Soaring inflation has Canadians bracing for more financial turbulence: Angus Reid
Posted: Jun 28th, 2022In: ConstructionNewsIn the midst of the highest inflation rates in forty years, a new study from the non-profit Angus Reid Institute finds that overall, 45 per cent of respondents say they are worse off now than[...]
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Record-setting year for residential construction industry: CHBA report
Posted: Jun 25th, 2022In: ConstructionNewsThe Canadian Home Builders’ Association (CHBA) has released its annual report on the performance of Canada’s residential construction industry, which according to the association, details a record-setting year for the industry in its contribution to[...]
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Inflation skyrockets to highest level in nearly 40 years as gas prices soar
Posted: Jun 23rd, 2022In: ConstructionNewsOTTAWA – Soaring gas prices helped the annual inflation rate in May soar to its highest level in nearly 40 years, as the rising cost of living for Canadians squeezed household budgets and bolstered expectations the Bank of Canada will opt[...]
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Alberta housing starts rebound to 2015 levels as oil prices surge
Posted: Jun 21st, 2022In: ConstructionNewsCALGARY – Alberta’s cities are once again abuzz with the sound of hammers and saws as surging oil prices fuel a fresh building boom in the province. According to Statistics Canada, housing starts in Alberta,[...]
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Freeland touts previously announced measures to combat hot inflation
Posted: Jun 16th, 2022In: ConstructionNewsTORONTO – Amid stubbornly hot inflation and rising interest rates, Finance Minister Chrystia Freeland detailed financial commitments to “help make life more affordable for millions of Canadians” – but the measures were all previously announced. Freeland delivered[...]
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Key household debt to income ratio down in Q1 as income rises faster than debt
Posted: Jun 14th, 2022In: ConstructionNewsOTTAWA – Statistics Canada says the amount Canadians owe relative to their income pulled back in the first quarter from the record level set in the fourth quarter of 2021 as incomes grew faster than debt.[...]
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Bank of Canada says household debt and home prices key risks for financial system
Posted: Jun 10th, 2022In: ConstructionNewsOTTAWA – The Bank of Canada said vulnerabilities from high household debt and elevated housing prices have increased and pose key risks to the Canadian financial system. In its latest financial system review, the central bank said Thursday the twin factors[...]
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Bank of Canada says economy can handle higher rates despite household debt risks
Posted: Jun 9th, 2022In: ConstructionNewsHigh household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can still handle the rising interest rates needed to tame inflation, Bank of Canada governor Tiff Macklem said Thursday. “We think[...]
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Study finds non homeowners are pessimistic about buying homes despite cooling prices
Posted: Jun 6th, 2022In: ConstructionNewsTORONTO – A new study conducted by Chartered Professional Accountants of Canada (CPA Canada) finds that Canadians who don’t own homes think home ownership remains far out of reach despite prices cooling slightly across the[...]
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Bank of Canada expected to jack up interest rates as inflation persists
Posted: Jun 5th, 2022In: ConstructionNewsExperts predict the Bank of Canada will likely announce another major interest rate boost Wednesday as it tries to rein in runaway inflation. After keeping its key interest rate near zero since March 2020, the central bank unveiled a pair of rate hikes[...]
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