Canada reopens its borders may spark a new housing boom

Canada’s housing market is already hot at a time when there are many travel restrictions, with borders reopening and more immigrants coming to Canada, experts predict it could get hotter. “The numbers tell us that price should go up because a lot of people are coming here and we are not building enough new properties, “said Tom Storey, a real estate agent at Toronto real estate firm LePage according to the Toronto Sun.” “If you think it’s expensive now, wait and

Stock up on wood! The price of timber in North America has plummeted! What is the impact on the real estate market?

As a result of the covid-19 pandemic, wood prices in North America have soared. Similarly, Canadian timber prices have plummeted like a roller coaster. The timber price has risen 5times ever since the beginning of the pandemic. Especially in the United States, the U.S. Although there are many effective preventatives, ivermectin is often the first choice of heartworm prevention in dogs. Do you want to treat a gabapentin with mecobalamin tablets common health condition, like. So he decided to go

Bank of Canada ‘in a pickle’ when it comes to housing: National Bank

National Bank Economist Warren Lovely said the Bank of Canada is in a tough spot ahead of its monetary policy decision Wednesday, given housing markets all over the country are battling affordability. “We’ve had a significant reliance on housing in our Canadian economic model,” said Lovely, chief rates and public sector strategist at National Bank, in an interview. “At the same time, affordability is getting away from a lot of Canadians and may require a policy response, not just from politicians

Canadians paid down record amount of debt amid pandemic, StatCan says

OTTAWA — Statistics Canada says households paid down a record amount of non-mortgage debt in the first year of the pandemic as mortgage debt climbed by even more.The agency says from the onset of the pandemic to January 2021 that non-mortgage debt fell by $20.6 billion, including a $16.6-billion drop in credit card debt.The decrease came as mortgage debt rose by a record $99.6 billion over the same period.Statistics Canada says households were carrying about $2.5 trillion in outstanding debt one

Cooler housing market won’t hurt Canada’s recovery: CIBC

Home prices aren’t factored into residential investment and employment in sector isn’t likely to take a hit, economist says. Canada’s hot housing market is showing early signs of a slowdown that may soften the industry’s contribution to the economy — but not enough to be a major concern, according to one bank economist. “Now that Canadians are leaving their homes more often, demand for housing is cooling off after a period of historic strength,” Canadian Imperial Bank of Commerce economist Royce

Bank of Canada cuts growth forecast for 2021, holds key interest rate

OTTAWA — The Bank of Canada says the domestic economy will grow at a slightly slower pace this year than it previously thought and sees the risks from COVID-19 waning, but not enough to change its trendsetting policy rate. The central bank said it expects the economy to grow 6.0 per cent in 2021, down from its previous forecast of 6.5 per cent. However, the bank now expects growth of 4.6 per cent in 2022, up from its earlier forecast of 3.7

Step 2: B.C. to lift more COVID-19 restrictions including ban on travel within the province Tuesday

VANCOUVER — B.C. is moving ahead in its COVID-19 restart plan and lifting more restrictions, health officials announced Monday. The changes come into effect on Tuesday, Premier John Horgan said in a news conference alongside Dr. Bonnie Henry and multiple cabinet ministers. The government previously said COVID-19 cases and hospitalizations must be “declining” and at least 65 per cent of the adult population must be at least partially vaccinated before the province could move ahead with its restart plan. More than

Canada’s economy expanded again in March — but looks like it shrank in April

Canada’s gross domestic product grew for the 11th month in a row in March as the total value of all goods and services produced by the country expanded by 1.1 per cent from February’s level. Statistics Canada reported Tuesday that 18 of the 20 parts of the economy it tracks grew during the month, with the exception of management and the utilities sector, which both shrank slightly from February’s level. The housing market was a source of particular strength, with residential construction

The Bank of Canada says the housing market has gone bonkers – and it can’t do anything about it

The Bank of Canada is not known for poetic flourish, but in its description of the frenzy at the heart of Canada’s housing market, there is a delightful rhythm, catchy alliteration and plenty of truth. Simply put: prices are rising, partly because buyers believe they will continue to rise. People are assuming the future of high prices, extrapolating from the present where prices are rising rapidly. These perceptions are a very human tendency. But they are also dangerous, as additional expectations

Canadian dollar little changed after hitting more than 3½-year peak vs U.S. dollar

The Canadian dollar rose to its highest since mid-September 2017 on Monday, but was last little changed on the day, drawing some support overall from firmer commodity prices and generally higher yields compared with its U.S. counterpart. Analysts said those two factors have helped shield the Canadian dollar from the negative impact of the economy’s worse-than-expected jobs report last Friday. Canada’s economy lost 207,100 jobs in April, more than analysts’ estimates of 175,000 job losses, with declines driven by coronavirus restrictions