Latest news with #Lierman
Yahoo
22-04-2025
- Business
- Yahoo
2025 Kicks Off with Multi-family Sales at Market Low in GTHA
Soaring Apartment Completions Double Standing Inventory TORONTO, April 16, 2025 /CNW/ -- Zonda Urban reported today that sales of townhouses and condominium apartments remained at a multi-decade low with volume falling 50 per cent from a year ago in its Q1-2025 Greater Toronto and Hamilton Area (GTHA) report. "The condominium apartment market continues to struggle to restart sales while under pressure completing a record-breaking number of new units. More apartments—both condominium and rental—began delivering in a six month period in the GTHA than in any time over the last 30 years at 22,292 units" says Pauline Lierman, Zonda Urban's vice president, market research. 1,174 new condominium apartments and townhouses sold in the first quarter, even with the recent market low in Q3-2024. Demand reversed between new condominium apartments and townhouses from late 2024. 733 new condominium apartments sold, up slightly from Q4-2024 while 441 new townhouses sold, a decline of 40% from Q1-2024. The chaotic economic environment including the tariff situation weighed more heavily on this market segment. "Meanwhile, the steadier townhouse market pulled back some in the first quarter which we speculate is in part due to the volatile economic outlook. Neither market segment showed enthusiasm to launch new product," adds Lierman. "One new apartment project launched and six townhouse developments, the latter half compared to a year ago. What we are seeing is a greater willingness to reduce pricing." Zonda Urban tracked 31 developments, both apartment and townhouse sites, that reduced pricing during Q1-2025 which is the highest tracked. The average new condominium apartment sold for $1,150/square foot as of Q1-2025(average $789,843 for 690 square feet), up 1.2% from Q1-2024. While the average townhouse price at $1,129,941 (1,684 square feet) represented a 0.9% increase over Q1-2024. Moving stagnant unsold inventory was the key motivation for price declines, as standing built condominium apartment inventory is rapidly increasing. Total unsold new condominium apartment units stood at 21,165 units with 708 unsold completed units Unsold standing inventory jumped 95% from Q4-2024 (365). A further 1,721 units are unsold in projects expected to occupy by the end of 2025, including 487 during the second quarter Zonda Urban expects sales to remain slow during the first half of 2025, which will dampen further already slow start activity. During Q1-2025, 1,145 new condominium apartments started construction in the GTHA, the slowest Zonda Urban has tracked. In contrast, 7,934 units began occupancy. The full Q1-2025 Zonda Urban GTHA multi-family take will be released soon. Also, register to join Zonda at the Toronto Frame event on Thursday, May 22 for the latest on housing trends, the local economy, and housing activity. Visit or follow us on LinkedIn and Facebook for more information. About ZondaZonda provides data-driven housing market solutions to the homebuilding industry. From builders to building product manufacturers, mortgage clients, and multifamily executives, we work hand-in-hand with our customers to streamline access to housing data to empower smarter decisions. As a leading brand in residential construction, our mission is to advance the home building industry, because we believe better homes mean better lives and stronger communities. Together, we are building the future of housing. Media Contact: Diane Begin, 224-836-5615, pr@ SOURCE Zonda View original content to download multimedia: Sign in to access your portfolio
CBS News
12-02-2025
- Business
- CBS News
Tax forms reissued to Maryland residents whose sensitive data was sent to wrong addresses
BALTIMORE -- An estimated 6,000 Marylanders who mistakenly received tax forms belonging to other residents due to an internal printer malfunction will be reissued 1099-G forms, according to the Maryland Comptroller's Office. The 1099-G tax forms the comptroller's office mailed had one person's name and address on the outside, but someone else's data inside, according to Comptroller Brooke Lierman. "My message is we take their security seriously and I'm deeply apologetic for this mistake," Lierman said. "I know that they are nervous so we want them to know they can always reach out to us." Lierman said the state prints more than 800,000 1099-G forms every year. "At one point, the printer simply malfunctioned and had to be started again, and when it started again, it went one data set below where it supposed to so that the pages didn't match up correctly," Lierman said. Correcting the issues Lierman told WJZ her office will now do spot checks during the printing process, and the forms will no longer include full social security numbers. Taxpayers can also download a duplicate form online at The Office of the Comptroller says it will pay for one year of credit monitoring for all impacted residents through Kroll, a company specializing in identity theft protection. Affected taxpayers with concerns can call 410-260-7980 or 1-800-638-2937 and select "option 2." They can also email gad@ with the subject line "1099G Issue." Affected Taxpayers frustrated Many of those who received the incorrect mailings are frustrated, and worried about identity theft after their Social Security numbers were sent to people they do not know. "If I have all this girl's information, that means someone else has all my information, and I'm quite concerned about that because they can go and ruin my credit," Jessica Butrim told Hellgren after receiving the wrong form.
CBS News
05-02-2025
- Business
- CBS News
Maryland comptroller explains mistake that exposed thousands of Social Security numbers, steps to fix it
BALTIMORE -- Maryland's Comptroller Brooke Lierman told WJZ Investigates that her office will no longer include Social Security numbers on mailed 1099-G tax forms after a printing error exposed the personal information of thousands of Marylanders. "We're really, really sorry that this happened," Lierman told WJZ Investigator Mike Hellgren. "We take it really seriously, and we're doing everything that we can to make it right." Many victims were those who received relief payments after the Key Bridge collapse. What went wrong? The 1099-G tax forms the comptroller's office mailed had one person's name and address on the outside, but someone else's data inside. "My message is we take their security seriously and I'm deeply apologetic for this mistake," Lierman said. "I know that they are nervous so we want them to know they can always reach out to us." She said the state prints more than 800,000 1099 forms every year. "At one point, the printer simply malfunctioned and had to be started again, and when it started again, it went one data set below where it supposed to, so that the pages didn't match up correctly," Lierman said. Her office will now do spot checks during the printing process. Affected Taxpayers frustrated Many of those who received the incorrect mailings are frustrated, worried about identity theft after their Social Security numbers were sent to people they do not know. "If I have all this girl's information, that means someone else has all my information, and I'm quite concerned about that because they can go and ruin my credit," Jessica Butrim told Hellgren after receiving the wrong form. Privacy protections Lierman said she has taken new steps to protect privacy. "Unfortunately, this agency for a long time has been in the practice of including Social Security numbers on 1099s," the comptroller said. "As soon as I found out about this on Monday, we put a stop to that. There's no reason to put somebody's Social Security number on a form that's mailed so we have made process changes to ensure that something like this can never happen again." She said her office has identified everyone impacted. One-year free credit monitoring The comptroller told WJZ that everyone affected will get one year of free credit monitoring, and that could be expanded. "If there are instances where there are reasons for us to consider doing this longer, we're absolutely open to that. I take very seriously—and our agency takes very seriously—the safety and security of all Marylanders. I'm deeply regretful that this happened, but I also want Marylanders to know we're taking this seriously, improving our process, and we're going to have their back." The comptroller said she took quick action with a full response less than 24 hours after she learned what happened.
