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Affichage des résultats pour les étiquettes 'columbia'.
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Could Montreal's real estate market be the next target for foreign investors?
un sujet a posté _mtler_ dans L'actualité
http://www.cbc.ca/beta/news/canada/montreal/montreal-real-estate-tax-foreign-investors-vancouver-1.3704178 A new tax on foreign buyers in Vancouver has real estate agents predicting a spillover effect into other Canadian markets. But it's unclear if Montreal, often an outlier when it comes to real estate trends, will be among them. "I really don't think this is something that's looming for Montreal," said Martin Desjardins, a local realtor. The market here is "nothing compared to what's happening in Toronto and Vancouver," he said. The new 15 per cent tax, which took effect Tuesday, was introduced by the British Columbia government with the intent of improving home affordability in Metro Vancouver, where house prices are among the highest in North America. Ontario Finance Minister Charles Sousa has said he is examining the possibility of a similar tax "very closely," as a measure to address Toronto's skyrocketing home prices. Experts believe the Vancouver tax could exacerbate the booming housing market in Toronto and, potentially, affect other Canadian cities. Brad Henderson, president and CEO of Sotheby's International Realty Canada, said some foreign nationals could turn to areas not subject to a tax — either elsewhere in British Columbia or farther afield. "Certainly I think Toronto and potentially other markets like Montreal will start to become more attractive, because comparatively speaking they will be less expensive,'' Henderson said. However, the Montreal market has so far remained off the radar of foreign investors. France, U.S top Montreal foreign buyers the Canada Mortgage and Housing Corporation said the number of foreign investors in the Montreal area is small and concentrated in condominiums in the city's downtown. The report found that 1.3 per cent of condominiums in the greater Montreal region were owned by foreigners last year. That number jumps to nearly five per cent in the city's downtown. Residents of the United States and France accounted for the majority of foreign buyers, while China (at eight per cent) and Saudi Arabia (five per cent) accounted for far fewer buyers. Francis Cortellino, the CMHC market analyst who prepared the study, said it's difficult to determine whether the Vancouver tax will change the situation much in Montreal. "We're not sure yet what [buyers] will do," he said. "There are a lot of possibilities." In Montreal, Desjardins said the foreign real estate buyers most often operate on a much smaller scale, often consisting of "mom and pop investors" or people from France looking for a more affordable lifestyle. "I don't think it will ever be to the point where we'll have to put a tax," he said. Sent from my iPhone using Tapatalk -
Since everyone here loves Maclean's http://www2.macleans.ca/2010/10/14/the-good-bad-and-ugly/ What the hell is going on in BC? (and secondarily, Alberta, Red Deer? Seriously?!) I liked one of the comments:
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Almost 80,000 jobs lost in February: StatsCan By The Canadian Press OTTAWA - Non-farm payrolls lost 79,600 jobs in February, with manufacturing taking the worst hit, Statistics Canada reported Wednesday. The agency said those losses continue a slump that began last October and which has cost 296,000 jobs. The agency's survey of non-farm, payroll employment found the biggest February drop was in manufacturing, where 19,300 jobs were lost. Since October, 99,700 manufacturing jobs have disappeared, a loss of 6.1 per cent. That figure is three times the rate of decline of total payroll employment. Nearly a quarter of the manufacturing job losses came in the auto industry. The survey said the number of employees working in motor vehicle parts manufacturing has fallen by 13,300 since October, while motor vehicle and motor vehicle body manufacturing has dropped by 10,200. As of February, there were 111,500 employees in motor vehicle assembly and parts, down 65,000 or 37 per cent from the peak recorded in 2001. The auto slump has echoes in related industries. Payrolls in auto repair shops are down by 5,000 since October. Auto dealers have cut 4,200 jobs in the period, while parts dealers have 2,300 fewer workers. The construction sector lost 11,100 jobs in February. There were more modest declines other sectors, including non-Internet publishing (4,800), credit intermediaries and related activities (4,300) and truck transportation (4,200). But there were some job gains in health and education, including elementary and secondary schools, and community colleges and CEGEPs in Quebec. The February losses came in all provinces, but Quebec, Ontario, Alberta and British Columbia took the worst hits. Quebec lost 30,300 jobs in February, a 0.9 per cent drop. Ontario and Alberta each experienced a decline of 0.6 per cent, while British Columbia employment fell by 0.4 per cent. While Quebec experienced the largest monthly decline, both Ontario and British Columbia had the biggest drop between February 2008 and February 2009. Over the year, Ontario payrolls declined by 1.7 per cent or 97,800 jobs. The losses were mostly in manufacturing, with a 12.1 per cent drop of 94,000. In British Columbia, payroll employment was down 28,400 or 1.5 per cent in February compared with a year earlier. Much of this decline was linked to forestry and its related industries. Major communities in southwestern Ontario have all shown sharp losses and in March, Windsor had the highest unemployment rate of any large community in the country - 13.7 per cent. Average weekly earnings, including overtime, of payroll employees in February was $820.95, up 1.8 per from February 2008. This was slower than January's year-over-year increase of 2.4 per cent. From Yahoo news: http://ca.news.yahoo.com/s/capress/0...ness/jobs_lost
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Jobless claims soar 21% in Canada Financial Post March 24, 2009 1:02 Lukas Stewart, with his resume strapped to his body, uses a megaphone to attract the attention of potential employers on Bay Street in Toronto's financial district.Photograph by: Mark Blinch/Reuters, Mark Blinch/ReutersOTTAWA -- The number of people receiving employment insurance benefits rose to 567,000 in January, a 21.3% jump from the year before. British Columbia saw the biggest percentage increase, rising 47.7% from last year, followed by Alberta, 46%, and Ontario 43%, Statistics Canada said Tuesday. But Ontario, where the manufacturing sector experienced heavy layoffs, suffered the biggest number increase with claims rising by 54,570 from the year before. “In recent months, labour market conditions in Canada have deteriorated significantly,” the agency said in its report. “Through the early part of 2008, employment growth weakened, only to fall sharply later that year and into 2009, causing a spike in the unemployment rate. By February 2009, the unemployment rate hit 7.7%, up almost two percentage points from a record low at the start of 2008.” The number of beneficiaries is a measure of all persons who received employment insurance benefits from Jan. 11. to 17. In Alberta, 23,300 people were receiving regular EI benefits in January, up 10.5% from the month before. British Columbia had 56,100 beneficiaries, up 9%, while Ontario had 181,500 people receiving EI, which was a 6.2% increase over December. The agency noted year-over-year figures shows the increase in the number of men receiving regular was double that of women. © Copyright © National Post
