The impact of the high-flying loonie, which broke above parity with the U.S. greenback on Friday, is expected to make its mark on Canadaâ€™s trade figures this coming Wednesday.
The value of Canadian building permits issued in September soared 15.3 percent from August, well above market expectations, on both residential and nonresidential building intentions, Statistics Canada data showed on Friday.
Vancouver has been â€œbumpedâ€ from its spot as Canadaâ€™s top real estate market, but that does not mean it is in a slump.
Greater Vancouver home sales have remained steady over the past four months, indicating stability in the residential housing market. With the MLS® sales to active listing inventory ratio indicating a buyersâ€™ market, properties appropriately priced are selling.
It is no secret that Bank of Canada governor Mark Carney is concerned about a potential decline in home prices. However, cycles of declining home prices are far from unusual in Canada.
B.C.â€™s economic growth will slow during 2011 in sync with the global economic slowdown, the winding down of fiscal stimulus, and a weaker comparison to the 2010 Winter Olympic boost.
House prices well above peak
In a sign of downtown development roaring back to life, B.C.â€™s wealthiest businessman announced Tuesday plans for a half-billion-dollar development at the city entrance on Burrard.
The push for rapid transit to the University of B.C. is heating up, with the Alma Mater Society urging Metro Vancouver to make the issue an â€œurgent priority.â€
Society president Bijan Ahmadian has sent a letter to the regional district saying rapid transit to UBC should be considered as â€œequally urgentâ€ as that for south of Fraser communities in Metro Vancouverâ€™s draft regional growth strategy.
When interest rates rise, 10 per cent of Canadian households could be in financial trouble, according to a TD Economics study.