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Found 18 results

  1. Harper disagrees with pessimistic report on Canadian housing market Wed Sep 24, 1:46 PM Conservative Leader Stephen Harper says he disagrees with a report by brokerage firm Merrill Lynch that warns Canada could be headed for a housing and mortgage meltdown similar to the one that has devastated the United States economy. The report, issued Wednesday by Merrill Lynch Canada economists David Wolf and Carolyn Kwan, said many Canadian households are more financially overextended than their counterparts in the U.S. or Britain. They said it's only a matter of time before the "tipping point" is reached and the housing and credit markets crack in Canada. "I don't accept that conclusion, not at all," Harper told reporters on tour in British Columbia. "We have seen the housing market and the construction market much stronger in Canada than in the U.S.," he said. Harper said Canadian financial institutions have also taken a different approach to lending than their American counterparts. "We don't have the same situation here with the mortgages as was the case in the U.S. with the subprime mortgages there," he said. "So, therefore, I think that our market is in a much stronger position." The report acknowledges that the analysis is more pessimistic than the prevailing view. Many economists have been saying that Canada's housing and banking sectors are much more stable than their American counterparts, and will likely slow down but not crash. But Merrill Lynch Canada - whose U.S. parent is one of the biggest victims of a crisis in financial markets arising from the American housing and mortgage meltdown - said Canadians should be wary. Household net borrowing in Canada amounted to 6.3 per cent of disposable income in 2007, which is more than households in the U.K. and not far off the peak reached by U.S. households in 2005. The report also said housing prices are now falling and inventories of unsold homes are rising sharply in Canada, suggesting that this market turnaround will not be a transitory phenomenon. However, the prevailing view is that Canada's lenders have issued few of the type of subprime mortgages that sparked the U.S. crisis. In addition, a recent study showed that Canadian residential properties are not overvalued in most cities. With files from the Canadian Press lien
  2. La banque américaine en cours de rachat par Bank of America a de nouveau enregistré de lourdes pertes au troisième trimestre, marqué par près de 10 G$ US de dépréciations. Pour en lire plus...
  3. Cette décision fait suite du rachat de la banque d'affaires Merrill Lynch et en raison du «mauvais climat économique». Pour en lire plus...
  4. John Thain, qui a piloté la vente de Merrill Lynch, vient d'être évincé après la perte de 15,4 milliards US subie par Merrill Lynch. Pour en lire plus...
  5. La première maison de courtage du monde trouve un sauveur dans la Bank of America qui lui évite une possible faillite en la rachetant pour 50 milliards de dollars. Pour en lire plus...
  6. Le prix des maisons de la région métropolitaine est surévalué de plus de 10%, selon une étude de Merrill Lynch Canada, qui prévoit aussi une stagnation des prix au Canada. Pour en lire plus...
  7. L'ancien patron de Merrill Lynch, John Thain, a été licencié jeudi par son nouvel employeur, Bank of America, qui a absorbé la banque d'affaires au 1er janvier. Pour en lire plus...
  8. En vertu de la transaction proposée, les actionnaires de Merrill Lynch recevront 0,8595 action ordinaire de Bank of America pour chacune de leur action de Merrill Lynch. Pour en lire plus...
  9. Le naufrage de Lehman Brothers, jumelé à l'absorption de Merrill Lynch par Bank of America, montre bien que la crise financière est loin de s'apaiser. Pour en lire plus...
  10. Cette transaction va donner naissance à la première institution financière mondiale et devrait être finalisée début 2009, a annoncé la banque, lundi. Pour en lire plus...
  11. http://lapresseaffaires.cyberpresse.ca/dossiers/budget-quebec-2012/201203/20/01-4507516-le-chomage-va-augmenter.php?utm_categorieinterne=trafficdrivers&utm_contenuinterne=cyberpresse_BO4_la_2343_accueil_POS1 En Plus compressions chez Aveos, Transcontinental et Merrill Lynch. Oufff...Raise taxes!!! :quebec:
  12. La banque américaine fait l'objet de plusieurs actions de groupe et d'enquêtes des régulateurs dans le cadre de la vente d'obligations ARS qui ont valu des recours en justice à UBS et Merrill Lynch. Pour en lire plus...
  13. La banque d'affaires américaine récolterait 4,5 G$ US en vendant sa participation de 20% dans le fournisseur d'informations financières. Pour en lire plus...
  14. John Thain, PDG de Merrill Lynch, dit s'attendre à ce que des «milliers» d'emplois disparaissent à la suite du rachat de sa société, au prix de 50 milliardsUS, par Bank of America. Pour en lire plus...
  15. Bank of America, un temps présenté comme un possible repreneur de la banque d'affaires Lehman Brothers, est en «discussions avancées» pour acquérir sa concurrente Merrill Lynch, affirme dimanche le quotidien New York Times, citant «des personnes informées». >>>Plus de détails à venir Pour en lire plus...
  16. La deuxième banque des États-Unis annoncent qu'elle entend supprimer jusqu'à 35000 postes d'ici trois ans, notamment en raison de son rachat de Merrill Lynch. Pour en lire plus...
  17. Housing market seen following commodities Value of building permits drops. Homes in Montreal, elsewhere overvalued by 10%, Merrill Lynch economist says ALIA MCMULLEN, Canwest News Service Published: 8 hours ago An outright decline in commodity prices could spell disaster for Canada's housing market, which already appears to have entered a "sustained downturn," David Wolf, an economist at Merrill Lynch Canada, warned yesterday. He said while the risk of a housing market crash was small, an "outright bust" in commodity prices would make the scenario "a rather more serious threat." The recent trickle of data has shown a significant slowdown in the country's housing market, following its record pace of growth. Demand has eased, supply continues to creep up, credit conditions remain tight, and house-price growth has turned flat with declines in some regions. The value of building permits in June fell a seasonally adjusted 5.3 per cent from the previous month, indicating that construction activity in the coming months probably will be lower, Statistics Canada figures showed yesterday. The data is notoriously volatile, but the trend rate of growth for residential building has declined since the beginning of the year. "Canada's housing market is entering a sustained downturn, in our view," Wolf said. "It does look like Canadian houses finally got too expensive, and builders too aggressive, for the underlying demand environment." He estimated that markets with the strongest price growth in recent years, such as Regina, Saskatoon, Vancouver, Victoria, Calgary, Edmonton, Sudbury, Ont., and Montreal, were all more than 10 per cent overvalued. On a national basis, Wolf predicts house price growth to remain flat. Merrill Lynch expects commodity prices to moderate over the medium term, a scenario that would aid in the housing market downturn but not cause an outright bust. Others, such as the CIBC, have a more bullish forecast for commodities, namely oil, expecting prices to continue to rise. This would continue to support Canada's terms of trade by bringing in higher export revenue relative to the amount spent on imports. But Wolf said the risk of a housing crash would become "a serious threat" if the recent correction in commodities continued because it could cause the terms of trade to deteriorate. The price of light crude has fallen about 18 per cent since peaking at a record high of $147.27 U.S. a barrel on July 11. Light crude for September delivery settled at $120.02 U.S. a barrel in New York yesterday. "The takeoff in commodity prices since 2002 has driven an enormous improvement in Canada's terms of trade, accounting for much of the strong growth in Canadian national income that has, in turn, provided the fundamental underpinning for the housing market boom," Wolf said. A Bank of Canada working paper by senior analyst Hajime Tomura earlier this year argued that a decline in the terms of trade would likely cause house prices to fall. It said "if households are uncertain about the duration of an improvement in the terms of trade, then house prices will abruptly drop when the terms of trade stop improving."
  18. La banque d'affaires américaine Merrill Lynch, confrontée à l'impérieuse nécessité de lever de nouveaux fonds, a décidé de vendre ses parts dans l'agence financière Bloomberg LP. Pour en lire plus...
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