Andrea's Feed
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.

May 25, 2012

Canada April home prices rise 5.2 pct year-on-year

TORONTO, May 25 (Reuters) – Canadian home prices climbed 5.2
percent in April from a year earlier, boosted by strong gains in
the Toronto market as well as increases in Vancouver and
Calgary, the Canadian Real Estate Association (CREA) said on
Friday.

The rise in the industry group’s home price index for April
compared with a 5.1 percent year-on-year gain in March.

May 17, 2012

CPPIB posts 2012 gains, eyes deals in Europe, Asia

May 17 (Reuters) – The Canada Pension Plan Investment Board,
a n aggressive g lobal dealmaker, notched smaller investment gains
in 2012 as markets sagged but said it sees more opportunities
than ever in 2013 as hard-pressed governments and companies seek
partners with cash.

CPPIB, which manages Canada’s national pension fund, said on
Thursday its assets rose to a record C$161.6 billion ($160.2
billion), making it the seventh-largest pension fund in the
world, as its investment portfolio returned 6.6 percent for the
year ended March 31.

May 13, 2012

Caviar condos set to flood Toronto market

TORONTO, May 13 (Reuters) – Five months after buying one of
Toronto’s new luxury hotel condominiums, Oliver Baumeister is
girding for a glut of suites like his to hit the market as the
biggest names in the hotel business open hundreds of units in
Canada’s largest city.

Baumeister, himself a real estate agent, is in no rush to
sell. When Toronto’s untested market for five-star condo living
absorbs the surplus – say by 2016 – he intends to offload his
sky-high unit for a tidy 20 percent profit, and look for his
next Canadian real estate investment.

May 11, 2012

C$ ends stronger after strong employment gains

TORONTO, May 11 (Reuters) – The Canadian dollar closed
stronger against its U.S. counterpart on Friday after
unexpectedly strong Canadian job gains boosted bets on a rate
hike, but global woes tempered gains.

Defying market expectations, Canada added 58,200 jobs in
April, mostly full-time, after a whopping gain of 82,300 new
positions in March.