TORONTO, Jan 10 (Reuters) – A long bull run in Canadian
house prices and painful memories of the 2009 financial crisis
have convinced many Canadians that their retirement dreams are
best left at their own doorsteps – a strategy that many
financial planners consider risky.
Indeed, more Canadians than ever are relying on appreciation
in the value of their homes to pay the bills in their golden
years. It’s a trend that worries advisers, especially as savings
rates decline and more people say they are comfortable carrying
debt into retirement.
TORONTO, Jan 9 (Reuters) – Canadian housing starts slowed in
December, but not as sharply as expected, as rural starts
declined but urban starts held steady, Canada Mortgage and
Housing Corp said on Wednesday in a report that confirmed a
housing market slowdown is underway.
The seasonally adjusted annual rate of housing starts was
197,976 units in December, down slightly from 201,376 in
November but above an average forecast of 195,000 among analysts
polled by Reuters.
TORONTO, Jan 8 (Reuters) – Canada’s housing market is
expected to see a continued slowdown in sales in the first half
of 2013, but the correction will be mild and brief, with prices
still inching higher by the end of the year, one of Canada’s
largest realty companies said on Tuesday.
Dismissing fears of a sharp collapse in Canada’s long-hot
housing sector, Royal LePage Real Estate said resource-rich
cities in Alberta and Saskatchewan will have strong growth in
sales and prices, dampening the impact of an expected slowdown
in previously booming cities like Toronto and Vancouver.
TORONTO, Dec 20 (Reuters) – For many Canadian business
owners, it may take the sudden death of a colleague or a
debilitating illness before they realize they don’t have a
succession plan and need one badly.
Baby boomers own the bulk of small and medium-sized
businesses in Canada, and many have neglected to make formal
plans for passing on their businesses – either to relatives or
through a sale. That has left a void that Canada’s banks are
vying to fill.
TORONTO, Dec 19 (Reuters) – Canadian home prices dipped in
November from October while year-over-year price gains slowed
for the 12th straight month as Canada’s housing market continued
to cool, 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 overall prices fell 0.4 percent in
November from a month earlier, the third consecutive monthly
TORONTO, Dec 17 (Reuters) – Sales of existing homes in
Canada fell in November from October and year-over-year sales
were down as well, the Canadian Real Estate Association said on
Monday in a report that gave further evidence of a slowdown in
Canada’s housing market.
The industry group for Canadian real estate agents said
sales activity was down a seasonally adjusted 1.7 percent in
November from October. Actual sales for November, not seasonally
adjusted, were down 11.9 percent from a year earlier.
TORONTO, Dec 10 (Reuters) – Canadian housing starts fell in
November for both single- and multifamily homes, particularly in
Ontario and British Columbia, Canada Mortgage and Housing Corp
said on Monday in a report that adds to evidence of a slowdown.
The seasonally adjusted annualized rate of housing starts
was 196,125 units in November, down from 203,487 in October and
well below the high above 250,000 hit early in the year.
TORONTO, Nov 29 (Reuters) – While fear of the U.S. fiscal
cliff promises to hold financial markets hostage at least to
year-end, a surge in Black Friday shopping and a recovery in the
U.S. housing market has Canadian investors looking to a few
consumer-fed stocks for potential growth.
The retreat of the U.S. consumer during the Great Recession
left shares of retailers, luxury goods producers, auto and
appliance makers, home builders and others reeling on both sides
of the border. But signs of improving confidence among shoppers
could encourage a play on consumer spending, and Canadian
strategists see an array of opportunities.
TORONTO/BERLIN Nov 27 (Reuters) – Deep divisions at the
Federal Reserve were on display on Tuesday, just two weeks
before the U.S. central bank’s next policy-setting meeting, with
one top Fed official pushing for more easing, and another
The divide underscores the hurdles Fed Chairman Ben Bernanke
faces as he tries to win consensus among his fellow policymakers
on the central bank’s sometimes controversial efforts to bring
down the nation’s lofty unemployment rate, which registered 7.9
percent last month.
TORONTO (Reuters) – One of the U.S. central bank’s most outspoken policy doves on Tuesday called for the Federal Reserve to unleash even more monetary stimulus, saying interest rates should stay near zero until the jobless rate falls to at least 6.5 percent.
Such a policy would carry “only minimal inflation risks,” Charles Evans, president of the Chicago Federal Reserve Bank, said in remarks prepared for delivery to the C.D. Howe Institute in Toronto.