TORONTO, Sept 10 (Reuters) – Jeff Lowry and his family left
a sedate housing market in Tennessee last year and moved to
Canada in the midst of a housing boom, where bidding wars and
soaring prices were an unpleasant reminder of his American
Trading in his suburban home outside Nashville for a smaller
$600,000 house in Waterdown, Ontario, about 40 miles outside of
Toronto, the 39-year-old regional manager wonders if he’s just
bought into another bubble.
TORONTO (Reuters) – Canadian housing starts cooled more than expected in August, while the previous month was also revised slightly lower, data showed on Tuesday, setting the stage for what is widely expected to be a slowing housing market as 2014 draws to a close.
A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts slipped to 192,368 last month from a downwardly revised 199,813 units in July.
TORONTO, Aug 15 (Reuters) – Sales of existing homes in
Canada rose in July to their highest level since March 2010,
notching their sixth straight monthly increase after a slow
winter, the Canadian Real Estate Association (CREA) said on
CREA, the industry group for real estate agents, said sales
were up 0.8 percent last month from June, surpassing June’s
downwardly revised 0.6 percent increase. Actual sales for July,
not seasonally adjusted, were up 7.2 percent from July 2013.
TORONTO, Aug 13 (Reuters) – Canadian resale home prices rose
in July and the pace of 12-month price appreciation accelerated,
the Teranet-National Bank Composite House Price Index showed on
Wednesday, adding to strong housing starts this summer to signal
a market that continues to be robust.
The index, which measures price changes for repeat sales of
single-family homes, showed national home prices rose 1.1
percent from June, exceeding the historical average for July.
TORONTO, Aug 11 (Reuters) – Canadian housing starts bucked
forecasts and rose in July, data on Monday showed, but analysts
said the recent resumption of the housing market’s upward drive
is likely to falter if mortgage rates rise as expected heading
Canada Mortgage and Housing Corp said the seasonally
adjusted annualized rate of housing starts rose to 200,098 last
month from a upwardly revised 198,665 units in June.
TORONTO (Reuters) – Some of the world’s top women soccer players say FIFA’s proposal to play the 2015 Women’s World Cup finals in Canada on artificial turf instead of grass is discriminatory and violates human rights.
The World Cup finals for men and women, contested every four years, have always been played on natural grass. Players and coaches believe there is a higher risk of injury on artificial turf and that it causes more wear and tear on athletes’ bodies.
TORONTO, July 15 (Reuters) – Sales of existing homes in
Canada rose in June from May, notching the fifth straight
monthly increase after a slow winter and taking sales to their
highest level since March 2010, the Canadian Real Estate
Association said on Tuesday.
The industry group for Canadian real estate agents said
sales activity was up 0.8 percent last month after May’s robust
6.1 percent rise, suggesting the sharp bounceback after a harsh
winter may be losing steam.
TORONTO, July 9 (Reuters) – Canadian housing starts rose in
June, bucking expectations for a modest slowdown in the month
and suggesting the building sector added to economic growth in
the second quarter after a brutal winter, data released on
A report from the Canada Mortgage and Housing Corp showed
the seasonally-adjusted annualized rate of housing starts rose
to 198,185 last month from a downwardly revised 196,993 units in
New York (Reuters) – Royal Bank of Canada’s (RY.TO: Quote, Profile, Research, Stock Buzz) wealth management division, Canada’s biggest player in the high net worth arena, is on the lookout for acquisitions to grow its presence in alternative assets, particularly real estate, and beef up U.S. distribution.
“On the asset management side, we have a viable organic strategy but relatively small business here compared to worldwide. We would be interested in acquisitions that broadened capability in that business,” George Lewis, group head, RBC Wealth Management and RBC Insurance, said on Monday.
New York (Reuters) – The number of millionaires worldwide grew by nearly 2 million last year and the group grew nearly 14 percent richer, boosted by rising stock markets and improving economies, according to a study released on Wednesday.
The number of high net worth individuals, who have $1 million or more to invest, rose 15 percent to 13.7 million in 2013, and their combined wealth rose to $52.62 trillion, marking five years of growth since the 2008 financial crisis, according to Capgemini and RBC Wealth Management’s latest world wealth report.