Jesse Ferreras
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Jesse Ferreras is associate news editor of trends and traffic for The Huffington Post Canada. He was previously an online editor at canada.com and the Pique Newsmagazine in Whistler.

Entries by Jesse Ferreras

Canada's Rich Population Dropped Like It Did In Few Other Countries Last Year

(96) Comments | Posted June 23, 2016 | 7:45 PM

Last year, rich people in Canada were like ...

And Canadians were like ...

The 2016 World Wealth Report, a study looking at the world's population of rich people and how much money they have, shows that Canada lost as...

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Oilsands Production Is Likely To Grow In The Next 14 Years, Say These People

(21) Comments | Posted June 23, 2016 | 5:25 PM

Oil analysts expect Canadian crude oil supply to jump by one million barrels per day in the next 14 years — even as prices remain near the lowest they've been in two years.

The Canadian Association of Petroleum Producers (CAPP) released a report Thursday in which it projects...

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Donald Trump And Hillary Clinton's Free Trade Talk Shouldn't Worry Canada Much. Here's Why.

(2) Comments | Posted June 23, 2016 | 8:25 AM

Donald Trump likes to talk a lot of trash about trade agreements that involve Canada.

In a "60 Minutes" interview last year, he called the North American Free Trade Agreement (NAFTA) a disaster, and said he would renegotiate it.

donald trump

But when it comes to...

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Canada's Worst Home Affordability Ever Was Just Recorded You-Know-Where

(5) Comments | Posted June 22, 2016 | 2:06 PM

Rapidly rising house prices could hurt Canada's standard of living, says a new study that comes on the heels of an RBC report showing home affordability worsening once again.

No one can sum up the current situation better than Comic Book Guy from "The Simpsons."

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Toronto Real Estate Sees Fewer Low-Rise Homes For Sale Than Ever: BILD

(7) Comments | Posted June 22, 2016 | 8:18 AM

Gone are the days when you could find a bounty of low-rise homes on the Toronto real estate market.

They were here only 10 years ago, when there were 16,420 for sale. But those days are gone, supplanted by an era in which there were only 1,985 available in the...

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Toronto Library's Internet Lending Program Only Has Enough Data To Check Email

(7) Comments | Posted June 21, 2016 | 5:54 PM

Public libraries in New York and Chicago allow low-income people to borrow digital devices that provide access to unlimited Internet.

But in Toronto? They're only given enough data to send emails ... and not do much else.

The Toronto Public Library (TPL) has partnered with Google Canada on a...

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Vancouver Home Prices Were Hotter Back When Billy Joel Was No. 1

(3) Comments | Posted June 21, 2016 | 12:48 PM

It was the late 1980s.

The Berlin Wall was falling, Chinese students were rising up against their government, and Billy Joel was churning out number one hits like "We Didn't Start the Fire."

And in Vancouver, then a smaller city with only a fraction of the populace it has today, home prices were skyrocketing, at a higher rate than they would over two decades later.

BMO released a chart Monday showing that rising house prices are nothing new in the West Coast city.

vancouver average sale price

It shows that prices saw a massive spike in the late 1980s, only to plummet years later — dwarfing any increases that happened in recent years.

"So much has been written about Vancouver's zany house prices that one might think the current situation is unprecedented," economist Sal Guatieri wrote.

"But a longer term lens shows the city is no stranger to outlandish price increases that are usually followed by short-term corrections."

vancouver real estate
Condos along Vancouver's waterfront. (Photo: Getty Images)

Guatieri said prices tend to escalate when demand for housing comes up against a low supply level.

It's a common contention that economists have made in response to continuing price escalation.

He went on to say that housing market corrections haven't had long-lasting impacts historically, but "if speculation is padding demand today and results in overbuilding, then a correction could be more painful than in the past."

"The city is no stranger to outlandish price increases that are usually followed by short-term corrections."

When a correction happens is anyone's guess — even as concerns mount that one is coming.

TD Economics issued an economic forecast last week saying it's unlikely that will happen until next year at least.

Supply may be the culprit on housing prices, but people watching Vancouver's real estate market have increasingly drawn links between inflows of foreign capital and rising property values.

South China Morning Post reporter Ian Young has repeatedly addressed the issue in columns and stories such as one about a downtown property that was sold for $60 million one month, and then flipped to a wealthy Chinese immigrant for $68 million just a month later.

A study last year also showed that most homes on Vancouver's west side, an upscale area, were owned by people with non-anglicized Chinese names, which suggested to the author that they were recent arrivals to Canada.

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Canada's 'Housing Bubble' Is 'Going To End In Tears': Capital Economics

(59) Comments | Posted June 20, 2016 | 9:00 PM

Looking for someone to blame for skyrocketing housing prices across Canada? Take a look in the mirror.

That is basically what research firm Capital Economics advised in a new report that puts the blame for rising real estate squarely on Canadians — their debt, and their banks.

"The...

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Canada's Underground Economy Is More Stable Than Many Sectors: StatsCan

(4) Comments | Posted June 20, 2016 | 4:12 PM

Oil is in flux. Manufacturing has slumped. And real estate markets in Toronto and Vancouver can't seem to stop their upward trajectory.

But there's one segment of Canada's economy you can count on to stay exactly the same: the black market.

Statistics Canada released a report Monday showing that

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Olli, The Self-Driving Car, Has IBM's Watson For A Brain

(0) Comments | Posted June 17, 2016 | 9:39 PM

It's been five years since IBM supercomputer Watson won "Jeopardy!"

So it was only a matter of time before it started taking over the world. First stop? The roads.

Watson, a computer system that can process and structure data, is a key component of Olli, a self-driving vehicle...

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Vancouver, Toronto Real Estate Could Cool Down Next Year: TD

(10) Comments | Posted June 17, 2016 | 6:06 PM

Mark your calendar, because a major bank has set a date for Vancouver and Toronto real estate to cool off, if only a little bit.

TD Economics issued its quarterly economic forecast on Thursday, and it has some promising news for anyone who hopes to see housing simmer...

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Senate Trade Barriers List Sees Canada's Red Chamber Go Full Listicle

(2) Comments | Posted June 14, 2016 | 8:33 PM

Say this for the Canadian government: it knows how to keep up with the times.

Two years ago, Foreign Affairs Canada used BuzzFeed lists to criticize its enemies and promote its interests.

Now, a Senate committee on trade and commerce has made a clever list of Canada's

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Suncor Fort McMurray Fire Losses Are Bigger Than Anyone Thought

(32) Comments | Posted June 14, 2016 | 4:19 PM

It wasn't long ago that $1 billion was estimated as the total cost of lost oilsands production from the Fort McMurray wildfire.

Now, it appears, that's just the cost to one of its biggest producers.

Two unnamed sources told Reuters on Tuesday that Suncor Energy Inc. is set...

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Canadian Telecoms Need Foreign Competition To Lower Prices: OECD

(6) Comments | Posted June 14, 2016 | 8:31 AM

Add the Organization for Economic Co-operation and Development (OECD) to the growing list of parties who want foreign investment in Canadian telecommunications.

In its 2016 Economic Survey of Canada, released Monday, the OECD makes a case for foreign entry into the Great White North's telecom market, saying it...

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Canadian Banks Raise Fees As They Rake In Billions

(117) Comments | Posted June 14, 2016 | 8:19 AM

"We're richer than you think."

Canadian banks might as well all adopt this variation on Scotiabank's slogan as they rake in billions of dollars in profit — even as they raise fees on their customers.

Major financial institutions including Scotiabank, CIBC and TD Bank are raising various charges...

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Don't Wait On Public Opinion To Ban Pit Bulls

(435) Comments | Posted June 13, 2016 | 4:28 PM

Death is not enough to convince people to ban pit bulls.

That much is clear from the latest horrifying incident that saw Quebec woman Christiane Vadnais mauled (not bitten) to death in a backyard in Montreal's Pointe-aux-Trembles area last Wednesday.

The dog had previously attacked a man at...

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$100 Oil? Some Investors Are Betting On It

(40) Comments | Posted June 11, 2016 | 12:46 PM

For months, analysts have been saying there's little chance of oil ever reaching $100 per barrel again.

But that outlook isn't shared by those investors who are making big bets on oil soaring once more, Bloomberg reported Friday.

Investors have been buying options deals that bet on the...

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Twitter Password Sale Has Site Putting Accounts In Lockdown

(2) Comments | Posted June 10, 2016 | 2:14 PM

Twitter has taken swift action to protect users' accounts after millions of passwords were put up for sale online.

More than 32 million records were offered for the price of 10 Bitcoin (C$7,380) on the dark web this week, Forbes reported.

Twitter has responded by locking down a...

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Apple Store Thief Dresses Like Staffer To Lift $16K In iPhones

(2) Comments | Posted June 9, 2016 | 9:26 PM

Talk about a trick that even the "Genius Bar" couldn't think up.

An Apple Store in the New York City neighbourhood of SoHo is out over US$16,000 in iPhones after a thief dressed like a staffer and took them right out of a drawer, Dnainfo reported Wednesday.

The...

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Apple Apps To See Push For Subscription Service, Reports Say

(31) Comments | Posted June 9, 2016 | 8:44 PM

Why charge a customer once when you can do it multiple times?

It's a question that Apple is grappling with as it looks to make up for slowing iPhone sales.

The tech giant is set to introduce a new model for apps that encourages developers to make

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