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It's hard to buy this first home.



The number of new home buyers has fallen sharply. This year, largely due to the strengthening of mortgage restrictions.

The Association of Notaries of British Columbia published its annual report on real estate for 2019, and the survey showed that it is becoming more and more difficult to acquire this first home.

About 200 notaries from across the province took part in the survey, and 59 percent said that in 2018 the number of new home buyers fell. Twenty-eight percent believe that their number has not changed, and 13 percent believe that there was an increase.

“While it's nice to see that many newcomers find ways to get their first home, the increased restrictions and the potential for higher interest rates make some people cautious or decide to wait outside to accumulate more down payment,” President of the British Columbia Notaries Association Daniel Buasvert stated in a press release.

To learn more about this story, visit the Okanagan Edge.

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December 27, 2018 / 14:15 | Story:
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The new report of the National Energy Council states that the "main factor" of the recent sharp discounts on Western Canadian oil is that oil production exceeded the throughput capacity of export pipelines by about 365,000 barrels per day.

The initial report was compiled for Federal Natural Resources Minister Amarjit Soha, who turned to NEB for advice on how to optimize the existing pipeline and rail transport.

NEB reports that it launched an online public information forum and will meet with pipeline companies, manufacturers, shippers, government officials and other experts in January to collect more answers for the minister.

The report notes that in the period from 2013 to 2016 about a million barrels per day were added to the capacity of the Canadian oil pipeline, but since then there has been no new capacity.

The estimated carrying capacity of the pipeline for removal from Western Canada in September was 3.95 million barrels per day, but oil production increased to about 4.3 million barrels per day.

The discounts narrowed in early December after the Alberta government announced that from January 1, a temporary reduction in production of 325,000 barrels per day would be introduced, which is a measure aimed at reducing storage volumes and restoring normal market prices.


December 27, 2018 / 10:57 | Story:
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Enbridge receives a refund of $ 14.7 million. US paid by Canada’s federal energy regulator for a pipeline that it will not build.

The North Gate pipeline was supposed to connect the Alberta oil field to the port in Kitimat, British Columbia, but the plan collapsed when federal liberals banned the movement of tankers off the north coast of British Columbia.

Without oil tankers to service the port, there was no point in sending Alberta bitumen to Kitimat, and the project died in 2016.

Enbridge paid the National Energy Council $ 14.7 million. The United States in the form of fees for monitoring the construction and operation of the pipeline, which was an insignificant share of the cost of its construction.

The energy company requested a refund earlier this year, and shortly before Christmas, Prime Minister Justin Trudeau’s cabinet agreed.

Enbridge says $ 373 million is still spent on a canceled project.

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December 27, 2018 / 10:19 | Story:
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The fall in world oil prices has led to the Christmas miracle of lower gasoline prices in most parts of Canada, but an expert on fuel prices says that motorists need to refuel now before a rise is expected this weekend.

Dan Makty, a senior oil and gas analyst at GasBuddy.com, says gas prices are at an almost 18-month low due to global oil prices that have fallen in the past two months due to fears of a recession, US and Chinese trade. fears that members of the OPEC oil cartel will not live to reduce production.

Despite a brief increase in oil prices on Wednesday, average regular gasoline prices remain about 17 cents lower per liter than a year ago in Alberta and Ontario, 12 cents lower in Manitoba, six cents lower in Quebec, 11 cents lower in Nova Scotia and three cents. lower in Newfoundland and Labrador.

McTeague says prices in B.S. compared to the same period last year, they rose by two to six cents per liter, but they would have been lower if it had not been for the impact of the interruptions in fuel imports from Washington due to the disconnection of the state's Olympic gas pipeline in mid-December.

The US oil market benchmark in western Texas fell to $ 42.53 on Christmas Eve, a decrease of 44% from $ 76.41 a barrel on October 3. They rose to $ 46.22 on Wednesday, but fell on Thursday.

McTeague says that “extreme volatility” in oil markets is expected to continue to damage gasoline prices in Canada in early 2019.

“I think that what we see here, where oil prices — and pump prices as a result — go up by five and 10 percent during a given week, much of this is really a harbinger of what we are likely to see.” in 2019 extreme price movements, "he said.


December 27, 2018 / 9:19 | Story:
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It is expected that the main stock market of Canada in 2019 will recover from the worst results for the decade, when the exchange lost 15 percent amid extreme volatility, falling oil prices and geopolitical uncertainty, market experts say.

“Our predictions for 2019 are based on cautious optimism,” says Candace Bangsund, portfolio manager at Fiera Capital.

She expects stocks to outperform bonds, as global growth remains relatively healthy with a recession unlikely until the end of 2020.

Markets are in the later stages of the business cycle, marked by the longest bullish run in history. This is usually the time when investors move from growth-oriented stocks to protective names in sectors such as finance, materials, industry and energy.

“This will be positive for TSX,” said Bangsund, predicting low double-digit returns and even stronger indicators for emerging markets. Bangsund does not see much advantage for US markets.

“Here we see the opportunity to catch up, but it will not be a long-term deal. By the end of the first half of 2019, we will need to take profits and position a bit more carefully in 2020. prospects. "

The S & P / TSX composite index fell by 15% in 2018 since opening in January 16,209.13, and this year there are only a few trading days left. This would make it a worse year, as the market fell 35.2% in 2008 during the Great Recession.

The market adjusted in February and fell again in October after reaching a peak of 16,586.46 in mid-July. It then fell in December, reaching a two-year low of 13,776.88 on December 24th.

“It was a difficult year for an investor to make money even in a typical balanced portfolio,” said Bangsund in an interview.

The financial sector, the largest accounting TSX, fell by almost 15 percent. Energy, the second largest, fell by almost 32 percent, as the price of the West Texas intermediate product fell by about 26 percent, and the price of Canadian oil was punished due to the lack of pipeline capacity to export oil from Canada.

Materials fell by about 14 percent amid falling gold and copper prices amid rising US dollars.

The technology sector has passed the same wave as the American stock exchanges, receiving about five percent, but it accounts for only three percent of the TSX. The small health sector declined by 14 percent due to the extreme volatility of cannabis stocks, since Canada legalized consumption of a pot for recreation in October.

Despite the December sale of energy, which resulted in the price of WTI falling to a minimum of $ 42.36 per barrel, Bangsund’s target price for WTI in 2019 will be $ 70 per barrel, while others see it fluctuates between the mid 50s and mid 60s.

“We are quite optimistic about the price of oil and, as a result, it affects our bullish demand for the Canadian dollar, as well as the Canadian stock market,” added Bangsund.

The year was marked by geopolitical uncertainty, ranging from a showdown of the Italian budget with the European Union and ending with Brexit. But the main topic affecting the markets was the protectionist agenda of the Trump administration, which aimed to revise the North American free trade agreement, threatened automobile tariffs and began a confrontation with China.

US markets also reached their worst year in the last ten years, despite the fact that they were promoted at the beginning of the year by the technology sector and high corporate revenues caused by federal tax cuts. Towards the end of the year, the Dow Jones industrial index and the S & P 500 index fell by about 12% after rising by 25% and 20% respectively in 2017.

According to Kash Pashotan, CEO and Chief Investment Officer of First Avenue Investment Counsel Inc., Kash Pashotan, revenues in public markets will be challenged for at least the next few years.

"We do not expect a market crash or any serious recession, but at the same time we have no illusion that we will have the same stability and strength in the actions that we have seen in the past few years," he said.

The volatility, which marked the year 2018, may continue next year, added Craig Fehr, Canadian market strategist Edward Jones.

“I don’t think it will necessarily be a significant year,” he said. “I don’t think we’re going to repeat 2017, where we saw huge growth and very little recession, but I think 2019 could be another good year for stock markets.”

BMO chief economist Douglas Porter expects the TSX to outperform the S & P 500 next year, and vice versa, it has been inferior to American exchanges for seven of the past eight years.

"As a rule, it is quite simple – when commodity prices rise, TSX shines," he wrote in a note. "However, with the reduction in trade uncertainty (USMC) and the emergence of a large amount of bad energy news next year, the TSX may gain a rare victory, at least on a relative basis."


December 27, 2018 / 7:03 | Story:
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Canadian Pacific Railway Ltd. reports that members of Unifor have ratified a four-year labor agreement, covering about 1,200 employees responsible for maintaining cars and locomotives.

Both sides reached a preliminary agreement for the Unifor Local 101R in early December. The previous contract expires on December 31st.

The details of the agreement were not disclosed, but National Unifor President Jerry Diaz said on December 2 that the union was able to achieve significant success.


December 27, 2018 / 6:32 | Story:
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The Canadian economy entered 2018 with surprisingly impressive dynamics. The country begins the year 2019 on a healthy note, but the signs of weakness raised a key question: how long until good times run out?

For most of 2018, Canada’s unemployment rate fluctuated around a 40-year low, and job creation remained strong, as evidence suggests that the economy is approaching full decline.

The transfer was also good – the country showed a three percent growth for the entire 2017, mainly due to significant household spending. We will have to wait a bit for the final figures, but the forecasters say that the year 2018 probably has ensured a steady growth of about two percent.

But with the approach of 2019, there are fears that steady economic growth is beginning to show its age.

Last month, the federal government’s autumn economic report again predicted a two percent increase in 2019, but many predict that their number is likely to decline after the recent fall in oil prices.

In addition to lowering oil prices, experts point to fluctuations in financial markets, predicting that the US economy — the key driver of growth in Canada — will begin to cool and a complicated gap between the United Kingdom and the European Union will occur, which could spread throughout the country. world economy.

There is also the potential for an even greater threat: the escalation of the trade war between Washington and Beijing.

With regard to trade, Canada has gone through a year filled with considerable uncertainty, including complicated negotiations and the signing of an updated version of the North American Free Trade Agreement.

However, many unknown trade will be transferred to the new year. The road to ratification of NAFTA 2.0 could lead to even more drama, since the punishment for American steel and aluminum tariffs remains in force, and the clash of superpowers between Canada’s two largest trading partners continues to be played.

“There are always reflections on the cyclical downturns taking place, and, as I said, the effects of the trade war between China and the United States can have a significant impact on the global economy – a negative impact on the global economy,” said the Prime Minister. Justin Trudeau said in a recent interview with The Canadian Press.

"We must be sure that we are ready for the turbulent waters if we meet with them."

In Canada, potential problems include a combination of high household debt, rising interest rates and a slowdown in wage growth, which has been “terrible” for about half a year after a good growth in early 2018, says Matt Stewart, director of economics at The Conference Board. Canada.

Stewart added that higher interest rates hit household spending, which was the main driving force behind Canada’s good economic gains.

“It's been a long time since we had a recession,” said Stewart. "At the moment, I think most news is still positive, but the risks are growing."


December 24, 2018 / 12:30 | Story:
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The Public Health Agency of Canada reported on Monday that, since no new cases of E. coli associated with the novel's salad had been detected since mid-November, the green leaf could probably be eaten again.

A month before, 29 people got sick from the bacteria in the salad, mostly in Quebec. Several people got sick in Ontario and New Brunswick, and three in British Columbia after the trip.

It seems that spoiled lettuce came from three counties in California, and the Canadian Food Inspection Agency banned the import of lettuce grown there. The US Food and Drug Administration said that as a result of the same outbreak in the United States of America, 59 people became ill.

E. coli, which is present in the feces, and sometimes in raw meat, can cause serious digestive problems, including cramps and bloody diarrhea. The government stated that no one died during the outbreak, but 10 people were hospitalized in Canada, and two had serious and long-term complications.

The health agency reported that the bacteria in this outbreak are a genetic coincidence for E. coli involved in a similar outbreak in 2017.

“This tells us that the same strain of E. coli causes the disease in Canada and the USA, which was observed in 2017, and suggests that there may be a recurring source of pollution. The researchers use evidence collected in both outbreaks to help determine the possible cause of contamination in these events, "said the agency.

Investigators still do not know exactly how the salad turned out to be infected, but the agency said that people got sick from eating it at home and in restaurants. Some people bought whole heads of lettuce; others got it in salad mixes.

“Retailers and industry partners continue to supply roman lettuce to the Canadian market from growing non-outbreak regions and help consumers easily identify the origin of the novel's lettuce on the Canadian market,” the public health agency said.


December 24, 2018 / 11:15 | Story:
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Air Canada’s acquisition of the Aeroplan loyalty program received all the necessary approvals from the federal government before shareholders voted in favor of the $ 450 million agreement reached by the airline in November.

Shareholders of the current owner of Aimia Inc., a member of Aeroplan, must vote for the cash transaction on January 8.

In accordance with their agreement, Air Canada will buy Aeroplan's business from Aimia for cash, and will also commit to $ 1.9 billion. The US in front of the points holders is partly supported by two banks that offer Aeroplan credit cards.

The Bank of Toronto-Dominion and the Canadian Imperial Commercial Bank will pay out a total of about $ 1.2 billion to Air Canada. Banks and Visa agreed to stay with the loyalty program at least until 2030.

On Monday, Aimia and the Montreal-based airline stated that they received the necessary permits in accordance with the Competition Act and the Canadian Transportation Act.


December 24, 2018 / 8:43 | Story:
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The main stock index of Canada and the Canadian dollar were moderately lower on Monday morning, continuing the downward trend that started last week and led the Canadian dollar to a 19-month low against the US dollar.

The Canadian dollar traded at 73.67 US cents, compared with an average of 73.71 cents on Friday.

The S & P / TSX composite index fell by 45.80 points to 13,889.64 after the first 90 minutes of the shortened trading day. The Toronto Stock Exchange closes at 1 am and reopens on Thursday after a two-day vacation.

In New York, the Dow Jones Industrial Average fell by 309.15 points to 22,136.22. The S & P 500 fell by 19.05 points to 2,397.83, and the Nasdaq index fell by 223.36 points to 6,305.03.

The February contract for crude oil fell by 91 cents to $ 44.68 per barrel, and the February contract for natural gas production by 20 cents to $ 3.55 per barrel.

The February contract for gold went up by $ 10.30. To $ 1,268.40 An ounce, and the March contract for copper fell in price by less than a cent to 2.67 dollars. A pound.


December 23, 2018 / 20:07 | Story:
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For the past 25 years, Edward Sonshine has been known as the king of Canadian shopping centers.

Now the executive director of one of the largest real estate investment funds in the country wants to be known also by another: housing.

“It’s not me that is changing,” Sonshine said in an interview at the RioCan REIT head office in Toronto.

"Changes in our strategy have always been a reaction to a changing world, changing business, changing the economy."

Since its founding in 1993, RioCan has created a portfolio of about 250 retail, warehouse and office properties.

During the past year, the company looked at how best to use the main outlets and shopping centers, many of which are located on existing or upcoming transit lines.

Sonshine said that it was easy for RioCan to turn these outlets into multi-purpose facilities by adding rented premises and office space to meet the growing demand for housing, especially in the largest cities in the country.

Last month, Canada Mortgage Housing Corp. reported that rental demand continues to outpace supply due to rising immigration, the elderly, and the millennium.

«Когда людям становится сложнее покупать, они идут в аренду. Они должны где-то жить», – сказал Соншайн. «Население крупных городов продолжает расти. Мы смотрим на это так, что рынку аренды некуда идти, кроме как быть хорошим».

Соншайн говорит, что этот сдвиг является случайным, потому что компания уже стремится уменьшить свою экспозицию в розничной торговле, поскольку привычки потребителей продолжают переходить к покупкам в Интернете, а не к покупкам в торговом центре с большой коробкой.

«Я не сомневаюсь, что спрос на торговые площади в ближайшие пять-десять лет не будет расти», – сказал он.

Соншайн сказал, что это впервые прозвучало для него в 2015 году, когда главный арендатор компании Target из США объявил о закрытии своих канадских офисов.

С тех пор RioCan выходит из таких городов, как Лондон, Онтарио и Grande Prairie, Алта, и реинвестирует в шесть крупных городских рынков страны, где он прогнозирует самый большой рост. К 2020 году RioCan хочет, чтобы более 90 процентов дохода от аренды приходилось на недвижимость, расположенную в этих крупных городах, по сравнению с нынешними 75 процентами в настоящее время.

В настоящее время в Торонто, Оттаве и Калгари ведется строительство восьми специализированных проектов аренды, или 2300 квартир. Первые две разработки будут запущены в первом квартале и летом 2019 года.

В течение пяти лет Sonshine увидит, что портфель RioCan будет состоять из 10 процентов жилых объектов, пять процентов офисной недвижимости, а остальная часть будет приходиться на розничный рынок.


23 декабря 2018 г. / 7:50 | Story:
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Цены на природный газ в Западной Канаде настолько низки, что партнер первого в стране проекта по экспорту СПГ закрывает убыточные скважины и сокращает свою программу разведки.

Малайзийская Petronas, которая имеет 25-процентную долю участия в канадском проекте СПГ стоимостью 40 миллиардов долларов, сокращает добычу на 50–200 миллионов кубических футов в сутки из скважин на северо-востоке Б.С. По словам генерального директора канадского филиала, он способен производить 700 миллионов кубических футов в день.

Эта практика применяется растущим числом западно-канадских производителей, чтобы избежать продажи своего природного газа по ценам, которые часто даже не покрывают стоимость трубопроводного транспорта.

«Мы много говорим о нефтяной инфраструктуре», – сказал генеральный директор Mark Fitzgerald из Petronas Energy Canada Ltd. в интервью, ссылаясь на то, что скидки на нефть в Западной Канаде обвиняют в полном объеме нефтепроводов.

«Газ также пойман в ловушку, и если сравнить цены, которые канадские производители газа получают с нашими аналогами в США, различия будут значительными и будут стоить нам значительной суммы денег».

Компания инвестировала значительные средства в разведку природного газа на северо-востоке Б.С. с 2012 по 2016 год, используя более 25 буровых установок в часы пик, чтобы доказать потенциал ресурсов в рамках своего долгосрочного плана по строительству терминала экспорта сжиженного газа. Фицджеральд сказал, что сейчас работает только одна установка.

Petronas отказалась от своего проекта СПГ в Тихоокеанском Северо-Западном регионе на сумму 36 миллиардов долларов США в 2017 году, но присоединилась к партнерству по СПГ в Канаде, возглавляемому Royal Dutch Shell в мае прошлого года.

Партнеры согласились продолжить реализацию своего проекта этой осенью, но не ожидается, что он будет готов начать переохлаждение природного газа и отгрузить его до конца 2023 года или начала 2024 года.

Ян Арчер, заместитель директора IHS Markit, сказал, что газовая промышленность Западной Канады была стабильной с 2000 по 2008 год, с добычей около 16 миллиардов кубических футов в день и ценами около 10 долларов за гигаджоуль, но это изменилось, когда появились новые технологии бурения и заканчивания скважин. это позволило США резко увеличить добычу сланцевого газа.

Более дешевый американский газ начал вытеснять западно-канадский газ на таких рынках, как Калифорния, Восточная Канада и Нью-Йорк, и цена в Западной Канаде упала вдвое, а к 2012 году добыча упала примерно до 13 млрд куб.

Тенденция ухудшилась, когда новые технологии бурения начали использоваться в северо-восточной Б.С. и северо-западная часть провинции Альберта для производства светлых нефтепродуктов, таких как конденсат, который необходим в качестве разбавителя для смешивания с необработанным битумом из нефтей и песков, чтобы он мог течь в трубопроводе.

Конденсатные скважины, как правило, также содержат высокие уровни природного газа, а увеличение добычи газа до 16 млрд куб. сказал Арчер.

Между тем, согласно прогнозу Управления по энергетической информации США, спотовая цена на Генри Хаб в США в 2018 году составит в среднем 3,17 доллара США за ГДж (около 4,12 доллара США).

Трубопроводные компании тратят миллиарды долларов на расширение своих газовых систем в Б.С. и Альберта, которая улучшит доступ к рынку, но трудно понять, куда можно отправить газ, чтобы выиграть лучшие цены, сказал Арчер.

Ожидается, что для первой фазы СПГ в Канаде потребуется около двух миллиардов кубических футов в сутки газа для производства около 14 миллионов тонн СПГ в год, но ожидается, что большая часть этого газа будет поступать от партнеров, поэтому значительного повышения цен не ожидается, он сказал.

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