Canada’s hot condo market set to get even hotter

August 31, 2012 under Useful Articles
Sunny Freeman, Canadian Press | Aug 30, 2012 1:00 PM ET TORONTO — A new condo report suggests first-time buyers, retirees and population growth will continue to fuel demand and price growth for the compact living spaces over the next few years. The study by Genworth Canada found that average condo resale prices are expected to rise next year in seven of the eight metropolitan centres studied. Prices in Toron
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City of Vancouver building permit values top $1 billion for first time in five years

August 31, 2012 under Useful Articles
By Gordon Hamilton, Vancouver Sun August 30, 2012 The City of Vancouver issued $1.1 billion in building permits during the first six months of 2012, a 40-per-cent increase over 2011 and the first time in five years that construction has topped the billion-dollar figure for the first half of the year. “This adds to overall economic growth; it means more construction jobs and related spinoff jobs,” said H
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Eurozone unemployment at new high

August 31, 2012 under Useful Articles
31 August 2012 Last updated at 06:00 ET - BBC © 2012 Unemployment across the 17-nation eurozone hit a record 18 million in July, the EU statistics agency says. Some 88,000 more people were added to the jobless total, but upwardly-revised data for June meant the unemployment rate remained at 11.3%. Eurostat said the 18,002,000 jobless total was the highest since records began in 1995. The highest unemployment
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Three reasons the Bank of Canada is about to change from a hawk to a dove

August 31, 2012 under Useful Articles
Pamela Heaven | Aug 29, 2012 1:22 PM ET | Last Updated: Aug 29, 2012 1:26 PM ET The Bank of Canada will tone down the hawkish language in upcoming statements and drop talk of a rate hike all together by the end of the year, Capital Economics says. The bank, which releases a policy statement next week, has held its benchmark rate steady at 1% for nearly two years. Bank of Canada governor Mark Carney’s unexpec
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Canada’s economy stuck in low gear

August 31, 2012 under Useful Articles
Canadian Press | Aug 31, 2012 9:01 AM ET | Last Updated: Aug 31, 2012 10:05 AM ET OTTAWA — The pace of Canada’s economic growth held steady in the second quarter, supported by business investment but kept in check by weaker exports and a softer housing sector. Gross domestic product rose 0.5% between April and June, matching increases in the previous two quarters, Statistics Canada said Friday. On an
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Bernanke says Fed will act as needed, but there are risks

August 31, 2012 under Useful Articles
Pedro da Costa and Alister Bull, Reuters | Aug 31, 2012 10:21 AM ET | Last Updated: Aug 31, 2012 12:11 PM ET JACKSON HOLE, Wyoming – Federal Reserve Chairman Ben Bernanke on Friday said the U.S. economy faced “daunting” challenges and that progress reducing unemployment had been too slow, but he stopped short of providing a clear signal of further monetary policy easing. Bernanke said the central
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RBC, CIBC and TD hike dividends as profits surge

August 30, 2012 under Useful Articles
Doug Alexander and Sean B. Pasternak, Bloomberg News | Aug 30, 2012 8:29 AM ET | Last Updated: Aug 30, 2012 10:44 AM ET Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce raised their dividends after reporting third-quarter profits that beat analysts’ estimates. Royal Bank, the country’s biggest lender, said profit for the period ended July 31 rose 73% to a record $2.24
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Canadian home prices hit new high, but pace slowing

August 30, 2012 under Home Buyer Resources, Useful Articles
Andrea Hopkins, Reuters | Aug 29, 2012 12:10 PM ET TORONTO – Canadian home prices rose in July from June to hit a record high for a third consecutive month, but the slower pace of gains and falling prices in Vancouver added to recent evidence the market is cooling. The Teranet-National Bank Composite House Price Index released on Wednesday showed overall prices climbed 0.7% in July from the previous month. T
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Demographics will take edge off housing downturn: CIBC

August 30, 2012 under Home Buyer Resources, Useful Articles
Canadian Press | Aug 23, 2012 10:00 AM ET | Last Updated: Aug 24, 2012 10:18 AM ET A downturn in the housing market may not be as bad as feared because the important 25-34 age group will continue to buy houses — some with help from their well-off parents, says a senior economist at CIBC World Markets. The analysis takes aim at a theory that population growth won’t be strong enough to sustain demand, p
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Eurozone PMI data ‘points to new recession’

August 30, 2012 under Useful Articles
23 August 2012 Last updated at 10:02 ET - BBC © 2012 The eurozone’s economy is set to contract by 0.5%-0.6% in the July to September quarter, tipping it into its second recession in three years, a closely-watched survey suggests. The Markit Flash Eurozone PMI Composite Output Index, which measures new orders in manufacturing and services, was 46.6 in August, compared with 46.5 in July. A score below 50
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