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Newsreel 5

TRUMP ELECTION WIN WREAKS HAVOC WITH RATE-CUT EXPECTATIONS GLOBALLY

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TRUMP ELECTION WIN WREAKS HAVOC WITH RATE-CUT EXPECTATIONS GLOBALLY

Central bankers the world over are gauging whether their worst fears over Donald Trump will come to pass following his resounding return to the U.S. presidency. Trump has promised levies on U.S. imports that would upend global trade, tax cuts that would further stretch the federal budget and deportations that could shrink the pool of cheap labour. That poses two main risks: Slower economic expansion around the world and faster inflation at home that would make the United States Federal...

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CANADIAN PERMANENT RESIDENT APPLICATIONS FALL 57%, WEAKEST MONTH IN YEARS

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CANADIAN PERMANENT RESIDENT APPLICATIONS FALL 57%, WEAKEST MONTH IN YEARS

Canada plans to limit permanent resident visas next year, but they’re already plunging lower without restrictions. Immigration, Refugees and Citizenship Canada (IRCC) data shows permanent resident applications made a sharp drop in July. Even if the current trend stops eroding and stabilizes, the country would struggle to hit next year’s planned limits without any policy changes. A problem that policymakers would have been aware of when they decided to make the announcement. Canadian Permanent...

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HAPPY DIWALI FROM RHB!

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HAPPY DIWALI FROM RHB!

May the light of Diwali shine in your life and bring you peace, prosperity, and happiness. Happy Diwali from RHB!

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JUSTIN TAYLOR NAMED CHIEF OPERATIONS OFFICER, SIGNET GROUP INC.

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JUSTIN TAYLOR NAMED CHIEF OPERATIONS OFFICER, SIGNET GROUP INC.

Signet Group Inc. is pleased to announce that Justin Taylor will be joining the firm as Chief Operations Officer, effective October 28, 2024. “Justin will oversee the operations and management of Signet’s commercial and residential portfolios alongside our talented team”, says Gerald Greenberg, President & CFO. Before joining Signet, Justin held the position of COO at Greenrock for over 12 years.  Justin’s brings with him over 25 years of senior management experience...

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FEDS LAUNCH MORTGAGE REFINANCING PROGRAM TO BOOST SECONDARY SUITES AND EASE HOUSING CRUNCH

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FEDS LAUNCH MORTGAGE REFINANCING PROGRAM TO BOOST SECONDARY SUITES AND EASE HOUSING CRUNCH

Deputy Prime Minister Chrystia Freeland announced that starting January 15, 2025, Canadians will be able to access up to 90% of their home’s value through default-insured mortgage refinancing to build secondary suites. This new program marks a revival of a similar initiative that was discontinued in 2016, when the federal government tightened mortgage insurance rules to cool the overheated housing market. The reintroduction of this option is part of a broader effort to address the current...

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ONTARIO’S BIG CITIES SAW INVESTORS BUY UP TO 85% OF CONDOS, FUELED BY GOVERNMENT INCENTIVES

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ONTARIO’S BIG CITIES SAW INVESTORS BUY UP TO 85% OF CONDOS, FUELED BY GOVERNMENT INCENTIVES

Canadian real estate is increasingly being scooped up by investors, and incentives play a large role. That was the take in the latest report from the Canadian Housing Statistics Program (CHSP) at Statistics Canada (Stat Can). The agency’s latest numbers show that up to 85% of condo apartments in Ontario’s ten largest census metropolitan areas (CMAs) were investor-owned in 2022. More surprisingly, the CHSP attributes this boom in part to large, single corporate investors fueled by government...

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MANITOBA GOVERNMENT ANNOUNCES $1.2M TO END PAUSE ON RENT TOP-UP PROGRAM FOR LOW-INCOME RESIDENTS

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MANITOBA GOVERNMENT ANNOUNCES $1.2M TO END PAUSE ON RENT TOP-UP PROGRAM FOR LOW-INCOME RESIDENTS

The Manitoba government says it’s spending another $1.2 million to end what it previously called a “temporary pause” on a program that hundreds of people at risk of homelessness count on to pay their rent. The province had in recent weeks paused new applications to the youth and homelessness streams of the Canada-Manitoba Housing Benefit, which it said in a letter issued to some community organizations last month was because of “unprecedented demand” for the...

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WHY ARE CITIES LIKE VANCOUVER STILL BANNING APARTMENTS IN MOST AREAS?

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WHY ARE CITIES LIKE VANCOUVER STILL BANNING APARTMENTS IN MOST AREAS?

Vancouver is the epicentre of B.C.’s housing crisis and shortage. So why does the city still effectively ban new apartment buildings on most of its residential land, reserving it exclusively for low-density housing While there have been small steps toward reforming single-family zoning in Vancouver in recent years, apartments are still not allowed on more than three quarters of the city’s residential land. Much the same is true in other big, expensive cities in British Columbia and across...

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ALBERTA POPULATION SURGE CAUSING RAFT OF POLITICAL AND FINANCIAL PROBLEMS FOR THE PROVINCE

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ALBERTA POPULATION SURGE CAUSING RAFT OF POLITICAL AND FINANCIAL PROBLEMS FOR THE PROVINCE

Alberta’s classrooms are crowded. Housing costs are expected to climb, propping up inflation. Economic growth will lag population growth. The province started its most recent fiscal update with good news: It expects a surplus of $2.9-billion this year, more than eight times larger than it originally predicted. Then came the bad: “The rapid and unexpected growth in population has added pressures on government programs and services,” the government said. This clinical description, contained in...

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CANADA’S UNEMPLOYMENT RATE APPROACHING ‘WORRYING LEVELS’: SENIOR ECONOMIST

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CANADA’S UNEMPLOYMENT RATE APPROACHING ‘WORRYING LEVELS’: SENIOR ECONOMIST

A senior economist at job-search website Indeed says that Canada’s unemployment rate is approaching “worrying levels” as employment growth continues to lag behind the number of new participants in the labour force. “The story really is that the job numbers aren’t keeping up with that soaring size of the labour force and it’s resulting in a weaker employment situation,” Brendon Bernard told BNN Bloomberg in a Friday interview. Bernard’s comments came immediately after Statistics Canada released...

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