A Bank of Canada official called talks of a Canadian housing bubble premature in a speech in Edmonton Monday, adding higher interest rates are not the solution to cooling the current surge in housing demand and prices.
"If the bank were to raise interest rates to cool the housing market
By The Canadian Press
TORONTO - A new Royal LePage survey predicts Canada's residential real estate market will remain unusually strong through the first half of 2010.
The real estate firm says as confidence in the economic recovery grows, average prices are expected to continue to increase.
Roya
Ottawa has been creating a housing bubble in Canada with taxpayer money, which is why residential real estate prices rise in defiance of high unemployment and recession.
Ottawa's low interest rate policy and Crown agency Canada Mortgage and Housing Corporation's dramatic increase in mortgage backst
BEIJING -- Canadian Finance Minister Jim Flaherty on Wednesday described recent positive economic signs as encouraging but tentative.
Speaking to reporters after three days of meetings in Beijing, Flaherty said he welcomed Chinese direct investment in Canada but had not been made aware that
OTTAWA -- Housing starts in Canada declined unexpectedly in July, falling to an annualized rate of 132,100 in July from 137,800 in June, Canada Mortgage and Housing Corp said Tuesday.
Economists had been calling for a seasonally adjusted rate of 145,000 new home starts.
The housing
Toronto’s housing market has followed a record-breaking June with its best July ever and real estate experts say sellers will have the advantage with the current limited inventory and prices edging higher.
According to the Toronto Real Estate Board, homes sales in the Greater Toronto Area las
OTTAWA -- Canada's economy contracted more than expected in May as the recession hammered key industries, such as energy and manufacturing, despite signs that a much-anticipated recovery is on the way.
Statistics Canada said Friday that gross domestic product declined by 0.5% during the month. That
OTTAWA -- Canadian housing prices rose in May by 0.7% -- the first time since October that they didn't decline month-over-month, according to a national index released Wednesday.
However, May's increase was not enough to stop the downward trend in year-over-year prices. The Teranet-National Bank ho
The Bank of Canada learned about suspected leaks of economic data weeks before unusual movements in currency markets triggered a security review by Statistics Canada, documents obtained by Bloomberg News show.
The 54 pages received through access-to-information laws show discussions from Ap
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