Canada is selling its former Manhattan residence, which used to house its consulate general in New York. The 12-room, five-bedroom apartment located on Park Avenue was listed Thursday at over $13 million, which is expected to exceed the purchase of its new $9-million Manhattan condo located on Billionaires’ Row. Global Affairs Canada said the new … Read more
Year-over-year inflation in the United States 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 U.S. Department of Labor showed that consumer prices rose just … Read more
The 30-year amortized mortgages announced in the 2024 federal budget are kicking in on Thursday. First-time homebuyers who are purchasing newly built homes can now qualify for a 30-year mortgage, giving them five additional years to pay off an insured mortgage. For other mortgages where default insurance is required, a 25-year amortization limit is still … Read more
Real estate activity across Canada in June showed a drop in both sales and housing prices compared to June 2023, says the Canadian Real Estate Association, though sales perked up a bit compared to May 2024. According to the latest numbers from CREA, home sales activity as registered in the Canadian Multiple Listing Service (MLS) went up … Read more
Anna Smith would like to start a family. But she would also like more space for a baby, as the 27-year-old and her partner currently live in a 500-square-foot apartment in Toronto’s east end for $1,550 per month. Like many Canadians in their 20s and 30s, she says she’s realizing she can’t have both. So Smith, a University of … Read more
For months, the Bank of Canada has been trying to thread a needle: slow the economy just enough to get inflation back under control but not so much that it causes a recession. In a report released this week, the central bank offered up plenty of evidence that its strategy is working. Inflation has eased, economic growth has … Read more
The annual rate of new home construction was up in May, while home sales were slightly down, according to data released separately on Monday by the Canada Mortgage and Housing Corporation and the Canadian Real Estate Association. Referred to as housing starts, new home construction was up 10 per cent in May compared to the previous … Read more
A U.S. bankruptcy judge on Thursday approved WeWork’s Chapter 11 bankruptcy plan, allowing the shared office space provider to eliminate $4 billion in debt and hand the company’s equity over to a group of lenders and real estate technology company Yardi Systems. Flexible workspace provider WeWork expanded at breakneck speed, opening its first location in … Read more
Canada’s Competition Bureau has launched investigations into the parent companies of grocery chains Loblaws and Sobeys for alleged anti-competitive conduct, court documents reveal, with Sobeys’ owner calling the inquiry “unlawful.” The Federal Court documents show the commissioner of competition launched the probes on March 1, saying there’s reason to believe the firms’ use of so-called property … Read more
Canada’s Competition Bureau has launched investigations into the parent companies of grocery chains Loblaws and Sobeys for alleged anti-competitive conduct, court documents reveal, with Sobeys’ owner calling the inquiry “unlawful.” The Federal Court documents show the commissioner of competition launched the probes on March 1, saying there’s reason to believe the firms’ use of so-called … Read more
