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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com

10 September 2018

Canadian richest show higher income growth than others

The latest report by research firm Wealth X says that Canada takes the fifth place in the world as the country with the number of people showing a net worth of at least $30 million US. As a result, Canada outpaced Switzerland and Hong Kong.

In 2017, there were 10,840 residents in Canada worth $30 million or more including their investable assets. The New York-based firm provides such reports annually, based on the database of wealthy people.

The firm names the $30 million figure as the mark of an ultra-high net worth.

7 September 2018

Canada surprises everyone by losing 51,600 jobs in August

Last month, the national economy shed 51,600 net jobs, raising the jobless rate and offsetting the July’s growth.

According to Statistics Canada, the unemployment rate went up from 5.8% in July to 6% in August.

Meanwhile, Thomson Reuters Eikon says economists predicted an increase of 5,000 jobs with the jobless rate at 5.9%.

6 September 2018

Toronto housing market keeps rebounding

Last month, the Greater Toronto Area real estate market kept rebounding with an annual 8.5% sales hike, following weaker results of the first half of the year.

According to the Toronto Real Estate Board (TREB), there were 6,839 homes sold in August through the MLS system. The average cost was also up by 4.7% from a year ago to $765,270.

As a result, August became the third consecutive month of year-over-year sales growth, as July reported an 18.6% increase, and June showed only 2.4%.

TREB President Garry Bhaura believes the growth is caused by homebuyers returning to the market after a long pause, which followed an introduction of tighter mortgage rules, foreign buyers tax and a tax on vacant homes in April 2017.

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7676 Woobine Avenue Suite 300 Markham, ON L3R 2N2
2180 Steeles Avenue West, Suite 204, Concord Ontario L4K 2Z5
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