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Industry News

Residential real estate relies on first-time buyers like McDonalds relies on kids loving hamburgers.


We need constant demand from young people to keep home prices on the incline.


So what happens when it gets harder for fledgling buyers to qualify for the same priced house?


With other things equal, prices should drop to meet that new level of demand. But things are rarely equal.


Click here for the full article from


Many questions remain, and some issues need to be resolved, but it’s worth asking today whether the euro zone is beginning to turn the corner.


The 17-member monetary union has been plagued by a debt crisis for more than two years, and several of the countries are deep in recession and crippled by high unemployment, but its leaders are moving more in concert to ease the strains.


“Is it too much to hope that the euro zone really is getting its act together?” said futures dealer Rupert Osborne of IG Index in London. “Probably. But we should for now be thankful that progress is being made.”


Osborne’s comments followed two positive developments today, including a key ruling by Germany’s constitutional court in support of the rescue fund known as the European Stability Mechanism, or ESM. Added to that was the European Commission unveiling its proposals for a banking union, with central oversight by the European Central Bank.


Click here to read more in the Globe and Mail.


Canada’s economy remains vulnerable to global risks, Finance Minister Jim Flaherty warned yesterday.


While boasting that Canada has done the best among the G7 countries in terms of job creation, Flaherty told the St John’s Board of Trade that “the global economy remains frustratingly fragile.”


“For example, growth in a number of emerging-market economies is slowing, and concerns are growing about the capacity of the US to balance the necessary fiscal consolidation while sustaining economic growth,” he said.


Flaherty focused on Europe’s debt crisis as the most immediate challenge. “High debt levels in some countries mean new fiscal stimulus could be counterproductive,” he said. “In addition, monetary policy rates are near zero in many countries, raising doubts about the ability to further lower interest rates and stimulate lending, including unconventional measures.”


Click here for more from CBC News.


Canada’s inflation measure doesn’t properly capture rising house prices and runs the risk of causing the central bank to leave interest rates too low for too long, the CD Howe Institute argues in a new report today.


The Consumer Price Index (CPI), which the Bank of Canada uses to track inflation, is relatively insensitive to housing price changes and did not fully capture the recent run-up, the report says. That’s largely because the index looks to capture the cost of home ownership more than it does the actual price of houses. So when interest rates decrease, making monthly mortgage payments cheaper, the housing component of CPI drops.


The study by CD Howe analyst Philippe Bergevin argues that lower mortgage payments send the wrong signal about inflation, since lower interest rates support higher house prices.


The central bank has been using the CPI as an inflation indicator since 1991, when the country adopted a monetary policy based on inflation targeting.


Click here for the full Globe and Mail article.


Would-be buyers are often scared by hellish income property stories.


But if you want to stay out of property purgatory, click here to read the 7 deadly sins of income investing from Canadian Real Estate Wealth.

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