January 2013 Canadian Economic Fundamentals
- Thread starter Ally
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Global slowdown to hit Canadian economy, stock markets in 2013, economists say
A slowing housing market and uncertainty over the shape of a deal on the U.S. `fiscal cliff` are putting a lid on projections for economic growth and stock market gains in 2013.
Most forecasts see Canada`s GDP expanding by only 1.8 per cent or so in 2013, down from an estimated 2.0 per cent in 2012.
Read the full article here.
A slowing housing market and uncertainty over the shape of a deal on the U.S. `fiscal cliff` are putting a lid on projections for economic growth and stock market gains in 2013.
Most forecasts see Canada`s GDP expanding by only 1.8 per cent or so in 2013, down from an estimated 2.0 per cent in 2012.
Read the full article here.
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Canadian talent war set to get bloody in 2013
A skills shortage has taken hold in B.C. and elsewhere in Canada, and research shows that one in every four CEOs is holding back on business initiatives because he or she can't find the right person for the job ` or enough people period.
Read the full article here.
A skills shortage has taken hold in B.C. and elsewhere in Canada, and research shows that one in every four CEOs is holding back on business initiatives because he or she can't find the right person for the job ` or enough people period.
Read the full article here.
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2012 Mortgage market performance
Most Canadian interest rates ended 2012 not far from where they began. That`s due, in part, to no rate changes by the Bank of Canada.
Likewise, investors found little economic justification to move long-term bond yields in 2012. (Bond yields influence fixed mortgage rates.) The result was that prime rate and 5-year mortgage rates essentially stayed put.
Read the full article here.
Most Canadian interest rates ended 2012 not far from where they began. That`s due, in part, to no rate changes by the Bank of Canada.
Likewise, investors found little economic justification to move long-term bond yields in 2012. (Bond yields influence fixed mortgage rates.) The result was that prime rate and 5-year mortgage rates essentially stayed put.
Read the full article here.
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Real estate boom, meet dot com crash?
Housing market, meet the stock market.
You two have a lot in common, though plenty of people believe you're worlds apart. They think the housing market is a smart place to invest, while stocks are treacherous. They're half right. Stocks do have a nasty side, but so does residential real estate.
Read the full article here.
Housing market, meet the stock market.
You two have a lot in common, though plenty of people believe you're worlds apart. They think the housing market is a smart place to invest, while stocks are treacherous. They're half right. Stocks do have a nasty side, but so does residential real estate.
Read the full article here.
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Canadian cities: An economic snapshot
The CIBCWM Metropolitan Economic Activity Index is a measure designed to assess the relative performance of Canada`s major cities using yearly changes for nine key macroeconomic variables and drivers of economic growth. For any given city, the index provides a consistent base for comparison with other cities and/or with the aggregate performance of all other Census Metropolitan Areas (CMAs).
Read the full article here.
The CIBCWM Metropolitan Economic Activity Index is a measure designed to assess the relative performance of Canada`s major cities using yearly changes for nine key macroeconomic variables and drivers of economic growth. For any given city, the index provides a consistent base for comparison with other cities and/or with the aggregate performance of all other Census Metropolitan Areas (CMAs).
Read the full article here.
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Harper government provides continued tax credit relief in 2013
OTTAWA, ONTARIO--(Marketwire - Jan. 2, 2013) - The Honourable Gail Shea, Minister of National Revenue, today highlighted the tax relief measures that the Harper Government has made available to Canadians through Canada's Economic Action Plan. As Canadians prepare to file their 2012 taxes, they will be able to claim the Family Caregiver Tax Credit for the first time. This new tax relief measure is only one of many introduced since 2006 to keep taxes low for Canadian families and businesses.
Read the full article here.
OTTAWA, ONTARIO--(Marketwire - Jan. 2, 2013) - The Honourable Gail Shea, Minister of National Revenue, today highlighted the tax relief measures that the Harper Government has made available to Canadians through Canada's Economic Action Plan. As Canadians prepare to file their 2012 taxes, they will be able to claim the Family Caregiver Tax Credit for the first time. This new tax relief measure is only one of many introduced since 2006 to keep taxes low for Canadian families and businesses.
Read the full article here.
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9 tips for high value home appraisals
When my husband and I decided to move into a more family friendly home, we decided not to sell our first home. Instead, we rented it out.
To avoid a huge capital gains tax bill later on`when we do decide to sell the house`we opted to pay for a home appraisal. At a cost of $300 to $500, depending on how big or extensive your property is, the appraisal provides an up to date current market value for a home. We can then use this value to calculate whatever capital gains we may need to pay on the home, rather then using our purchase price (we`d done extensive renovations to the house and knew the value had increased since we`d moved in).
Read the full article here.
When my husband and I decided to move into a more family friendly home, we decided not to sell our first home. Instead, we rented it out.
To avoid a huge capital gains tax bill later on`when we do decide to sell the house`we opted to pay for a home appraisal. At a cost of $300 to $500, depending on how big or extensive your property is, the appraisal provides an up to date current market value for a home. We can then use this value to calculate whatever capital gains we may need to pay on the home, rather then using our purchase price (we`d done extensive renovations to the house and knew the value had increased since we`d moved in).
Read the full article here.
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Office space demand to rise in the latter half of 2013
TORONTO - A new report says continued low interest rates and a slow drop in the value of the Canadian dollar, among other things, will increase demand for office space in the second half of 2013.
Cushman & Wakefield says while demand will be stable for the first half of this year, positive demand conditions are expected to follow.
Read the full article here.
TORONTO - A new report says continued low interest rates and a slow drop in the value of the Canadian dollar, among other things, will increase demand for office space in the second half of 2013.
Cushman & Wakefield says while demand will be stable for the first half of this year, positive demand conditions are expected to follow.
Read the full article here.
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Is Toronto's economy set to lose momentum?
Toronto and Calgary are running just about neck-and-neck where their economies are concerned, but that may be about to change.
A ranking of major Canadian cities by CIBC World Markets shows Toronto leading the pack as of the third quarter of 2012, followed by Calgary as a close second, Regina and Winnipeg.
Read the full article here.
Toronto and Calgary are running just about neck-and-neck where their economies are concerned, but that may be about to change.
A ranking of major Canadian cities by CIBC World Markets shows Toronto leading the pack as of the third quarter of 2012, followed by Calgary as a close second, Regina and Winnipeg.
Read the full article here.
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Canada's housing hangover: real estate boom, meet dotcom crash
Housing market, meet the stock market.
You two have a lot in common, though plenty of people believe you`re worlds apart. They think the housing market is a very smart place to invest, while stocks are treacherous. They`re half right. Stocks do have a nasty side, but so does residential real estate.
We may be seeing it emerge in the latest resale housing numbers. Sales across Canada fell 12 per cent on a year-over-year basis in November, and prices dipped almost 1 per cent. Vancouver sales were down 29 per cent, and prices fell 1.7 per cent; Toronto sales fell 16 per cent, while prices moved 1.6 per cent higher.
Read the full article here.
Housing market, meet the stock market.
You two have a lot in common, though plenty of people believe you`re worlds apart. They think the housing market is a very smart place to invest, while stocks are treacherous. They`re half right. Stocks do have a nasty side, but so does residential real estate.
We may be seeing it emerge in the latest resale housing numbers. Sales across Canada fell 12 per cent on a year-over-year basis in November, and prices dipped almost 1 per cent. Vancouver sales were down 29 per cent, and prices fell 1.7 per cent; Toronto sales fell 16 per cent, while prices moved 1.6 per cent higher.
Read the full article here.
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Why housing prices aren't coming back
Numbers don`t lie ` especially about Canada`s overheated housing sector. Increases in home prices in recent years have not been matched by underlying increases in fundamentals. The market is due for a severe correction.
One particularly telling statistic is housing investment as a share of GDP. This ratio has steadily climbed toward a record high over the past two years. It is now more than 7 per cent of GDP versus a 50-year average of 5.8 per cent and previous peaks of about 7.26 per cent in the late 1970s and 7.18 per cent in the late 1980s. After residential housing investment as a percentage of GDP peaked in the previous two cycles, the housing market crashed within a few years.
Read the full article here.
Numbers don`t lie ` especially about Canada`s overheated housing sector. Increases in home prices in recent years have not been matched by underlying increases in fundamentals. The market is due for a severe correction.
One particularly telling statistic is housing investment as a share of GDP. This ratio has steadily climbed toward a record high over the past two years. It is now more than 7 per cent of GDP versus a 50-year average of 5.8 per cent and previous peaks of about 7.26 per cent in the late 1970s and 7.18 per cent in the late 1980s. After residential housing investment as a percentage of GDP peaked in the previous two cycles, the housing market crashed within a few years.
Read the full article here.
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Canada's job growth blows forecasts out of the water - again
OTTAWA ` Canada`s job-growth momentum continued to strengthen in December, confounding forecasters who expected hiring to slow after and unexpected surge a month earlier.
Most surprising, all of last month`s new positions were full-time, and most of those were in the private sector ` a similar pattern to November.
Read the full article here.
OTTAWA ` Canada`s job-growth momentum continued to strengthen in December, confounding forecasters who expected hiring to slow after and unexpected surge a month earlier.
Most surprising, all of last month`s new positions were full-time, and most of those were in the private sector ` a similar pattern to November.
Read the full article here.
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Job gains drive jobless rate to 4 year low
OTTAWA--The Canadian economy added almost eight times more jobs than expected in December, driving the unemployment rate down unexpectedly to a four-year low, and will likely keep intact the central bank's mildly hawkish bias on interest rates.
A total of 39,800 net new jobs were created--all full-time and primarily in the private sector--marking the fourth outsized gain in five months, including 59,800 in November, Statistics Canada said Friday. The jobless rate dropped from 7.2% to 7.1%, the lowest since the 6.8% posted in December 2008.
Read the full article here.
OTTAWA--The Canadian economy added almost eight times more jobs than expected in December, driving the unemployment rate down unexpectedly to a four-year low, and will likely keep intact the central bank's mildly hawkish bias on interest rates.
A total of 39,800 net new jobs were created--all full-time and primarily in the private sector--marking the fourth outsized gain in five months, including 59,800 in November, Statistics Canada said Friday. The jobless rate dropped from 7.2% to 7.1%, the lowest since the 6.8% posted in December 2008.
Read the full article here.
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Private sector should finish taking on CMHC's role
When the forerunner of the Canada Mortgage and Housing Corporation opened shop in 1946, its job was to help war veterans find housing. From those humble beginnings, CMHC has emerged as a financial market giant. As this baby-boom behemoth contemplates life after 65, it, like many of us, should consider a more modest public role.
Read the full article here.
When the forerunner of the Canada Mortgage and Housing Corporation opened shop in 1946, its job was to help war veterans find housing. From those humble beginnings, CMHC has emerged as a financial market giant. As this baby-boom behemoth contemplates life after 65, it, like many of us, should consider a more modest public role.
Read the full article here.
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Who for excellence in real estate investment
TORONTO, CANADA, January 4, 2013 /24-7PressRelease/ -- David Franklin, President of Denvail Investment Inc., has been recognized by Worldwide Who's Who for showing dedication, leadership and excellence in real estate investment.
Mr. Franklin has 39 years of experience as a lawyer, with 32 years as president of Denvail Investment Inc. His areas of expertise include tax, real estate, and security law. Mr. Franklin is a lawyer and chairman and counsel for his company, Denvail Investment Inc., as well as the U.S. Property Shop and The Real Estate Investment Network, REIN Canada. For U.S. Property Shop, he does research, including legal and market conditions and works with companies that buy properties at auctions and at distressed prices from the market, then renovate, rent, manage and market them to investors. REIN Canada, Canada's leading resource center for real estate education, analysis, research and leadership has over 2,500 members and has educated over 25,000 who have purchased over $4 billion worth of residential properties. Its objective is to educate clients and provide members of the general public with all of the investing tools that they will need to build long-term wealth for its members and their families.
Read the full article here.
TORONTO, CANADA, January 4, 2013 /24-7PressRelease/ -- David Franklin, President of Denvail Investment Inc., has been recognized by Worldwide Who's Who for showing dedication, leadership and excellence in real estate investment.
Mr. Franklin has 39 years of experience as a lawyer, with 32 years as president of Denvail Investment Inc. His areas of expertise include tax, real estate, and security law. Mr. Franklin is a lawyer and chairman and counsel for his company, Denvail Investment Inc., as well as the U.S. Property Shop and The Real Estate Investment Network, REIN Canada. For U.S. Property Shop, he does research, including legal and market conditions and works with companies that buy properties at auctions and at distressed prices from the market, then renovate, rent, manage and market them to investors. REIN Canada, Canada's leading resource center for real estate education, analysis, research and leadership has over 2,500 members and has educated over 25,000 who have purchased over $4 billion worth of residential properties. Its objective is to educate clients and provide members of the general public with all of the investing tools that they will need to build long-term wealth for its members and their families.
Read the full article here.
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London falls, Canada leaps in global investment banking
China is growing, London remains crucial as a global financial centre, but the real money in investment banking lately is in Canada.
For the first time since Thomson Reuters began tracking fees in 2000, Canadian deals produced more investment banking fees than those in any country save the United States last year. Canada jumped to the No. 2 spot globally in 2012 from No. 4, according to Thomson Reuters, leapfrogging much bigger countries.
Read the full article here.
China is growing, London remains crucial as a global financial centre, but the real money in investment banking lately is in Canada.
For the first time since Thomson Reuters began tracking fees in 2000, Canadian deals produced more investment banking fees than those in any country save the United States last year. Canada jumped to the No. 2 spot globally in 2012 from No. 4, according to Thomson Reuters, leapfrogging much bigger countries.
Read the full article here.
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Calculating the optimal debt load
Our household debt is at a record high and gets higher every time Statistics Canada releases new data on debt-to-income ratios.
From 84% in 1990 to 164.6% today ` it`s an alarming leap, a dramatic number that may actually have scared some of us into doing something about our debt load.
But is this statistic a fair measurement of our relative wealth? Is taking all debt and dividing by after-tax income (then multiplying by 100 to get a percentage) ` lumping everything into one basket ` the be-all and end-all of statistics?
Read the full article here.
Our household debt is at a record high and gets higher every time Statistics Canada releases new data on debt-to-income ratios.
From 84% in 1990 to 164.6% today ` it`s an alarming leap, a dramatic number that may actually have scared some of us into doing something about our debt load.
But is this statistic a fair measurement of our relative wealth? Is taking all debt and dividing by after-tax income (then multiplying by 100 to get a percentage) ` lumping everything into one basket ` the be-all and end-all of statistics?
Read the full article here.
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Will higher tax rates abroad have millions knocking on Canada's door?
When it comes to taxes, the oft-mentioned magic number is 50%.
Once taxes exceed 50%, people become extremely offended that half of their money is going to the government, says Peter Megoudis, a partner at Deloitte LLP.
French movie star GÃrard Depardieu, for example, was so offended by France`s proposed 75% tax on income over `1-million ($1.3-million) that he announced he was packing his bags; then Thursday, President Vladimir Putin granted him citizenship in Russia where the flat income tax rate is 13%.
Read the full article here.
When it comes to taxes, the oft-mentioned magic number is 50%.
Once taxes exceed 50%, people become extremely offended that half of their money is going to the government, says Peter Megoudis, a partner at Deloitte LLP.
French movie star GÃrard Depardieu, for example, was so offended by France`s proposed 75% tax on income over `1-million ($1.3-million) that he announced he was packing his bags; then Thursday, President Vladimir Putin granted him citizenship in Russia where the flat income tax rate is 13%.
Read the full article here.