O'Neill Real Estate, The Beach, Toronto
Buying and selling homes and condos in The Beach and downtown Toronto
While real estate investment trust investors have something to look forward to as the companies they own look to return to positive earnings after a weak quarter, the companies themselves are facing uncertain futures as the economy struggles for growth. Dozens of REITs will report their third quarter results in the coming weeks, and RBC… Read More
OTTAWA—Statistics Canada says the economy created 61,000 new jobs last month, taking the unemployment rate down to 7.1 per cent, the lowest level since December 2008. The surprisingly strong performance, a rise of two notches in September, surprised economists who were expecting a modest 15,000 pickup. The details were somewhat softer, however, since the increase… Read More
OTTAWA—The Canadian economy shrank in the second quarter as a number of one-time shocks rippled through the economy, taking their toll on the key exports sector. But economists said Wednesday that it was unlikely the country would make a second misstep and slip back into a recession as growth is forecast to return in the… Read More
Canadian housing starts unexpectedly climbed 4.3 per cent in July, data showed Tuesday, setting the third quarter off to a strong start in new home construction and maintaining its role as a key support to the economy. Starts, elevated by a big jump in multi-residential construction, rose to a seasonally adjusted annualized rate of 205,100… Read More
TORONTO/BANGALORE — Canada’s biggest office and retail landlords reported strong quarterly results on Friday, boosted by acquisitions and long-term leasing renewals. Brookfield Office Properties and RioCan Real Estate Investment Trust REI said funds from operations, the most closely watched performance measure for REITs, rose in the three months to the end of June. Even so,… Read More
OTTAWA— The very thing that lifted the economy from the depths of the recession — Canadians’ passion for owning a home — could also be its undoing, warns the chief economist for RBC Global Asset Management. Central to Eric Lascelles’ concern is that the availability of cheap credit has driven household debt levels to record… Read More
Bank of Canada Governor Mark Carney held his benchmark interest rate at 1 per cent Tuesday, pointing to global threats on both sides of the Atlantic and weaker-than-expected exports, while also signalling that the domestic economy’s strength is moving him closer to higher rates. In explaining the decision to leave borrowing costs alone for a seventh consecutive meeting,… Read More
A relatively strong Canadian economy will force the Bank of Canada to double its key lending rate by the end of the first quarter in 2012, says a new report from Citigroup Capital Markets. The country’s central bank will stand pat when it announces its latest rate decision on Tuesday but come October it will… Read More
Never mind gridlock on the roads or sky high real estate prices, Toronto’s economy is the strongest in the country, a report by a leading Canadian bank says. CIBC rated the city number one among the 25 largest cities across Canada in a survey that looked at things like population growth, employment rates, bankruptcy rates… Read More
Things are definitely looking up for the Canadian economy, but don’t bank on interest rates rising anytime soon. With Europe’s credit mess spilling over and the faltering U.S. recovery eliciting serious talk about QE3, it’s pretty much unanimous the Bank of Canada will stand pat when setting its policy direction next Tuesday and may not… Read More
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