Business& Careers

CLASSIFIED B6
SECTION B
THURSDAY
JULY 15, 2010
thestar.com

MARKET WATCH
AIRLINE MERGER
S&P/TSX COMPOSITE DOW JONES INDUSTRIALS
British Airways and Iberia have -52.68 to 11,620.16 3.70 to 10,366.72
won European Union regulatory -0.45%
CANADIAN DOLLAR OIL
0.4%

approval to partner, B4 -0.04¢ U.S. to 96.70

$1 U.S.=$1.0341
11¢ U.S. a barrel
to $77.04
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REAL ESTATE TECHNOLOGY

Bouncing back in a big way Sweet news:

RIM rebirth
Mississauga,
Markham top GTA
LORNE PARK in the offing
$880,373
neighbourhoods for AVERAGE HOME PRICE

price appreciation 30.2%

in first half of 2010 INCREASE FROM 2009

DAVID OLIVE
TONY WONG
BUSINESS REPORTER

I
nvestors in BlackBerry maker
On a sunny weekend, David Ferrari Research in Motion Ltd. have
will take a knapsack with some food been fretting about the compa-
and a book and bike to the beach in ny’s depressed stock price. And
Mississauga’s Lorne Park neigh- they worry about RIM’s market-
bourhood. share losses to Apple Inc.’s latest
“It really feels great to just sit by iPhone and to other rival smart-
the water in this special place,” says phones powered by Google Inc.’s
Ferrari, a real estate broker. In the Android technology.
10 years since he set up a popular But they didn’t show up Tuesday
brokerage in the area, Ferrari has at the RIM annual shareholders
seen Lorne Park become what meeting near the firm’s Waterloo,
some people have dubbed the new Ont., headquarters with rotten
Oakville. fruit to launch at the head table.
Bungalows, typically on large lots Here are some reasons why:
of at least 70 feet wide, are being A new RIM on the horizon. The
torn down for monster homes as BlackBerry is finally distancing
buyers discover the tree-lined itself from its origins as a secure
neighbourhood on Lake Ontario. email device. Its vulnerability to
Move-up buyers dominated the the Apple-Android onslaught has
Greater Toronto Area housing mar- been a deficient touch screen and
ket in the first half of the year, with web browser capability.
the suburbs experiencing the great- Those will be corrected in a new
est price appreciation, according to BlackBerry 6 smartphone to be
a study by ReMax Ontario Atlantic This home in Mississauga’s Lorne Park neighbourhood is listed for $8.9 million.
TORONTO STAR STAFF PHOTO released later this year. Co-CEO
Canada released Wednesday. Mike Lazaridis says of the new
Lorne Park led in terms of per- device that: “Once you see it, you
centage increase for average prices Top 5 areas with most appreciation in 2010 will see how unique and compel-
with a 30.2 per cent gain in the first ling it is.”
half of this year compared with 2008 2009 2010 He would say that, of course. But
2009, according to ReMax. The DETACHED HOMES Average price Average price % change Average price % change a PC World reviewer agrees. After
average price of a detached home in Lorne Park (W13) $830,041 $676,289 -18.5% $880,373 30.2% studying teaser videos on the
the upscale west-end area is now Markham (N01) $683,050 $610,322 -10.6% $779,168 27.7% BlackBerry 6 released last week,
$880,373 verses $676,289 in 2009. the authoritative journal wrote:
But the area also has many ultra- Armour Heights, Bathurst Manor (C06) $589,808 $574,599 -2.6% $732,535 27.5% “The new home screen looks awe-
high-end homes. One of the most Creditview, Erindale (W16) $476,877 $444,221 -6.8% $561,973 26.5% some and ‘fluid’ . . . Both of the
expensive is on the market for $8.9 York Mills, Hogg's Hollow, Bridle Path (C12) $1,580,851 $1,480,296 -6.4% $1,868,591 26.2%
BlackBerry OS6 (the forthcoming
million. The 10,000-square-foot device’s new operating system) and
contemporary home was used as a CONDOS AND TOWNHOUSES
BlackBerry Protect (a free applica-
rental by the Rolling Stones when tion whose lost-and-found feature
they were in town for a concert. The Danforth, East York (E03) $195,019 $173,508 -11.0% $222,421 28.2% enables you to locate a lost smart-
“This is one of the nicest areas in Yorkville (C02) $619,151 $533,302 -13.9% $653,745 22.6% phone or wipe out its confidential
the GTA,” says Michael Polzler, ex- Markham (N01) $276,492 $272,316 -1.5% $332,590 22.1% data remotely) look like they could
ecutive vice-president of ReMax. become essential tools for Black-
“It’s a very desirable neighbour- Bayview Village (C15) $280,292 $276,708 -1.3% $331,063 19.6% Berry aficionados.”
hood of gracious homes that is rela- North York (C14) $307,717 $304,342 -1.1% $363,685 19.5% RIM is also rumoured to have a
tively close to the downtown core.” tablet computer in the works.
SOURCE: RE/MAX, Toronto Real Estate Board TORONTO STAR GRAPHIC

GAINS continued on B2 BLACKBERRY continued on B2

ECONOMY

No double dip, but Canadian growth to slow

Conference Board says
we will avoid recession
but consumer spending
will ease amid worries
about U.S., Europe
MADHAVI ACHARYA-TOM YEW
BUSINESS REPORTER
Canada’s economy will lose steam
through the second half of this year,
but it will avoid a dreaded “double
dip” recession, according to a re-
port from the Conference Board of
Canada.
Real gross domestic product is ex-
pected to increase by 3.6 per cent
this year, with much of the gain
coming in the first six months of
2010, the Ottawa-based think tank
predicted in the summer edition of
its quarterly outlook.
That will slow to 2.9 per cent in
2011, with a slightly better perfor-
mance expected for 2012.
The risks to Canada’s economic
recovery come mostly from outside
its borders, said the report released
Wednesday.
“Overexuberance in the first few
months of 2010 has been dampened
by concern over the European debt
crisis, lagging U.S. employment and
slower industrial production in
China,” the report said.
“Still . . . our sense is that the glob-
al and U.S. economies will adhere to
a steady path of growth and recov-
ery, and that the chances of a feared
‘double dip’ recession are remote.”
The U.S. economy is about one
year into its recovery, and real GDP
is expanding at an annualized rate
of about 3 per cent, the conference
board said.
CONFERENCE BOARD continued on B2

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