Archives for category: Economy

 
 
NAFTA was an epic failure for the people and an epic success for the corporate cabal.

Proponents claimed that NAFTA will “grow” the economies and creating jobs and wealth for Canada, USA, and Mexico.

That didn’t happen.

The NAFTA experience shows that any benefits went almost exclusively to the wealthy and big corporations. While CEO salaries and corporate profits have soared in Canada since 1994, family and worker incomes have stagnated and family debt has risen to historic levels.

Read the report
 


 

The Giant Sucking Sound: Ross Perot Was Right
 

 

 

NAFTA ‘a disaster’ and I’ll renegotiate, says Donald Trump
If Donald Trump kills NAFTA, Canada could benefit: Walkom

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

Please take this poll:

 

What do you look for when shopping for a new home?

>> Awesome upgrades
>> Move-in ready condition
>> Location, location, location!
>> No smaller than a mini-mansion
>> Other

How long does it take you to completely unpack after moving in?

>> 3 days – I’m an unpacking MACHINE!
>> I need a full month just to figure out where to put everything!
>> 3 months – I use the boxes as end tables!
>> NEVER! I still haven’t unpacked everything from the last move.
>> Other

The one luxury that I would pay extra for when looking for a home:

>> An indoor swimming pool or hot tub
>> Heated bathroom floors (no more cold feet!)
>> A heated driveway … No more shovelling!
>> A home cinema room
>> Other

Is it important to own a house?

>> 1. Yes, owning a home is an investment that will pay off.
>> 2. No, I’d rather save my money and rent.
>> 3. No, I can’t afford to buy a home.
>> 4. I don’t know.

Is now a good time to buy a house?

>> Yes, prices will continue to rise.
>> No, Canada is facing a housing bubble and prices will eventually fall.
>> I don’t know.

 
Looking for a Cheap Place to Live in Canada? These are the 10 Cheapest Cities

How much can I afford calculator – Mortgages | BMO Bank of Montreal

 
 
 
 
 
 
 
 

 
 
10. Quebec City

Median total income: $81,900

9. Gatineau

Median total income: $84,500

The Ontario portion of the region may have a higher income, but Gatineau had a better unemployment rate of 6.4 per cent in June

8. Greater Sudbury/Grand Sudbury, Ont.

Median total income: $85,440

7. Oshawa, Ont.

Median total income: $86,160

6. St. Johns, Nfld.

Median total income: $87,150

5. Saskatoon, Sask.

Median total income: $87,410

4. Regina, Sask.

Median total income: $91,200

3. Edmonton, Alta.

Median total income: $96,030

2. Ottawa

Median total income: $98,110

1. Calgary, Alta.

Median total income: $98,300

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 

The home of the oil sands is the richest municipality in Canada, according to new data from Statistics Canada.

Source: StatsCan
Number represents median family income for 2010.

 

10. Kingston, Ont. – $77,140
  9. Victoria, B.C. – $77,820
  8. St. John’s, Newfoundland – $78,210
  7. Saskatoon, Sask. – $80,570
  6. Oshawa, Ont. – $82,270
  5. Guelph, Ont. – $82,560
  4. Regina, Sask. – $84,890
  3. Edmonton, Alta. – $87,930
  2. Calgary, Alta. – $89,490
  1. Ottawa, Ont. – $90,790

 

Canada’s Richest Small Towns

All 10 of the wealthiest small towns are in western Canada, a reflection of the growing imbalance between regional economies across the country.

10. Whitehorse, Yukon – $92,690
  9. Cold Lake, Alta. – $94,980
  8. Thompson, Man. – $95,580
  7. Grande Prairie, Alta. – $95,620
  6. Lloydminster, Sask. – $96,280
  5. Fort St, John, B.C. – $96,510
  4. Okotoks, Alta. – $101,670
  3. Estevan, Sask. – $106,680
  2. Yellowknife, N.W.T. – $128,810
  1. Fort McMurray (Wood Buffalo), Alta. – $169,970

Among larger cities, the biggest gains in family income were found in Guelph, Ontario (up 2.1 per cent from the previous year), while Vancouver saw the biggest drop — down 2.5 per cent.

Among smaller towns and cities, Sept-Iles, Quebec saw the biggest jump (up 5.8 per cent) and Kitimat, B.C., saw the biggest decline (down 7.3 per cent).

Statistics Canada.

 

 

Canada’s Richest Neighbourhoods

Source: Canadian Business

 
Sunnyside and Edgehill, Westmount, Montreal
Average Household Net Worth: $9.37 million
Average Annual Household Income: $503,935
Average House Price: $2.49 million

Lexington Avenue, Westmount, Montreal
Average Household Net Worth: $9.96 million
Average Annual Household Income: $590,695
Average House Price: $1.8 million

Lawrence Park North, Toronto
Average Household Net Worth: $10.44 million
Average Annual Household Income: $906,266
Average House Price: $2.81 million

Kerrisdale, Vancouver
Average Household Net Worth: $10.59 million
Average Annual Household Income: $1,277,431
Average House Price: $2.79 million

Forest Hill South/UCC, Toronto
Average Household Net Worth: $10.63 million
Average Annual Household Income: $629,972
Average House Price: $3.18 million

Summit Park, Westmount
Average Household Net Worth: $11 million
Average Annual Household Income: $906,659
Average House Price: $2.4 million

Shaugnessy Heights, Vancouver
Average Household Net Worth: $12 million
Average Annual Household Income: $777,184
Average House Price: $3.09 million

Sunnybrook, Toronto
Average Household Net Worth: $20.82 million
Average Annual Household Income: $311,979
Average House Price: $2.29 million

York Mills/Windfields, Toronto
Average Household Net Worth: $21.55 million
Average Annual Household Income: $1,212,275
Average House Price: $3.4 million

The Bridle Path, Toronto
Average Household Net Worth: $22.27 million
Average Annual Household Income: $936,137
Average House Price: $2.24 million

RICH CITIES 1

RICH CITIES 2

RICH CITIES 3

 
 
 
 
 
 
 
 
 
 

 

Source: Brand Finance Canada

20: Shoppers Drug Mart
Brand value: $1.97 billion

19: Canadian Tire
Brand value: $2.04 billion

18: BlackBerry
Brand value: $2.04 billion

17: Loblaws
Brand value: $2.06 billion

16: McCain Foods
Brand value: $2.12 billion

15: Brookfield Properties
Brand value: $2.33 billion

14: CN Rail
Brand value: $2.89 billion

13: Shaw
Brand value: $3.06 billion

12: Manulife
Brand value: $3.3 billion

11: Telus
Brand value: $3.65 billion

10: George Weston
Brand value: $3.88 billion

9: Bombardier
Brand value: $3.96 billion

8: Enbridge
Brand value: $4.17 billion

7: Rogers
Brand value: $4.55 billion

6: CIBC
Brand value: $4.8 billion

5. Bell
Brand value: $5.54 billion

4. Bank of Montreal (BMO)
Brand value: $6.49 billion

3. Scotiabank
Brand value: $7.03 billion

2: Royal Bank of Canada (RBC)
Brand value: $10.28 billion

1. TD Bank
Brand value: $10.4 billion

 
 
 
 
 
 
 
 
 

 

14% of Canadians with debt say it will never happen

>> a number that jumps to 21% for Canadians 65 years of age and up.
>> Another 10% said they don’t know when they’ll be able to completely pay off their debt.
>> Collectively, that means 24% of Canadians holding debt today have no defined timeline to pay it off.

Where Are Canada’s Most Desperately Indebted People?
Take a look at the percentage of Canadians who say they’ll never be debt-free, by region
.

Alberta — 9%
Quebec — 10%
National average – 14%
Manitoba / Saskatchewan — 15%
Ontario — 15%
Atlantic Canada — 18%
British Columbia – 18%

How Canada’s Debt Burden Compares

Household Debt
Canada hit a record high in the first quarter of 2011, reaching $1.5 trillion in household debt. If spread evenly across Canada, that means every family with two children has $176,461 in debt.

In the U.S., household debt hit $11.5 trillion by the end of March this year. The average household debt in the U.S. for a family of four is $148,000.

U.S. Household Debt Holds Steady in 2011 Q1

Student Debt
Loans owed to Canada Student Loans amount to nearly $14 billion and rising. In the U.S., where tuitions are considerable higher, loans owed exceed $932 billion, including federal and private loans.

http://www.finaid.org/loans/studentloandebtclock.phtml

Public Debt
With their debt ceiling raised again, the U.S. has more than $14 trillion in government debt in the first quarter of 2011. Canada has more than $563 billion. That figure works out to 84 per cent of Canada’s GDP, compared to 58.9 per cent for the U.S.

http://www.treasurydirect.gov/govt/reports/pd/mspd/2011/opds072011.pdf

http://news.nationalpost.com/2011/03/21/graphic-50-years-of-canadian-debt/

Personal Debt
In the first quarter of 2011, the average Canadian had more than $3,500 in credit card debt, according to TransUnion Canada. In the U.S., the average American consumer owes more than $4,200 in credit card debt.

http://newsroom-en.transunion.ca/

Home Prices
As of June 2011, the median cost of a home in Canada was $372,000. Vancouver, Victoria and Toronto are some of the most expensive places in the country to buy a house. Prices in the U.S. vary more than they do in Canada. As of June, the median price of a home in the Northeast was $261,000, while the median price in the Midwest was $147,000. The median in the South was $159,100 and in the West, it was $240,400.

The average price of a home in the UK is £232,628 as reported by their first quarter in 2011, which converts to around CAD $371,000.

UK house prices: April to June 2013

Personal Bankruptcy
In 2010, there were more than 1.5 million non-business bankruptcy filings in the U.S. In the same year, there were only 92,694 personal bankruptcies in Canada. That means there were 48 bankruptcies per 10,000 people in the U.S., and 28 bankruptcies per 10,000 in Canada.

Which Parts Of Canada Have The Highest Household Debt?

Canadian Household Debt By Region
Number represents the average among those households that carry debt. Source: Statistics Canada

6. Atlantic Canada: $69,300
5. Quebec: $78,900
4. Manitoba & Saskatchewan: $84,900
3. Ontario: $124,700
2. British Columbia: $155,500
1. Alberta: $157,700

 
 
 
 
 
 
 
 
 
 

 
 
Calgary — 10.9%
Low-income population: 118,325

Population in private households for income status: 1,082,230

Ottawa — 11.7%
Low-income population: 101,235

Population in private households for income status: 867,090

Edmonton — 12.7%
Low-income population: 100,810

Population in private households for income status: 795,675

Regina — 12.7%
Low-income population: 24,035

Population in private households for income status: 189,740

Saskatoon — 14.0%
Low-income population: 30,475

Population in private households for income status: 218,320

Quebec City — 14.4%
Low-income population: 72,590

Population in private households for income status: 502,595

Thunder Bay — 15.0%
Low-income population: 15,885

Population in private households for income status: 105,950

Halifax — 15.1%
Low-income population: 57,980

Population in private households for income status: 384,335

St. Catharines — 15.2%
Low-income population: 19,520

Population in private households for income status:189,740

Hamilton — 15.7%
Low-income population: 79,785

Population in private households for income status: 509,640

Winnipeg — 16.6%
Low-income population: 108,125

Population in private households for income status: 649,995

St. John’s — 17.2%
Low-income population: 17,900

Population in private households for income status: 103,905

Fredericton — 17.2%
Low-income population: 9,495

Population in private households for income status: 55,150

Toronto — 19.3%
Low-income population: 496,660

Population in private households for income status: 2,576,025

Charlottetown (PEI) — 20.0%
Low-income population: 6,665

Population in private households for income status: 33,310

Vancouver — 20.5%
Low-income population: 121,020

Population in private households for income status: 590,210

Victoria — 20.7%
Low-income population: 15,715

Population in private households for income status: 76,025

Windsor — 23.7%
Low-income population: 49,395

Population in private households for income status: 208,020

Montreal — 26.4%
Low-income population: 425,380

Population in private households for income status: 1,612,640

 
 
 
 
 
 
 
 
 
 

 
 

Change in MLS Home Price Index, Jan. 2005 to May 2014.

Victoria, B.C.: Up 40.7%

Fraser Valley, B.C.: up 45.1%

Vancouver Island: up 48.3%

Ottawa: up 49.2%

Montreal: up 56.9%

Lower Mainland, B.C.: up 57.7%

Greater Vancouver: up 63.6%

Greater Toronto: up 66.3%

Calgary: up 109%

Saskatoon: up 133.6%

LARGEST: Regina – up 180.8%

 

The most expensive cottage countries in Canada

Upper end of a “typical” price range for a waterfront cottage.

Source: Royal LePage, 2014

Eastern Townships, Quebec: $525,000

Pigeon Lake, Alberta: $575,000

Muskoka, Ontario: $650,000

Sunshine Coast, B.C.: $650,000

Kelowna area, B.C.: $700,000

Vernon area, B.C.: $900,000

Gulf Islands, B.C.: $1 million

Mont-Tremblant, Quebec: $1.5 million

Southwestern Ontario: $2.45 million

 

 
 
 
 
 
 
 
 
 
 

 

Percentage change in average weekly earnings, April 2013 to April 2014.

Source: StatsCan

Education – down 3%

Professional/scientific services – up 0.9%

Health care – up 1.6%

Manufacturing – up 2.7%

Accommodation and food services – up 2.7%

Public administration – up 3.3%

Construction – up 4.1%

Real estate – up 6.9%

Management – up 7.1%

Information & cultural industries – up 7.2%

Transportation and warehousing – up 8.1%

Finance and insurance – up 9.6%

Utilities – up 10%

Mining, oil and gas – up 13.3%

 
 
 
 
 
 
 
 
 
 

 
I think people don’t realize it exists. If you’re just walking down the street, a co-op looks exactly like any other apartment building.
 

 
More than 2,000 non-profit housing co-ops — from buildings with four units to complexes with hundreds of apartments — exist in Canada. There are 263 in B.C. alone. Most were created with federal and provincial funding from the 1970s to the 1990s, according to the Co-operative Housing Federation of B.C.

A non-profit co-op is like a democratic country: residents have a vote in how it’s run as long as they live there. And because it’s not trying to make money, the co-op can charge lower rates than average private rents.

 
Lore Krill Co-op

CO OP Housing A1
CO OP Housing 2
CO OP Housing 3

 
Connaught Co-op, Vancouver
The Connaught Co-op has 63 two-bedroom units that are 797 sq. ft. The monthly charge is $1005 with a minimum income requirement of $38,5000.

CO OP Housing 4
CO OP Housing 5

Creekview Housing Co-op

The Creekview Housing Co-op is an eight-storey building with 103 units on Granville Island. It has an on-site daycare.

CO OP Housing 6

 

Amicae Housing Co-operative, Vancouver

CO OP Housing 7

 
Housing co-ops in Vancouver Eastside

CO OP Housing 8

CO OP Housing 9

CO OP Housing 10

CO OP Housing 11

CO OP Housing 12

CO OP Housing 13