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Cannabis ‘Gold Rush’ will boost retail in Canada, RioCan says

Posted in Appraisal, Bylaws / Regulations, Communications, Employment, Finance, Health & Safety, Industry Trends, Legal, Legislation, Newsworthy, Tenancy Law

Cannabis ‘Gold Rush’ will boost retail in Canada, RioCan says

RioCan Real Estate Investment Trust said it’s anticipating a “gold rush” from Canada’s legalization of recreational marijuana in October, bringing premium rents and boosting demand for retail real estate across the country’s biggest markets. Canadian pot companies say they’re ready to start building in Ontario if its government allows private stores to sell marijuana, a prospect being considered by the conservative premier, Doug Ford. That system would mark a shift from the previous, liberal...

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Robust Growth Pushes Canada’s Jobless Rate to Lowest Since 1970s

Posted in Appraisal, Communications, Employment, Finance, Industry Trends, Newsworthy

Robust Growth Pushes Canada’s Jobless Rate to Lowest Since 1970s

Canada’s jobless rate returned to four-decade lows in July on stronger-than-expected employment gains, adding to evidence the nation’s economy continues to power ahead. The unemployment rate declined to 5.8 percent from 6 percent in June, matching the lowest level since the 1970s, Statistics Canada reported Friday from Ottawa. The economy added 54,100 jobs, marking a second straight month of exceptionally strong labor market gains. While the breakdown was less rosy in July — all the...

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Trump Hails Nafta Talks With Mexico, Says Canada Must Wait

Posted in Bylaws / Regulations, Communications, Development, Employment, Finance, Housing, Industry Trends, Newsworthy

Trump Hails Nafta Talks With Mexico, Says Canada Must Wait

President Donald Trump said negotiations with Mexico on a new Nafta are “coming along nicely,” while telling Canada it will have to wait to re-enter the talks to modernize the three-nation trade pact — hinting at his preference for bilateral negotiations. “Deal with Mexico is coming along nicely. Autoworkers and farmers must be taken care of or there will be no deal,” Trump tweeted late Friday, adding that incoming Mexican president Andres Manuel Lopez Obrador “has been an absolute...

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Poloz faces inflation, Trump ‘dilemma’ in rate decision: Economist

Posted in Appraisal, CMHC, Communications, Employment, Housing, Industry Trends, Newsworthy

Poloz faces inflation, Trump ‘dilemma’ in rate decision: Economist

Bank of Canada Governor Stephen Poloz faces a big “dilemma” coming from both sides of the border when he makes his next interest rate decision in September. While the Canadian economy appears strong with the latest unemployment rate falling to a four-decade low of 5.8 per cent in July, Poloz also is battling accelerating inflation at home and economic risks from trade issues with the U.S. when considering what the central bank’s next move will be, said Benjamin Tal, deputy chief economist with...

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Now Your Tenants Know Your Cannabis Rules…But Do Your Staff?

Posted in Bylaws / Regulations, Communications, Employment, Health & Safety, Industry Trends, Insurance, Legal, Legislation, Newsworthy, Real Estate Law

Now Your Tenants Know Your Cannabis Rules…But Do Your Staff?

Most multi-res industry professionals have now updated their leasing documents in anticipation of the legalization of cannabis use, cultivation and distribution to ensure the health and safety of residents; preservation of property; and the avoidance of resident conflicts. With cannabis legalization scheduled for October, industry professionals would be prudent to turn their attention to their employees, “agents”, and contractors, all of whom are in a position where their...

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Millennials Study: Down Payments Delay Homeownership by up to 35 Years

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Employment, Finance, Housing, Industry Trends, Newsworthy

Millennials Study: Down Payments Delay Homeownership by up to 35 Years

Most Millennials tend to greatly underestimate the amount they will need for a down payment. The national average down payment amount is about $25,000, but 30% of Canadian Millennials have less than $10,000 in savings, and 10% have no savings at all. In Canada’s 10 most populous cities, the time needed to save for a down payment varies significantly: from 20 years in Vancouver, to 4.6 in Toronto, and as little as 1 year in Edmonton. In the nation’s seven most expensive markets, Millennials...

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Saudi Arabia suspends diplomatic, trade ties with Canada

Posted in Communications, Finance, Industry Trends, Newsworthy

Saudi Arabia suspends diplomatic, trade ties with Canada

Saudi Arabia suspended diplomatic ties and new trade dealings with Canada in response to Canada’s call for the release of women’s rights activists — a dramatic escalation that highlights the kingdom’s increasingly assertive foreign policy under Crown Prince Mohammed bin Salman. Saudi Arabia recalled its ambassador to Ottawa and ordered the Canadian envoy to Riyadh to leave within 24 hours, according to a Foreign Ministry statement. Canada is “seeking greater clarity” about...

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China dethroned as world’s second-biggest stock market amid U.S. trade war

Posted in Communications, Employment, Finance, Industry Trends, Newsworthy

China dethroned as world’s second-biggest stock market amid U.S. trade war

China just lost its ranking as the world’s number two stock market. After a Thursday slump, Chinese equities were worth US$6.09 trillion, according to data compiled by Bloomberg. That compares with US$6.17 trillion in Japan. The U.S. has the world’s largest stock market at just over US$31 trillion. China’s stock market overtook Japan’s in late 2014, then soared to an all-time high of more than US$10 trillion in June 2015. Chinese equities and the nation’s currency have taken a beating this...

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‘Fantastically good’ Canadian economy shifts focus to rate hike

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Employment, Finance, Housing, Industry Trends, Newsworthy

‘Fantastically good’ Canadian economy shifts focus to rate hike

Canada’s economy is gaining strength instead of buckling amid a trade fight with the U.S. Exports rose to a record high in June even as President Donald Trump slapped tariffs on steel and aluminum, and gross domestic product expanded in May at its fastest clip in a year, according to data released this week by Statistics Canada. That has economists predicting second-quarter growth of more than 3 per cent and talking about the possibility of a second-straight rate increase from the Bank of...

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3 unexpected ways Montreal’s housing market continues to heat up

Posted in Appraisal, Bylaws / Regulations, CMHC, Communications, Development, Finance, Housing, Industry Trends, Newsworthy

3 unexpected ways Montreal’s housing market continues to heat up

Strong immigration numbers and a red hot job market have been boosting the Montreal housing market all year, and last quarter was no exception. As other cities struggle to adjust to the effects of new policy, including a mortgage stress test, the Montreal market has posted month-after-month of rising home sales and prices. Read on for a closer look at three ways the market continued to outperform last quarter. Sales are climbing The second quarter of 2018 saw a 4 per cent quarter-over-quarter...

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