Municipal governments are starting to put green standards in place for developers and builders to follow to help protect the planet. But will it really work?
Two interest rate cuts at the next two Bank of Canada meetings and emergency funding far above that announced by Justin Trudeau, will be necessary to avoid recession.
That’s how Scotiabank chief economist Jean-Francois Perrault reads the current trajectory of the Canadian economy amid the impact of the COVID-19 coronavirus outbreak.
With cases rising rapidly globally, the fiscal response announced Wednesday by the Canadian government - $1.1 billion in health related funding and support for businesses and workers – will be inadequate to avoid recession says Perrault.
His call follows comments from RBC chief executive David McKay that the response would require more than just rate cuts.
In a report he wrote that: “A reasonably mild recession appears likely unless timely and targeted fiscal measures are deployed in the very near future to deal with the economic impacts of the virus.”
He added that this would require stimulus equivalent to 1% of Canada’s GDP, around $20 billion. With stimulus, he forecasts that total GDP for 2020 will increase 0.7% but without growth will be less than half that (0.3%).
Perrault expects the Bank of Canada to cut interest rates by 50 basis points at its next two meetings but some believe they could go for a steeper reduction.
Interest rates at 0.25% BMO economist Michael Gregory is also predicting that the BoC will slash interest rates by a total of 100 basis points at its next two meetings, taking the rate to 0.25%.
Gregory is calling for 0.5% growth in GDP this year rather than the 1% the bank was forecasting before the virus crisis.
The survey shows that buying a home in a major city centre has risen 5% since last year.
The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.The more time and money a developer spends navigating the extensive labyrinth of procedural processes, the costlier it becomes to build a new home.
Coming to Toronto May 14-15 is an in-person event discussing multifamily investing and the benefits it can have for new and experienced investors.
For Real Estate News and Market Updates & VIP Access to Exclusive Real Estate Investment Opportunities
Canadian Real Estate Wealth Media Corp. needs the contact information you provide to us to contact you with news and market updates and to share real estate investment opportunities. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, please review our Privacy Policy.
Many Torontonians and GTA investors perceive Windsor in a different light. But the reality is, it's a growing city that has much to offer investors, homebuyers, students, immigrants, and retirees alike.
While Calgary has continued to increase in popularity, prices have remained steady unlike in markets like Toronto and Vancouver. It holds many benefits for investors.
The Scott McGillivray Real Estate Fund helps people understand passive real estate investing. Scott McGillivray himself has been speaking to people about how to invest in real estate for over 15 years.
From February 2022 to April 2022, there have already been significant price decreases. However, that doesn't mean affordability is around the corner.
According to OSFI, the real estate market in Canada has seen a massive run-up resulting from low-interest rates and supply/demand imbalances.
“Sign up for our daily newsletter to get the latest news, updates and offers delivered directly to your inbox.”