SpotlightAugust2018

TRANS MOUNTAIN TO BEGIN CONSTRUCTION ON PIPELINE EXPANSION AFTER NEB APPROVAL T he National Energy Board gave Trans Mountain Pipeline ULC the green light for construction to start on sections of its pipeline expansion in Alberta and British Columbia. The NEB says in a statement that Trans Mountain has met all applicable pre-construction condition requirements for so-called segments one to four from the Edmonton terminal to its Darfield pump station near Kamloops, B.C.

The NEB has approved 72 per cent of the entire detailed route and will allow Trans Mountain to begin construction, includ- ing clearing right of way — subject to other government permits and regulations.

However, there are still two active hearings remaining for some segments and construction and work that relates to these areas is not permitted pending hearings for the final segment that are scheduled to begin in Chilliwack, B.C. in October.

ARE DECLINING REAL ESTATE SALES GOING TO TRANSLATE INTO FALLING PRICES?

sales and prices were up, recovering from weakness in the first two months of the year and have yet to recover from a decline of 20 percent last year that saw prices drop by about 5 percent for the Toronto market. Canada’s Construction Industry is a leader in providing jobs. So, factors that effect this industry concern econo- mists as it can have a major impact on the economy overall. marketing. Prospective buyers do not mind that prices are falling, but it can also affect their decision to purchase as the combination of rising rates and sharply falling home prices could make them delay their purchase. Current home owners and those looking to sell take a much different view with falling prices as it affects a major investment and even though prices usually bounce back, but that can take years. News of declining housing prices has different effects depending on your position in the

Buyers, owners, professionals and economists wait anx- iously for latest clues on real estate future.

The Canadian real estate industry is used to snubbing lowering predictions for the market, but it seems that buyers, owners, professionals and economists are looking to see what the future holds as real estate industry sales continue to decline. Everyone expected the rise in Canadian house prices to come to an end, but many were hoping that it would not be so soon. Well with the latest figures from both Van- couver and Toronto, which come out before the national data, indicate the boom is over. Vancouver showed the lowest July sales in 17 years. In Toronto, seasonally adjusted

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AUGUST 2018 • SPOTLIGHT ON BUSINESS MAGAZINE

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