CTV National News: More Canadians choosing Canada first when making vacation plans
A new study finds more Canadians are choosing to stay in Canada for vacation amid trade tensions with the U.S. Paul Hollingsworth has more.
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CTV News
4 minutes ago
- CTV News
‘We're a little bit more unique': CMHC predicts housing dip, but Windsor-Essex staying resilient
Take a look at Windsor's updated housing outlook for July. CTV Windsor's Ricardo Veneza has more. Take a look at Windsor's updated housing outlook for July. CTV Windsor's Ricardo Veneza has more. The latest forecast for the housing market from the Canada Mortgage and Housing Corporation (CMHC), particularly for Ontario, is a dour one — but Windsor-Essex seems to be somewhat of an outlier. On Thursday, the CMHC released its 2025 Housing Market Outlook summer update forecasting price drops of 2 per cent across the country and expecting even larger drops in Ontario and B.C. 'Vancouver and Toronto seem to always skew some of our statistics,' said Julianna Biondo, president of the Windsor-Essex County Association of Realtors (WECAR). 'I'm not saying that Windsor is immune to any of that for sure but, definitely we're a little bit more unique and niche in our market.' The report points to its new scenario based on Canada-U.S. trade tariff information as of June 26 and predicts tariffs will peak in the second half of the year. That will continue to impact the Canadian economy, producing a mild recession, and contributing to three key factors leading to the housing market slowdown: price pressures, lower demand, and uncertainty. 'I haven't experienced any get out of dodge, you know, everybody [saying] 'Oh, my gosh the sky is falling' I haven't experienced that. But I think there is some hesitancy,' said Biondo. 'We do have a drop in sales for sure.' Windsor is taking the brunt of the trade war, evidenced by Statistics Canada's June jobs report putting the city firmly at the top of the unemployment pile with a jobless rate of 11.2 per cent. But it seems the real estate market in Windsor-Essex is proving resilient — at least in the more competitive sub-$600,000 price bracket where most homes are bought and sold. 'Buyers are just being a little bit more choosy,' said Biondo. 'They're being a little bit more particular and they're getting the opportunity to get their conditions met, which is wonderful. And that is a key element to having a stable environment for a market.' WECAR's June report showed an increase in the average sale price of 2.97 per cent even as home sales dipped again 5.23 per cent and new listings climbed by 11.86 per cent. The CMHC forecast indicates an expected recovery in 2026, even as unemployment is expected to continue to climb come the fall of 2025 and inflation is predicted to crest 3 per cent by mid-2026 due to the trade environment and connected geopolitical events. Come next year, Biondo expects that will mean steadier price increases in the Windsor-Essex market as the broader real estate landscape recovers from a tariff-induced downturn. 'We're still very much in a seller's market in this area,' said Biondo of the sub-$600,000 category. 'Let's let this trade war play out. Everybody knows that this will come to terms at some point.' The other drag on the market, according to the report, is the sluggish home construction much of the country is seeing, particularly in Ontario and British Columbia, where starts are predicted to see even further declines. In those provinces, CMHC points to high housing prices, rising construction costs, and lower investor confidence as factors weighing down the sector with some developers delaying or cancelling projects and missing presale targets as unsold inventory rises — all challenges expected to persist for the rest of 2025.
CBC
34 minutes ago
- CBC
Sask. tech companies look to EU for growth amid US tariffs
Federal figures suggest Canadian companies are looking to Europe in larger numbers to reduce their reliance on markets and investment in the United States. In April, 245 Canadian startups showcased their products at the Hannover Messe trade fair in Germany. Saskatchewan Premier Scott Moe also attended the trade show, with hopes of promoting Canadian exports. Aaron Genest, president of Sask Tech and a manager at Siemens Digital Industries, says that trade with the United States is unlikely to change much, but most new market expansion is coming from Europe. "We have a very small tech industry, but we have a lot of tech-enabled industries in Saskatchewan in mining and in agriculture, for instance," said Genest. "Those companies are seeing lots of opportunities in the EU." As for the stock market, the Toronto Stock Exchange (TSX) reached a record high on Friday, with technology shares leading the gains. A deadline of Aug. 1 on a Canada-US trade deal continues to loom however, and could be the cause of so many companies turning attention to overseas growth. Though outcomes are still uncertain, Trump said Friday that his country may not reach a new trade deal with Canada. Genest says that the Federal and Provincial governments are doing a lot to create buzz for Canadian exports to Europe, and it gives businesses more opportunity. "There are artificial logistics that could be put in place that would change that equation, and we're seeing that with the Trump government," said Genest. "They've been clearly making it harder to move things. At some point those artificial barriers overcome the geographical convenience." CEO and Founder of Saskatoon's River City Innovations Jeff Shirley produces industrial electronic temperature sensors for foreign and domestic markets. He says that he still does business with the US, but in the past two years, he's tripled his business in the Middle East. With his business having presence in Spain and France as well, Shirley says Canadian companies have developed a reputation of quality and reliability. "We found the local market here in Canada to be very challenging right now," said Shirley. Last week, Scott Moe called on all provinces and territories to join Canada's largest barrier-free interprovincial market through the New West Partnership Trade Agreement. Originally created in 2010, the agreement has lower procurement thresholds and fewer exemptions than the Canadian Free Trade Agreement.
Globe and Mail
an hour ago
- Globe and Mail
Truist Financial Keeps Their Hold Rating on First Financial Bancorp (FFBC)
Truist Financial analyst Brian Foran maintained a Hold rating on First Financial Bancorp today. The company's shares closed yesterday at $23.84. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Foran covers the Financial sector, focusing on stocks such as Comerica, Huntington Bancshares, and Ally Financial. According to TipRanks, Foran has an average return of 8.6% and a 76.32% success rate on recommended stocks. Currently, the analyst consensus on First Financial Bancorp is a Hold with an average price target of $29.50, which is a 23.74% upside from current levels. In a report released today, KBW also maintained a Hold rating on the stock with a $32.00 price target. FFBC market cap is currently $2.28B and has a P/E ratio of 10.12. Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FFBC in relation to earlier this year. Most recently, in May 2025, Dawn Morris, a Director at FFBC sold 787.00 shares for a total of $19,006.05.
