The Canadian economy grewin July, with output expanding by 0.3 per cent on a monthly basis. Growth in real GDP, as measured at the industry level, was led by gains in the mining, oil and gas sectors as well as rising output in the manufacturing and finance and insurance sectors. 

July's growth follows very strong growth in June and generally encouraging economic data since the beginning of summer.

July's GDP data also signals a high likelihood that third quarter economic growth will not just be positive, therefore breaking a string of two straight down quarters, but will register a fairly robust 2.5 per cent. 

Sept'15

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When buying a Vancouver condo or townhome, many people try to save 20% down, in order to avoid the insurance premiums you are required ot pay - in case of default. But with the real estate prices rising, can you save faster than the prices are going up? Or should you buy with less than 20% down?

With a down payment of less than 10 per cent (5 per cent is the minimum), the cost of mortgage insurance rose in June to 3.6 per cent of the purchase price from 3.15 per cent. Larger down payments short of 20 per cent were unaffected and range from 2.4 per cent down to 1.8 per cent

If prices are rising at 3-5% per annum , that will increase your downpayment required and perhaps you will be shut out of the market alltogether.

Can you save faster than the prices or rising, or should you buy with less than 20% down and pay the default insurance?

Ask your bank to crunch some numbers for you, or use a mortgage calulator

Sept'15

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Please visit our Open House at 205 1633 8TH AVE W in Vancouver.

Open House on Saturday, September 19, 2015 1:30 PM - 2:30 PM

Welcome Home to this very rare condo in desirable Fairview, featuring top floor, 2 level, 2 bedroom 2 bath, 2 large balconies and 2 parking, plus a huge corner storage locker. Great floorplan with spacious living and dining rooms, desirabl e open kitchen and insuite storage and fireplace. Ensuite master bathroom with insuite laundry. Bedrooms separated for privacy. Faces south and north with some mountain view. Great building amenities include gym, hot tub, sauna/steam room and bike room. Transit, shops & restaurants at your doorstep, plus a 99 Walkscore! Bring your decorating ideas and make this home! Act fast for this well priced condo! Immediate possession. Open House: Sat, Sept 19th 1:30-2:30pm.

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Please visit our Open House at 205 1633 8TH AVE W in Vancouver.

Open House on Saturday, September 19, 2015 13:30:00 - 14:30:00

Welcome Home to this very rare condo in desirable Fairview, featuring top floor, 2 level, 2 bedroom 2 bath, 2 large balconies and 2 parking, plus a huge corner storage locker. Great floorplan with spacious living and dining rooms, desirabl e open kitchen and insuite storage and fireplace. Ensuite master bathroom with insuite laundry. Bedrooms separated for privacy. Faces south and north with some mountain view. Great building amenities include gym, hot tub, sauna/steam room and bike room. Transit, shops & restaurants at your doorstep, plus a 99 Walkscore! Bring your decorating ideas and make this home! Act fast for this well priced condo! Immediate possession. Open House: Sat, Sept 19th 1:30-2:30pm.

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Canadian manufacturing rose for the third consecutive month, increasing 1.7 per cent on a monthly basis in July. Sales were led by higher shipments of motor vehicle parts, which accounted for close to two-thirds of the gain.

Sales were higher in 12 of 21 Canadian manufacturing sub-sectors.

In BC, sales were up 2 per cent year-over-year. 
   
Solid manufacturing data in July indicates that the Canadian economy is recovering from the shock of low oil prices, particularly in sectors helped by the weaker Canadian dollar. We expect that the recovery will continue until year end, with the Canadian economy eking out modest growth of about 1.1 per cent this year.


Meanwhile, the BC economy continues to set the pace for Canada and remains on track to post the highest economic growth of any province in 2015! Yah!


September 2015

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BCREA report that the Province had a continued increase in home sales in August. In fact , sales have been on an upward trend for the past two years. Sales are up 32% over the past year, turning many regions into a sellers market. Eight of the eleven BC regions now have higher home prices than a year ago. The average home price is 10% higher than a year ago.

 View the graph

 

Sept'15

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There is perhaps no other Vancouver hotel that is as iconic as Coal Harbour's Westin Bayshore, which sits on the waterfront with astounding views. Built in the 1960s Starwood Capital and investors from the Middle East bought the hotel in 2013 for $151M and just sold it fo $290M. Crazy!

The hotel housed the International Olympic committee in the 2010 Olympic Winter games in Vancouver. As well, its most famous guest was Howard Hughes, who stayed in the penthouse and rented several ofther floors for six months in Spring 1972.

Concorde Pacific has purchased the property with the expectation that zoning could change in the future to accommodate redevelopment.

September 2015

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Please visit our Open House at 205 1633 8TH AVE W in Vancouver.

Open House on Saturday, September 5, 2015 2:00 pm - 3:00 pm

Welcome Home to this very rare condo in desirable Fairview, featuring top floor, 2 level, 2 bedroom 2 bath, 2 large balconies and 2 parking, plus a huge corner storage locker. Great floorplan with spacious living and dining rooms, desirable open kitchen and insuite storage and fireplace. Ensuite master bathroom with insuite laundry. Bedrooms separated for privacy. Faces south and north with some mountain view. Great building amenities include gym, hot tub, sauna/steam room and bike room. Transit, shops & restaurants at your doorstep, plus a 99 Walkscore! Bring your decorating ideas and make this home! Act fast for this well priced condo! Immediate possession. Open House: Sat, Aug 5, 2-3pm.

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The Canadian economy contracted in the second quarter, declining 0.5 per cent on an annualized basis following a 0.8 per cent contraction in the first quarter. A second consecutive quarterly decline fits what some call a recession.

Economic growth was undeniably weak for the first five months of the year. However, the downturn was quite modest compared to the severe recessions of the early 1990s or the 2008 financial crisis.

On a positive note, monthly GDP for June posted its strongest growth in over two years, breaking a string of 5 straight monthly contractions and surging 0.5 per cent on a monthly basis. Also, export growth contributed positively to GDP in the second quarter, which was an about turn from the first quarter. As well, consumer spending continues to be robust.

 

It's expected that the Canadian economy will continue to accelerate for the last half of 2015, with real GDP growth for the year registering just over 1 per cent.

 

Aug 1, 2015

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