July 2014 Canadian Economic Fundamentals
- Thread starter Ally
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Lack of skilled workers could jeopardize economic future
The problem would continue to grow as the population ages, Kenney told the one-day conference, which brought together stakeholders to discuss the labour market, employee training and those under-represented in the labour force.
Read the full article here.
The problem would continue to grow as the population ages, Kenney told the one-day conference, which brought together stakeholders to discuss the labour market, employee training and those under-represented in the labour force.
Read the full article here.
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Canadian's confidence in the housing market keeps surging
SASKATOON, Saskatchewan , June 26, 2014 /CNW/ - Most Canadians expect home prices to keep on surging in 2014, according to a survey conducted by Point2 Homes, one of Canada's largest real estate portals.
Canadian respondents who anticipate an increase in residential property prices think prices will rise by an average of 8%. 73% of survey participants in Alberta are confident local prices will go up, as compared to 45% in British Columbia and 40% in Saskatchewan .
Read the full article here.
SASKATOON, Saskatchewan , June 26, 2014 /CNW/ - Most Canadians expect home prices to keep on surging in 2014, according to a survey conducted by Point2 Homes, one of Canada's largest real estate portals.
Canadian respondents who anticipate an increase in residential property prices think prices will rise by an average of 8%. 73% of survey participants in Alberta are confident local prices will go up, as compared to 45% in British Columbia and 40% in Saskatchewan .
Read the full article here.
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The kilts got them a leg up. Now they're franchising
The turning point for Men in Kilts, a window cleaning company with headquarters in Surrey, B.C., can be traced to the moment in 2009 when Tressa Wood picked up the phone and called the company`s founder, Nicholas Brand, a Vancouver resident of Scottish descent.
Ms. Wood, who had just left her post as vice-president of operations for the successful Vancouver-based franchise 1-800-Got-Junk, had noticed Men in Kilts`s trucks, which feature an image of a squeegee-wielding man in a pleated tartan skirt ` much like the company`s window cleaners, who all show up for work in kilts and work boots (with shorts or leggings preserving their modesty or body heat).
Read the full article here.
The turning point for Men in Kilts, a window cleaning company with headquarters in Surrey, B.C., can be traced to the moment in 2009 when Tressa Wood picked up the phone and called the company`s founder, Nicholas Brand, a Vancouver resident of Scottish descent.
Ms. Wood, who had just left her post as vice-president of operations for the successful Vancouver-based franchise 1-800-Got-Junk, had noticed Men in Kilts`s trucks, which feature an image of a squeegee-wielding man in a pleated tartan skirt ` much like the company`s window cleaners, who all show up for work in kilts and work boots (with shorts or leggings preserving their modesty or body heat).
Read the full article here.
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Canada's economic growth expected to accelerate after slow winter
Canada`s economy started the year with a whimper, dragged down by bad weather and an even worse U.S. economy.
Two key economic releases this week will provide a clue whether the rest of the year is any better ` gross domestic product for April on Monday and merchandise trade for May on Thursday.
Read the full article here.
Canada`s economy started the year with a whimper, dragged down by bad weather and an even worse U.S. economy.
Two key economic releases this week will provide a clue whether the rest of the year is any better ` gross domestic product for April on Monday and merchandise trade for May on Thursday.
Read the full article here.
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CMHC completes review of mortgage insurance business
OTTAWA, June 6, 2014 ` Canada Mortgage and Housing Corporation (CMHC) announced today two additional changes as it has completed the review of its homeowner and multi-unit mortgage loan insurance business. These are:
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OTTAWA, June 6, 2014 ` Canada Mortgage and Housing Corporation (CMHC) announced today two additional changes as it has completed the review of its homeowner and multi-unit mortgage loan insurance business. These are:
- CMHC mortgage loan insurance for the financing of multi-unit condominium construction will be discontinued effective immediately. CMHC`s mortgage loan insurance for the homebuyers wishing to purchase a condominium is unaffected by this change; and
CMHC will align its low-ratio transactional mortgage loan insurance product with its high-ratio product by establishing maximum house prices, amortization periods and debt servicing ratios effective July 31[sup]st[/sup].
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Mapped: Another way to look at job growth
The recovery since the Great Recession of 2008 has not been even, as shown by this map, which captures the last five years of employment growth. There`s still a lot of red in Ontario, representing cities where there are fewer jobs now than there were in 2009.
Read the full article here.
The recovery since the Great Recession of 2008 has not been even, as shown by this map, which captures the last five years of employment growth. There`s still a lot of red in Ontario, representing cities where there are fewer jobs now than there were in 2009.
Read the full article here.
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Home sales in Canada see the largest increase in 4 years
Property sales nationwide in Canada recorded a sizable month on month increase in May with growth of 5.9%, according to the latest data from the Canadian Real Estate Association.
It is the largest month on month increase in nearly four years and sales rose in four out of every five local housing markets, including almost all large urban markets.
Read the full article here.
Property sales nationwide in Canada recorded a sizable month on month increase in May with growth of 5.9%, according to the latest data from the Canadian Real Estate Association.
It is the largest month on month increase in nearly four years and sales rose in four out of every five local housing markets, including almost all large urban markets.
Read the full article here.
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Rental housing crisis needs focus from all government levels
There`s a housing crisis in York Region.
Fear not, there are still plenty of homes on the market, new ones continue to be built in our communities and prices are up and heading higher still. No, the issue to which we refer deals with those on the outside looking in when it comes to our generally affluent region.
Read the full article here.
There`s a housing crisis in York Region.
Fear not, there are still plenty of homes on the market, new ones continue to be built in our communities and prices are up and heading higher still. No, the issue to which we refer deals with those on the outside looking in when it comes to our generally affluent region.
Read the full article here.
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Can you afford a home in these cities
Housing affordability is a national disaster that begs further investigation.
The average national resale home price in May: $416,584.
The annual gross income needed to afford that price based on a 5-per-cent down payment and a five-year mortgage: $89,363.
Read the full article here.
Housing affordability is a national disaster that begs further investigation.
The average national resale home price in May: $416,584.
The annual gross income needed to afford that price based on a 5-per-cent down payment and a five-year mortgage: $89,363.
Read the full article here.
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Summer cottage sales show no signs of cooling; rebounding from winter
Canada's summer cottage market is showing no signs of cooling off as it rebounds from a long winter and late spring, national realtor group Re/Max said Wednesday.
Sales in Ontario and Atlantic Canada were up in May after a sluggish April and Re/Max is forecasting mid to high single-digit price increase for cottages, cabins, vacation condos and camps throughout the rest of the year.
"What we're seeing is a healthy and stable real estate market supported by strong economic fundamentals that we believe are going to continue moving forward, at least in the foreseeable future," said Gurinder Sandhu, director for the Atlantic Ontario region.
Read the full article here.
Canada's summer cottage market is showing no signs of cooling off as it rebounds from a long winter and late spring, national realtor group Re/Max said Wednesday.
Sales in Ontario and Atlantic Canada were up in May after a sluggish April and Re/Max is forecasting mid to high single-digit price increase for cottages, cabins, vacation condos and camps throughout the rest of the year.
"What we're seeing is a healthy and stable real estate market supported by strong economic fundamentals that we believe are going to continue moving forward, at least in the foreseeable future," said Gurinder Sandhu, director for the Atlantic Ontario region.
Read the full article here.
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Renovation spending in Canada increases from HGTV effect
Canada`s renovation industry is now bigger than the new homes sector, reaching $63.4-billion, according to a report from Toronto-based real estate consultants Altus Group.
Altus says that the boom in home renovations is being driven by what it calls the `HGTV Effect.` The home renovations-oriented TV station was launched in 1997. Home renovation spending has been rising every year since 1999, even in the face of a serious recession that hit Canada in 2008.
Read the full article here.
Canada`s renovation industry is now bigger than the new homes sector, reaching $63.4-billion, according to a report from Toronto-based real estate consultants Altus Group.
Altus says that the boom in home renovations is being driven by what it calls the `HGTV Effect.` The home renovations-oriented TV station was launched in 1997. Home renovation spending has been rising every year since 1999, even in the face of a serious recession that hit Canada in 2008.
Read the full article here.
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Canadian economy headed in right direction
OTTAWA - Canadian exports to foreign markets surged by a surprisingly robust 3.5 per cent in May, narrowing the country's trade deficit and setting the economy on a more sustainable growth path.
For contribution to economic output, the Statistics Canada report was even more encouraging as volumes increased by an even bigger 4.2 per cent, as price drops shaved 0.7 per cent from the value of shipments.
Read the full article here.
OTTAWA - Canadian exports to foreign markets surged by a surprisingly robust 3.5 per cent in May, narrowing the country's trade deficit and setting the economy on a more sustainable growth path.
For contribution to economic output, the Statistics Canada report was even more encouraging as volumes increased by an even bigger 4.2 per cent, as price drops shaved 0.7 per cent from the value of shipments.
Read the full article here.
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How the loonie is flying farther off course and defying policy makers
OTTAWA ` The Canadian dollar has not been following the game plan of policymakers.
Instead, it has gradually gained ground on the U.S. currency and could threaten the competitive advantage we may have had in our biggest export market, and likely some others.
Read the full article here.
OTTAWA ` The Canadian dollar has not been following the game plan of policymakers.
Instead, it has gradually gained ground on the U.S. currency and could threaten the competitive advantage we may have had in our biggest export market, and likely some others.
Read the full article here.
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High prices, low mortgage rates should be red flags on housing market: OSFI
OTTAWA - Canada's banking regulator is warning both lenders and borrowers to be careful about moving deeper into the still pricey housing market, saying the risks are increasing and are likely to remain elevated.
In a speech at a housing conference in Toronto, Mark Zelmer, the regulator's second in command, gave a general caution to lenders, mortgage insurers and borrowers.
Read the full article here.
OTTAWA - Canada's banking regulator is warning both lenders and borrowers to be careful about moving deeper into the still pricey housing market, saying the risks are increasing and are likely to remain elevated.
In a speech at a housing conference in Toronto, Mark Zelmer, the regulator's second in command, gave a general caution to lenders, mortgage insurers and borrowers.
Read the full article here.
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Household debt worries ease as pace of mortgage borrowing slows in May
Royal Bank says Canadians have been slowing down the amount of debt they are taking on to buy real estate, easing concerns about household vulnerability.
The RBC paper notes that overall household debt accumulation remained flat-lined at 4.2 per cent growth in May, about the same level as the previous three months.
Read the full article here.
Royal Bank says Canadians have been slowing down the amount of debt they are taking on to buy real estate, easing concerns about household vulnerability.
The RBC paper notes that overall household debt accumulation remained flat-lined at 4.2 per cent growth in May, about the same level as the previous three months.
Read the full article here.
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Canadian house prices will rise 5-6 percent for the remainder of 2014
TORONTO - Canada's housing market will continue to stay hot for the rest of the year, with home prices expected to rise on low interest rates and increased demand, says a report by TD Economics.
The bank upgraded its forecast for the real estate sector Thursday, predicting that home prices will gain an average of five to six per cent by the end of 2014.
Read the full article here.
TORONTO - Canada's housing market will continue to stay hot for the rest of the year, with home prices expected to rise on low interest rates and increased demand, says a report by TD Economics.
The bank upgraded its forecast for the real estate sector Thursday, predicting that home prices will gain an average of five to six per cent by the end of 2014.
Read the full article here.
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Frustration brews over temporary workers
The overhaul for the Temporary Foreign Workers (TFW) program is being met with frustration at the federal government`s plan to significantly reduce access.
A critical lifeline for many employers, the changes will make it more difficult for entrepreneurs in Alberta to meet their labour force needs when competing with government and multi-national oil and gas conglomerates, argues Richard Truscott, the province`s director for the Canadian Federation of Independent Business (CFIB).
Read the full article here.
The overhaul for the Temporary Foreign Workers (TFW) program is being met with frustration at the federal government`s plan to significantly reduce access.
A critical lifeline for many employers, the changes will make it more difficult for entrepreneurs in Alberta to meet their labour force needs when competing with government and multi-national oil and gas conglomerates, argues Richard Truscott, the province`s director for the Canadian Federation of Independent Business (CFIB).
Read the full article here.