During the first nine months of the year, the aggregate price of a single-family home in Alberta’s recreational property market decreased 7.6 per cent year-over-year to $724,921, according to a report released Monday by real estate firm Royal LePage.
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OTTAWA — The federal government is unveiling a new round of financial supports to respond to the second wave of the COVID-19 pandemic in Canada, as the latest projections show the national deficit is projected to hit a new high: at least $381.6 billion this fiscal year.
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Despite the recent progress in vaccine development, oil prices will continue to be subdued in the first half of next year, while oil prices will not average above $50 for the whole of 2021, the monthly Reuters poll of analysts showed on Monday. The U.S. benchmark WTI Crude is set to average $46.40 per barrel next year, compared to $46.03 a barrel expected in the previous month’s poll, according to the survey of 40 economists and oil analysts.
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Consumer debt in Canada rose 3.8 per cent in the third quarter to $2.041 trillion, driven by the surging housing market and new auto loans, Equifax Canada’s latest report reveals.
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The “bridge fuel” narrative for natural gas is being replaced. Not so easily replaced, however, is the demand for natural gas. Natural gas—just a couple of years ago hailed as the fuel that will bridge the fossil fuel era and the renewable energy era—now finds itself the target of growing opposition and pressure from environmental groups and governments.
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Without a crystal ball, it is impossible to say precisely what the coronavirus pandemic will ultimately do to real estate, but we can make reasonable guesses based on what we know about the economy and markets in general. For example, when a global recession occurs, family offices can generalize about the economic impact on real estate.
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There is no denying that the number of natural disasters and their severity have increased over the years. Wildfires have burned more than four million acres in California in 2020, which is double the previous record of two million acres that was set in 2018. On the other side of the country, the 2020 Atlantic hurricane season has also broken multiple records.
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When Silicon Valley search engine Pinterest opted to pay nearly $90 million to get out of its lease on 490,000 square feet of unbuilt office space in San Francisco in August, it sent shock waves through commercial real estate markets.
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According to data collected from credit institutions,(1) nominal apartment prices are estimated to have increased on average by 3.2% year-on-year in the third quarter of 2020. According to revised data, the increase in the first and second quarters of 2020 was 6.5% and 4.1% year-on-year respectively, while in 2019 nominal apartment prices increased on average by 7.2%.
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LONDON (Reuters) – British lenders approved the highest number of mortgages in over 13 years in October, Bank of England data showed on Monday, suggesting no let-up yet in a post-coronavirus lockdown bounce-back in the country’s housing market.
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