Author: Dave Teixeira
This morning, The Canadian Real Estate Association (CREA) released its national real estate statistics for September, which showed a modest uptick in home sales nationally, as new listings ticked up and home prices increased once again. For Canada as a whole, the number of homes trading on the MLS Systems increased 0.8% month-over-month in September…
To no one’s surprise, the Bank of Canada announced today that it would leave its overnight rate target at 1/2%, just as it did on January 20 when it last met. The Bank noted that financial market volatility has slowed since the last meeting and oil prices and the Canadian dollar have strengthened. Consumer spending…
January 8, 2016
Category: Articles
U.S. Job Strength Vindicates Fed Rate Hike, But Canada Still Weak
Once again, the Canadian economy showed signs of struggle as the December jobs report showed gains only in Ontario, while jobs were flat or down in every other province. In marked contrast, payrolls in the U.S. rose more than projected as the unemployment rate remained at a low 5%. U.S. strength vindicated the Fed’s recent…
December 4, 2015
Category: Articles
Government Should Not Tamper With Foreign Home Ownership In Canada
The Canada Mortgage and Housing Corporation (CMHC) yesterday released the results of its 2015 Survey of Foreign Ownership of Condos in Canada and the numbers were lower than previous surveys and anecdotal evidence have suggested. While this is the most comprehensive study to date, accurate numbers on foreign ownership are inherently illusive. Many foreign condo…
Finance Minister Bill Morneau said today that Canada’s budget is deeper in the red than we were told in the 2015 budget as the economy’s performance has disappointed. He also revised down the government’s outlook for the economy over the next year. According to the Minister, the federal books are short roughly $3 billion in…
The Fed kept the overnight rate unchanged today, choosing to delay an increase owing to stubbornly low inflation, an uncertain outlook for global growth and recent financial market volatility. It appears that recent losses in China’s equity markets reflect deeper worries over growth prospects for the world’s second largest economy. Slowing growth in China has…