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5 days ago
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Posthaste: Factors beyond your control may be stalling your home sale
Canadian homeowners dealing with a stalled housing market may find there are several factors beyond their control that can make their properties less appealing, according to a recent survey by Re/Max Canada. For example, the condition of neighbouring properties and the neighbourhood in general can make or break a sale for many of those looking to enter the housing market. The survey also said 41 per cent of homebuyers cited a lack of curb appeal as an impediment, while 40 per cent said rooms being smaller than they appear in the pictures turned them off. Too much competition and being too close to bars and restaurants were cited by 36 per cent and 28 per cent, respectively. 'While the home is the ultimate goal for buyers, the neighbouring properties and surrounding community often say a lot about what life might be like there for you as a resident,' Don Kottick, president of Re/Max Canada, said in a news release. 'Not all homebuyers are able or willing to see past a rough exterior to find properties with potential, and something like an unkempt streetscape could be their sign to keep on walking.' On top of those issues, homeowners in some of Canada's biggest cities are dealing with a stalled market due to economic uncertainty and elevated interest rates. In Vancouver, the average home price declined three per cent year over year in July to about $1.24 million, while prices fell 5.5 per cent in Toronto to about $1.05 million. In Calgary, home sales fell 11.6 per cent as inventory climbed to levels not seen since the pandemic. The Canadian market isn't in a complete hole, as sales climbed in both Montreal and Ottawa. But there are some factors that homeowners can easily fix to make their properties more attractive, according to the Re/Max survey. For example, cluttered or messy homes during a showing were a turnoff for 27 per cent of prospective homebuyers, while 18 per cent cited unhelpful real estate agents and 11 per cent cited sellers being present during a showing. Re/Max Canada suggests homeowners can also make their home more appealing by tidying up the landscaping, giving the home a fresh coat of paint and adding some greenery to the space. 'Buyers have more inventory to choose from and more time to shop, make decisions and see what else is out there,' Kottick said. 'When we talk about sellers adapting to current conditions, we're not just referring to price adjustment. Sellers should be mindful of every detail of their property, including the ones that they can't control — like the neighbour's front lawn.' to get Posthaste delivered straight to your inbox. China has implemented more levies against Canadian canola oil as the Asian country ups its trade spat with Canada. On Aug. 14, China plans to impose a 75.8 tariff on the commodity after a ruling that Canada's canola supply and demand were distorted due to government subsidies. China imported 6.39 tonnes of canola last year, primarily from Canada. Read more here. 1:30 p.m.: Bank of Canada to release the summary of its deliberations for its interest rate hold on July 30 Earnings: Metro Inc., Linamar Corp., Cisco Systems Inc., Stantec Inc., Equinox Gold Corp., Madison Square Garden Entertainment Corp. Trump hiked Canada's tariff rate to 35%, but just who's paying it remains a mystery CIBC rings in executive changes as it gets ready for a new CEO Canada could be trade winner as U.S. tariffs undershoot global competitors by wide margin, says report The great wealth transfer requires more than a 20-year-old will and naming a few beneficiaries Going on vacation can be expensive, but there are ways to make that getaway a little more affordable. Planning meals ahead of time, freezing meals when possible, non-perishable foods and using a refillable water bottle can all help keep costs down. Read more here. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). McLister on mortgages Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Financial Post on YouTube Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Ben Cousins with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@
Yahoo
11-06-2025
- Business
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Posthaste: Canada's work-life balance standing slips globally
Canada has slipped in a worldwide ranking of work-life balance, but still remains well ahead of its southern neighbour. The country ranks seventh on Remote Technology Inc.'s Global Life-Work Balance Index 2025, falling from fifth last year, but is still the only country in the Americas to crack the top 10. Canada's score increased compared to last year, meaning its drop in the rankings is a result of other countries improving. The country scored highly for its statutory sick pay, universal health care and support for LGBTQ+ inclusivity. 'Canadian workplaces tend to value punctuality and dependability, but employees typically maintain a healthy separation between work and family life,' the report said. New Zealand landed in the top spot for the third year in a row, with an index score of 86.87, in part due to a strong minimum wage, happy workers and statutory sick pay. 'Why is New Zealand so life-work-balance-friendly? Well, it helps to be surrounded by such diverse, breathtaking scenery, but while the country doesn't rank at No. 1 for every factor we assessed, it scores consistently well across the study,' the report said. New Zealand and Ireland (81.17) are the only two countries to score above 80 on the ranking; Belgium (75.91), Germany (74.65) and Norway (74.2) rounded out the top five, while Canada's score was 73.46. At the other end of the spectrum, the United States (31.17) ranked 59th of the 60 countries in the report, above only Nigeria (26.67). Still, the report said the U.S.'s low rank can provide opportunity for employers looking to attract talent. 'Statutory provisions for annual leave, sick leave, social security and health care are comparatively low in the U.S.,' the report said. 'That means employers who can provide these benefits as part of an employee-focused (system) will find great success when attracting and retaining top-quality U.S. candidates.' While Canada ranks high globally when it comes to work-life balance, there is certainly some room for improvement. Work has interfered with 32 per cent of Canadians' home and family life, according to a 2024 report by Statistics Canada. The agency also said 33 per cent of Canadians are unable to complete personal tasks at home due to their work commitments. to get Posthaste delivered straight to your road trips to the U.S. from Canada have fallen for the fifth straight month as Canadians look to stay local amid a trade war. Return trips by vehicle among Canadians fell 38.1 per cent in compared to a year ago. More than 2.5 million fewer cars have crossed the border since January compared to the first five months of 2024. Canadians made up more than 25 per cent of visitors to the U.S. last year, but many Canadians are looking to fight back against protectionist U.S. trade policies this year. Read more. Conference of Montreal Day 3 Today's data: Canadian building permits for April, U.S. consumer price index for May Today's earnings: Oracle Corp., Chewy Inc., Victoria's Secret & Co., Dollarama Inc. Canadian businesses trading with U.S. look to 'pivot' as profits decline and expenses rise Bye bye, Beer Stores: Retailer lists 10 additional locations that will close in August Lockheed jet deal to cost Canada more than $27 billion, auditor says Smucker says tariff-fuelled price hikes will weigh on profit For those looking to retire in the next few years and use profits from a home downsizing as a nest egg, be prepared for disappointment when it comes to the exact size of that nest egg. As Jason Heath puts it, Canada's real estate is under pressure and may be for some time, meaning anyone banking on profits from a sale should temper expectations. Read more here. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Ben Cousins with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Canada's unemployment rate could reach 7.5% on still strong immigration Canadian businesses showing signs of strain not seen since 2009
Yahoo
30-05-2025
- Business
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Posthaste: U.S.-Canada trade war getting in the way of RESP contributions
The Canada-United States trade war is affecting anxious Canadian parents' ability to save for their children's education, according to a new study by registered education savings plan (RESP) provider Embark Student Corp. Almost two-thirds of parents are concerned about trade tensions and nearly half said it has impacted their ability to save for their child's education, according to the survey of 1,000 parents with children under the age of five. And 60 per cent said it has changed how they approach savings and 55 per cent said it has impacted their investment strategies. These tariff anxieties are only adding to the mounting challenges facing new parents today, including a lack of sleep and the rising cost of education. Almost 80 per cent of parents said they are regularly woken up by their children, with 41 per cent indicating they are getting six or fewer hours of sleep per night and 37 per cent admitted to making financial decisions they regretted while being sleep-deprived. 'This survey shows that new parents are facing a perfect storm: a lack of sleep, everyday challenges of raising young children, rising costs, and now, trade tensions,' Andrew Lo, chief executive of Embark, said in a press release. The most common reason parents gave for not opening an RESP was not having enough money, followed by fear of their financial situation changing and worries about having to make regular contributions. Rising education costs have increased the challenge. Children born in 2024 are projected to pay 36 per cent more compared to today, according to Embark's estimates. However, 82 per cent still consider their child's education a top priority, ranking higher than the 77 per cent who said paying down debt and the 72 per cent who said saving for retirement were a top priority. A majority of the parents surveyed spend a lot of time thinking about how they'll pay for post-secondary education and wish they had more knowledge about saving and investing for it. Lo recommended shifting from a 'saving is impossible' to an 'every little bit counts' mindset to navigate economic uncertainty. 'It's easy to get discouraged by market volatility, but even contributing a little each month to your child's RESP can make a big difference over time,' he said. 'Government grants alone can match up to 20 per cent of your RESP contributions, delivering immediate value before factoring in compound growth and investment gains.' But the outlook is gloomy for many Canadian parents, with 67 per cent believing it's difficult to balance their family's current needs with their long-term financial goals and 21 per cent who think Canada-U.S. trade relations have permanently changed for the worse. to get Posthaste delivered straight to your U.S. economy shrank at the start of the year, restrained by weaker consumer spending and an even bigger impact from trade than initially reported. Gross domestic product decreased at a 0.2 per cent annualized pace in the first quarter, the second estimate from the Bureau of Economic Analysis showed Thursday. That compared with an initially reported 0.3 per cent decline. The economy's primary growth engine — consumer spending — advanced 1.2 per cent, down from an initial estimate of 1.8 per cent and the weakest pace in almost two years. Meantime, net exports subtracted nearly five percentage points from the GDP calculation, slightly more than the first projection and the largest on record. The slight upward revision in GDP reflected stronger business investment and a greater accumulation of inventories. Federal government spending wasn't as much of a drag as originally reported. — Bloomberg Today's Data: Canada real GDP for the first quarter, monthly real GDP for March, Ottawa's fiscal monitor for March, United States personal income and consumption for April, advance economic indicators report for April and University of Michigan consumer sentiment index for May Earnings: Lowe's Cos. Inc., Laurentian Bank of Canada, Canopy Growth Corp. Trump's move to block foreign students from Harvard sends shockwaves within Canadian circles David Rosenberg: Latest labour data shows Canadians are begging the Bank of Canada for renewed rate relief Noah Solomon: You can't always get what you want — the tariff rendition How spousal RRSPs can reduce taxes without getting you in trouble Summer often ushers in a more carefree financial attitude, but with lingering higher interest rates and the current geopolitical climate affecting household budgets, funds for summer fun might be limited, especially when also dealing with debt. When you are feeling financial strain, typical trips involving travel, lodging, and daily expenses might seem unrealistic. However, with careful planning and a focus on budget-friendly choices, a memorable summer without overspending is possible, writes Mary Castillo. Find out more. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Noella Ovid with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ How Canada and Mexico could grow trade amid U.S. tariff fallout 'Buy Canadian' boosts beauty business. Will tariffs end up reversing that?
Yahoo
27-05-2025
- Business
- Yahoo
Posthaste: Burning your mortgage is going the way of rotary phones and station wagons
The days of burning your mortgage as a rite of passage into your golden years appear to be slipping into the past along with rotary phones and station wagons. A new survey by real estate company Royal LePage suggests that millennials and gen Z are not the only generations struggling with housing affordability in Canada — seniors are carrying the burden well into retirement. Almost a third of Canadians who are planning to retire in the next two years will continue to make mortgage payments on their primary residence into retirement, the survey said. That's twice as many seniors carrying mortgage debt as a decade ago, and in 1999 the share was just eight per cent. Home prices in Canada soared to $827,100 in 2023 from $120,200 in 1990, according to the Canadian Real Estate Association, and these gains have been a 'double-edged sword' for older Canadians, Royal LePage chief executive Phil Soper said. 'On one hand, it has delivered unprecedented financial gains. On the other, this generation is far more likely to have carried mortgage balances that would have been unimaginable to their parents or grandparents,' he said. It's a trend that will likely continue as first-time homebuyers increasingly enter the housing market later in life. A Royal LePage study in 2023 said 43 per cent of first-time homebuyers were aged 35 and older, up from 33 per cent just two years earlier. In the pricey Ontario real estate market, the median age of a first-time homebuyer hit 40 in 2024, up from 36 a decade earlier, which Teranet said is 'a testament to the likely effects of the affordability challenges in the Ontario housing market.' Yet Royal LePage also said that a surprising number of older Canadians are not willing to downsize in retirement — nearly half, 47 per cent. Seniors in Manitoba and Saskatchewan, according to Royal LePage brokers, are more inclined to downsize, while more retirees in Quebec and Ontario opt to stay in their own homes. 'The benefits of entering retirement as a homeowner with a paid-off mortgage are clear: more disposable income, insulation from interest rate changes, and even the emotional security that comes from knowing you'll always have a place to live,' Soper said. 'In the era of rotary phones and station wagons, burning your mortgage was the economic finish line. Today's retiree reality is much more nuanced.' to get Posthaste delivered straight to your manufacturing isn't the American dream. President Donald Trump has made it clear he wants to bring factory jobs back to the United States, but this chart from TD Economics suggests the American people might be a bit more ambivalent. Most agree that there should be more people working in domestic manufacturing, but far fewer think it should be them. Trump might have a harder time than he thought convincing Americans that they need to pay higher prices to win back factory jobs. Today's Data: United States durable goods orders, Conference Board consumer confidence, S&P CoreLogic Case-Shiller home price index Earnings: Bank of Nova Scotia, Autozone Inc. How Trump's 'big beautiful bill' could become a big headache for corporate Canada and investors Many investors remain unaware of the scale of the unfolding bond crisis What you need to know about Canadian Tire, the retail giant that bought Hudson's Bay brands Canadian household wealth surged to a new collective high of $17.49 trillion at the end of 2024, and on average Canadians saw their net worth climb 5.77 per cent to reach $1,026,205, fuelled by strong financial asset gains. The Financial Post's Serah Louis breaks down the state of household wealth in Canada — and looks at the uncertainty that lies ahead. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ 'The fear is real,' says TD, predicting 100,000 jobs will be lost in looming recession Canada home prices are heading into correction territory
Yahoo
12-05-2025
- Business
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Posthaste: You might not have heard of this recession indicator — but it's getting louder
Here's a recession warning you might not have heard of — and it's getting louder. Oil prices have plunged this year by almost 21 per cent while gold has gained about 26 per cent, widening the gap between the two to almost 50 per cent. 'Rapidly rising gold and plunging oil aren't good signs for the global economy and this year to May 5 is among the most extreme examples,' writes Mike McGlone, senior commodity strategist for Bloomberg Intelligence. 'A global reset signalled by gold's outperformance appears to be happening with implications for deflation that could be as steep as the inflation of the past few years.' The disparity is the fourth biggest in the years between 1925 and 2025, he said, and the closest parallels are 1934 and 2007, the years preceding the Great Depression and the Global Financial Crisis. In 1933, there was a 50 per cent gap between gold and oil, and in 2008 it widened to 60 per cent. The 47 per cent gap so far this year has already overtaken that seen during the pandemic in 2020, according to Bloomberg data. Oil prices were up today and gold was down after the United States and China agreed to reduce tariffs for three months, easing trade tensions. McGlone expects the trend, which he says existed before the Trump's election and tariffs, to deepen, predicting that oil will fall near US$40 a barrel and gold will rise to US$4,000. 'A lower U.S. stock market may be a top force to get there,' he said. He's not alone in his prediction. In recent weeks Goldman Sachs, JPMorgan and Bank of America have all raised their gold forecasts to near or at US$4,000. Gold has a low correlation to equities, bonds and commodities making it an effective hedge, particularly when these traditional assets are falling together as they have been recently. Central banks have increased their gold purchases about fivefold since 2022, and over the past six months, bullion held by the People's Bank of China rose by close to 1 million ounces or about 30 tons, reports Bloomberg. Investors are also piling in. A recent Gallup poll showed gold has overtaken stocks as the second most popular long-term investment among Americans. Real estate is the top choice, but the public preference for gold rose five percentage points to 23 per cent, overtaking equities which fell six points to 16 per cent. Gold has gone from being just a safe haven to a strategic asset in investors' portfolios, say analysts at FTSE Russell, who recommend investors hold 60 per cent equities, 20 per cent bonds and 20 per cent gold. Since 2020, the 60/20/20 portfolio has outperformed the traditional 60/40 holding, they said. 'It is no longer merely a defensive store of value, but a dynamic, strategic tool for navigating complexity in the multi-asset space,' said FTSE Russell analysts Sayad Reteos Baronyan and Alex Nae. to get Posthaste delivered straight to your unemployment rate rose in April to 6.9 per cent, a level last seen in November and this highest since January 2017 outside of the pandemic. This is the third month in a row where jobs have either flatlined or fallen, putting the average pace of job gains at -8,000 over the past three months. April's data points the blame at trade tensions. The largest drop in employment was manufacturing which lost 31,000 jobs and wholesale and retail trade, down 27,000. 'Overall, we are seeing a job market that was weak heading into the trade war, now looking like it could soon buckle,' said Ali Jaffery, an economist with CIBC Capital Markets. Earnings: Hudbay Minerals Inc., Finning International Inc., Denison Mines Corp., Constellation Software Inc. Canada's largest natural gas producer just keeps getting larger When not to trust your mortgage lender How can I ensure a neighbour with a $10 million estate is not taken advantage of? Over-contributing to an RRSP or TFSA can cost you and the longer the money remains in your account the more you pay. Tax expert Jamie Golombek highlights the case of a taxpayer who ultimately removed her TFSA over-contribution, but apparently not fast enough for the CRA. Read on. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Just when you thought Toronto's condo market couldn't get any worse … High down payments keep Canadians out of homeownership Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
