Good-bye, Honest Ed’s?

Looks like the Bloor streetscape might be about to change. Honest Ed’s, the landmark kitschy department store owned by the Mirvish family, has been quietly listed for sale, says the National Post. The Post says several real estate companies have been invited to make an offer in the potentially $100-million transaction, as confirmed by long-time store manager Russell Lazar.

The store has been around since 1948, when Ed Mirvish reportedly cashed in his wife’s insurance policy for the $212 he needed in seed money. I don’t suppose the new owners will keep the iconic signage — Honest Ed’s a creep! His bargains creep into your heart, your soul and your brain! Kind of like his store. Bloor and Bathurst won’t be the same without it.

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Knowing the effect the stifling heat is having on my own motivation (not good) got me thinking about what construction crews are going through right now. Not only must they be horridly uncomfortable, especially as they have no choice but to wear hardhats, jeans and boots, but it got me wondering what physical effects this weather is having on their concentration and coordination. It must be devilishly hard to keep your mind on the matter.

According to the Gatorade Sports Science Institute in Illinois, dehydration of only a 1.8 or 2 per cent decrease in body weight can have a powerful negative effect on the brain and the muscles. With the brain’s being 92 percent water, it is among the most susceptible organs to dehydration, which can impair reaction time, judgment, concentration, decision-making and mental clarity. The reduction in mental performance becomes significant with just a 2 percent body weight loss. Drowsiness, disorientation, dizziness and fatigue are other common symptoms of dehydration — not good on a build site.

And how about the buildings themselves?

According to RCI Inc., a Raleigh, N.C.-based “international association of building envelope consultants,” in a 2005 report called Design and Construction vs Weather, hot and dry conditions can have all sorts of effects on construction. We rarely have a problem with dryness, but temperature and sunlight can be problematic for a variety of materials. When the temperature is too high or the relative humidity too low, solvents in paint evaporate too fast, which can prevent the paint from curing properly and cause wrinkles, blisters, peeling, and cracking. UV exposure reduces the resiliency of seals and sealants.

According to the Brick Industry Association in Virginia, high temperatures and high humidity are not as damaging to the performance of masonry as are low temperatures and low humidity; the increased rate of cement hydration and favourable curing conditions in hot, humid weather can actually help develop masonry strength, provided sufficient water is used during construction. Without sufficient water, though, cement hydration slows or stops and bond strength between brick and mortar is reduced. Grout also reacts to hot weather similarly to mortar.

Even equipment exposed to sunlight for extended periods, like mixers, wheelbarrows and mortar pans, can impart heat to the mortar, which can also compromise masonry quality.

Fortunately, our builders are used to dealing with insane extremes in weather, but that doesn’t help the guys up on the roof. If you want to be a good Samaritan on your way home, bring some water to those poor guys labouring near you.

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National home sales were up in June according to the Canadian Real Estate Association, which the association’s chief economist chalks up to fence-sitters with pre-approved mortgages finally jumping into the market as interest rates inched up.

Sales last month were up 3.3 percent over May, but down 0.6 percent from a year ago, when Flaherty’s new mortgage rules were announced.

Pre-approved mortgages usually expire in two months, so higher interest rates are likely to have an effect on affordability in the coming months, especially in expensive markets like ours. The Association says action now is merely borrowing from the future, so we’ll likely see home sales falter. Chef economist Gregory Klump said that the GTA market, although large and varied, was balanced overall. Neighbourhoods with little turnover, as in central Toronto, remain seller’s markets due to the dearth of inventory.

“A lot of people were concerned that the Canadian housing would go through a weak period for sales and prices after mortgage rules were tightened,” said Robert Kavcic, BMO senior economist. “We did see a correction, and we were always of the view that it was going to be temporary and the landing would be soft. The numbers we have seen in the past couple of months are suggesting we have seen a soft landing. Sales are picking up again, and prices are picking up again at a pretty sustainable pace.”

The overall number of new listings was down 0.5 percent from May, but increased in some hot GTA markets, such as Hamilton-Burlington and Oakville-Milton. Toronto and London saw a decline in new listings.

The national average sale price was up 4.8 percent year-over-year last month, at $386,585. In the first half of the year, 240,068 homes have sold through MLS, down 6.9 percent over the first half of 2012, pre-mortgage rule tightening.