The downward trend for single-family housing is unlikely to reverse as governments emphasize density in new developments
The single-family home has long been a symbol of the middle-class dream, but its prominence on the Canadian real estate landscape is fast fading away, with the latest sign of its demise coming in the form of a prolonged slump in building permits.
In fact, the real value of permits for single-family homes – once the largest construction segment for permits – has now fallen below that of the commercial sector, which includes the beleaguered retail and office sectors.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Class Action Lawsuit Filed Against Canadian Pacific, Canadian National, and Transport Canada Over Wildfire NegligenceA potential class action lawsuit has been filed against Canadian Pacific, Canadian National, and Transport Canada, alleging negligence in the prevention of a wildfire in British Columbia. The plaintiffs claim that the defendants failed to minimize fire risk in fire-prone areas and ensure that the regular operation of trains would not spark a fire. The lawsuit also states that a witness saw smoke and flames near CN Rail's bridge, leading to job loss for the witness.
Read more »
Class Action Lawsuit Filed Against Canadian Pacific, Canadian National, and Transport Canada Over Wildfire NegligenceA potential class action lawsuit has been filed against Canadian Pacific, Canadian National, and Transport Canada, alleging negligence in the prevention of a wildfire in British Columbia. The plaintiffs claim that the defendants failed to minimize fire risk in fire-prone areas and ensure that the regular operation of trains would not spark a fire. The lawsuit also states that a witness saw smoke and flames near CN Rail's bridge, leading to job loss for the witness.
Read more »
Risk-on greater reason for record-high Q2 gold price than interest rate decline – BristowThe all-time-high second-quarter (Q2) gold price is less about the forecast decline in interest rates and more about risk-on amid global economy wrestling and world deglobalisation, Barrick president and CEO Dr Mark Bristow highlighted this week, following his round-the-world travel. “China is certainly going to recover – but not back to where it was,” Bristow forecast during the Q2 results presentation of the New York- and Toronto-listed gold and copper mining company. (Also watch attached Creamer Media video.)
Read more »
Canada's Stock Market Rises as U.S. Markets DeclineCanada's main stock market, the S&P/TSX composite index, showed a slight rebound on Wednesday despite a decline in U.S. markets. The rise was driven by energy stocks, while health care and metals offset some gains. Investors are shifting towards defensive sectors due to weaker global economic data, particularly in China. The cheaper valuation of Canadian stocks compared to the U.S. may also be attracting foreign investors.
Read more »
S&P Global Commodity Insights: Market Decline and Output Reduction Haven't Occurred Since 2009According to S&P Global Commodity Insights, there hasn't been a significant market disruption and decline in output since 2009.
Read more »
Passenger Levels at Sault Ste. Marie Airport Decline in JulyPassenger levels at Sault Ste. Marie Airport experienced a 1% decline in July compared to the same period last year, marking the first year-over-year decline since April 2021. Despite a 13% increase in year-to-date passenger levels compared to last year, the airport still faces a 25% decrease in passenger levels compared to pre-pandemic July 2019. The President and CEO of SSMADC expressed concern over the reversal in the recovery and highlighted the slower rebound in regional markets compared to larger hub airports.
Read more »