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A group of investors led by a Dubai-based real estate developer is in talks to build a mixed-use tower in Thailand that may vie for the mantle of the world’s tallest building.
As homeowners invest in solar panels, EV chargers, heat pumps and batteries, many are finding that a little electricity arbitrage can be addictive.
Former Bank of Canada Governor David Dodge said the increase in spending in the federal government’s new budget will make the central bank’s battle against rising prices more difficult.
Sales of previously-owned homes in the US fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices.
Mortgage rates in the US climbed past 7% for the first time this year.
Nov 23, 2017
By Noah Zivitz
Justin Trudeau took the wraps off his government’s 10-year, $40-billion National Housing Strategy yesterday - but it’s going to take buy-in from the provinces to hit that dollar figure, and some funding won’t start flowing until after the next federal election. The plan is heavy on support for low-income Canadians, with a sprinkling of measures aimed at the middle class. On that front, the government says it is:
-“Examining” barriers to housing finance for the self-employed
-“Continues to examine” ways to improve compliance with real estate tax laws
-Will take steps to address mortgage fraud “over the next two years”
The question is whether those three things will make the dream of home ownership more attainable for middle-class Canadians, particularly in the country’s most scrutinized markets.
TRUDEAU TAKES AIM AT FCC’S NET NEUTRALITY PLAN
Sandwiched in the Q&A session after yesterday’s housing announcement, a reporter asked the prime minister for his thoughts on the U.S. FCC’s plan to repeal net neutrality rules. Trudeau didn’t hold back. “I am very concerned about the attacks on net neutrality,” he said. “The idea of throttling…or charging extra…just does not make sense.” The PM added a free-moving Internet is crucial for small businesses and consumers. We’ll chase insight on the potential spillover effect from the FCC’s plan for Canadians.
SASOL EXITING CANADIAN SHALE
Another global energy player is getting out of Canada. South Africa’s Sasol said today its Canadian shale gas assets aren’t core to its business, so it’s staging an exit in consultation with its partner, Progress Energy.
OTHER NOTABLE STORIES:
-A bunch of seemingly contradictory data points in a new Manulife Bank survey on household debt trends. Fifty-four per cent of respondents say they have a good knowledge of debt management. Yet only a minority (41 per cent) are comfortable with their debt, and less than a third say they hit their debt-reduction targets last year.
-Suncor has closed the previously announced East Tank Farm Development investments by the Fort McKay First Nation and Mikisew Cree First Nation. The $503 million in proceeds will go toward paying down debt.
-The Fraser Institute is criticizing the federal government in a new report for “doing very little to prepare for the greying of society” by not raising the age of eligibility for retirement programs.
NOTABLE RELEASES/EVENTS
-Notable data: Canadian retail sales, Statistics Canada Employment Insurance report
-9:00 a.m. ET: Parliamentary Budget Officer releases analysis of proposed changes to taxation of passive investment income
-Ontario Premier Kathleen Wynne starts trade mission to China
And a reminder to all that U.S. markets are closed today, and will close early tomorrow, due to Thanksgiving.
Every morning BNN's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.
