Latest news with #JustinSherwood
Yahoo
03-06-2025
- General
- Yahoo
Frohn Township home suffers major damage after fire
Jun. 2—BEMIDJI — A house in Frohn Township has suffered extensive damage after a fire broke out on Saturday morning in Bemidji. According to a release from Bemidji Fire Chief Justin Sherwood, at 10 a.m. on Saturday, May 31, firefighters responded to reports of a structure fire along Martin Lane SE in Frohn Township. Upon arrival, firefighters discovered a single-story house with heavy smoke and flames visible from the roof and rear of the home, the release said. A nearby vehicle and garage were also on fire. Initial crews pulled a 2 1/2-inch pre-connected attack line and started a transitional attack at the back of the home. As more crews arrived on scene, additional lines were placed in service and aided in the extinguishment of the fires. A total of 24 firefighters and eight pieces of equipment were on the scene for approximately three hours. The home and its contents suffered extensive damage. No injuries have been reported. The fire is currently under investigation, but it appears to have been accidental, the release said. The Bemidji Ambulance Service, Bemidji Police Department, Beltrami County Sheriff's Office, Minnesota State Fire Marshal's Office, American Red Cross, and Beltrami Electric assisted the Bemidji Fire Department at the scene. The family has started a GoFundMe page to raise donations. To donate, visit
Yahoo
03-06-2025
- General
- Yahoo
Frohn Township home suffers major damage after fire
Jun. 2—BEMIDJI — A house in Frohn Township has suffered extensive damage after a fire broke out on Saturday morning in Bemidji. According to a release from Bemidji Fire Chief Justin Sherwood, at 10 a.m. on Saturday, May 31, firefighters responded to reports of a structure fire along Martin Lane SE in Frohn Township. Upon arrival, firefighters discovered a single-story house with heavy smoke and flames visible from the roof and rear of the home, the release said. A nearby vehicle and garage were also on fire. Initial crews pulled a 2 1/2-inch pre-connected attack line and started a transitional attack at the back of the home. As more crews arrived on scene, additional lines were placed in service and aided in the extinguishment of the fires. A total of 24 firefighters and eight pieces of equipment were on the scene for approximately three hours. The home and its contents suffered extensive damage. No injuries have been reported. The fire is currently under investigation, but it appears to have been accidental, the release said. The Bemidji Ambulance Service, Bemidji Police Department, Beltrami County Sheriff's Office, Minnesota State Fire Marshal's Office, American Red Cross, and Beltrami Electric assisted the Bemidji Fire Department at the scene. The family has started a GoFundMe page to raise donations. To donate, visit
Hamilton Spectator
31-05-2025
- Business
- Hamilton Spectator
Toronto-area new home sales are worse than during the 1990s housing market crash
New home sales in the Toronto area marked a seventh consecutive month of record all-time lows, eclipsing the 1990s downturn when the housing market crashed. During the 1990s housing crash — which lasted roughly from 1989 to 1996 — at the bottom of the market there were six consecutive months of record low sales, and sales were around double what they are today, according to the Wednesday report from the Building Industry and Land Development Association's (BILD), which called on the federal government to expand its GST relief to all new home purchasers. There were 310 new home sales in April, down 72 per cent from April 2024 and 89 per cent below the 10-year average. Historically, new home sales for a typical April in the GTA would be 2,750 units based on the previous 10-year average. 'April 2025 new home sales across the GTA have extended the slowest period of sales on record,' said Edward Jegg, research manager at Altus Group, BILD's source for new home market data. 'Buyers crave predictability and the swirling uncertainty around the impact of possible tariffs is depriving would-be purchasers of the confidence they need to move ahead.' Broken out by housing type, condos performed the worst with 105 units sold in April, down 80 per cent from April 2024 and 94 per cent below the 10-year average. Condos include units in low, medium and highrise buildings. There were 205 single-family home sales in April, down 66 per cent from April 2024 and 77 per cent below the 10-year average. Single-family homes include detached, linked and semi-detached houses and townhouses. The benchmark price for new condos was $1.019 million — down 3.6 per cent over the last 12 months; while the benchmark price for new single-family homes was $1.53 million, down 5.4 per cent over the last 12 months. Total new home remaining inventory decreased slightly compared to the previous month. The inventory level — the time it would take to sell inventory on the market based on current demand — is 15 months. A healthy market level is around nine to 12 months. 'Because of the time lag between sales, starts and then finally adding new home supply to existing housing stock, the public is insulated at present from the magnitude of what is unfolding in the GTA market,' said Justin Sherwood, senior vice-president of communications, research, and stakeholder relations at BILD. 'The new housing industry is decelerating quickly and a massive supply deficit in the 2027 to 2029 period is taking shape.' The number of completed condo units in the Greater Toronto and Hamilton Area will plummet after 2025 , which is set to achieve the highest number of completions at 30,793, according to real estate research firm Urbanation. But in 2028 the number of forecasted completions is 9,561. BILD argues to build more housing, the federal government must expand its GST cut for all home purchasers, not just first-time homebuyers. On Tuesday, the Liberals tabled legislation for a GST cut limited to new homes under $1 million for only first-time buyers (saving up to $50,000), while lowering the rate for first-time buyers of homes that cost between $1 million and $1.5 million. 'Yesterday the federal government tabled its proposed measures to provide GST(HST) relief to first-time new home buyers. Unfortunately, this limitation to first-time buyers only will have a very small impact, as a very few new home buyers are first time buyers. It will not substantially help address affordability, nor will it help significantly stimulate sales and construction,' Sherwood said.
CTV News
29-05-2025
- Business
- CTV News
Seventh consecutive month of record all-time lows for new home sales in GTA eclipses 1990s downturn
New home sales in the GTA hit a seventh consecutive month of record all-time lows according to a new report, eclipsing the 1990s downturn. The report from the Building Industry and Land Development Association (BILD) said that there were 310 new home sales in April in the region, which is down 72 per cent from April 2024 and 89 per cent less than the 10-year average. 'Historically, new home sales for a typical April in the GTA would be 2,750 units based on the previous 10-year average,' it read. Condos, including units in low, medium and high-rise buildings, accounted for just 105 units sold in the GTA in April, down 80 per cent from the same time last year and 94 per cent below the 10-year average. 'April 2025 new home sales across the GTA have extended the slowest period of sales on record,' said Edward Jegg, the research manager at Altus Group, which is BILD's source for new home market data. 'Buyers crave predictability and the swirling uncertainty around the impact of possible tariffs is depriving would-be purchasers of the confidence they need to move ahead.' As for single-family home sales, the report says there were only 205 such sales in the GTA in April, down 66 per cent from last year. 'The government has reaped billions in additional tax revenue on new homes by not indexing GST price rebate thresholds since 1991 and instead has created a new mechanism that will apply to very few purchasers,' Justin Sherwood, BILD's senior vice-president of communications, research, and stakeholder relations, said in reference to proposed measures from the federal government to provide GST relief to first-time new home buyers. 'In order to have maximum impact and address the effects of GST/HST on eroding home affordability, the federal government must broaden the scope of the GST (HST) measures to all new home purchases.' The report also said that benchmark prices decreased in April for both single-family homes and condos in the GTA compared to the previous year. The benchmark price for new condos was $1,019,120, down 3.6 per cent, while the benchmark price for new single-family homes was $1,530,126, down 5.4 per cent.
CTV News
28-05-2025
- Business
- CTV News
Seventh consecutive month of record all-time lows for new home sales in GTA eclipses 1990s downturn
New home sales in the GTA hit a seventh consecutive month of record all-time lows according to a new report, eclipsing the 1990s downturn. The report from the Building Industry and Land Development Association (BILD) said that there were 310 new home sales in April in the region, which is down 72 per cent from April 2024 and 89 per cent less than the 10-year average. 'Historically, new home sales for a typical April in the GTA would be 2,750 units based on the previous 10-year average,' it read. Condos, including units in low, medium and high-rise buildings, accounted for just 105 units sold in the GTA in April, down 80 per cent from the same time last year and 94 per cent below the 10-year average. 'April 2025 new home sales across the GTA have extended the slowest period of sales on record,' said Edward Jegg, the research manager at Altus Group, which is BILD's source for new home market data. 'Buyers crave predictability and the swirling uncertainty around the impact of possible tariffs is depriving would-be purchasers of the confidence they need to move ahead.' As for single-family home sales, the report says there were only 205 such sales in the GTA in April, down 66 per cent from last year. 'The government has reaped billions in additional tax revenue on new homes by not indexing GST price rebate thresholds since 1991 and instead has created a new mechanism that will apply to very few purchasers,' Justin Sherwood, BILD's senior vice-president of communications, research, and stakeholder relations, said in reference to proposed measures from the federal government to provide GST relief to first-time new home buyers. 'In order to have maximum impact and address the effects of GST/HST on eroding home affordability, the federal government must broaden the scope of the GST (HST) measures to all new home purchases.' The report also said that benchmark prices decreased in April for both single-family homes and condos in the GTA compared to the previous year. The benchmark price for new condos was $1,019,120, down 3.6 per cent, while the benchmark price for new single-family homes was $1,530,126, down 5.4 per cent.
