June 2014 Canadian Economic Fundamentals
- Thread starter Ally
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A confirmation of where Canada's long-term job growth has occurred
In this Economy at a Glance, I`ll try to keep the text to a minimum and let the graphs do the talking.
Real estate agents like to say `location, location, location` is the most important factor when buying property.
The provision of `jobs, jobs, jobs` is probably the equivalent mantra when it comes to describing an economy`s primary role.
Read the full article here.
In this Economy at a Glance, I`ll try to keep the text to a minimum and let the graphs do the talking.
Real estate agents like to say `location, location, location` is the most important factor when buying property.
The provision of `jobs, jobs, jobs` is probably the equivalent mantra when it comes to describing an economy`s primary role.
Read the full article here.
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Will the Northern Gateway pipeline get the nod?
The Conservative government appears poised to approve the Northern Gateway oilsands pipeline ` a decision due by mid-June that could have an impact on the next federal election.
In December, the National Energy Board joint review panel conditionally approved the Enbridge Northern Gateway pipeline, which would carry oilsands bitumen from northern Alberta to the port of Kitimat, B.C. on the West Coast. The oilsands product would then be loaded onto supertankers for shipment to Asian markets.
Read the full article here.
The Conservative government appears poised to approve the Northern Gateway oilsands pipeline ` a decision due by mid-June that could have an impact on the next federal election.
In December, the National Energy Board joint review panel conditionally approved the Enbridge Northern Gateway pipeline, which would carry oilsands bitumen from northern Alberta to the port of Kitimat, B.C. on the West Coast. The oilsands product would then be loaded onto supertankers for shipment to Asian markets.
Read the full article here.
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CAAMP releases spring mortgage market report
Every six months, CAAMP's mortgage market survey gives us a pulse on mortgage activity. The theme of its latest report is understanding the "new normal" in the mortgage market.
Read the full article here.
Every six months, CAAMP's mortgage market survey gives us a pulse on mortgage activity. The theme of its latest report is understanding the "new normal" in the mortgage market.
Read the full article here.
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The housing-crash bears have been wrong for four years. Why stop now?
The housing bears seem to see a crash around every corner. The latest call comes from Capital Economics economist David Madani. He thinks recent softness in cities such as Halifax, Winnipeg and Victoria is the beginning of a decline of up to 25% in house prices.
We have been regaled with these gloomy prognostications for about six years now, ever since the U.S. housing market buckled in 2008. It`s not only getting a tad wearisome but the parade of dire scenarios may also be influencing some Canadians to take decisions that are not in their best interests.
Read the full article here.
The housing bears seem to see a crash around every corner. The latest call comes from Capital Economics economist David Madani. He thinks recent softness in cities such as Halifax, Winnipeg and Victoria is the beginning of a decline of up to 25% in house prices.
We have been regaled with these gloomy prognostications for about six years now, ever since the U.S. housing market buckled in 2008. It`s not only getting a tad wearisome but the parade of dire scenarios may also be influencing some Canadians to take decisions that are not in their best interests.
Read the full article here.
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Oil sands cause no big rise in carbon emissions in U.S., study finds
CALGARY ` It has become an article of faith among opponents of pipeline projects such as TransCanada Corp.`s Keystone XL that fast-growing oil sands exports to the United States will lead to a corresponding spike in carbon emissions in the country.
But a new report by consultancy IHS Inc. underscores what the pipeline`s supporters have said all along: A rise in U.S. emissions as a result of increased oil sands imports is not a forgone conclusion.
Read the full article here.
CALGARY ` It has become an article of faith among opponents of pipeline projects such as TransCanada Corp.`s Keystone XL that fast-growing oil sands exports to the United States will lead to a corresponding spike in carbon emissions in the country.
But a new report by consultancy IHS Inc. underscores what the pipeline`s supporters have said all along: A rise in U.S. emissions as a result of increased oil sands imports is not a forgone conclusion.
Read the full article here.
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World needs to invest US$40T to meet world energy demand
Meeting the world`s energy supply needs by 2035 will require US$40-trillion of investment, as demand grows and production and processing facilities have to be replaced, the International Energy Agency said.
More than half of that amount will be needed to compensate for declining output at mature oil and gas fields, and the remainder on finding new supplies to meet rising demand, the Paris-based agency said in a report Tuesdsay. The world will increasingly rely on countries that restrict foreign companies` access to their oil reserves, as North American shale output tails off from the middle of next decade, it predicted.
Read the full article here.
Meeting the world`s energy supply needs by 2035 will require US$40-trillion of investment, as demand grows and production and processing facilities have to be replaced, the International Energy Agency said.
More than half of that amount will be needed to compensate for declining output at mature oil and gas fields, and the remainder on finding new supplies to meet rising demand, the Paris-based agency said in a report Tuesdsay. The world will increasingly rely on countries that restrict foreign companies` access to their oil reserves, as North American shale output tails off from the middle of next decade, it predicted.
Read the full article here.
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How will first-time buyers afford a home?
recent poll by Vancouver-based credit union Vancity asked potential first-time home buyers how they would get the cash for their down payment. Some said they would take on a part-time job, some thought they would try buying lottery tickets; some suggested they would get married; and others said they would wait for an inheritance.
The poll was released to promote Vancity's new mortgage product, which provides pre-approved buyers with up to 50 per cent of their down payment. But it brought up some interesting questions of how first-time buyers in Canada's priciest real estate markets could hope to get into the real estate market.
Read the full article here.
recent poll by Vancouver-based credit union Vancity asked potential first-time home buyers how they would get the cash for their down payment. Some said they would take on a part-time job, some thought they would try buying lottery tickets; some suggested they would get married; and others said they would wait for an inheritance.
The poll was released to promote Vancity's new mortgage product, which provides pre-approved buyers with up to 50 per cent of their down payment. But it brought up some interesting questions of how first-time buyers in Canada's priciest real estate markets could hope to get into the real estate market.
Read the full article here.
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Five Canadian cities tearing up asphalt to mitigate flooding risk
OTTAWA ` They paved paradise, and put up a flood zone.
Five cities across Canada will see some of their asphalt torn up and replaced with porous brick and gravel this summer to help mitigate the flash flooding that frequently follows extreme rainfall.
Read the full article here.
OTTAWA ` They paved paradise, and put up a flood zone.
Five cities across Canada will see some of their asphalt torn up and replaced with porous brick and gravel this summer to help mitigate the flash flooding that frequently follows extreme rainfall.
Read the full article here.
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Bank of Canada keeps interest rate at 1%
OTTAWA ` The Bank of Canada kept its key interest rate on hold Wednesday, warning that the domestic economy is performing at a weaker-than expected pace and growth in the United States is also slower than hoped for.
But policymakers haven`t budged on their neutral stance of the direction of the next rate move, which is still likely to be at least a year off. The central bank hasn`t touched that benchmark since September 2010 when it was locked in at 1%.
Read the full article here.
OTTAWA ` The Bank of Canada kept its key interest rate on hold Wednesday, warning that the domestic economy is performing at a weaker-than expected pace and growth in the United States is also slower than hoped for.
But policymakers haven`t budged on their neutral stance of the direction of the next rate move, which is still likely to be at least a year off. The central bank hasn`t touched that benchmark since September 2010 when it was locked in at 1%.
Read the full article here.
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Commercial real estate: Things you should know
The profitability of commercial real estate may exceed even your highest expectations. This kind of investment requires an access to financing and some solid skills.
Before investing in commercial property, talk to the current business managers or owners that rent from the location up for sale. Ask questions of them such as if they are going to renew a lease, if they have a good business clientele and questions about the neighborhood in general. This will give you a good view of potential profits in owning commercial real estate.
Read the full article here.
The profitability of commercial real estate may exceed even your highest expectations. This kind of investment requires an access to financing and some solid skills.
Before investing in commercial property, talk to the current business managers or owners that rent from the location up for sale. Ask questions of them such as if they are going to renew a lease, if they have a good business clientele and questions about the neighborhood in general. This will give you a good view of potential profits in owning commercial real estate.
Read the full article here.
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Why Canada's middle class is now richer than the USA's
A recent New York Times piece on middle-class incomes confirms what Stephen Gordon has been telling us, that the 2000-2010 period was a strong one for after-tax incomes of the Canadian middle class. This is fantastic news`though I am always hesitant to draw strong conclusions from a single data set. In order to intepret this data, there are two important questions we need to ask:
[list type=decimal]
[*]What caused the growth in middle-class incomes to rise between 2000-10?
Will these trends continue in the future? Are these drivers of growth sustainable?
[/list type=decimal]
Read the full article here.
A recent New York Times piece on middle-class incomes confirms what Stephen Gordon has been telling us, that the 2000-2010 period was a strong one for after-tax incomes of the Canadian middle class. This is fantastic news`though I am always hesitant to draw strong conclusions from a single data set. In order to intepret this data, there are two important questions we need to ask:
[list type=decimal]
[*]What caused the growth in middle-class incomes to rise between 2000-10?
Will these trends continue in the future? Are these drivers of growth sustainable?
[/list type=decimal]
Read the full article here.
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Bank of Canada's focus on downside risks to growth sends loonie tumbling
OTTAWA ` The Bank of Canada as expected kept its trend-setting interest rate at one per cent on Wednesday, but its strong signal that it views recent economic trends negatively sent the dollar tumbling in expectation rates will remain low much longer.
Markets had anticipated the rate decision and the dovish explanation from governor Stephen Poloz, given that both the U.S. and Canadian economies underperformed expectations so far into 2014. In anticipation, markets had shaved value off the Canadian dollar versus the U.S. currency in the past two days.
Read the full article here.
OTTAWA ` The Bank of Canada as expected kept its trend-setting interest rate at one per cent on Wednesday, but its strong signal that it views recent economic trends negatively sent the dollar tumbling in expectation rates will remain low much longer.
Markets had anticipated the rate decision and the dovish explanation from governor Stephen Poloz, given that both the U.S. and Canadian economies underperformed expectations so far into 2014. In anticipation, markets had shaved value off the Canadian dollar versus the U.S. currency in the past two days.
Read the full article here.
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June mortgage rate wars - just heating up?
Lenders to continue competitive discounting tactics through summer months
There's nothing lukewarm about lenders' efforts to stay competitive in this spring's mortgage market. Rate discounting battles have risen with the mercury, providing buyers with a slew of affordable options. Lenders big and small have cut their fixed mortgage rates to 2.99 per cent and below, while variable mortgage borrowers will continue to enjoy low central and Prime rates for some time to come.
Read the full article here.
Lenders to continue competitive discounting tactics through summer months
There's nothing lukewarm about lenders' efforts to stay competitive in this spring's mortgage market. Rate discounting battles have risen with the mercury, providing buyers with a slew of affordable options. Lenders big and small have cut their fixed mortgage rates to 2.99 per cent and below, while variable mortgage borrowers will continue to enjoy low central and Prime rates for some time to come.
Read the full article here.
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Warmer weather spurs rise in recreational property sales across Canada
TORONTO, June 5, 2014 /CNW/ - After a slow start to the year, sales activity in Canada's recreational property market is beginning to pick up, according to the 2014 Royal LePage Recreational Report released today. A long and severe winter delayed the traditional spring buying season, but the arrival of waterfront-friendly weather has increased interest, is generating higher inventory levels and is driving sales activity.
The Royal LePage Recreational Property Report compiles information from a cross-Canada survey of brokers and agents who specialize in the recreational real estate market. Advisors across the country are reporting a significant increase in buyer interest and are anticipating the return of a healthy market for the remainder of the spring and summer. In many areas, snow remained well into the spring, hampering efforts to open and list summer properties, but sellers and buyers returned following the Victoria Day long weekend.
Read the full article here.
TORONTO, June 5, 2014 /CNW/ - After a slow start to the year, sales activity in Canada's recreational property market is beginning to pick up, according to the 2014 Royal LePage Recreational Report released today. A long and severe winter delayed the traditional spring buying season, but the arrival of waterfront-friendly weather has increased interest, is generating higher inventory levels and is driving sales activity.
The Royal LePage Recreational Property Report compiles information from a cross-Canada survey of brokers and agents who specialize in the recreational real estate market. Advisors across the country are reporting a significant increase in buyer interest and are anticipating the return of a healthy market for the remainder of the spring and summer. In many areas, snow remained well into the spring, hampering efforts to open and list summer properties, but sellers and buyers returned following the Victoria Day long weekend.
Read the full article here.
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Canada gains 25,800 jobs in May, but jobless rate ticks up to 7%
OTTAWA ` Job creation in Canada bounced back in May, but all of those new hires were for part-time positions and mostly in the public sector, while the unemployment rate edged up as more people entered the labour market in search of work.
Statistics Canada said Friday there were 25,800 more people employed last month, slightly higher than the private-sector consensus of 25,000.
Read the full article here.
OTTAWA ` Job creation in Canada bounced back in May, but all of those new hires were for part-time positions and mostly in the public sector, while the unemployment rate edged up as more people entered the labour market in search of work.
Statistics Canada said Friday there were 25,800 more people employed last month, slightly higher than the private-sector consensus of 25,000.
Read the full article here.
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CMHC stops offering mortgage insurance to condo developers
Canada Mortgage and Housing Corporation said Friday that it would stop offering mortgage insurance to developers to finance condominium construction, effective immediately.
Though it`s available, demand has been low. The last time the government-backed mortgage insurance agency provided any insurance for multi-unit condominium construction was 2011.
Read the full article here.
Canada Mortgage and Housing Corporation said Friday that it would stop offering mortgage insurance to developers to finance condominium construction, effective immediately.
Though it`s available, demand has been low. The last time the government-backed mortgage insurance agency provided any insurance for multi-unit condominium construction was 2011.
Read the full article here.
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To work or not to work? Women's dilemma cuts job growth
Krystyna Recoskie, expecting her third child in July, says she's done with full-time employment.
The 37-year-old wants to spend more time with her kids, so she's cut back her hours to a couple of shifts a week as a cardiac sonographer at the Children's Hospital of Eastern Ontario in Ottawa.
Read the full article here.
Krystyna Recoskie, expecting her third child in July, says she's done with full-time employment.
The 37-year-old wants to spend more time with her kids, so she's cut back her hours to a couple of shifts a week as a cardiac sonographer at the Children's Hospital of Eastern Ontario in Ottawa.
Read the full article here.