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July 2015 Canadian Economic Fundamentals

Ally

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Canadian economy already bouncing back, further rate cuts unlikely, economists say

The Canadian economy is already bouncing back from a slump in the first half of the year, but it remains vulnerable to further falls in oil prices and any renewed weakness in export demand from the United States, a Reuters poll found.

After the economy contracted in the first three months of the year, the second quarter also got off to a weak start, suggesting Canada, a major oil exporter, may have been in recession in the first half of 2015.

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Oil hits four-month low on China stocks rout, supply glut. Hasn't found the bottom yet

The Canadian economy is already bouncing back from a slump in the first half of the year, but it remains vulnerable to further falls in oil prices and any renewed weakness in export demand from the United States, a Reuters poll found.

After the economy contracted in the first three months of the year, the second quarter also got off to a weak start, suggesting Canada, a major oil exporter, may have been in recession in the first half of 2015.

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Oil hits four-month low on China stocks rout, supply gut

Oil hit four-month lows on Monday after a steep drop in Chinese stock markets spread concerns about the economic health of the world’s biggest energy consumer and more evidence emerged of a global supply glut.

Chinese stocks tumbled more than 8 per cent on Monday, the biggest one-day drop in eight years, showing an unprecedented government rescue effort to prop up valuations has run out of steam.


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This Toronto condo developer is offering guaranteed rent on your investment - but at what price?

Although this type of deal is not without precedent, it does raise the question of what buyers are ultimately paying for this perk?

The Minto Group is reaching into its bag of condominium treats — incentives have long been part of the industry — to offer investors in its Toronto development called Minto Westside, near the city’s waterfront, a guaranteed six per cent return on their purchase price for 24 months.

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Stop delighting in Alberta’s misery because their economic woes are going to affect each and every citizen in every province. They are (were) the "Have" province sending money to all of the have Nots (Ontario, Quebec et al)

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Canadian dollar at lowest since 2009. Exactly the result BoC was shooting for a boost for Industry & Ag exports. Too many people thinking it was all about the Interest rate itself when really it wasn’t

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Recession defined (or re-defined) for #Canada. Is 2 quarters of national negative growth a recession?

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First-time buyers fuelling the real estate market

According to a new survey by the Canadian Association of Accredited Mortgage Professionals (CAAMP), it seems that those responsible for keeping the housing market alive right now are actually the first-time homebuyers.

Even with the housing market prices currently at an all-time high, those purchasing a home for the first time are making up 45 per cent of the 620,000 homes sold over the past two-plus years in Canada.
The Toronto Real Estate Board’s director of market analysis, Jason Mercer, doesn’t disagree, but he believes there are a number of factors to consider as to why the housing market is still so strong.

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Whitehorse apartment manager fed up with extra trash

The manager of an apartment building on Hoge Street in downtown Whitehorse says the dumpster at her building is filling up faster than usual because it's being used by people who don't live there.

Anne Pittens says the Yukon Housing Corporation isn't providing adequate receptacles for its tenants in its housing units across the street.

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If history proves true again: If you're in stock market - Best keep your smartphone by the pool. I well selected real estate: enjoy your August

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Apartment buildings hot commodities as rents edge up amid vacancy squeeze

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American politicians prove they MAY not be our best friends as #Detroit supports competition to new Canadian Funded bridge from Windsor to Detroit bridge

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CMHC announces new rules to make it easier for homeowners to rent out property

Canada Mortgage and Housing Corp. is going to make it easier for homeowners renting out apartments in their principal residences to borrow money, a move that could further heat up markets in Toronto and Vancouver.

The Crown corporation, which controls a majority of the mortgage default insurance market in Canada, announced changes to its rules Monday and effective Sept. 28 which are aimed at boosting affordable housing.

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Harper says Canada's consumer debt shows confidence not crisis

Rising consumer debt is a sign of confidence in the economy, with little evidence to suggest it’s reaching a crisis point, Canadian Prime Minister Stephen Harper said.

While the government is concerned with consumer debt, for the most part borrowers’ balance sheets “are good,” Harper said during an interview at his Ottawa office Wednesday. “We don’t believe there’s any data that suggests any kind of a pending crisis there.”

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Kevin O'Leary on Alberta: 'The person running the energy sector doesn't know anything about energy'

Global energy producers have shelved $200 billion US worth of spending on over 45 major projects since the dramatic collapse in the price of oil, according to Wood Mackenzie Ltd. The Edinburgh-based researcher says 20 billion barrels of reserves have been left in the ground, with Canada’s oil sands accounting for 30 percent of that figure.

The plug in the investment pipeline shouldn’t come as a shock, especially to those in Canada’s energy patch, according BNN commentator Kevin O’Leary. He says what the Wood Mackenzie report fails to realize with respect to the worsening situation in Alberta is the impact of the newly-elected NDP government’s less-than-transparent approach to reviewing energy royalties and taxing corporations -- key campaign promises that saw the Rachel Notley government end 44 years of Progressive Conservative rule last May.

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Rent-to-own homes make a comeback

Wall Street firms have found a new way to profit from consumers with blemished credit who can’t qualify for a mortgage: let them rent a home first with the option to buy it later.

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Don't buy the rhetoric: Why measurement matters in income inequality

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Can and will oil hit $20? It is possible. Check this analysis out.

Is $20 oil Possible? This question has been asked, and answered, in previous Oilpro posts. Yes, $20 oil is possible. Will it happen? I don't know. But it is worthwhile to understand why a $20 price is not out of reason. Further, it might be instructive to understand why recent oil price commentators are suggesting a low-thirties number.

A year ago it was almost impossible to get an article published that talked about $60 oil. That price was believed to be completely unreasonable. Now we are flooded with commentaries speculating on "How low will it go?", with $30-40 numbers quite common. It now takes $10 or $20 to reach the "sensational" threshold. But is the $20 number of today the same as the $60 number a year ago? Is it just a matter of time? To answer that question we need to remind ourselves of the way prices happen.

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That moment when you've been duped, but just can't bring yourself to admit it. Reality Check version

Hardly a week goes by without a coup by the Tar Sands Campaign. The latest win is courtesy of SumOfUs, the group that pressured Tim Horton’s into pulling its ads for Enbridge, a pipeline company that transports Alberta oil across North America.

The Tar Sands Campaign was launched in 2008 by the Rockefeller Brothers Fund, the Tides Foundation (“Tides”) and other U.S. foundations with the objective of branding Alberta oil as the poster child of “dirty fuel.”

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Don't believe the negative hype about our great nation. STUDY: Which two countries produce the largest share of energy from renewables? Brazil and Canada

AMERICA is often lambasted as a carbon villain. It does account for 15% of global CO2 emissions, but it is also a world leader in (non-hydropower) renewables, and today Barack Obama announces stiff new curbs on power-station emissions. They aim to make a 32% cut from 2005 levels by 2030. A Supreme Court ruling in 2007 classified CO2 as a pollutant, putting it within the remit of the Environmental Protection Agency. That allows the president to take unilateral action, bypassing Congress. The limits on carbon emissions have great political significance: they delight climate-conscious liberals, but will hit America’s struggling coal country hard. Mitch McConnell, the Senate majority leader, won re-election in Kentucky last year with a simple slogan: “Coal. Guns. Freedom.” Democrats are about to become even more unpopular there, and in West Virginia and Wyoming.


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