Housing Wealth Makes Immigrants Richer Than Canadian-Born Families: Statistics Canada
April 19, 2019Canada’s immigrants are all about real estate, and that means newcomers to the country are carrying more debt than their Canadian-born counterparts. But the upside is that immigrant families have also accumulated more wealth, according to data released by Statistics Canada on Tuesday. The agency’s report, “The Wealth of Immigrant Families in Canada,” found that “established” immigrants are slightly wealthier than Canadian-born households, with an average net worth of $1.06 million in 2016. Watch: Should Canada’s super-rich pay a supertax? Story continues below. StatCan defined “established immigrant family” as one where the major earner is 45 to 64 years old…
Mortgage Stress Test Pushing Canadians Into Unregulated Lending: CIBC
Ottawa’s new mortgage stress tests accounted for at least half of the decline in new mortgages started last year, according to a new report by CIBC that calls for the measure to be revisited amid a falling housing market. “You…
French Billionaires Fall Over Each Other To Pay For Notre Dame Rebuild
PARIS — Two of France’s richest men, long locked in a very public rivalry, are once again pitted against each other — this time over flashy and competing donations to rebuild Notre Dame. Billionaire luxury tycoons — Bernard Arnault, 70,…
Canada Post Expects Losses Despite Parcel Delivery Boom
OTTAWA — Parcel delivery is booming, but Canada Post says it will struggle to meet its government-mandated goal of self-sustainability in coming years due to an ongoing decline in letter mail, higher employee costs and billions in needed capital spending.…
Canadian Home Sales, Prices Fizzle In March, Adding Up To Another 'Disappointing' Month
OTTAWA — Home sales in March fell to their lowest level for the month since 2013, the Canadian Real Estate Association said Monday. The association said sales through the Multiple Listing Service fell 4.6 per cent compared with a year…
Helping Your Kids To Buy A House? Here's How To Do The Most Canadian Thing Ever
OTTAWA — Buying a home is a big step for anyone and experts say that parents looking to help their children need to make sure it is affordable and that their children are ready for the change. Chris Catliff, president…
More Than 200K Mazda 3 Cars Recalled In U.S., Canada
OTTAWA — Mazda is recalling more than 200,000 Mazda 3 compact cars in the U.S. and Canada because the windshield wipers can fail. The company says in documents posted Saturday by the U.S. National Highway Traffic Safety Administration the recall…
Ford Can't Balance Ontario Budget Without Tackling Government Bloat
There’s an elephant in the room whenever politicians talk about Ontario’s finances, and it’s the cost of the province’s enormous bureaucracy. There is no way to address the government’s $13.5-billion deficit without addressing the size of government, and it’s a…
Ontario Budget Summary: Doug Ford Focusing On Balancing Books In 4 Years
TORONTO — Ontario’s books won’t be balanced within the Progressive Conservatives’ mandate, but the government’s first budget serves up an era of gradual belt-tightening with a side of booze. The Tories peg the current deficit at $11.7 billion, and they…
Canadian Electricity Providers Say At Least 20,000 New Workers Needed By 2022 To Keep Country's Power On
OTTAWA — Canada’s electricity providers say they need to appeal to a younger and more diverse workforce if they’re going to keep the country’s lights on. A new report on the industry’s labour needs from Electricity Human Resources Canada suggests…
As A Software Tester, I Question The Safety Of Self-Driving Cars
We now live in a world where everything other than a straw broom seems to be run by software. Lights turn on and off by themselves, security cameras send video of private household activities to public websites, cars steer themselves…