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Dec 10, 2012

Canada housing starts slow in November

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.

Nov 29, 2012

Canadian stock investors seek growth in U.S. consumer comeback

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.

Nov 28, 2012

Fed’s Evans wants more easing, Fisher wants limits

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
advocating limits.

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.

Nov 28, 2012

Evans: Fed should keep rates low until unemployment hits 6.5 percent

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.

Nov 26, 2012

Toronto Trump condo delays sale closing date amid buyer lawsuits

TORONTO, Nov 26 (Reuters) – Developers of the Trump
International Hotel in Toronto have pushed back the closing date
for the sale of luxury condo units at the project, the latest
delay in a venture plagued by bad press and lawsuits by and
against disgruntled investors.

Talon International Inc, which developed the 65-story
granite and glass hotel-condominium tower that opened this year
in Toronto’s business district, said it was pushing back the
closing date by two weeks to Dec. 13 to respond to an
investigation by the Ontario Securities Commission.

Nov 22, 2012

Canada’s housing affordability rises in 3rd quarter

TORONTO, Nov 22 (Reuters) – Falling home prices and an
uptick in household income made Canadian home ownership slightly
more affordable in the third quarter, but the longer-term trend
is largely unchanged, according to a report by RBC Economics
released on Thursday.

RBC, Canada’s largest bank and a huge mortgage lender,
measured affordability as the percentage of monthly pre-tax
income for a household needed to cover the typical costs of
owning a home, including mortgage payments, utilities and
property taxes.

Nov 21, 2012

Canadian house prices fall 0.2 pct in Oct. from Sept.

TORONTO, Nov 21 (Reuters) – Canadian home prices dipped in
October from September and year-over-year price gains slowed for
the 11th straight month in yet another sign Canada’s hot housing
market has cooled, 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 0.2 percent in
October from a month earlier, only the third October drop in 13
years of data.

Nov 15, 2012

Canada wealth managers struggle to entice Gen Y advisers

TORONTO, Nov 9 (Reuters) – Tammy Oribine was a financial
planner for just a couple of months when she realized it was not
the job for her. She did not like sales, did not feel confident
enough about the products and hated the face-to-face contact
that is a staple of the business.

“A lot of it has to do with personality — I don’t find I’m
the most personable person, and I’m bad at small talk,” Oribine,
29, said with a laugh.

Nov 15, 2012

Canadian October home sales dip, latest sign of cooling

TORONTO, Nov 15 (Reuters) – Sales of existing homes in
Canada fell in October from September and year-over-year sales
were down as well, the Canadian Real Estate Association said on
Thursday in the latest signal that the housing market is
slowing.

The industry group for Canadian real estate agents said
sales were down 0.1 percent in October from September. Actual
sales for October, not seasonally adjusted, were down 0.8
percent from a year earlier.

Nov 14, 2012

Canada housing market to moderate, not crash, in 2013 -RE/MAX

TORONTO, Nov 14 (Reuters) – Canada’s housing market is
leveling off but economic strength, immigration and low interest
rates will prevent a steep correction and keep prices and sales
mostly flat in 2012 and 2013, real estate agency RE/MAX said on
Wednesday.

In its 2013 outlook, based on a survey of trends in 26
markets, RE/MAX said it expects national sales to fall 1 percent
in 2012 and then hold steady in 2013, while prices will be flat
in 2012 and edge 1 percent higher in 2013.