Great View of the Skyline

SKYLINE

BY VINCENZO de COTIIS.


Check out this bookshelf appropriately named Skyline created by Vincenzo de Cotiis. Formed out of varying types of wood including maple and some veneers as well, this piece of furniture makes a statement and is finished in natural wax. It has height so please take note of the exact dimensions so that you don't spend the chunk of change only to find out it doesn't fit in your home. I do enjoy when furniture is artwork.

IS IT THE KEY TO LIBERTY?




Bankers to get keys to kingdom
Critics fear for central banks' independence
Paul Vieira, Financial Post

Published: Monday, March 30, 2009

Chris Kleponis/Bloomberg NewsCentral bankers from the G7. From left: Mark Carney, governor of the Bank of Canada, Christian Noyer, governor of the Bank of France, Axel Weber, president of the German Bundesbank, Ben S. Bernanke, ...
Nationalization, stimulation, subsidization, appropriation, bond buybacks and bailouts. In the space of a year, global policymakers have thrown away 30 years of free-market orthodoxy in an unprecedented intervention in the global economy. In the second instalment of a two-part series, the Financial Post takes a look at the repercussions for growth, banking and monetary policy.
OTTAWA -- Senior policymakers from the Group of 20 nations, led by those in Washington, are likely to agree this week to give their central bankers more power to ensure there's no return of the type of credit crisis that has rocked the global financial system.
That is no surprise, experts say, because central banks are endowed with the skill and know-how to detect asset bubbles, and act accordingly. And for the most part, their role in stabilizing the current global recession has been applauded.
But that doesn't mean everyone is happy with the behaviour to date of the guardians of monetary policy. There is concern about their inability to undo the stimulus they have injected, and the double-digit inflation that could ensue. Further, will central bankers be able to return to their independent ways, and their traditional single-minded focus on inflation, given how closely they have worked with their respective finance ministers in tackling the economic crisis? Or are they bound to become yet another agency whose role is to implement the wishes of the government of the day?
"The situation is changing so fast, and the unthinkable is becoming thinkable so rapidly, that you cannot make predictions about the relationship between central banks and governments anymore," said Andrew Hilton, director of the Centre for the Study of Financial Innovation, a London-based think-tank. "It is a bit difficult to see where it all goes because in the end, is there much difference between monetary and fiscal policy?"
Among those raising the red flag most forcibly about what the future holds for central banks is John Taylor, an economics professor at Stanford University. In recent testimony to the U. S. Congress, he described the recent moves of the U. S. Federal Reserve as "mondustrial" policy -- a combination of monetary and industrial -- in reference to how Ben Bernanke, the Fed chairman, opted to purchase securities and make loans to certain sectors and financial institutions through the creation of money, or quantitative easing, in central-bank lexicon.
"What justification is there for an independent government agency to engage in such a selective credit policy?" Mr. Taylor added. "For the Federal Reserve to be taking on these responsibilities raises questions about its independence,"
The Fed has taken among the most aggressive steps, moving in to save Bear Stearns and then American International Group, with the White House's blessing. And through recent initiatives such as the term asset-backed securities loan facility (TALF) and the purchase of U. S. treasuries, the Fed's balance sheet has ballooned an astounding 144% to US$4.45-trillion in just three weeks. In comparison, the Bank of Canada's balance sheet has grown roughly 47% since the onset of the financial crisis, from $54.8-billion to $80.6-billion, as of February. That may increase further if the Canadian central bank engages in quantitative easing, as suggested in this month's interest-rate announcement.
In the United Kingdom, the Bank of England has embarked on a bid to flood financial markets with cash through a US$200-billion-plus effort to acquire bonds, corporate debt and other securities. Until now the European Central Bank, which sets rates for the 16-nation Euro bloc, had laid low. But late last week, the ECB's vice-president indicated the central bank may offer banks long-term loans and acquire commercial paper to boost the continental economy.
The Fed's extraordinary action has been justified by a mission statement that clearly states it has a duty to supervise and regulate banking institutions, maintain the stability of the financial system and contain systemic risk that may arise in financial markets.
Nevertheless, Mr. Taylor says, these actions "have the potential to change the role of the central bank in the future in ways that could be harmful. The success of monetary policy during the great moderation period of long expansions and mild recessions was not due to a lot of discretion but to following predictable policies and guidelines that worked."
Geoffrey Wood, an economics professor at London's Cass Business School and special advisor to the Bank of England, also has concerns regarding where the Fed is headed.
"I do think there's a danger of the Fed becoming more of an active agent," he said. "More will be asked of it, it has taken more on itself, and it has taken big risks with its balance sheets. Given all this, it is more likely to make mistakes -- and if it makes more mistakes, it is likely to come under greater government influence."
Other analysts maintain central banks, including the Fed, can revert back to their traditional, independent role -- even with any additional regulatory responsibility that falls on their laps.
"Clearly central banks have conducted some of the out-of-the-box kind of policies, but I think these times called for that," said Nariman Behravesh, chief economist at IHS Global Insight, a Lexington, Mass.-based economic consultancy and forecasting firm. "Once the economy starts to recover, you will start to see the central banks reassert their independence--because I don't think anyone wants to go back to a situation in which the central banks are at the beck-and-call, if you will, of finance ministers or governments."
Eric Lascelles, chief economist and rates strategist at Toronto-based TD Securities, says central bankers are able to act nimbly in times of crisis compared to legislators -- in particular in Canada, which finds itself with a minority government and was in the middle of an election campaign when the crisis broke out in earnest.
In the United States, it is believed the Fed would take on the bulk of new oversight responsibilities as outlined last week by Timothy Geithner, the U. S. Treasury Secretary. As he envisages it, one entity would be responsible for ensuring systemic stability over major institutions, and critical payments and settlement systems.
Among the key regulator tasks, experts say, will be to identify, and then slowly burst, growing asset bubbles such as the dot-com boom of the late 1990s and the housing craze of this decade.
"What they can do about it is another question, however," Mr. Wood said. "They will need new instruments. They have rates to conduct monetary policy and help target inflation, but it would only be accidental if they could control asset bubbles at the same time. What those new instruments would be, nobody has any idea at the moment."
A key test as to whether central banks can go back to their accustomed knitting is when it comes time to unwind their balance sheets and take out the cash from the system. What if legislators object, arguing the economic recovery has yet to kick in?
"If the central bank feels it doesn't have the authority to stick its finger up at the state, then you do have the danger of moving toward Zimbabwe," warned Mr. Hilton, of the British think-tank.
That south African country has been subjected to hyperinflation, the result of its central bank forced to finance the public spending through directly acquiring Zimbabwean bonds from the government.
Most analysts, however, say central banks have exit strategies ready to pull excess cash out of the system. Mr. Hilton, a former World Bank economist, is not among those brimming with confidence.
"Western economies are like forests in autumn these days, with all the leaves lying on the ground and the wind still," he says. "What happens if the wind starts to blow? We will have to suck a lot of that cash out very, very quickly indeed."

Contemporary TV Stands

Liza TV Stand
Description:

Liza TV Stand and laptop stand is part of Lisa bedroom collection. Liza has modern high gloss finish four drawers and middle shelf

Features:

  • High gloss lacquer finish
  • Four drawers
  • Middle shelf
  • St. Steel legs

  • Model Pigalle Modern TV Stand
    Description:

    Modern italian Pigalle tv stand

    Features:

  • Made in Italy
  • Finish: mat
  • Two doors
  • Additional shelf for TV

  • Model DK 52 Modern Black TV Stand
    Description:

    TV Stand in walnut finish, with room for dvd, plus additional drawers for storage, includes two side glass panels.
    MS Italia Entertainment Center
    Description :

    LCD Screen TV-Unit wall system with practical and functional accessories.

    Features:

  • Chrome Hinges
  • Alunimiun Columns
  • Wood Veneer Structure
  • includes sideboard LED lights
  • High Capacity large drawer w/ extra drawer inside.

  • Contemporary Wallnut TV Stand
    Description :

    The Lexington entertainment unit combines modern edge with retro flare. This stable hardwood piece comes with a frosted glass sliding window for easy access to all your A/V components. Each side contains two standard drawers for extra storage (four drawers total). The retro feet give the Lexington some added height while maintaining its low-profile presence. Inside cabinet includes two adjustable shelves and measures 36"L x 22.8"D x 13"H, and is split into four equal quadrants. Contains rear ventilation holes for wires - perfect for plasma TV setup. Available in wenge, whitened oak, walnut or white lacquer finish. Hardwood construction. Assembly required. Imported.

    Features :

  • Frosted Glass
  • Sliding doors
  • Rear Holes for wires
  • Adjustable Shelves
  • Hardwood Construction
  • Color: walnut, available in black and white lacuqer

  • Modern Espresso TV Stand
    Description:

    Plasma TV Stand.
    Waves releases Freedom of choice!!

    Features :

  • Stainless steel fronts
  • Tops and sided always in real wood veneer
  • Steel legs and handle.

  • Modern white lacquer TV stand
    Description:

    Modern White Lacquer TV Stand with unique modern design. This TV stand will make your house elegant and stylish

    Features:

  • Color: white
  • Finish: high gloss lacquer
  • Stainless steel. support
  • Modern deisgn

  • Armani Black crocodile texture TV Cabinet
    Descritpion:

    Supreme style and space this piece offers not only that needed spice of a fininshing touch in that room but it also offers a vast amount of space with its four drawers and center galss door there is more to leave to the imagination.

    Features:

  • Modern TV cabinet
  • Black crocodile pattern frame
  • Black crocodile pattern drawers with self closing rails
  • Black glass sliding door

  • Modern Lacquer Crocodile Texture TV Stand
    Description:

    This TV unit is beyond unique modern and spectacular, with a beautiful clean high gloss lacquer crocodile texture finish it is sure to fill in that bland wall lacking of that beautiful addition

    Features:

    Stainless steel circle accentuation
  • Crocodile finish texture on TV Unit
  • L Shape extensional board: white or black
  • TV Unit color: white or black
  • Finish: high gloss lacquer
  • Stainless steel legs
  • 2 Door and 2 drawer with self closing runners

  • Contemporary TV Stand
    Description:

    A elegant match to your capri bedroom set in wood veneer. features sliding doors and low wooden legs

    Features:

  • Modern TV Stand
  • Color: Wenge
  • Clear glass sliding door
  • Drawers
  • Available matching bedroom set
  • TV/Wall Unit

    Living in simplicity and moving around in a cool place, in a modern and welcoming style

    Drawer Base

    Fronts Tobacco Oak
    Glass Top Graphite
    Structure Tobacco Oak

    Hanging Unit

    Door Dark Turtledove Lacquered
    Structure Graphite

    Paneling

    Panels Lacquered Green
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • base fronts tobbaco oak
  • glass top graphite
  • structure tobbaco oak
  • unit door dark turtlesdove
  • push/pull opening
  • panels lacquered green
  • glass shelves graphite
  • natural aluminum
  • hinged doors are equipped with automatic steel hinges

  • Living in simplicity and moving around in a cool place, in a modern and welcoming style

    Drawer Base

    Glass Door Green
    Structure Graphite

    Shelf

    Cherry

    Baseboard

    Cherry

    Features:

  • Made in Italy.
  • base:cherry
  • Shelf: cherry
  • structure graphite
  • unit door green
  • push/pull opening
  • panels lacquered green
  • hinged doors are equipped with automatic steel hinges

  • light turtledove paneling with minimal glass shelves

    Drawer Base

    Fronts Lacquered light turtledove
    Glass Top Graphite
    Structure Graphite

    Hanging Drawer

    Fronts Lacquered light turtledove
    Glass top graphite
    Structure Graphite

    Hanging Unit

    Glass Door Green
    Structure Graphite

    Paneling

    Lacquered Panel Light Turtledove
    Transparent Glass Shelves
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • base front lacquered light turtledove
  • glass top graphite
  • structure graphite
  • unit door green
  • push/pull opening
  • natural aluminum
  • panels lacquered light turtledove
  • hinged doors are equipped with automatic steel hinges

  • Show new angles with the new contrasts

    Drawer Base

    Fronts Lacquered dark Turtledove
    Glass Top Turtledove
    Structure Tobacco Oak

    Hanging Unit

    Lacquered Door Green
    Structure Tobacco Oak

    Paneling

    Panels Tobacco Oak
    Shelf Tobacco Oak
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • base front lacquered dark turtledove
  • glass top turtledove
  • structure tobbaco oak
  • unit door green
  • push/pull opening
  • natural aluminum
  • panels&shelf tobbaco oak
  • hinged doors are equipped with automatic steel hinges

  • specular top increases depth of composition

    Drawer Base

    Glass Fronts Black
    Glass Top Black
    Structure Graphite

    Hanging Unit

    Glass Door White
    Structure White

    Paneling

    Lacquered Panels White
    Glass Shelf White
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • base: glass fronts black with handles
  • glass top black
  • glass panels white
  • unit doors white w/ graphite structure
  • lacquered panels white
  • glass shelf white
  • structure black
  • push/pull opening
  • hinged doors are equipped with automatic steel hinges

  • specular top increases depth of composition

    Drawer Base

    Glass Fronts "Millerighe" black
    Glass Top Black
    Structure Graphite

    Hanging Unit

    Glass Door Mellirighe white
    Structure Graphite

    Paneling

    Lacquered Panels White
    Glass Shelf White
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • base: glass fronts millerighe black with handles
  • glass top black
  • glass panels millerighe white
  • unit doors white w/ graphite structure
  • lacquered panels white
  • glass shelf white
  • push/pull opening
  • hinged doors are equipped with automatic steel hinges

  • Union between tobacco oak and lacquered colors creates a sophisticated composition... where each detail is worthing

    Drawer Base

    Fronts Tobacco oak
    Top Tobacco Oak
    Structure Tobacco Oak

    Hanging Drawer

    Glass Fronts white
    Structure Tobacco Oak

    Hanging Unit

    Glass Door Red
    Structure Tobacco Oak

    Paneling

    Panels Tobacco Oak
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • base:fronts tobacco oak
  • top tobacco oak
  • tobacco oak structure
  • unit doors red w/ tobacco oak structure
  • hanging drawers: glass white, glass top white
  • tobacco oak panels
  • push/pull opening
  • hinged doors are equipped with automatic steel hinges

  • Union between tobacco oak and lacquered colors creates a sophisticated composition... where each detail is worthing

    Drawer Base

    Fronts Tobacco oak
    Lacquered Top Dark Turtledove
    Structure Tobacco Oak

    Hanging Unit

    Glass Door White
    Structure Tobacco Oak

    Paneling

    Lacquered Panels Light Turtledove
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • base:fronts tobacco oak
  • lacquered top tobacco oak
  • tobacco oak structure
  • hanging units: glass white,
  • lacquered panels light turtledove panels
  • push/pull opening
  • hinged doors are equipped with automatic steel hinges

  • Union between tobacco oak and lacquered colors creates a sophisticated composition... where each detail is worthing

    Hanging Drawers

    Glass Fronts Light Turtledove
    Glass Top Light Turtledove
    Structure Tobacco Oak

    Sides

    Tobacco Unit

    Shelves

    Tobacco Oak

    Paneling

    Lacquered Panels Turtledove
    Transparnent Glass Shelves
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • glass fronts light turtledove
  • glass top light turtledove
  • tobacco oak structure
  • hanging units: glass door turtledove
  • lacquered panels light turtledove
  • tansparent glass shelves
  • push/pull opening
  • hinged doors are equipped with automatic steel hinges
  • Modern Italian Entertainment Center

    Rigour, design and functionality. All magically expressed and wrapped around from new elegance

    Drawer Base

    Fronts lacquered white
    Glass top white
    White structure

    Hanging drawers

    Fronts tobacco oak
    Glass top dark chocolate
    Tobacco oak structure

    Features:

  • Made in Italy.
  • matt lacquered with smooth edge
  • glass top white for base
  • glass top dark chocolate for hanging drawers
  • push/pull opening
  • wood particleboard panels
  • hinged doors are equipped with automatic steel hinges

  • Modularity with no limits, for free & original furnishing solutions

    Hanging Units

    Glass door White
    Glass top White
    Structure White

    Features:

  • Made in Italy.
  • matt lacquered with smooth edge
  • push/pull opening
  • glass door white
  • glass top white
  • structure graphite
  • hinged doors are equipped with automatic steel hinges

  • the units express determination, colour and light, performing a minimal fresh opening space


    Hanging Units

    Glass Door Green
    Glass Top Green
    White Structure

    Features:

  • Made in Italy.
  • lacquered glass with smooth edge
  • push/pull opening
  • wood particleboard panels on the inside
    in cherry, tobacco oak, white or graphite grey
  • hinged doors are equipped with automatic steel hinges

  • extending living rooms. all glass and shiny green

    Hanging Units

    Glass door green
    Glass top green
    White structure

    Hanging drawers

    Fronts lacquered green
    Glass top green
    White structure

    Shelf

    Graphite

    Features:

  • Made in Italy.
  • lacquered glass with smooth edge
  • push/pull opening
  • wood particleboard panels on the inside
    in cherry, tobacco oak, white or graphite grey
  • hinged doors are equipped with automatic steel hinges

  • extending living rooms. all glass and shiny green and orange

    Hanging Units

    Glass door orange
    Glass top orange
    White structure

    Hanging drawers

    Fronts lacquered green
    Glass top green
    Graphite structure

    Features:

  • Made in Italy.
  • lacquered glass with smooth edge
  • push/pull opening
  • wood particleboard panels on the inside
    in cherry, tobacco oak, white or graphite grey
  • hinged doors are equipped with automatic steel hinges

  • Red Lacquered, for a steady and strong living room

    Hanging Units

    Glass door Orange
    Graphite structure

    Hanging drawers

    Fronts lacquered red
    Glass top red
    Graphite structure

    Paneling

    Panels lacquered green
    Glass shelves green
    profiles natural aluminium

    Features:

  • Made in Italy.
  • lacquered glass with smooth edge
  • push/pull opening
  • wood particleboard panels on the inside
    in cherry, tobacco oak, white or graphite grey
  • hinged doors are equipped with automatic steel hinges

  • free space with rigorous style

    Hanging Units

    Glass door red
    Glass top red
    White structure

    Hanging drawers

    Fronts lacquered red
    Glass top red
    White structure

    Features:

  • Made in Italy.
  • lacquered glass with smooth edge
  • push/pull opening
  • wood particleboard panels on the inside
    in cherry, tobacco oak, white or graphite grey
  • hinged doors are equipped with automatic steel hinges

  • Rigour, design and functionality. All magically expressed and wrapped around from new elegance

    Drawer Base

    Fronts Tobacco Oak
    Glass top Lilac
    Structure Tobacco Oak

    Hanging Units

    Glass door dark turtledove
    Structure Tobacco Oak

    Shelves

    Tobacco Oak

    Features:

  • Made in Italy.
  • for base, fronts tobacco oak
  • glass top lilac
  • structure tobacco oak
  • push/pull opening
  • dark turtledove glass door unit
  • hinged doors are equipped with automatic steel hinges

  • Composition in graphite grey with white mat boiserie, interrupted by lightly coloured glass shelves

    Drawer Base

    Fronts Graphite Lacquered
    Glass Graphite Lacquered
    Structure Graphite

    Hanging Unit

    Door Graphite Lacquered
    Structure Graphite

    Paneling

    Panels Lacquered White
    Glass Shelves Graphite
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • for base & unit fronts graphite lacquered
  • glass top graphite lacquered
  • structure graphite lacquered
  • push/pull opening
  • panels lacquered
  • glass shelves graphite
  • natural aluminum
  • hinged doors are equipped with automatic steel hinges
  • Composition in graphite gray with white mat boiserie, interrupted by lightly coloured glass shelves

    Drawer Base

    Glass Fronts "Millerighe" aluminium
    Glass Top Graphite
    Structure Tobacco Oak

    Hanging Unit

    Door Graphite Lacquered
    Structure Graphite

    Paneling

    Panels Lacquered Green
    Profiles Natural Aluminium

    Features:

  • Made in Italy.
  • base fronts aluminum
  • glass top graphite
  • structure graphite
  • push/pull opening
  • panels lacquered green
  • glass shelves graphite
  • natuaral aluminum
  • hinged doors are equipped with automatic steel hinges
  • SMA Avangarde

    The living room is getting more and more technical.
    This daytime sistem had bases, open modules back panels where inserting the generation of TV.
    The glossy and mat colour palette includes many finishes for being matched with variety of wooden finishes available.

    The version Tobacco Oak, is the elegant solution that SMA presentson it's modern and functinal daytime collection.
    Structure Graphite Grey and portal Tobacco Oak.
    Doors and drawers gloss White lacquer

    The living room is getting more and more technical.
    This daytime sistem had bases, open modules back panels where inserting the generation of TV.
    The glossy and mat colour palette includes many finishes for being matched with variety of wooden finishes available.
    Structure Graphite.
    Doors gloss Silk Grey laquer

    The version Tobacco Oak, is the elegant solution that SMA presentson it's modern and functinal daytime collection.
    Structure Tobacco Oak.
    Doors and drawers gloss Olive Green Lacquer

    The version Tobacco Oak, is the elegant solution that SMA presentson it's modern and functinal daytime collection.
    Structure Tobacco Oak.
    Sliding Doors mirror reflex

    The whole program is composed of drawers which sliders, that allows big weight capacity and always silent movement.
    Panels can be used in many different combinations.
    Structure mat White lacquer.
    Back panels mat Silk Grey.
    Doors Mirror

    The version Tobacco Oak, is the elegant solution that SMA presentson it's modern and functinal daytime collection.
    Structure Tobacco Oak.
    Doors, drawers and long shelf gloss Orange Lacquer

    The whole program is composed of drawers which sliders, that allows big weight capacity and always silent movement.
    Panels can be used in many different combinations.
    Structure and back panels mat White lacquer.
    Doors gloss Silk Grey.

    The version Tobacco Oak, is the elegant solution that SMA presentson it's modern and functinal daytime collection.
    Structure and portal Toacco Oak.
    Doors gloss Silk Grey.

    The version Tobacco Oak, is the elegant solution that SMA presentson it's modern and functinal daytime collection.
    Structure Tobacco Oak.
    Doors and drawers gloss White lacquer

    The version Tobacco Oak, is the elegant solution that SMA presentson it's modern and functinal daytime collection.
    structure tobaccoOak.
    Tops Tobacco Oak.
    Back panels and drawers mat White

    The version Tobacco Oak, is the elegant solution that SMA presentson it's modern and functinal daytime collection.
    Structure Tobacco Oak.
    Doors and drawers base gloss Red lacquer

    First Time Plunge



    Drop in house prices driving first-time buyers to take the plunge
    by Brenda Bouw,
    THE CANADIAN PRESS
    Tuesday, March 10, 2009

    First-time homebuyers are being lured into the real-estate market by falling prices, lower interest rates, more selection and new government incentives, a new report shows.
    The ReMax real estate company said preliminary figures show sales were up in February, after a terrible January, driven by more first-time buyers entering the market.
    The report comes alongside new Statistics Canada figures showing the first year-over-year decrease in new-home prices in more than a decade.
    ReMax said lower prices and record low lending rates are prompting many first time buyers to "get off the fence, out of the rental, and into the market."
    "While a sense of caution still prevails, more and more first-timers are finding it hard to pass up the chance to become homeowners in today's buyer-centric real-estate climate," ReMax said in its report released Wednesday.
    "Buyers are clearly in control in most Canadian markets."
    Wendell Collier said he and his girlfriend have finally waded into the market in Toronto after waiting it out for years.
    "There is less pressure now," said Collier. "There are no bidding wars, you see houses sitting on the market a lot longer. It's a buyer's market again."
    Collier also said low interest rates have been an incentive.
    "You start saying 'Okay, now it's looking very possible.' Before we would have handled it, but we would have been stretched thin for a couple of years. Now we can have our cake and eat it too."
    After years of renting, Tyler Backus recently bought his first house in the Haldimand-Norfolk region of Ontario, inspired by falling prices and the new federal renovation tax credit.
    "It seemed that everything was going down in price and it was the right time to buy," said Backus.
    Ottawa recently announced new tax credits of up to $1,350 for homebuyers to renovate their house or cottage. It also increased the amount first-time homebuyers can withdraw from their RRSPs from $20,000 to $25,000, and implemented a tax credit for first-timers of up to $750 to help cover closing costs.
    ReMax said 22 of the 32 markets in the survey, or 69 per cent, "remain firmly in buyer's market territory."
    Some of these spots include Vancouver and Victoria, Edmonton and Calgary, Saskatoon and Regina, Ottawa and Toronto, and Halifax.
    Cities such as Winnipeg, Kitchener-Waterloo, Ont., Sudbury, Ont. St. John's, N.L., and Charlottetown had what ReMax called "more balanced conditions" between buyers and sellers.
    It said 40 per cent of the 32 markets had single-detached homes priced under $200,000.
    The most affordable markets for detached homes, based on starting prices were Moncton, N.B. in Eastern Canada at $115,000, Windsor at $75,000 in Ontario and Winnipeg at $185,000 in Western Canada.
    In its report released Wednesday, StatsCan said new home prices fell 0.8 per cent in January compared with the same month a year earlier.
    It was the first year-over-year decrease across the country since January 1997, led by a steep drop in Western Canada.
    New home prices in Edmonton fell the most by 10.4 per cent, followed by a 6.5 per cent drop in Calgary, 4.2 per cent drop in Victoria and 3.2 per cent dip in Vancouver.
    Regina was the rare Western Canadian city that saw a large increase in new home prices, a lift of 21.7 per cent. Only St. John's, N.L. saw new home prices rise more, by 24.1 per cent in January compared to the same month in 2008.
    Earlier this week, Canada Mortgage and Housing Corp. said housing starts fell for the sixth straight month in February, down 12.3 per cent to a seasonally adjusted annual rate of 134,600 units. That's after falling 10.9 per cent in January.
    February's figures are a 30 per cent drop from the same period last year, and were lower than most economists expected
    Scotiabank economist Adrienne Warren said new home sales respond to what happens in the larger resale market, which has seen a reversal in recent months after nearly a decade of constant growth.
    Resale home activity fell 37.3 per cent across Canada in January compared to the same time last year, while average prices fell 11.3 per cent. National figures for February are due in the coming days.
    Warren said early indications are that February sales activity has picked up compared to a dismal January, but she predicts a turnaround will not be quick.
    Housing sales will continue to be weak this year and there will be "a sluggish recovery" starting in 2010, she said. That's because a lot of buyers are still concerned about losing their jobs in the current recession.
    As for first-time home buyers, Warren said they can be an indicator of a market recovery.
    "In any recovery you need to have first-time buyers because other buyers are just shuffling around housing. For a buyer that wants to move up, you need that first-time buyer to come in and buy from them," Warren said.
    Vancouver real-estate agent Shelly Smee said she has a handful of clients who are preparing to move up in the market now that house prices have fallen in Canada's most expensive city. She said some couples are looking at moving out of their condominiums and into a house.
    "Some people are thinking now is a good time to move up and they can finally afford it," Smee said.
    Smee also said some clients have also built up equity in their homes in recent years and are now considering upgrading thanks to record-low borrowing rates.
    Interest rates have fallen dramatically in recent months as the central banks and federal government seek to ease the credit conditions in order to jump-start the flagging economy.
    Last week, the Bank of Canada did its part by dropping the overnight rate down to an unheard of half per cent. Canada's chartered banks then lowered their prime rate to 2.5 per cent and having been lowering other lending rates including mortgages.

    Patio Furniture, Outdoor furniture, wicked furniture