CANADIAN PER-CAPITA GDP FALLS FOR A 6TH QUARTER, SUPERSIZED CUT EXPECTED: RBC
Canada’s largest bank believes weak economic output will justify big rate cuts in a few days. A new RBC report notes that gross domestic product (GDP) climbed in Q3 2024, but the slower-than-expected growth was driven entirely by government spending. More concerning to their team was the 6th consecutive per-capita decline, with the first Q4 data points indicating a 7th may be on the way. Consequently, RBC has forecast a supersized rate cut at this month’s central bank rate decision, despite...
read moreJOBLESS RATE REACHES 6.8% IN NOVEMBER, HIGHEST SINCE 2017 OUTSIDE OF PANDEMIC
Canada’s unemployment rate jumped to 6.8 per cent last month as more people looked for work in a weak job market, shifting expectations toward a jumbo interest rate cut next week. Statistics Canada’s November labour force survey says the jobless rate last month reached the highest since January 2017, outside of the COVID-19 pandemic. The unemployment rate was 6.5 per cent in October. Meanwhile, the economy added 51,000 jobs in November, with employment gains concentrated in full-time work and...
read moreTRUDEAU’S IMMIGRATION PLAN HINGES ON MILLIONS OF PEOPLE LEAVING
Prime Minister Justin Trudeau’s plan to fix immigration in Canada depends on the biggest exodus of people since at least the 1940s — one that many economists doubt is feasible. Slamming the brakes on record-setting population growth requires 2.4 million non-permanent residents to leave or change status over the next two years, according to the government’s forecasts, which also see 1.5 million new temporary arrivals during that time. That projected net loss of about 900,000 international...
read moreWEEK OF DECEMBER 2 2024 NEWSREEL WITH VANESSA TOPPLE
A headline from the Financial Post read, “Why it’s time for a serious debate about rent control in Canada..” The article was riddled with misleading statements so we give you the facts....
read moreTENANTS QUESTION IF ONTARIO’S LANDLORD AND TENANT BOARD TIMELINES ARE IMPROVING
Ontario’s Landlord and Tenant Board (LTB) is scheduling hearings faster this year than it did last year, according to estimates shared with CBC Toronto this week. Currently, the LTB estimates that the average application for non-payment of rent is scheduled for a hearing in roughly three months — down from an estimated 10 months in 2023. All other application types take an estimated five to seven months. CBC spoke to members of landlord associations and rental experts who confirmed the...
read moreALBERTA’S REAL ESTATE RESURGENCE: WHY NOW IS THE PERFECT TIME TO INVEST IN CALGARY AND EDMONTON
As Alberta’s economy roars back to life, its real estate market is catching the attention of investors and homebuyers alike. Calgary and Edmonton are experiencing renewed growth, driven by affordability, job creation, and expanding infrastructure. Compared to high-cost markets like Vancouver and Toronto, Alberta stands out as a haven for those seeking strong returns and liveable prices. For seasoned investors and first-time buyers alike, Alberta’s real estate market offers a compelling mix of...
read moreIT’S’NAIVE’ TO BLAST THE BIG INSTITUTIONS THAT PROVIDE RENTAL HOUSING, SAY DEVELOPERS
In the House of Commons last year, Vancouver East NDP MP Jenny Kwan lambasted the powerful “profiteers” that “financialize” rental housing. The Liberals, and the Conservatives before them, have long encouraged the creation of real estate investment trusts, commonly known as REITs, through which corporations “make a killing,” Kwan said. “Real estate investment trusts enjoy preferential tax treatment, and the seven largest REITs alone have saved a combined $1.5 billion through federal tax...
read moreCONSERVATIVE PARTY WINS SECOND STRAIGHT MAJORITY IN NOVA SCOTIA ELECTION
Nova Scotians have reelected the Progressive Conservative Party with a large majority in a victory for a political platform that includes trying to make home buying easier for some residents. As the final counting of votes occurred Wednesday, members of Premier Tim Houston’s PC Party won outright or were leading in 43 electoral districts. The NDP captured nine seats and the Liberal Party only two. An independent candidate is poised to hold one of the 55 seats in the Nova Scotia...
read moreWEEK OF NOVEMBER 25 2024 NEWSREEL WITH VANESSA TOPPLE
November 22nd was National Housing Day so it seemed fitting to look back and forward to see where we stand....
read moreWHAT IS YIELDSTAR, THE CONTROVERSIAL PRICING SOFTWARE SOME BLAME FOR RISING RENTS
Canadian officials are concerned about YieldStar, a controversial software that recommends rent prices to landlords that is currently the subject of a government lawsuit in the United States. In October, Canadian federal Minister of Innovation, Science and Industry François-Philippe Champagne said the government would launch an investigation into the allegations around price-fixing in the rental market, writing a letter to Competition Bureau commissioner Matthew Boswell. Champagne’s letter...
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