham Wows and bears, Oh My! We also asked you to share your least favourite commercials. More than 200 of you offered up your picks for the best of the worst, ranging from toilet-happy bears to heavenly cream cheese. "Time to put the 'Avioning' guy on the No Fly List," punned ardybob. Well played, ardy, well played. "Guaranteed to make me want to stab my eye out every time - the Philly Cream Cheese lady has got to go. They haven't changed up that commercial since I was a kid and I'm 33 now. She's still a cute lady and all, but its just been WAY TOO LONG," declares jovo442. Agreed jovo, that commercial has been on forever. But I'd love to know what products the female lead uses because I swear she hasn't aged a day. This next comment is my pick of the bunch as I too have often wondered whatever became of young Patrick. "I'd love the Norege Union commercials to come back. I always wanted to know what happened to Patrick after he got his life insurance. Maybe he died due to boredom after watching the road rage lady too many times, resulting in his family getting three times his normal benefits, " says John D. Lite. Battle of the sexes While most of you agreed there were a lot of annoying commercials on TV, the overwhelming response was not about the products but the way men and women were portrayed and the various stereotypes advertisers employ when targeting the sexes. "100% agreed with the commentators who voiced their disgust with the ads that make men look ridiculous, while women are made to appear pristine and in total control. Sexist and not funny even to most women I know," says Nick1973. "Please take off the myriad of commercials depicting men as cheap, unintelligent, stereotypical morons," echoes Slipjig. "I see harm in advertising that encourages women to have a happy period …When women or men are demeaned at the expense of advertising a product, I make sure I do not purchase that product, " states SFrederiks. Make sure to read the full entry for all of your great comments, and add your own thoughts. P.O.V.: What TV spots would you like to see retired? What do you think about advertising? What commercials drive you crazy?

Leo and Angelika Rosato 613-720-4888

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To laugh often, to win the admiration of intellegent people and the affection of children, to earn the respect of honest critics and endure the betrayal of false friends, to apprehend beauty, to find the best in others, to leave this world a bit better whether by a healthy child, a garden patch or a redeemed social condition, to know that even one life has breathed easier because you have lived...that is to have succeeded...Ralph Waldo Emerson

Last Updated: Friday, November 27, 2009 | 4:28 PM ET Comments61Recommend42CBC News Shoppers wait for doors to open at Nebraska Furniture Mart on Black Friday in Kansas City. (Associated Press)Some Canadian retail chains are planning big price cuts this weekend in an effort to keep customers from crossing the U.S. border to take advantage of Black Friday bargains. Wal-Mart's Canadian subsidiary has announced it will drop prices on some items. Sears Canada and Future Shop are also planning big weekend sales to hold on to shoppers. "Everyone likes a good deal and we recognize that," Elliott Chun, Future Shop's communication manager, said in an interview with CBC News. The electronics retail chain is cutting prices over the weekend on everything from video games to washers and dryers, although Chun said he did wonder if people would go all the way to the U.S. to buy such large items. "The customer has to ask themselves … there's the cost of the gas, then the time and effort to cross the border. And then there's a chance you won't get your hands on the product you want," said Chun. "We're just doing our best to give Canadians an opportunity to stay here and shop, and hopefully shop at Future Shop." Border business Windsor retailers don't dread Black Friday, as much as one would think, given the city's proximity to Detroit across the river. "Traditionally Black Friday is an American holiday, but we do get the spinoffs," said Blair Gagné, manager of the Windsor Crossing outlet mall. "The people who wake up at 5:30 in the morning and go shopping in the states. They come back over here because they're still in the mood to shop." "We find that mall tenants have provided more discounts here than they have in the past, and it's really benefited us. Our traffic has been up, our sales have been up, and people are looking for that bargain," said Gagné. Some Canadian shoppers were content to leave the hassle of cross-border lineups to others. "I was not very interested to go over, being that what I need to get is here. Again, I'm a Canadian. If I do something here, that will make me happy, using my money here. I'm living here," said Windsor resident Shah Alam. However, CBC's Dennis Porter said plenty of Canadians were prepared to make the trip and boost the U.S. economy in the process. "It's close enough that a lot of Canadians can actually go over to Detroit, take advantage of some of the great deals overnight and be back in Windsor in time to go to work this morning," said Porter. "A lot of the products are about 50 per cent less in Detroit [on Black Friday] than they are in Windsor, even in the same store," said Porter. "So, for instance, at Wal-Mart, in the U.S., they have a laptop for $200 US. In Canada, at Wal-Mart, that same laptop about $370." On Friday, retailers across the U.S. opened as early as midnight for the busiest shopping day in the U.S. Black Friday, the first Friday after the American Thanksgiving, marks the beginning of the Christmas shopping season and is considered the day when store ledgers are pushed into "the black," or profitability. Sales during Black Friday and the weekend following can account for as much as 40 per cent of annual sales and profits for many stores. Shopping mobs U.S. retailers now mark the day by offering low prices on a range of products, and mobs of shoppers who want to take advantage of the bargains line up hours before stores open. Some people even camp out overnight. Last year, a Wal-Mart employee was trampled to death as shoppers stampeded into a store at Valley Stream, N.Y. This year was tamer, with few injuries reported across the U.S. At the Toys "R" Us store in Manhattan's Times Square, people lined up 200 deep in anticipation of the midnight opening — five hours earlier than a year ago. Some were tourists who got in line right after watching the Macy's Thanksgiving Day Parade; others were New Yorkers wanting to get a good deal on game systems or get their hands on this year's toy craze, Zhu Zhu Pets robotic hamsters. In suburban Cincinnati, shoppers began streaming into a Wal-Mart Supercenter around midnight to pick up tickets that can be traded directly at the register for certain big items like sale-priced televisions and computers. The tickets, which usually have an expiry time, are used by some stores as a way of limiting the chaos inside the store and streamlining the purchase of some popular items. By 4 a.m. shoppers were packed into the Wal-Mart alongside shrink-wrapped merchandise, including toys, that was not to be unveiled until 5 a.m. Most of the low prices had an expiry time of 11 a.m. "The economy has affected my shopping," said Patricia Foy of Cincinnati who had been at the store since 11:30 p.m. Thursday with her three daughters and four granddaughters. "I wanted to get out and get the good prices. "I'm mostly shopping for my kids and grandkids, but I also decided to treat myself this year, because I'm one of the lucky ones. I've still got a job." After suffering the worst sales decline in several decades last holiday season, the good news is that the U.S. retail industry is heading into the Christmas selling period armed with lean inventories and more practical goods on their shelves that reflect shoppers' new mood. The promotional blitz typical for the traditional start of the holiday shopping season has high stakes for retailers who've suffered through a year of sales declines. It's also important for the broader economy, which could use a kick-start from consumer spending.

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