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Nov 23, 2011 huffingtonpost.ca
If the public reaction to The Huffington Post Canada’s report on income inequality and housing prices is anything to go by, Canadians are growing worried about a housing bubble, and about the influence of foreign investors on major real estate markets.
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Nov 23, 2011 Stefania Moretti money.canoe.ca
Foreign buyers continue to flood Canada's real estate hotbeds, fuelling demand for new projects and pushing up prices for just about everybody.
And while developers, realtors and investors are reaping the benefits, some fear Canada's biggest housing markets could collapse like a house of cards if foreigners were to head for the exits in search of the next best thing.
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Nov 22, 2011 Jesse Kline fullcomment.nationalpost.com
Even as the clouds were gathering over the American economy, most people refused to believe the storm was coming. The few economists who were warning of the economy’s impending downfall were cast aside and laughed at. No one wanted to believe that the real estate market was a house built of cards. We can dig up more gold and build more cars, but God is never going to create more land, or so the theory went. When the market finally exploded in glorious fashion, the bubble that had been building since the mid-’90s was revealed to all.
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Nov 17, 2011 CTVNews.ca Staff
Canada, along with the United States, China and others is heading towards an economic slowdown in the coming months, according to a report from the Organization for Economic Co-operation and Development.
The OECD issued its composite leading indicator (CLI) report Monday, showing that the rate had fallen for the seventh consecutive month in September, hitting 100.4.
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Nov 10, 2011 canadianrealestatemagazine.ca
Canadians are increasingly concerned about the increasing debt of their fellow citizens, according to a new survey.
The Canadian Association of Accredited Mortgage Professionals (CAAMP) produced the findings in its annual State of the Residential Mortgage Market in Canada report after surveying 2,000 online respondents. About half the respondents were homeowners.
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Nov 09, 2011 TREVOR BLAKELY irishtimes.com
CANADA’S experience of a severe downturn in the property market in the late 1990’s should provide some lessons for a recovery in the Irish property market.
Much of Canada’s property story will be familiar to Irish readers. Between 1984 and 1989, average house prices in Canada increased from $94,000 to $261,000, and commercial real estate performed even better.
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Nov 04, 2011 Tavia Grant theglobeandmail.com
The Canadian economy unexpectedly shed 54,000 jobs last month, the most since 2009, a sign faltering business and consumer confidence is slowing the pace of hiring.
All the losses were in full-time positions, Statistics Canada said Friday. The number of full-time workers tumbled by 71,700 in October, with many in manufacturing and construction in central Canada. The country’s jobless rate rose two notches to 7.3 per cent.
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Nov 04, 2011 Michael Conlon ForexNews.com
While all eyes this morning are on the US Non-Farm Payrolls report, quietly north of the border Canada issued a dismal report earlier this morning. The Canadian economy was expected to have added 15K jobs and it lost 54K, pushing the unemployment rate higher to 7.3% from an expected 7.1%.
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Nov 03, 2011 Rebecca Lindell Global News
OTTAWA – Thousands of Canadians could lose their jobs as the economy slows amidst global economic turmoil, according to Canada’s parliamentary budget officer.
“We are talking about 100,000 additional unemployment people on average throughout the year 2012,” said Kevin Page.
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Nov 02, 2011 Jason Fekete And Derek Abma Postmedia News
Canada's parliamentary budget officer is predicting slower economic growth and higher unemployment than the Harper government and says the country's books probably won't be balanced until 2016-17 at the earliest.
The assessment by Parliamentary Budget Officer Kevin Page came the same day Bank of Canada governor Mark Carney and Finance Minister Jim Flaherty appeared separately before a House of Commons committee to discuss their own weaker economic assumptions.
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Nov 1, 2011 Adam Button forexlive.com
I’m not a home owner but the Canadian housing market is out of control. I just read a story about a 3700 sq ft house in vancouver that was listed for $1.9m in April, sold for $2.6m after a 25-person bidding war and is now back on the market at $3.5m. In 1996, the same house sold for $531,000.
Knowing the history in the US, I should just lever up buy way more than I can afford and wait for the government bailout.
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August 28, 2011 Derrick Penner, Vancouver Sun
VANCOUVER - Slower job growth in British Columbia's economy will mean slower increases in home sales and property values through to 2012, the B.C. Real Estate Association said Thursday.
And by the end of 2012, the association expects the high-flying prices in some of B.C.'s bigger markets to show small declines.
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Oct 26, 2011 Ben Rabidoux theeconomicanalyst.com
Canadian inflation heats up:
Stats Canada has released the September reading of the consumer price index (CPI), which showed a strong bounce in both the core and all-item index. The all-item index rose to 3.2% on a year-over-year basis while the core has finally breached the target 2% boundary for the first time since 2009:
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October 24, 2011 Harvey Enchin Vancouver Sun
In a report earlier this year, Royal Bank of Canada chief economist Craig Wright suggested home ownership for a growing number of Canadians has become an impossible dream. That’s certainly true in Vancouver, where the affordability index is at record highs, with the average home price at nearly 10 times the median income.
But perhaps ownership has been oversold as an aspirational goal. As thousands of Americans have discovered, sometimes the dream becomes a nightmare.
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Oct 24, 2011 Tim Iacono nuwireinvestor.com
While other once robust housing markets like China and Australia begin to show signs of weakness and the U.S. continues to struggle, Canada continues to enjoy spectacular growth. Tim Iacono points out that prices and sales volume are up across the country, with the north’s largest cities competing for the biggest numbers. Iacono wonders, though, when the bubble will burst and whether the Canadian housing market will experience the fall from grace seen in so many other countries, including the U.S. For more on this continue reading the following article from Tim Iacono.
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Heather Scoffield, The Canadian Press
OTTAWA - A generation of solid economic growth has meant little in the everyday lives of most Canadians, according to a new index of wellbeing.
The finding is a yellow light for decision-makers that social unrest is just around the corner unless deep changes are made, warns Roy Romanow, the advisory board chairman of the University of Waterloo group that created the index.
The index suggests the middle class, in particular, is eroding.
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Oct 20, 2010 The Canadian Press
Canadian firms have grown pessimistic about their sales prospects for the upcoming year and plan to pare down on both investment and hiring intentions, says a Bank of Canada survey.
The central bank's quarterly business outlook survey released Monday found businesses generally gloomier on a range of measures, although the balance of opinion remains positive.
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October 17, 2011 ROB CARRICK theglobeandmail.com
Baby boomers, the housing market is in your hands.
Out of a population of 34.6 million, Canada has roughly 10 million people who were born between 1946 and 1965. This massive boomer cohort started turning 65 this year. All those empty nesters will soon have a decision to make. Should they sell now to downsize their family home, or stay on to welcome grandchildren?
This could be one of the most important questions that baby boomers deal with as they enter retirement, and the financial impact will be widely felt. Expect a slowing in today’s hyperactive housing market, but not right away.
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