TORONTO, Feb 6 (Reuters) – Canada’s federal housing agency
nudged up its forecast for housing starts and prices in 2014 and
said sales and construction will be steady to higher in 2015 as
an improving economy tempers the impact of rising mortgage
The view from the Canada Mortgage and Housing Corp suggests
the nation’s once-roaring housing market is settling into a soft
landing, with construction moderating to more sustainable levels
and sales and prices ticking slowly higher.
TORONTO, Feb 5 (Reuters) – Canada Pension Plan Investment
Board said on Wednesday it will open an office in Sao Paulo in
April, intent on boosting real estate and infrastructure
investments in the region even as money is flowing out of
CPPIB, a global dealmaker intent on diversifying its C$192.8
billion ($174 billion) portfolio, said the timing for opening
its fifth global office is perfect, though it noted competitors
like sovereign wealth funds are also hunting similar assets.
TORONTO, Feb 3 (Reuters) – Laura Parsons helped her son buy
his first home four years ago, and she’s ready to help her
daughter do the same, making her part of what many say is a
growing trend across Canada, where home prices have soared 84
percent in 10 years.
“I am going to give her the downpayment,” said Parsons, 54,
a mortgage banker in Calgary, Alberta, where an oil industry
boom has pushed home prices to record highs. “We’re the baby
boom generation, we have more money than we ever thought we
would, we have two incomes, we’re saving, so I’m going to help.”
TORONTO (Reuters) – AGF Management Ltd (AGFb.TO: Quote, Profile, Research, Stock Buzz) reported a smaller-than-expected fourth-quarter profit on Wednesday as the redemption of a single legacy account helped trim assets under management by 12.1 percent, even as global stock markets gained.
The Canadian fund manager, one of the nation’s largest independents, said net income from continuing operations was C$7.1 million ($6.4 million), or 8 Canadian cents per share, in the fourth quarter ended November 30, compared with C$13.0 million, or 14 Canadian cents per share, a year earlier.
TORONTO, Jan 15 (Reuters) – Sales of existing homes in
Canada dropped sharply in December from November, the Canadian
Real Estate Association said on Wednesday, adding to a string of
data showing Canada’s housing market was cooling as 2013 drew to
The industry group for Canadian real estate agents said
sales activity was down 1.8 percent last month from November.
Actual sales for December, not seasonally adjusted, were up 12.9
percent from December 2012, which was a particularly weak month.
TORONTO, Jan 14 (Reuters) – Canadian home resale prices
edged up in December and returned the Teranet-National Bank
Composite House Price Index to a record high after a decline the
The index, which measures price changes for repeat sales of
single-family homes, showed on Tuesday that national prices rose
0.1 percent last month from November. In November, they fell 0.1
percent from October.
TORONTO, Jan 9 (Reuters) – Canada’s once-hot housing market
showed signs of cooling as 2013 drew to a close, with building
permits and housing starts falling and prices leveling off in
the final months of the year after a strong summer and fall.
Three separate reports released on Thursday showed the same
cooling trend, with weaker-than-expected readings for November’s
new housing price index and building permits, and December’s
TORONTO (Reuters) – Toronto Mayor Rob Ford, who won global ridicule last year after admitting to having used crack cocaine, registered on Thursday for the October mayoral election, saying he was the best mayor Canada’s largest city has ever had and would be re-elected.
Ford, who last year admitted that he smoked crack while in a “drunken stupor,” purchased illegal drugs while in office and drove after drinking, said his slogan will be “Ford more years.”
TORONTO, Dec 20 (Reuters) – It’s been years since fixed
income offered investors the “safe and stable” side of a
portfolio, but Canadian asset managers believe the waves created
by the Federal Reserve’s tapering may make investing in bonds an
especially bumpy ride in 2014.
The year ahead has been billed as one in which interest
rates start creeping back to historical norms and the 30-year
bond bull market comes to an end. But with economic growth still
sub-par, Canadian money managers say there is money to be made
in fixed income if investors pick the right spots.
TORONTO, Dec 18 (Reuters) – Canada’s investment industry is
gearing up for a final battle to kill a proposed regulation that
would formally require advisers to act in the best interest of
clients, a change that could eat into the profit of wealth
According to polls, most Canadian investors do not realize
that advisers have no “fiduciary duty” to their clients. Instead
of looking after the best interests of the investors they serve,
advisers currently need only meet a “suitability standard,”
providing advice or selling products that conform with the