Cost of housing pushing millennials to the suburbs

TD survey says young Canadians would prefer to live in urban neighbourhoods

Cost of housing pushing millennials to the suburbsA new survey says 81 per cent of Canadian millennials want to own a home but financial realities such as rising prices mean they have to look at the suburbs for affordability. The survey, released on Wednesday by TD, said 33 per cent of millennials say that city living is their preference but 64 per…

Canadian trade deficit narrows slightly

Economists call the latest StatsCan numbers disappointing

Canadian trade deficit narrows slightlyCanada’s merchandise trade deficit with the world has narrowed slightly going from $3.1 billion in January to $2.9 billion in February, according to Statistics Canada. The federal agency reported on Wednesday that following two consecutive monthly increases, total imports declined 1.6 per cent to $50.9 billion in February. Imports were down in eight of 11…

Mortgage stress test takes a bite out of new mortgages

Accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline

Mortgage stress test takes a bite out of new mortgagesThe mortgage stress test, B-20, accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline in mortgage originations (the process by which a borrower applies for a new loan, and a lender processes that application) throughout 2018, according to a new report released Tuesday by CIBC Economics. The…

House prices falling across Canada

Calgary and Edmonton hit hard, according to report from real estate association

House prices falling across CanadaHouse prices are falling across the country, with significant declines in March in the Calgary and Edmonton regions. According to its regular monthly report, the Canadian Real Estate Association said the aggregate MLS benchmark price across Canada of $617,200 was down by 0.47 per cent year over year during the month. The report said the…

Postmedia net loss hits $5.1 million in second quarter

Company says it continues to work on cost reduction initiatives

Postmedia net loss hits $5.1 million in second quarterCanadian newspaper giant Postmedia reported Thursday a net loss of $5.1 million in its second quarter, which ended on Feb. 28. The company owns newspapers across the country, including the Sun Media chain. It said the result compares to a $1.3 million loss in the same period a year ago. “Revenue for the quarter was…

Shaw Communications reports $155M net income in Q2

Shaw Communications reports $155M net income in Q2Calgary-based Shaw Communications reported Tuesday net income of $155 million for its second quarter of operations in its fiscal year 2019 compared with a net loss of $175 million a year ago. The company’s quarter ended February 28, 2019. It said consolidated revenue decreased by one per cent to $1.32 billion compared to the second…

12,500 jobs at risk in Canada’s oilpatch in 2019

Alberta will be hit the hardest, with 9,600 more jobs expected to disappear

12,500 jobs at risk in Canada’s oilpatch in 2019Some sobering news out on Monday about jobs in the struggling oilpatch. The 2019 Labour Market Update by the PetroLMI division of Energy Safety Canada indicates about 12,500 jobs are at risk this year due to several factors including low commodity prices, a decline in capital spending and continued uncertainty over market access. And Alberta,…

Non-traditional home buying approaches on the rise

More solo Canadians are buying property; down payments are trending up: RBC

Non-traditional home buying approaches on the riseMore Canadians are taking a non-traditional approach to buying a home and many say being house poor may be the reality of home ownership, says the annual RBC Home Ownership Poll, which was released on Monday. “We're seeing a fundamental contrast in who's at the buying table,” said Nicole Wells, vice-president of home equity financing…

Oil production slips from December to January after mandatory cuts

January was the first month of temporary mandatory production cuts in Alberta: StatsCan

Oil production slips from December to January after mandatory cutsCrude oil and natural gas production and electricity generation rose in January, while coal production declined compared with the same month in 2018, says Statistics Canada. The federal agency reported on Friday that Canada produced 22.3 million cubic metres (140.3 million barrels) of crude oil and equivalent products in January, up 3.1 per cent from…

Charity increasing amount of loans available for skilled immigrants

Windmill Microlending increasing the amount of funds available by 50 per cent

Charity increasing amount of loans available for skilled immigrantsWindmill Microlending, Canada’s largest and most successful microlending charity for skilled immigrants and refugees, is increasing the amount of funds available to skilled immigrants and refugees by 50 per cent. It is now offering low-interest loans of up to $15,000 to help skilled immigrants and refugees obtain the credentials they need to continue their careers…

Canadian senior families’ debt rising: StatsCan

Strong housing market responsible for both higher mortgage debt and an increase in the value of homes

Canadian senior families’ debt rising: StatsCanThe proportion of senior families carrying debt in Canada rose from 27 per cent in 1999 to 42 per cent in 2016, according to a report released on Wednesday by Statistics Canada. However, the federal agency also said the median net worth of senior families with debt – which corresponds to the total value of…

Albertans over contribute to Canada Pension Plan

Alberta paid $27.9 billion more into the Canada Pension Plan than what they received in CPP payments over the past 10 years.

Albertans over contribute to Canada Pension PlanA report from the Fraser Institute says Alberta workers paid $27.9 billion into the Canada Pension Plan over and above what retirees in the province received in CPP payments over the past 10-year period. The report - Albertans Make Disproportionate Contributions to National Programs: The Canada Pension Plan as a Case Study - released Wednesday…

BDC Capital investing in change-of-ownership transactions

BDC Capital has invested over $180 million in change-of-ownership transactions since December 2017

BDC Capital investing in change-of-ownership transactionsBDC Capital, the investment arm of BDC (Business Development Bank of Canada), has invested over $180 million in change-of-ownership transactions since December 2017 and is on track with its pledge to invest $900 million in such deals over five years. "Investing in business transitions is one of our core offerings," said Patrick Latour, Senior Vice…

Natural resources GDP declines in fourth quarter of 2018

Energy prices recorded their largest decline since the first quarter of 2016, following four consecutive quarterly increases

Natural resources GDP declines in fourth quarter of 2018Real gross domestic product of the natural resources sector decreased by 0.4 per cent in the fourth quarter, following a 0.8 per cent increase in the third quarter, according to a report released on Tuesday by Statistics Canada. The federal agency said real GDP in the energy subsector declined 0.3 per cent in the fourth…
1 2 3 16