Canadian Economic News

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Canadians still value real estate

Despite fears of a slumping economy, most Canadians expect the value of homes in their neighbourhood to rise or at least stay the same, a new poll finds.

According to the Nanos Research-Sun Media survey, 39.7% of Canadians think prices for real estate in their area will continue to climb. Another 38.9% predict values will remain steady, 17.5% think they will bottom out and 3.9% aren`t sure. Western Canadians are most optimistic that home prices will remain strong, with 44.7% expecting property values in their neighbourhood to rise in the next six months and only 19.5% expecting prices to tumble.

http://www.edmontonsun.com/News/Canada/200...636561-sun.html

 

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Canadians are not prepared for economic downturn, bank warns

OTTAWA -- Canadians are not prepared -- and not preparing -- for a rainy day, like an economic downturn, a major bank is warning.

The vast majority of Canadians admit they`re poor savers, with barely one-half having a rainy-day account. And of those, only half have enough to cover a month`s expenses, RBC said Wednesday in releasing results of a spring survey of the saving and spending habits of Canadians.

http://www.financialpost.com/story.html?id=530187

 

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Canadians spend big on home renovation

CALGARY - Homeowners in the country`s 10 major centres spent nearly $20 billion on renovations last year, according to a survey released Thursday by Canada Mortgage and Housing Corporation.

And home buying intentions are strongest in Calgary where eight per cent of households reported that they are considering buying a home this year, down from 14 per cent in 2007.

http://www.canada.com/windsorstar/news/bus...58-6a1019ac749b

 

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Kennedy exhorts Canada to protect its water; Thirsty U.S. must be told bulk exports off table

Canadians should tell the United States that they will not allow exports of their country`s water to address a shortage south of the border, Robert F. Kennedy Jr. said Thursday during a visit to Trent University.

"Right now, there`s a broad consensus against bulk water exports... and we think that that`s a good idea," Kennedy told reporters. "But only 10 per cent of the water in Canada is protected."

Kennedy, 54, urged Ottawa to "send a clear signal" to the United States by putting "strong protection on the other 90 per cent and say, `This is not going to the U.S.`"

Policy makers in parched southern states don`t fret about shortages, he said.

"They`ll say, `We don`t have to worry about this because we`ll just get the water from Canada.`

http://www.orilliapacket.com/ArticleDispla...uth=Teviah+Moro

 

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Well-delivered handshake helps give good first impression

CANBERRA (Reuters) -- Smartening up and smiling are key tactics for job-seekers, but a simple well-delivered handshake could trump them both, according to a new study.

Research by the University of Iowa found applicants with a firm handshake are far more likely to get the job than candidates with a limp grip.

http://www.canada.com/reginaleaderpost/new...8a-abc054c3e9a1

 

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Bankers may be unprepared for credit challenges, study suggests

TORONTO -- Amid the gloom of one of the worst periods for the global banking industry, four out of five senior bankers in Canada and elsewhere admit they are not well prepared for the industry`s major risks tied to credit, derivatives and liquidity.

"Bankers are shaken," said Diana Chant, financial services practice leader at PricewaterhouseCoopers in Toronto, whose firm issued a report on the attitudes of top bankers, Friday.

http://www.canada.com/reginaleaderpost/new...3c-1188474cdf9b

 

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Federal surplus sits at hefty $10.2B

OTTAWA -- The federal government last year chalked up what`s likely to be the last of a decade of fat federal budget surpluses.

Once adjusted for some last-minute spending, the preliminary surplus for the 2008-09 fiscal year was $10.2 billion, exactly as projected in the February budget, earning Finance Minister Jim Flaherty some rare praise from the head of a tax watchdog group.

http://www.canada.com/reginaleaderpost/new...ae-351719edf926

 

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Countries with oil see markets flourish

TORONTO - It`s been a bloody year for world stocks, but above the fray, Canada stands with Brazil and Mexico as the only countries with unscathed major indexes.

The pattern is that soaring oil has treated these three well, and left others grappling with its high costs.

But Canada has a second trump card in its hand: the steady Canadian dollar, which allows global investors to park money in North American energy stocks without worrying too much about taking a hit on foreign exchange.

http://www.canada.com/edmontonjournal/news...c4-7a2142915855

 

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Front doors make a fine first impression

The front door is unique among architectural features: it is a keystone in both exterior and interior design. Architects, interior designers and landscapers all have an opinion on the front door.

Architect Andre Godin calls the front door a home`s signature piece.

http://www.canada.com/edmontonjournal/news...7b-20a6d6223266

 

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National labour shortage expected

Don`t look now, but there`s a big-time labour crunch looming in the construction industry in many parts of the country.

In fact, it`s already squeezing a few toes. A recent national survey of home builders and renovators by the Canadian Home Builders` Association found shortages of trades and labour personnel to be a "critical problem" this winter for 12 per cent of builders.

http://www.canada.com/calgaryherald/news/n...6e-f7ecb0670c75

 

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Variable-rate mortgages prove to be prudent pick

Nearly every decision when buying a new home hinges on money. The price of the property, the regularity of the payment, the mortgage term and the amortization period are all decisions dictated by money and being able to pay the mortgage on time.

There is one decision, however, that is influenced primarily by emotion and the tolerance for risk.

It`s the choice between a fixed rate and a variable rate.

http://www.canada.com/victoriatimescolonis...db-41a31bc4fb85

 

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Credit card rebate offers easy to miss

Companies like to offer money-back rebates to encourage customer loyalty. But rebate offers can be complex and unreliable, a nightmare for busy people.

Here`s a story about how Tom Lewinson missed out on $570.87 in rebates with his Costco Amex Platinum credit card. His wife Sharon missed on out $113.20 in rebates.

http://www.thestar.com/Business/article/429426

 

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Speculation the loonie may fly higher

OTTAWA

Is the Canadian loonie preparing to take flight again?

While betting on the up and down movements of a currency is risky, some economists are beginning to move off their bearish outlook for the Canadian dollar and contemplating that the loonie may be readying a move to higher ground, well above parity.

"One could make the case that the loonie is undervalued at today`s oil prices,`` says Bank of Montreal deputy chief economist Douglas Porter. "Partly, this likely reflects the fact that the foreign exchange market, for one, simply doesn`t believe today`s oil prices will last.

http://news.therecord.com/Business/article/355234

 

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Cash flow rules in business world

Have you ever had that sinking feeling in your stomach toward payday? You know the one. You`ve got to meet payroll and pay a number of your suppliers, but your accounts receivable are lagging behind and cash in the bank is insufficient to cover it.

On the surface cash flow seems pretty straightforward, but few new business owners appreciate the importance of planning for a strong cash flow.

http://www.bclocalnews.com/business/19218339.html

 

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Canadian university degree gap growing

There is a large and growing gap between Canadians when it comes to who has a university degree, with visible minorities far more likely to have a university education than white Canadians, a new study says.

The analysis of the 2006 census results by Jack Jedwab, executive director of the Association for Canadian Studies, found a 20-point gap between visible minority and white Canadians aged 35-44 years old when it comes to university education. In fact, white Canadians -- particularly white males -- were among the groups least likely to have a university degree, certificate or diploma.

http://www.canada.com/edmontonjournal/news...75-85c8dfce05f0

 

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Western prosperity buoys real estate in Maritimes

Western prosperity is helping boost prospects for Atlantic Canada`s real estate markets, a major national realtor reported Monday.

Re/Max, in its Atlantic Canada Market Trends Report 2008, said that while some markets in Nova Scotia, New Brunswick and P.E.I. have moderated, an influx of investment from western provinces has helped bolster them against the disappearance of U.S. buyers.

http://www.canada.com/vancouversun/news/bu...c0-24e6c40f9a66

 

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House listed for $1

A house has been listed for $1 in the Halifax area. Slick marketing or sleazy advertising, this sort of listing hasn`t always been successful.

Homeowner Kyle Brown was hoping to set the house apart on this street of brick-front upscale homes and score a quick sale.

"I`m sure there`s going to be a lot of people putting in their lemonade stand money that they made down the street, but other than that I think it`ll generate a lot of interest," said Brown.

http://www.canada.com/windsorstar/news/bus...5a-e836b347049d

 

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Report calls for 13% flat rate

OTTAWA -- An end to preferential tax rates for small firms is urged in a report released Tuesday by the business-backed C.D. Howe Institute.

The current system of lower tax rates for small firms discourages them from expanding, which in turn reduces the competitiveness of the Canadian economy, says the report.

"Reforming small business taxation would remove major incentives for firms to stay small, encourage their growth and make the Canadian economy more competitive overall," concludes the report, which calls for a flat federal corporate income tax rate of 13 per cent.

http://www.canada.com/reginaleaderpost/new...0c-d99c491410a0

 

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VIA Rail raises fares to counter rising fuel costs

MONTREAL -- Via Rail Canada Inc. is raising most rail fares by five per cent on June 10 to counter the soaring price of oil that`s crippled all transportation sectors.

Via initially planned to raise prices by two per cent nationally, but that amount wouldn`t offset the higher cost of diesel fuel used by company trains, spokesman Malcolm Andrews said yesterday.

http://www.canada.com/victoriatimescolonis...70-3fa7fab8c32b

 

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Soaring oil prices cause shift in global trading dynamic: study

North American factory jobs that have been lost to low-wage offshore producers could eventually be coming home, or at least closer to home, as soaring energy prices push up global transportation costs to a level that more than wipes out the savings of cheap labour in countries like China, a report by a major Canadian bank investment house says.

That may be good news for some North American workers, but not for businesses or consumers, who either way will eventually pay with higher prices for those soaring transportation costs or to repatriate those long-lost higher-wage jobs, cautions the report by CIBC World Markets.

http://www.canada.com/ottawacitizen/news/b...9e-f82a8e95f70a