Canada’s housing starts slowdown to 220,000 this year, down 3.2 percent from last year, says the Canadian Mortgage and Housing Corporation (CMHC). This slowdown is partly due to higher prices, and rising mortgage costs. The agency also made a forecast of a drop to 207,200 next year as well. “Despite high employment levels, income gains [...]

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The Bank of Canada intervened a bit more than usual today in an attempt to help investors suffering from the high turbulence in both Canadian and American stock markets. Canada’s central bank took the rare step of publicly reassuring investors that it will help provide stability to financial markets and the domestic financial system – [...]

Continue reading " Bank of Canada calms markets, boosts liquidity "

The U.S. housing sector slumps, fewer job growth, stagnant wages, negative savings, high debt, high interest rates, high energy prices — relax, don’t run for the exits just yet. All this only leads to a possibility of an economic recession, as you have probably already heard from your respective media sources. The problem is a [...]

Continue reading " Market Recession still avoidable "

I am guessing you are looking forward for an answer in this post. I’m sorry, but you won’t find one. Unfortunately, I myself am looking for an answer… I am frustrated at the fact that we are currently paying too much for imported goods. The recent surge of the Canadian dollar should reflect on the [...]

Continue reading " Why the strong Canadian Dollar is not helping lower prices "

I always though parking in Toronto was too costly – of which I was right. But I just found out it isn’t nearly as bad as Calgary – Canada’s most costly parking city. Canada’s parking market is on fire. A new study by real estate services company Colliers International says daily rates rost 7.4% across [...]

Continue reading " Top 5 Cities – Parking Costs "

A temporary retail tax exemption begins today for Ontario residents who purchase certain Energy Star household products (refrigerators, dishwashers, washing machines, freezers, etc.). The Ontario provincial sales tax will be waived on products purchased, rented, or leased before July 20, 2008. This one-year tax break is expected to save us, consumers, a total of $51-milion [...]

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The People’s Bank of China, China’s central bank, raised interest rates once again today in their continous attempt to keep inflation under control, and prevent one of the largest economies in the world from busting. The Chinese government yesterday reported annual growth at 11.9 percent in the second quarter. The hike was much anticipated by [...]

Continue reading " China’s economic growth unsustainable "

The country’s largest city, Toronto, has always been known as the economic capital of the country. Today this view is arguably incorrect. The city has been shedding jobs in the manufacturing sector for the past five years. The average unemployment rate for this period has been 8.1 percent. For the first time in history, the [...]

Continue reading " Toronto threatened with two new taxes "

The Canadian loonie surged to a 30-year high today as the price of crude oil traded at an 11-month high. The dollar hit 96 cents versus the US Dollar.

Continue reading " Canadian dollar rises with oil price "