Daniel Tencer
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Canadian Food Prices Are Seeing A Complete Turnaround

(14) Comments | Posted July 22, 2016 | 12:42 PM

What a difference a few months makes. After suffering through the shock of rapidly rising food prices earlier this year, due to a tumbling loonie, Canadians are now seeing stable and even falling prices at the checkout line.

Statistics Canada's latest consumer price index shows food costs fell 0.3 per...

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London Apartment On Sale For $260 Million, So Where's That Brexit Crash?

(2) Comments | Posted July 21, 2016 | 2:06 PM

Many experts say Britain’s vote to leave the European Union will lead to a property crash in London. A report from Societe Generale this week predicted a 30-per-cent slump in the city’s house prices.

But if there’s a crash coming to London, it's nowhere to be seen —...

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Ontario Electricity Prices Are Out Of Control

(184) Comments | Posted July 21, 2016 | 9:08 AM

Ontarians aren’t just imagining it: Electricity prices in the province are soaring.

Prices jumped by 15.7 per cent over the past year, according to Statistics Canada’s consumer price index, about eight times faster than overall inflation.

Bank of Montreal chief economist Doug Porter published this chart showing...

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Even Many Boomers Agree Millennials Have It Tougher: Poll

(5) Comments | Posted July 20, 2016 | 12:58 PM

A majority of Canadians, including Baby Boomers, agree that today’s young people have a harder time starting out in life than previous generations did, according to a new poll from the Angus Reid Institute.

Fifty-three per cent of respondents said millennials have it “harder than past generations,” while...

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Canadian Dollar Passes Major Milestone, Raising Hopes For A Rebound

(43) Comments | Posted July 20, 2016 | 8:51 AM

Don’t look now, but the worst may be over for the long-struggling Canadian dollar.

Bank of Montreal chief economist Doug Porter points out in a new client note that, for the first time in more than three years, the loonie has been trading higher than it was a year earlier.

...
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Parents' Basements ‘Getting Crowded' As Millennial Jobs Decline

(33) Comments | Posted July 19, 2016 | 3:09 PM

Bank of Canada governor Stephen Poloz took a lot of heat for suggesting in late 2014 that millennials stuck living in their parents’ basements should consider working for free.

Poloz was trying to drive home the size of the youth unemployment problem that Canada developed during the last...

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New Star Trek Show Will Be Streamed On Netflix, Just Not In Canada

(16) Comments | Posted July 19, 2016 | 12:22 PM

CBS’s new “Star Trek” TV show begins filming in Toronto this fall, but Canada will be among the few countries where the show won't be available on Netflix.

If Canadians want to see new episodes of Star Trek at air time (legally), they will need cable TV, and a subscription...

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‘Oasis Of Stability' Canada Has The World's Best Debt

(182) Comments | Posted July 19, 2016 | 8:35 AM

As Prime Minister Justin Trudeau embarks on a program of debt-fuelled stimulus spending, he should have little trouble finding lenders around the world to pony up the dough.

In fact, in the first five months of this year, foreign investors bought a record $61.6 billion in Canadian government debt, according...

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Canada In Trade Talks With UK, But Doesn't Want To Talk About It

(2) Comments | Posted July 18, 2016 | 1:40 PM

Some of Britain's Commonwealth partners are riding to the country's economic rescue following the Brexit vote, and Canada is among them, although perhaps half-heartedly.

A British cabinet minister told media this past weekend that Canada and the U.K. have opened talks on a free trade deal.

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Alberta Recession Is Its Worst In Modern History, TD Bank Says

(161) Comments | Posted July 18, 2016 | 12:31 PM

The recession in Alberta will be its worst in at least three decades and will be among its longest as well, economists at TD Bank said in a new report.

The bank recently downgraded its forecast for the province, following the devastating wildfires in the Fort McMurray area in May....

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Canadian Real Estate Could Still Get Way More Expensive, Data Shows

(76) Comments | Posted July 16, 2016 | 12:03 PM

As house prices rise at what the Bank of Canada calls a “fire-breathing” pace, Canadians are growing increasingly worried about home affordability, particularly in the Toronto and Vancouver areas.

But here’s a sobering thought, courtesy a new report from National Bank Financial: Affordability could be worse. Way, way...

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‘Your Home Made More Than You Did Last Year'

(23) Comments | Posted July 15, 2016 | 2:02 PM

The average house price in Canada reached $503,301 in June, an increase of 11.2 per cent in the past year, the Canadian Real Estate Association (CREA) reported Friday.

That amounts to a $50,610 increase in the average house price in a year, which, as Bank of Montreal chief economist Douglas...

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Air Travel Costs In Canada Among Highest In World

(11) Comments | Posted July 14, 2016 | 4:48 PM

When it comes to country comparisons, Canada often comes out near the top, but there’s one where the Great White North is right near the bottom: The cost of air travel.

Canada places 124th out of 141 countries ranked by the World Economic Forum on the “cost competitiveness”...

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'Secret Tax Crackdown' Coming To B.C. Real Estate: Report

(41) Comments | Posted July 14, 2016 | 1:45 PM

The Canada Revenue Agency (CRA) is planning a crackdown on real estate-related tax cheating in Vancouver, according to a report in a Hong Kong newspaper.

The move could put a damper on the city's frenzied real estate market, where many have attributed double-digit house price growth to an influx of...

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Making Under $20 An Hour? Watch Out For The Rise Of The Machines

(16) Comments | Posted July 13, 2016 | 3:00 PM

A senior economic adviser to U.S. President Barack Obama has issued a warning to lower-wage earners: You risk losing your job to a machine.

“Technological advances in recent decades have brought tremendous benefits but have also contributed to increasing inequality and falling [workforce] participation,” said Jason Furman, chairman of the...

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Rising China, Falling Oil End Canada's Reign As Top U.S. Trade Partner

(39) Comments | Posted July 13, 2016 | 1:51 PM

Little more than a year ago, Canada was the U.S.’s largest trading partner, a reality that had lasted for decades.

But that era of history ended last fall with the news that China’s trade relationship with the U.S. had overtaken Canada’s. And the new era of being number...

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Ireland's Economy Is Booming Beyond Belief Thanks To Tax Avoidance

(13) Comments | Posted July 12, 2016 | 5:08 PM

Want to grow your economy? Turn your country into a tax haven.

According its Central Statistics Office, Ireland’s economy grew by 26.3 per cent last year — likely the strongest growth seen in a developed country, well, ever.

By comparison, China — at its the peak of its...

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‘Permanent Damage' To Job Prospects As Canada Shifts To Low-Wage Hiring

(137) Comments | Posted July 12, 2016 | 2:25 PM

The latest numbers from Statistics Canada show a job market that’s treading water: there was virtually no change in the number of jobs in June.

But that’s not actually what happened. In reality, Canada lost an enormous amount of higher-paid manufacturing and resource jobs, and replaced them with an almost...

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U.S. Stocks Hit All-Time Highs, Which Might Be The 'Mother Of All Buy Signals'

(20) Comments | Posted July 12, 2016 | 12:07 PM

Some analysts have been fretting for ages that stocks are overvalued and due for a correction. Just don’t tell that to U.S. markets, which are defying the global economic doom and gloom and hitting record highs this week.

The Dow Jones Industrial Average hit a record 18,353 on...

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Canada's Best Cities For Jobs AND Affordable Homes

(24) Comments | Posted July 12, 2016 | 8:44 AM

You’ve likely seen rankings of the best cities in Canada to find a job, and rankings of the most affordable housing markets around.

The problem is, they're not the same places. Toronto and Vancouver are creating tons of jobs, but are now seriously...

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