Fiscal belt tightening a ways to a means

By all appearances, reports and statistics, the Canadian housing market is in a Goldilocks state: Not too hot, not too cold, just right.

But three mortgage bears could change the story.

Finance Minister Jim Flaherty and Bank of Canada governor Mark Carney have been flying red flags about increasing Canadian household debt levels.

To curb it, mortgage qualifying regulations have been tightened four times in four years, making it difficult for home buyers teetering on their own personal fiscal cliffs to buy a home.

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Harper urges avoid fiscal cliff, but looks to Asia as a backup plan

BANGALORE, India- Stephen Harper’s first call to U.S. President Barack Obama since his re-election earlier this week was a combination of warm congratulations and neighbourly concern over the fiscal state of affairs across the border.

The prime minister placed the 10-minute call from India where he is at the tail end of a six-day tour.


Almost All Of The Fiscal Cliff Analysis You’re Going To Read Is Wrong — Here’s What Obama’s Win Really Means

A quick point on a big topic that people will be talking about in the coming weeks: The Fiscal Cliff.

The conventional wisdom on the Fiscal Cliff is that Romney would have been better for it, because he’d ensure that the tax hikes wouldn’t have happened.

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Flaherty still expected to balance federal budget by 2015-16, new figures show

OTTAWA— The federal government is expecting a hit to its revenues this year due to changing economic circumstances and softening commodity prices, but still expects to balance the books over the “medium term.”

Indeed, economists still believe the government remains on track to eliminate the deficit — estimated at $21.1 billion in the budget — by 2015-16, and possibly a year earlier.

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Penny tax could go a long way to solving city fiscal challenges

The pitch for a Calgary penny tax is raising its head once again with tales of success from a former Oklahoma City mayor.

Ron Norick is the guest speaker at a private presentation Monday hosted by Transformation Calgary, a local group concerned with the deficits of municipal facilities in Calgary and across Alberta.

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Redford vows to hold fiscal course despite oil price drop

CALGARY— The Tory government will make some adjustments to deal with falling oil prices but intends to stay the course when it comes to its budget plans, Premier Alison Redford said Wednesday.

The price for West Texas Intermediate crude dipped to $85 US a barrel on Wednesday — its lowest mark since July — compared to February’s provincial budget estimate of $99.25. If oil averaged $85 for the year, that could blow about $3 billion out of the government’s $40.2-billion revenue projections.

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