TORONTO, Jan 9 (Reuters) – Canada’s once-hot housing market
showed signs of cooling as 2013 drew to a close, with building
permits and housing starts falling and prices leveling off in
the final months of the year after a strong summer and fall.
Three separate reports released on Thursday showed the same
cooling trend, with weaker-than-expected readings for November’s
new housing price index and building permits, and December’s
TORONTO (Reuters) – Toronto Mayor Rob Ford, who won global ridicule last year after admitting to having used crack cocaine, registered on Thursday for the October mayoral election, saying he was the best mayor Canada’s largest city has ever had and would be re-elected.
Ford, who last year admitted that he smoked crack while in a “drunken stupor,” purchased illegal drugs while in office and drove after drinking, said his slogan will be “Ford more years.”
TORONTO, Dec 20 (Reuters) – It’s been years since fixed
income offered investors the “safe and stable” side of a
portfolio, but Canadian asset managers believe the waves created
by the Federal Reserve’s tapering may make investing in bonds an
especially bumpy ride in 2014.
The year ahead has been billed as one in which interest
rates start creeping back to historical norms and the 30-year
bond bull market comes to an end. But with economic growth still
sub-par, Canadian money managers say there is money to be made
in fixed income if investors pick the right spots.
TORONTO, Dec 18 (Reuters) – Canada’s investment industry is
gearing up for a final battle to kill a proposed regulation that
would formally require advisers to act in the best interest of
clients, a change that could eat into the profit of wealth
According to polls, most Canadian investors do not realize
that advisers have no “fiduciary duty” to their clients. Instead
of looking after the best interests of the investors they serve,
advisers currently need only meet a “suitability standard,”
providing advice or selling products that conform with the
Dec 18 (Reuters) – Canadian condominium construction has
surged but population growth has kept oversupply in check, the
federal housing agency said in a report on Wednesday that also
showed declining mortgage arrears and high home-equity levels.
In its annual report on the housing market, the Canada
Mortgage and Housing Corp pointed to steady mortgage debt and an
increasing number of households as evidence that residential
real estate is in good shape, despite warnings from observers
that the market is overheated.
TORONTO, Dec 16 (Reuters) – Sales of existing homes in
Canada dipped in November from October as a surge in autumn
sales spurred by rising mortgage rates abated, the Canadian Real
Estate Association said on Monday.
The industry group for Canadian real estate agents said
sales activity was down 0.1 percent last month from October.
TORONTO, Nov 15 (Reuters) – Sales of existing homes in
Canada declined in October from September, suggesting the summer
surge in sales was boosted by homebuyers who jumped into the
market amid the threat of rising mortgage rates, dampening
demand as the year draws to a close.
The Canadian Real Estate Association said on Friday sales
activity was down 3.2 percent last month from September, ending
a string of monthly gains that began in the spring.
TORONTO, Nov 13 (Reuters) – Canadian home prices edged
higher in October from the month before but the gain was lower
than average, suggesting the market is cooler than usual, the
Teranet-National Bank Composite House Price Index showed on
The index, which measures price changes for repeat sales of
single-family homes, showed overall prices rose 0.1 percent last
month from September. The average October monthly gain over 15
years of data has been 0.2 percent, Teranet said.
TORONTO, Nov 8 (Reuters) – The Canada Pension Plan
Investment Board, one of the world’s biggest pension fund
investors, is prepared to sit back and wait for good deals to
come along since most assets appear fully valued right now, its
chief executive said on Friday.
The head of CPPIB, which reported gross investment returns
of 1.8 percent to help grow its net assets to C$192.8 billion in
its latest quarter, said the fund will stick its money in
passive investments if needed as it waits for investment
opportunities where the price is not too high.
TORONTO, Nov 8 (Reuters) – It would be foolish for Canadian
rules on foreign investment to be too clear because Ottawa needs
a certain amount of discretion when considering takeover bids,
Prime Minister Stephen Harper said on Friday.
Last December, Canada allowed China’s CNOOC Ltd to
buy domestic energy firm Nexen Inc despite unhappiness among
some legislators in the ruling Conservative Party, who said they
did not like the idea of foreign state-owned enterprises buying
Canadian energy assets.