Category Archives: Uncategorized

Canadian economy struggles dragging down looney 

The Canadian economy isn’t looking so hot lately, perhaps we need more stimulus. How low can the looney go?

Canada’s currency extended declines after the report, falling 0.5 percent to C$1.3552 against its U.S. counterpart at 9:24 a.m. Toronto time.

The GDP numbers add to recent indicators showing low interest rates and a program of federal government stimulus are so far failing to spur a recovery. Inflation slowedto a 1.2 percent pace in November from a year earlier, the statistics agency said Thursday, a softer reading than economists forecast, with one measure of core inflation slowing to the lowest level since 1996.

Read the full article over at bloomberg.

Friday Free-for-fall!

Autumn is here! Can you smell it?

This being the end of the week, let’s do another Friday Free-for-all shall we?

This is our regularly programmed end of the week news round up and open topic discussion thread for the weekend, we do this every week if you’re new here.

So let’s get to a few links to kick off the chat:

Mayor: foreign buyer tax too little, too late
Opinions? Share them with the city.
Canadians, Aussies and Kiwis in same trap
Bigger bubble than London
Housing Crisis? Blame Canadians.
Skook blogs again! Bowen and Coast stats
Millenials: No Retirement for you!
Correction to be painful.

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent bubble-filled weekend!

Free Money: BC taxes foreign purchases of real estate

The BC government has decided to tax foreign purchases of real estate:

Foreigners who buy residential property in the Vancouver area will have to pay an extra 15-per-cent tax as part of a B.C. government plan to slow the foreign speculation that many blame for making the region’s homes the most unaffordable in Canada.

The change to the province’s property transfer tax announced on Monday means an extra $300,000 in taxes for people from abroad buying a home for $2-million. Detached houses in the area typically run around that or higher. The surprise move comes after the government tracked all residential real estate transactions across British Columbia over four weeks in June and July and found foreign citizens who were not permanent residents bought just more than a billion dollars worth of property.

Read the full article at the Globe and Mail.

Odd that this tax applies to Vancouver only and not the whole province. Why that particular limitation? Will this push buyers into other areas of the province or simply “keep home ownership within the grasp of the middle class in British Columbia” as ms. Clark puts it?

Friday Free-for-all! May 13th, 2016

Lucky you!

It’s Friday the 13th and that means it’s time for another Friday free-for-all, or regular end of the week news round up and open topic discussion thread.

Here are a few recent links to kick off the chat

Normal interest rates are history
Canadian rates to rise?
Why does this government hate free money?
Negative discretionary income
Vancouver, stay or go?
Freak show housing market
One heck of a student loan
Loonie sinks

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!