Canada real estate: RBC Economics reports condo listings on the rise as investors look to sell

RBC Economics reported on October 15 that condo prices have “stagnated over the past six months”.

Previous to this, the bank’s economics section on September 30 predicted that condo prices could “weaken in larger markets next year”.

Another thing is happening as well with the condo market in Canada.

In its latest housing report, RBC Economics noted that the real-estate market is awashed with condo supply.

According to economist Robert Hogue, “condo investors are looking to sell”.

“As rents soften and vacancies rise, condo listings are spiking in Toronto, Montreal and Vancouver—albeit from low levels,” Hogue reported on Thursday (October 29).

In the City of Toronto, condo listings in September 2020 increased 133.9 percent compared to supply in the same month last year.

For the rest of the Greater Toronto area, condo listings last month posted year-over-year growth of 81.5 percent.

In the island of Montreal, listings rose 41.4 percent

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Canada should think hard before building partnership with India

Canada and India must forge a strong alliance, Opinion, Online, Oct. 14

Vijay Sappani argues that Canada and India must come closer because they are both democracies that share “values of freedom, justice, human rights, commitment to the rule of law, and a Westminster-style parliamentary system.”

Yet it’s puzzling that most of his article is devoted to fighting “terrorism” and to security partnerships, and there is no mention of the extremely parlous state of democracy in India under Prime Minister Narendra Modi and his Hindu majoritarian Bharatiya Janata Party.

It has been over a year since the citizens of the state of Jammu and Kashmir were deprived of their freedom and constitutionally guaranteed autonomy, with the state divided into federally administered territories and mainstream politicians put under house arrest, along with army patrols, the arrest of hundreds under draconian anti-terror laws, a months-long shutdown of the Internet, and changes to

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‘Immediately stop using’: Numerous well-known wipes products sold in Canada recalled due to infection fears

Health Canada has issued a large recall of numerous wipes products sold in Halton region and across Canada due to a possible contamination that could cause infections.

The recall involves Cottonelle & Cottonelle GentlePlus Flushable Wipes products. The company reported that more than two million units of the affected products were sold in Canada.

“Some of the recalled products may have the presence of a common household micro-organism, Pluralibacter gergoviae,” Health Canada said in a statement. “Pluralibacter gergoviae rarely causes serious infections in healthy individuals. Individuals with weakened immune systems, who suffer from a serious pre-existing condition, who have been treated surgically, or belong to another sensitive group of persons are at an increased risk of infection if they use the contaminated product.”

The affected products were sold from Feb. 14, 2020, to Oct. 7, 2020, Health Canada said.

As of Oct. 7, the company has received no reports of

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Canada real estate: RBC Economics housing report notes condo prices stuck in a rut

A recent housing report by RBC Economics states that prices of condo properties haven’t been seeing much action.

“Condo prices, in fact, have already stagnated over the past six months both at the national level…,” bank economist Robert Hogue wrote.

According to Hogue, this is happening as well in “some of Canada’s largest markets (including Vancouver, Toronto and Hamilton)”.

“This contrasted with a solid 7.3% increase for single-detached homes nationwide over that period,” Hogue also noted.

Hogue’s observation about condo prices form part of his October 15, 2020 report about the performance of the real-estate market for September.

Hogue noted that the benchmark price of homes in Canada increased 10.3 percent year-over-year in September.

That was the “first time it’s been in double-digits in three years”.

“The strength was generally concentrated in single-detached homes,” Hogue wrote, adding that the benchmark price for this type of home rose 12 percent year-over-year

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Shell Canada scraps plans for sale of Sarnia Manufacturing Centre

Oct 15 (Reuters)Shell Canada RDSa.L has abandoned plans for the possible sale of its Sarnia Manufacturing Centre, it said on Thursday, confirming an earlier media report.

“We have decided to stop actively marketing the Sarnia Manufacturing Centre and its associated infrastructure which includes the refinery, chemicals plant, Sarnia and Hamilton Distribution terminals and Shell’s 45% interest in Sun-Canadian Pipeline”, a company spokeswoman said.

The company had announced the intention to divest in January last year and said on Thursday that it will assess its next steps if it receives interest at a later date.

“Shell will continue to operate these assets while maintaining our marketing presence in Ontario and continuing to honor branded supply and wholesale agreements,” the spokeswoman said.

She added she was unaware of any plans for closure and that considerations for future investment will be handled on a case-by-case basis.

(Reporting by Kanishka Singh and

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COVID-19 could cost Canadian universities millions, even billions: Statistics Canada

MONTREAL – Canadian universities could lose as much as $3.4 billion this year due to the COVID-19 pandemic, Statistics Canada has projected, in large part due to a decrease in the number of foreign students.

In a report published this week, Statistics Canada tried to estimate university budget losses for the 2020-2021 school year.

Tuition fees make up an increasingly large portion of university revenues, the agency said. In 2013-2014, tuition fees accounted for 24.7 per cent of school funding, while they made up 29.4 per cent in 2018-2019.

The largest portion of university revenue comes from government funding, at 45.8 per cent.

Statistics Canada said the increase in the proportion of tuition fees was caused by a growing number of foreign students, who pay higher tuition — almost five times as much as Canadian citizens.

In 2017-2018, foreign students alone paid about 40 per cent of all tuition fees.

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