Andrea's Feed
Oct 1, 2012

Hockey’s Gretzky preaches fiscal conservatism, shuns risks

TORONTO, Oct 1 (Reuters) – Retired hockey superstar Wayne
Gretzky says his father, Walter, not only taught him how to play
the game but also to be financially conservative, avoid debt and
put his money where it is safest: in the bank.

“My dad always told me: ‘It could end tomorrow’,” Gretzky
told reporters in Toronto on Monday as he touted retirement
planning for the wealth management arm of Toronto-Dominion Bank,
Canada’s second-largest bank.

Sep 19, 2012

Canada home resale prices up 0.2 pct in August -Teranet

TORONTO, Sept 19 (Reuters) – Canadian home resale prices
edged higher in August from July but a slower pace of gains and
falling prices in three of 11 markets surveyed suggested the
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 0.2 percent
in August from a month earlier, the smallest August gain in 12
years.

Sep 18, 2012

“Soft landing at worst” for Canada housing market-Scotiabank CEO

TORONTO, Sept 18 (Reuters) – New data showing a slowdown in
Canada’s hot housing market was largely expected and a market
correction will not have a significant impact on the Canadian
economy or on its big banks, the head of Bank of Nova Scotia
said on Tuesday.

As Canadian homeowners and economists watch and worry about
the risk of a U.S.-style housing crash, Scotiabank Chief
Executive Rick Waugh said he believes the country’s mortgage
lenders and its economy will withstand a drop in both prices and
sales.

Sep 17, 2012

Canada home sales drop in August, forecasts cut

TORONTO, Sept 17 (Reuters) – Sales of existing homes in
Canada dropped in August from July, notching the biggest
month-over-month decline in more than two years, the Canadian
Real Estate Association said on Monday as it cut its sales and
price forecasts for this year and next.

The industry group for Canadian real estate agents said
sales were down 5.8 percent in August from July. Actual sales
for August, not seasonally adjusted, were down 8.9 percent from
a year earlier.

Sep 11, 2012

Canada August housing starts surge unexpectedly – CMHC

TORONTO, Sept 11 (Reuters) – Canadian housing starts surged
unexpectedly in August as a few large multi-unit projects in
Toronto, presold in late 2010 and early 2011, broke ground, data
from Canada Mortgage and Housing Corp (CMHC) showed on Tuesday.

The seasonally adjusted annualized rate of housing starts
was 224,900 units in August, up from 208,000 units in July and
well above the 200,000 average forecast of analysts in a Reuters
poll.

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.