The suburbs of Canada’s three largest cities are fuelling an uptick in home construction, according to the Canada Mortgage and Housing Corporation (CMHC).
In two reports released Monday, the federal housing agency said the number of move-in ready homes outside of city centres in Toronto, Montreal and Vancouver has begun soaring. The number of urban properties starting construction is also edging up.
The availability of lots and affordable prices are pushing up housing completions in a roughly 30-kilometre radius outside the city centres, according to CMHC.
The number of housing completions has peaked in areas between 20 and 30 kilometres from Toronto and Vancouver’s city centres, while Montreal’s peak is even further, at above 30 kilometres, the agency said.
“Montreal has seen the strongest pattern for suburbanization, with the level of housing supply increasing with distance from the city centre and decreasing with population density,” one report said.
Sprawl more limited in Vancouver
“Like Montreal, Toronto has experienced urban sprawl with a high level of housing development in remote suburbs,” the report said. “However, Toronto has also seen a boom in housing construction in its active core.”
Urban sprawl is more limited in Vancouver because the area has a relatively stable level of construction in its urban areas, CMHC said.
Its study found that construction activity was the lowest between five and 10 kilometres outside the city centres it studied.
Condos were responsible for the bulk of completions close to the city centre, in comparison to single-family, semi-detached, row houses and rental units, which dominated elsewhere.
As one moves further away from the city centre, the condominium supply mainly decreases in Toronto and Montreal, CMHC said.
The trends are leading to two challenges.
“First, the increasing trend toward suburbanization may accelerate housing external costs (infrastructure investments, roadway congestion and greenhouse gas emissions),” the report said.
“Second, the relatively low level of housing development in low-income areas in Montreal (and to a lesser degree in Toronto) may indicate affordability challenges in those neighbourhoods.”
The average family income in the Toronto, Vancouver and Montreal areas were respectively $98,635, $89,300 and $78,400, said CMHC.
When income rises in a city, so does the desire to relocate, CMHC said.
Since housing per square foot is cheaper at greater distances, consumers have an incentive to move to less central locations in order to buy a bigger dwelling, it said.
This leads to the richest families living in the suburbs, despite longer travel times.
CMHC’s insights into housing completions came as it announced that the annual pace of housing starts rose 23.1 per cent in January, as single-family homes in Montreal started to reach their highest level since February 2008.
The seasonally adjusted annual rate of housing starts rose to 282,428 units in January.
Urban starts were up 27.7 per cent to 266,877 units, as starts of multi-unit buildings in cities rose 24.1 per cent to 193,328 units, and starts of single-family homes in cities rose 38.1 per cent to 73,549 units.
Rural starts were estimated at a seasonally adjusted annual rate of 15,551 units.
The month’s figure included housing starts from Kelowna, after the region wasn’t surveyed in December due to the COVID-19 pandemic.
The annual pace of housing starts excluding Kelowna was 281,389 units in January, up 22.7 per cent from 229,350 units in December.
The six-month moving average of the monthly seasonally adjusted annual rates of housing starts was 244,963 units in January, up from up from 238,747 units in December.
Is a single COVID-19 vaccine dose enough for those previously infected? – Global News
A new letter by two Canadian experts published in the New England Journal of Medicine (NEJM) last week stated that with a 92.6 per cent efficacy, the first dose of the Pfizer vaccine was “highly protective.”
During a news conference on Feb. 18, Dr. Howard Njoo, Canada’s deputy chief public health officer, said that according to early data, the indicators are that there is a “good level of protection” after just one dose.
How COVID-19 vaccination plans are evolving in Quebec, Ontario
France’s health authority, H.A.S., has gone one step further in recommending that everyone who has been previously infected with COVID-19 receive a single shot, instead of the two-dose regimen prescribed by vaccine makers Pfizer and Moderna.
The recommendation made on Feb. 12 says the single booster shot should be given three to six months after COVID-19 infection.
The reasoning, according to H.A.S., is that people who have had a confirmed infection should be considered protected for at least three months by post-infection immunity, whether the disease was symptomatic or not.
“It is an interesting approach to take,” said Rowland Kao, professor of veterinary epidemiology and data science at the University of Edinburgh in Scotland.
“And you would expect that natural immunity will give you .. a more broad response (than the first dose) because it is the original virus that is causing it.”
Pfizer-BioNTech COVID-19 vaccine 80-90% effective after 1st dose
A spokesperson for H.A.S. told Global News that the French health minister has yet to make a decision on the recommendation. For now, France is giving two shots for both the Pfizer and Moderna vaccine.
Amid shortages in vaccine supplies and a rush to control the pandemic, some experts say this strategy is worth considering as it could potentially save precious doses.
Dr. Gerald Evans, chair of infectious diseases at Queen’s University in Kingston, Ont., said a single dose of vaccine in someone previously infected is “reasonable while we continue to have a short supply of vaccine globally.”
Two small studies in the United States by Mount Sinai and the University of Maryland showed a single dose in people who had COVID-19 provided at least the same amount of protection as two shots in people who haven’t been infected. The data has not yet been peer-reviewed.
“You could treat getting COVID-19 as like getting your first dose of vaccine,” said Dr. Zain Chagla, an infectious diseases physician at St. Joseph’s Healthcare in Hamilton.
A single dose could serve as a booster to get the “prime long-term response,” he told Global News.
“You could definitely save on vaccine supply with these mRNA vaccines by only giving those individuals a single dose moving forward.”
Some Canadian provinces have decided to delay giving the second dose, which some experts have called a “risky approach” and “a gamble.”
Last week, New Brunswick health officials said the province will delay the second dose of the Pfizer-BioNTech vaccine for those who are considered to be at a lower risk.
In mid-January, Quebec announced that it was pushing the time between the two doses to a maximum of three months in an attempt to vaccinate more seniors faster with a first injection.
Vaccine manufacturers Pfizer and Moderna propose intervals of 21 and 28 days, respectively.
Why is Health Canada taking so long to approve the AstraZeneca vaccine?
In its recommendation for the previously infected, France’s H.A.S. says people who have proven immunosuppression, which makes them more vulnerable to severe COVID-19 illness, should be given the two doses.
It also says people who catch the virus in the days after a first dose is given should not receive a second shot within the usual timeframe, but within three to six months after infection.
According to the data from the clinical trials, Pfizer’s vaccine, which is 95 per cent effective, can offer partial protection as early as 12 days after the first dose.
Kao said the immediate protection after the first dose and second dose is quite similar.
However, it still remains to be seen what the long-term immune response will be after the first dose.
“We really don’t know how long that protection is going to last,“ said Kao.
“The second dose is really there to give you that long-lasting immunity.”
Quebec public health experts support delaying second COVID-19 dose
Data analysis by Canadian experts published in the NEJM found a 68.5 per cent vaccine efficacy beginning seven days after Pfizer’s first dose and a 92.6 percent efficacy two weeks after a single shot.
Based on the evidence so far, Chagla says it is premature to roll out the single-dose strategy on a wide scale and that more research was needed on that front.
“If you could prove that works, you really do save a significant amount of vaccine … and you really can change your vaccine strategy almost overnight if you can implement something like that.”
— With files from Global News’ Linda Boyle
© 2021 Global News, a division of Corus Entertainment Inc.
TD Bank Group reports Q1 profit up from year ago, tops expectations – Yahoo Canada Finance
Major companies in the ophthalmology drugs market include Novartis AG; F. Hoffmann-La Roche Ltd; Allergan Plc; Valeant Pharmaceuticals Intl Inc and Bayer AG. The global ophthalmology drugs market is expected to grow from $22.New York, Feb. 25, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Ophthalmology Drugs Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https://www.reportlinker.com/p06027742/?utm_source=GNW 03 billion in 2020 to $24.42 billion in 2021 at a compound annual growth rate (CAGR) of 10.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $32.64 billion in 2025 at a CAGR of 8%.The ophthalmology drugs market consists of sales of ophthalmology drugs and related services by entities (organizations, sole traders and partnerships) that produce ophthalmology drugs to treat eye related diseases.The ophthalmology drugs industry includes establishments that produce pharmaceutical drugs to treat glaucoma diseases, anti- inflammatory and tear stimulating drugs under dry eye medications drugs, and other drugs for treating retinal disorders and allergies.Some of the major ophthalmic drugs include Eylea, Lucentis, Restasis, Vigamox, Azopt, and Lotemax. The ophthalmology drugs market is segmented into antiglaucoma drugs; dry eye medication; and other ophthalmological drugs (retinal disorders, anti-infectives/allergy).North America was the largest region in the global ophthalmology drugs market, accounting for 41% of the market in 2020.Asia Pacific was the second largest region accounting for 28% of the global ophthalmology drugs market.Africa was the smallest region in the global ophthalmology drugs market.Drug manufacturers are increasingly developing ophthalmic drugs with anti-inflammatory agents to ease patient treatment for dry eye syndrome.Anti-inflammatory drugs are widely used for the treatment of the inflammation produced by the dry eye syndrome, with the topical corticosteroid drops being the most common therapy.Corticosteroids can rapidly and effectively relieve the symptoms and signs of moderate or severe dry eye.However, prolonged usage of corticosteroids has seen to produce side effects that include risk of bacterial or fungal infection, elevated intraocular pressure and cataract formation.As a consequence, NSAIDs are increasingly being used as dry eye treatment instead of steroids to minimize the side effects. For instance, Aciex Therapeutics, a US-based pharmaceutical company, is developing NSAIDs which decrease ocular discomfort.Regulatory changes are likely to lead to increased costs relating to new product development and service offerings to clients.These changes are related to data protection such as the European Union’s General Data Protection Regulation (GDPR), changes to drug approval procedures and other regulatory changes.For instance, according to a report by Ernst and Young in 2018, Fortune 500 companies are spending $7.8 billion to comply with GDPR regulations. The GDPR regulation is a EU law on data protection and privacy of individuals residing the European Union and the European Economic Area (EEA). It also regulates data anonymization thus maintaining integrity of data dealing with patients and other clinical trial studies. The potential loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes puts strain to investments relating to new product development, thereby affecting the growth of the ophthalmology drugs market.The expected rise in eye laser surgeries will contribute to the ophthalmology drugs market.Ophthalmology research has proved a link between laser eye surgeries and the prevalence of dry eye disorders.In an eye laser procedure, cutting of some nerves in the cornea leads to reduction in corneal sensitivity, in response to which, eyes may not sense the need for lubrication, causing the body to produce fewer tears.Dry eye is a common side effect after laser vision correction surgeries.It is estimated that almost half of the patients that undergo a laser surgery experience some degree of dry eye condition following the procedure.It is expected that the number of eye laser procedures will rise from 596,000 a year in 2015 to 720,000 a year in 2020.A rising number of people going for laser eye surgeries is expected to increase the demand for dry eye medications in the forecast period driving the ophthalmology drugs market.Read the full report: https://www.reportlinker.com/p06027742/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.__________________________ CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001
Day after doubling, GameStop is up another 67 per cent – CTV News
GameStop shares rallied 67% ahead of the opening bell Thursday, following another blockbuster day for the stock. On Wednesday, the gaming retailer’s stock closed nearly 104% higher.
Investors gained interest in the stock once again a few days after the company announced its chief financial officer would resign next month to help “accelerate GameStop’s transformation,” which could fuel investors who believe in the long-term value of the retailer and its ability to shift from relying on physical stores to an e-commerce sales model.
Trading of the stock was halted twice Wednesday and its trading volume was roughly three times higher than the five-day average for the stock, according to data provider Refinitiv.
Having déjà vu yet? The surge comes about a month after a wild GameStop trading frenzy caused its stock to jump around 1,600% in a matter of days, though it quickly fell from its highs around US$350 (Shares are set to open Thursday at around $150).
The late January surge was fuelled by individual retail investors, many from the Reddit page WallStreetBets, some of whom believed the GameStop was undervalued and others who wanted to squeeze hedge funds that had shorted the stock.
AMC, another “meme stock” involved in the trading frenzy last month, also jumped around 18% in premarket trading Thursday. As did Koss Corp., which manufactures headphones, soared 60% ahead of the opening bell. Clothing retailer Express also rose 15%.
CNN Business’ Clare Duffy contributed to this report
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