A new analysis warns that Canada’s major cities are struggling to keep their transit systems running, and says public transit is heading for a “downward spiral” unless major new streams of operating revenue open up. In a report published in late May, Leading Mobility Canada said the $120-billion in expansions planned for those transit systems…
Despite recent interest rate cuts, the Canadian real estate market remained slow this summer. This has prompted some in the industry to call for an end to the stress test – a tool that determines whether a person can qualify for a mortgage. But would it be a good idea? Christopher Alexander, president of Re/Max…
U.S. Vice-President Kamala Harris is set to make her first major economic policy speech as the Democratic nominee for president Friday, with an expected focus on lowering prices for consumers. The expected plan for the speech in North Carolina reflects a recognition that the economy remains top of mind for voters heading into November’s election…
The start of interest rate cuts from the Bank of Canada has done little to stoke a fire in the Canadian housing market, fresh data from July shows. The Canadian Real Estate Association (CREA) said Thursday that home sales retreated by 0.7 per cent month to month in July, giving back some of the jump…
Canadians are managing to keep up with their mortgage payments in the face of higher interest rates, but a new Statistics Canada analysis suggests there are cracks forming on other kinds of debt. The agency released a report Wednesday tracking how debt levels changed from pre-COVID-19, through the pandemic and into the ensuing economic rebound,…
Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday’s report from the Labor Department showed that consumer prices rose just 0.2 per cent from…
Many Canadians today are feeling the pinch and reining in their spending, waiting out harsh economic winds in a pattern of behaviour typical of major recessions and financial crashes in history. The difference this time around? Canada’s not (technically) in a recession. Economists typically define a recession as two consecutive quarters of negative growth in…
Some Canadians looking to break into the housing market are now able to get 30-year mortgages, a bid from the Liberal government to make owning a home feel more affordable. Experts who spoke to Global News say that while some homebuyers are likely to see their borrowing power increase because of the new regime, the…
Descrease article font size Increase article font size Canada’s unemployment rate held firm at 6.4 per cent in July amid a relatively steady month in the labour market. Statistics Canada said Friday that total employment was “little changed” last month. Some 2,800 jobs were lost in July, the agency said. That marks the second consecutive…
Canada’s major stock index rebounded somewhat from sharp losses Tuesday, catching up to other equity markets around the world in what many analysts are labeling a bout of volatility. The S&P/TSX fell 542 points to start trading on Tuesday, a decline of 2.44 per cent, bringing Canada’s benchmark index to its lowest levels in a…
