Andrea's Feed
Jul 30, 2012

Canada banks seen by S&P as vulnerable if housing stumbles

July 30 (Reuters) – Debt-ridden Canadian consumers and a
cooling property market are leaving the country’s stalwart banks
vulnerable, credit rating agency Standard & Poor’s has warned,
fanning a growing national debate on whether Canada is facing a
U.S.-style housing debacle.

While S&P reaffirmed the high ratings of Canada’s biggest
banks, it dropped its outlook to “negative” from “stable.” It
was a shot across the bow for banks still considered among the
healthiest in the world but now facing the risks of a pullback
in consumer borrowing and a downturn in a booming housing market
- reminiscent of the forces that derailed their U.S. rivals four
years ago.

Jul 25, 2012

Analysis – U.S. premium outlet malls to try Canada on for size

TORONTO (Reuters) – With hungry Canadian shoppers flocking to U.S. outlet malls every weekend in search of deals, it is perhaps no surprise that U.S. developers have plans to bring a dozen or more premium outlets to Canada in the next few years.

The strategy is simple: coveted brands at below-retail prices – and no long lines to cross the border.

Jul 25, 2012

U.S. premium outlet malls to try Canada on for size

TORONTO, July 25 (Reuters) – With hungry Canadian shoppers
flocking to U.S. outlet malls every weekend in search of deals,
it is perhaps no surprise that U.S. developers have plans to
bring a dozen or more premium outlets to Canada in the next few
years.

The strategy is simple: coveted brands at below-retail
prices – and no long lines to cross the border.

Jul 25, 2012

Canada home price index at new record, but may cool

TORONTO, July 25 (Reuters) – Canadian home prices hit a
third straight record high in June, but a slowdown in the pace
of price increases suggested the red-hot housing market is
cooling, 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 climbed 1.2 percent
in June from a month earlier. From a year earlier, the index was
up 5.4 percent. But it was the seventh straight month in which
year-on-year price gains slowed.

Jul 15, 2012

Analysis: A cooling Canadian housing market still poses risks

TORONTO (Reuters) – For the first time in three years, Toronto’s sizzling housing market is showing signs of cooling, bringing a sigh of relief to David Fleming and other Canadian real estate agents who feared the market boom was getting out of control.

“It is a balanced market right now, where you don’t have to make a decision with a gun to your head,” said Fleming. He said the bidding wars of the past few years have evolved into mere skirmishes among prospective buyers.

Jul 10, 2012

Canada housing starts bounce higher in June

TORONTO, July 10 (Reuters) – Canadian housing starts climbed
unexpectedly in June as multiple urban starts in Quebec and
British Columbia bounced higher, but homebuilding is still
expected to slow as the year progresses, Canada Mortgage and
Housing Corp said on Tuesday.

The seasonally adjusted annualized rate of housing starts
surged to 222,700 units in June, compared with an upwardly
revised rate of 217,400 units in May. The May figure was
initially reported as 211,400 units.

Jun 11, 2012

Toronto braces for a deflating condo bubble

TORONTO, June 11 (Reuters) – Each panelist at a recent
Toronto real estate conference had a reason why the city’s condo
market is not a bubble. But the developers, the lender, the
receiver, the marketer and the real estate agent each talked
about the things that worry them.

“Everyone is uncertain about what is going to happen in the
condo market in the next few years,” said Steve Gagro, a senior
manager at Laurentian Bank of Canada who specializes in
lending to real estate developers.

Jun 11, 2012

Foreign investment cuts both ways in Toronto condo market

TORONTO, June 11 (Reuters) – Talking about Toronto’s condo
craze has become something of a sport for residents of Canada’s
largest city, where soaring real estate prices and a forest of
construction cranes have fed speculation of a real estate
bubble.

But the big question is how much of the market is fueled by
cash-rich foreign investors, and whether they, seeking to
capitalize on more than a decade of rising prices, are
preventing the market from a soft landing.

Jun 8, 2012

Canadian housing starts slow in May as expected

TORONTO, June 8 (Reuters) – Canadian housing starts slowed
as expected in May after a red-hot April, retreating to the
average of the last six months in a sign the nation’s bubbling
housing market is beginning to cool, analysts on Friday.

The seasonally adjusted annualized rate of housing starts
was 211,400 units, compared with a 243,800-unit pace in April,
according to a report by the Canada Mortgage and Housing Corp.
The April figure was revised down from 244,900 units reported
previously.

Jun 4, 2012

Imported gangs, guns, cited in Toronto shooting

By Andrea Hopkins

(Reuters) – The gunman chose a busy downtown Toronto shopping mall to carry out the 21th murder of the year in Canada’s largest city.

While the reckless shooting shocked a city that prides itself on its civility, visitors to the Eaton Centre mall on Monday insisted that Saturday’s incident was most unCanadian, tied to foreign guns, immigrants and gangs.