May 2013 Canadian Economic Fundamentals
- Thread starter Ally
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There will be oil: Approval of Keystone XL not an XL-sized problem
The increasingly contentious debate over the environmental impact of TransCanada Corp's (TRP) Keystone XL Pipeline obscures the oil and gas industry's pursuit of alternative means to deliver rising production from Canada's oil sands to the U.S. and other markets.
Facing lower price realizations in oil-glutted Western Canada, enterprising oil-sands producers have already turned to railways to deliver their output to the US market. In fact, weekly car loadings of petroleum products originating from Canada hit an all-time high in mid-February.
Read the full article here.
The increasingly contentious debate over the environmental impact of TransCanada Corp's (TRP) Keystone XL Pipeline obscures the oil and gas industry's pursuit of alternative means to deliver rising production from Canada's oil sands to the U.S. and other markets.
Facing lower price realizations in oil-glutted Western Canada, enterprising oil-sands producers have already turned to railways to deliver their output to the US market. In fact, weekly car loadings of petroleum products originating from Canada hit an all-time high in mid-February.
Read the full article here.
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For Gen Y, renting sounds great - but try to find an affordable place
It`s a tough time to be a renter. I was rejected ` and yes, I`m feeling pretty sorry for myself.
After searching for a bigger apartment on and off for the better part of a year, my partner Don and I finally put in an application for a place we liked. We have excellent credit scores, steady jobs and good references. We were confident the landlords would choose us. Why wouldn`t they?
Read the full article here.
It`s a tough time to be a renter. I was rejected ` and yes, I`m feeling pretty sorry for myself.
After searching for a bigger apartment on and off for the better part of a year, my partner Don and I finally put in an application for a place we liked. We have excellent credit scores, steady jobs and good references. We were confident the landlords would choose us. Why wouldn`t they?
Read the full article here.
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Foreign workers face a changing landscape
MONTREAL - Anyone who`s been to downtown St-RÃmi on a Thursday night in the summer has seen how the population swells with labourers from Mexico and Guatemala, hired to pick the fruits and vegetables ` a job that most Quebecers won`t do.
Even the grocery clerks at the local IGA in this town south of Montreal are learning Spanish.
Read the full article here.
MONTREAL - Anyone who`s been to downtown St-RÃmi on a Thursday night in the summer has seen how the population swells with labourers from Mexico and Guatemala, hired to pick the fruits and vegetables ` a job that most Quebecers won`t do.
Even the grocery clerks at the local IGA in this town south of Montreal are learning Spanish.
Read the full article here.
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Surprising 2-month growth spurt at beginning of year casts national economy in rosier light
OTTAWA ` The Canadian economy appears to be gathering steam, to the surprise of many, with better-than-expected growth rates in the first two months of the year that have many analysts revising their miserly forecasts for the year.
In the first welcome economic news in several weeks, Statistics Canada reported Tuesday that the country`s output expanded by 0.3 per cent in February. What`s more it revised upward an earlier calculation for January by one notch, also to 0.3 per cent.
Read the full article here.
OTTAWA ` The Canadian economy appears to be gathering steam, to the surprise of many, with better-than-expected growth rates in the first two months of the year that have many analysts revising their miserly forecasts for the year.
In the first welcome economic news in several weeks, Statistics Canada reported Tuesday that the country`s output expanded by 0.3 per cent in February. What`s more it revised upward an earlier calculation for January by one notch, also to 0.3 per cent.
Read the full article here.
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April auto sales up in Canada, U.S.
The vehicle market bounced back to life in Canada last month after sputtering during the first three months of the year.
Canadians drove 171,807 new vehicles off dealers` lots in April, up 9 per cent from a year earlier and the strongest April for sales since 2008.
In the U.S. market, sales fell off slightly from the pace they had been for the past several months, but big increases in pickup truck sales for the Detroit Three auto makers offered at least one signal that the turnaround in the U.S. housing market is starting to pick up steam.
Read the full article here.
The vehicle market bounced back to life in Canada last month after sputtering during the first three months of the year.
Canadians drove 171,807 new vehicles off dealers` lots in April, up 9 per cent from a year earlier and the strongest April for sales since 2008.
In the U.S. market, sales fell off slightly from the pace they had been for the past several months, but big increases in pickup truck sales for the Detroit Three auto makers offered at least one signal that the turnaround in the U.S. housing market is starting to pick up steam.
Read the full article here.
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Bank of Canada names new governor
TORONTO Canada`s central bank on Thursday named its new governor to replace outgoing regulator Mark Carney, who is leaving to head the Bank of England.
Finance Minister Jim Flaherty said Stephen Poloz will take the top job at the Bank of Canada. Poloz, the former president and CEO of Economic Development Canada, has spent 14 years with the Bank of Canada in various capacities.
Read the full article here.
TORONTO Canada`s central bank on Thursday named its new governor to replace outgoing regulator Mark Carney, who is leaving to head the Bank of England.
Finance Minister Jim Flaherty said Stephen Poloz will take the top job at the Bank of Canada. Poloz, the former president and CEO of Economic Development Canada, has spent 14 years with the Bank of Canada in various capacities.
Read the full article here.
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Half of Canada's mid-sized cities have not recovered from the recession
Some of Canada`s mid-sized cities are flourishing ` but not all: Almost half of them have not recouped the jobs they lost during the recession.
New analysis by the Conference Board of Canada finds that 21 of the 46 medium-sized cities it tracks haven`t yet seen employment return to pre-recession levels.
Read the full article here.
Some of Canada`s mid-sized cities are flourishing ` but not all: Almost half of them have not recouped the jobs they lost during the recession.
New analysis by the Conference Board of Canada finds that 21 of the 46 medium-sized cities it tracks haven`t yet seen employment return to pre-recession levels.
Read the full article here.
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Where's the job growth in mid-sized cities?
Ottawa ` Nearly half of the 46 mid-sized Canadian cities covered in The Conference Board of Canada`s first Mid-Sized Cities Outlook 2013 have not recovered all the jobs lost during the recession, based on historical economic data between 2005 and 2012.
`The employment picture has been uneven among Canada`s mid-sized cities over the past decade or so. A total of 21 cities have yet to see their employment levels return to pre-recession levels. This is a troubling turn of events, given that these mid-sized cities play an important role as economic engines in their respective regions,` said Mario Lefebvre, director, Centre for Municipal Studies.
Read the full article here.
Ottawa ` Nearly half of the 46 mid-sized Canadian cities covered in The Conference Board of Canada`s first Mid-Sized Cities Outlook 2013 have not recovered all the jobs lost during the recession, based on historical economic data between 2005 and 2012.
`The employment picture has been uneven among Canada`s mid-sized cities over the past decade or so. A total of 21 cities have yet to see their employment levels return to pre-recession levels. This is a troubling turn of events, given that these mid-sized cities play an important role as economic engines in their respective regions,` said Mario Lefebvre, director, Centre for Municipal Studies.
Read the full article here.
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The real cost of smoking tenants
The study, sponsored by smoking-cessation drug producer Pfizer Canada, canvassed 401 real estate agents and brokers for their take on selling properties where smoking routinely took place.
Some 56 per cent of those real estate professionals said buyers are less likely to purchase a home where people have smoked.
About 27 per cent said buyers are flat-out unwilling to buy a home where resident`s smoked.
Read the full article here.
The study, sponsored by smoking-cessation drug producer Pfizer Canada, canvassed 401 real estate agents and brokers for their take on selling properties where smoking routinely took place.
Some 56 per cent of those real estate professionals said buyers are less likely to purchase a home where people have smoked.
About 27 per cent said buyers are flat-out unwilling to buy a home where resident`s smoked.
Read the full article here.
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Four easy ways to reduce your mortgage costs
Christina and Darryl George have a mortgage, but that doesn`t keep them from saving for their next one.
The Georges live in a two-bedroom condo across from High Park. In the next couple of years, they hope to buy a house west of Toronto.
They plan to use the equity they`ve already built up in the condo towards their next home. They want to save even more so they can make a bigger down payment. But that`s not the only reason.
Read the full article here.
Christina and Darryl George have a mortgage, but that doesn`t keep them from saving for their next one.
The Georges live in a two-bedroom condo across from High Park. In the next couple of years, they hope to buy a house west of Toronto.
They plan to use the equity they`ve already built up in the condo towards their next home. They want to save even more so they can make a bigger down payment. But that`s not the only reason.
Read the full article here.
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Early exit from a mortgage can cost you dearly
When you buy a house and sign up for a fixed-rate mortgage, you probably don`t ask about the cost of getting out early.
But life is full of surprises ` and if you have to sell or refinance before the mortgage term ends, you can be hit with a monstrous penalty.
Read the full article here.
When you buy a house and sign up for a fixed-rate mortgage, you probably don`t ask about the cost of getting out early.
But life is full of surprises ` and if you have to sell or refinance before the mortgage term ends, you can be hit with a monstrous penalty.
Read the full article here.
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How Canada is winning the race in recruiting skilled immigrants while the U.S. lags behind
When a recruiter called last year about a position as a mechanic in British Columbia, Paul Thomas said he could hardly believe it.
Thomas`s annual income had dropped to US$40,000 a year from US$100,000 as business slowed at the Atlanta auto dealership where he worked. He`d filed for bankruptcy, his house was in foreclosure and other jobs were hard to find even with his resume posted online. Starting a new life in Canada sounded appealing.
Read the full article here.
When a recruiter called last year about a position as a mechanic in British Columbia, Paul Thomas said he could hardly believe it.
Thomas`s annual income had dropped to US$40,000 a year from US$100,000 as business slowed at the Atlanta auto dealership where he worked. He`d filed for bankruptcy, his house was in foreclosure and other jobs were hard to find even with his resume posted online. Starting a new life in Canada sounded appealing.
Read the full article here.
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Do foreign workers 'distort' the job market?
Canada's temporary foreign worker program was under renewed scrutiny Tuesday as a new report suggested the increasingly controversial system "could be distorting" the natural supply and demand of the country's labour market.
The University of Calgary study suggests Canada isn't facing a wide-scale labour shortage but rather is experiencing a "serious mismatch" between the skills of its labour force and the demands of the labour market.
Read the full article here.
Canada's temporary foreign worker program was under renewed scrutiny Tuesday as a new report suggested the increasingly controversial system "could be distorting" the natural supply and demand of the country's labour market.
The University of Calgary study suggests Canada isn't facing a wide-scale labour shortage but rather is experiencing a "serious mismatch" between the skills of its labour force and the demands of the labour market.
Read the full article here.
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Changes coming to CMHC
Canada Mortgage and Housing Corp., the country`s national housing agency, is finally on the path to being operated like a significant financial player which it has morphed into during the past decade.
A new chairman of the board, a soon-to-be unveiled chief executive and a new reporting structure that will overhaul its operations are the tangible indications of the fundamental changes playing out behind closed doors at the Crown corporation that have been set in motion by the federal government.
Read the full article here.
Canada Mortgage and Housing Corp., the country`s national housing agency, is finally on the path to being operated like a significant financial player which it has morphed into during the past decade.
A new chairman of the board, a soon-to-be unveiled chief executive and a new reporting structure that will overhaul its operations are the tangible indications of the fundamental changes playing out behind closed doors at the Crown corporation that have been set in motion by the federal government.
Read the full article here.
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Starts continue to slow, but no signs of housing crash yet
OTTAWA ` Canada`s once-sizzling housing market continues to fall back to more sustainable levels, but as yet is managing to avoid the earmarks of a damaging crash that would spill over into the general economy.
The latest data on housing starts from Canada Mortgage and Housing Corp. shows construction fell to 15,390 for a seasonally adjusted annual rate of 174,858 units in April, moderately lower than the upwardly revised 181,146 recorded in March.
Read the full article here.
OTTAWA ` Canada`s once-sizzling housing market continues to fall back to more sustainable levels, but as yet is managing to avoid the earmarks of a damaging crash that would spill over into the general economy.
The latest data on housing starts from Canada Mortgage and Housing Corp. shows construction fell to 15,390 for a seasonally adjusted annual rate of 174,858 units in April, moderately lower than the upwardly revised 181,146 recorded in March.
Read the full article here.
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Condos drag down housing market
Canada`s once-sizzling housing market continues to fall back to more sustainable levels, but as yet is managing to avoid the earmarks of a damaging crash that would spill over into the general economy.
The latest data on housing starts from Canada Mortgage and Housing Corp. shows construction fell to 15,390 for a seasonally adjusted annual rate of 174,858 units in April, moderately lower than the upwardly revised 181,146 recorded in March.
Read the full article here.
Canada`s once-sizzling housing market continues to fall back to more sustainable levels, but as yet is managing to avoid the earmarks of a damaging crash that would spill over into the general economy.
The latest data on housing starts from Canada Mortgage and Housing Corp. shows construction fell to 15,390 for a seasonally adjusted annual rate of 174,858 units in April, moderately lower than the upwardly revised 181,146 recorded in March.
Read the full article here.
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Newcomers to Canada opt for smaller cities
Once synonymous with Canada among immigrants, Toronto continues to lose its lustre when it comes to attracting and retaining newcomers, according to the first wave of data from the National Household Survey.
Released Wednesday by Statistics Canada, the 2011 numbers reveal that Toronto's share of newcomers fell to 32.8 per cent, down from 40.4 per cent in 2006, while Vancouver's share dropped to 13.3 per cent from 13.7 per cent. Montreal was the only Big Three immigration city to post a gain: 16.3 per cent of newcomers, versus 14.9 per cent in 2006.
Read the full article here.
Once synonymous with Canada among immigrants, Toronto continues to lose its lustre when it comes to attracting and retaining newcomers, according to the first wave of data from the National Household Survey.
Released Wednesday by Statistics Canada, the 2011 numbers reveal that Toronto's share of newcomers fell to 32.8 per cent, down from 40.4 per cent in 2006, while Vancouver's share dropped to 13.3 per cent from 13.7 per cent. Montreal was the only Big Three immigration city to post a gain: 16.3 per cent of newcomers, versus 14.9 per cent in 2006.
Read the full article here.
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New home prices edge higher
A key index of new home prices edged up by 0.1 per cent in the month of March, largely on the strength of the booming Calgary real estate market, Statistics Canada said Thursday.
New house prices rose 0.3 per cent in Calgary from February's level, making it the biggest contributor to the rise in the agency's new home price index.
Read the full article here.
A key index of new home prices edged up by 0.1 per cent in the month of March, largely on the strength of the booming Calgary real estate market, Statistics Canada said Thursday.
New house prices rose 0.3 per cent in Calgary from February's level, making it the biggest contributor to the rise in the agency's new home price index.
Read the full article here.
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BMO report shows safety, quiet street, and good neighbours are top priorities for homebuyers
ONTARIO -- (Marketwired) -- 05/09/13 -- While there are a number of factors to consider when deciding on the right location to buy a home, Canadians view the safety of a neighbourhood to be the most important (63 per cent) feature of a home's location, according to a new BMO Bank of Montreal survey.
The survey, conducted by Pollara, also found that living on a quiet street (43 per cent), having good neighbours (30 per cent), having a short commute to work (28 per cent) and being near family and friends (25 per cent) rank high on Canadians' list of location priorities when buying a home.
Read the full article here.
ONTARIO -- (Marketwired) -- 05/09/13 -- While there are a number of factors to consider when deciding on the right location to buy a home, Canadians view the safety of a neighbourhood to be the most important (63 per cent) feature of a home's location, according to a new BMO Bank of Montreal survey.
The survey, conducted by Pollara, also found that living on a quiet street (43 per cent), having good neighbours (30 per cent), having a short commute to work (28 per cent) and being near family and friends (25 per cent) rank high on Canadians' list of location priorities when buying a home.
Read the full article here.