TORONTO, Jan 15 (Reuters) – With more Canadians saying they
can’t afford to invest, the country’s big banks are struggling
to persuade people that socking away a little money now is the
only path to a secure retirement.
While Canadians once outpaced their U.S. counterparts in
terms of savings, the nation’s luck in avoiding the worst of the
recession and financial crisis meant few learned the painful
lesson of too much debt, and fewer than ever feel able to save
TORONTO, Jan 15 (Reuters) – Sales of existing homes in
Canada fell in December from November and year-over year sales
tumbled, the Canadian Real Estate Association said on Tuesday,
further evidence Canada’s once-hot housing market has slumped.
CREA, the industry group for Canadian real estate agents,
said in a report that sales activity was down 0.5 percent in
December from November, the third consecutive monthly decline.
TORONTO, Jan 10 (Reuters) – Som Seif, founder and former
president of Claymore Investments Inc, has launched a Canadian
asset management firm aimed at low-fee investments for
institutional and retail investors, unveiling its first fund on
The new firm, Toronto-based Purpose Investments, promises to
use rules-based investment management to keep fees low and risk
in check, a semi-passive management structure that hopes to
appeal to investors who like the low fees of the exchange traded
funds (ETFs) that made Claymore such a success.
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.