TORONTO, April 14 (Reuters) – Canadian resale home prices
were flat in March from February and 12-month home price
inflation slowed slightly, the Teranet-National Bank Composite
House Price Index showed on Monday.
While national prices were essentially unchanged last month
from February, the index, which measures price changes for
repeat sales of single-family homes, showed regional
disparities, as Calgary roared ahead but Montreal faltered. The
Teranet report does not provide actual prices.
TORONTO, April 8 (Reuters) – Canadian housing starts fell
more than expected in March and building permits dropped sharply
in February, according to data released on Tuesday that suggests
the country’s robust housing market is cooling.
Volatility in the housing data and an especially hard winter
may explain some of the unexpected weakness in the data,
economists said. But the figures still bolstered expectations
that home building was starting to slow after a boom that
observers have warned is unsustainable.
TORONTO (Reuters) – The looming shift of money to and from the baby boomers promises to be the greatest intergenerational wealth transfer in history, and Canadian financial advisers are looking to investment and insurance strategies to help clients hold onto their money.
A Decima Research study found Canadian baby boomers are expected to inherit C$1 trillion ($906 billion) from their frugal Depression-era parents in the next 12 years, just as their own cash-strapped offspring look to them for help to get a start in life.
TORONTO, April 1 (Reuters) – The Ontario Teachers’ Pension
Plan, one of Canada’s biggest investors, said Tuesday it had a
10.9 percent rate of return on its investments in 2013, bringing
net assets to a record C$140.8 billion ($127.6 billion).
The strong 2013 returns erased Teachers’ funding shortfall.
Preliminary results showed a C$5.1 billion surplus, the plan’s
first in 10 years. The fund’s rate of return since inception in
1990 has been 10.2 percent.
TORONTO, March 31 (Reuters) – An aging workforce and looming
regulatory change are driving stiff competition between Canada’s
top wealth managers to recruit new advisers, a costly and
arduous process that makes finding the right fit crucial for
With the average age of advisers at full-service investment
companies nearing 50 and compliance demands rising, top-tier
firms say the next few years may bring the stiffest competition
yet as advisers and employers jockey to find a permanent match.
TORONTO (Reuters) – Alternative asset manager Sprott Inc (SII.TO: Quote, Profile, Research, Stock Buzz) said on Thursday its earnings hit bottom in the final quarter of 2013 as resource markets swooned, and it expects to do better in 2014 as it considers what to do with ample cash.
Toronto-based Sprott has long been bullish on precious metals and profited handsomely when their prices soared after the financial crisis.
TORONTO, March 17 (Reuters) – Sales of existing homes in
Canada edged higher in February from January, the first monthly
increase after five straight declines, the Canadian Real Estate
Association said on Monday, but it trimmed its sales forecast
for this year.
The industry group for Canadian real estate agents said home
resales were up 0.3 percent last month from January, seasonally
adjusted. On a year-on-year basis, sales rose 1.9 percent from
February 2013, not seasonally adjusted.
TORONTO (Reuters) – Toronto-Dominion Bank hopes to expand its U.S. wealth management business, targeting a million people with at least $100,000 in liquid assets who already are customers of its growing U.S. retail bank, said a senior executive of Canada’s second-largest lender.
Banks globally are battling to win both high-net worth clients, typically defined as those with at least $1 million in investable assets. Investors with at least $100,000 in assets are referred to as the “mass affluent.”
TORONTO, March 12 (Reuters) – Canadian home prices rose in
February, pushing a national index of prices to a record high
for the second month in a row, the Teranet-National Bank
Composite House Price Index showed on Wednesday.
The index, which measures price changes for repeat sales of
single-family homes, showed national prices rose 0.3 percent
last month from January.
TORONTO/WINNIPEG, Manitoba (Reuters) – The small gilded chapel at the Ukrainian Canadian Care Center, a retirement residence in suburban Toronto, is usually shuttered and dark midweek. But on Thursday, dozens of elderly immigrants and their caregivers gathered to pray for protesters and family back in Kiev.
At a mid-morning service, a priest from Toronto’s Ukrainian Orthodox Cathedral, Jaroslaw Buciora, told people the best thing they could do is pray for those back home. He and many others in the Ukrainian-Canadian community, which is estimated to number 1.2 million, are doing more than that, however – everything from sewing ribbons to sending cash in support of the Kiev demonstrators.