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Canada's main stock index just endured worst day of 2019 Mar 23rd
Weak manufacturing data from Europe and then in the United States had investors nervous on both sides of the Atlantic..... More »
Erin Bury on quitting a stable job for a risky paycheque, investing in her 20s and more May 12th
Value and planning ahead are important for Erin Bury—as you will read in the interview below. It is what drives her as an entrepreneur (a former PR pro, she is the co-founder and chief executive officer of Willful, an online will platform making estate planning accessible to Canadians). Read on to.... More »
Home Capital: Finance billionaire Smith bets Canada’s housing slump won’t last - BNN Bloomberg Nov 21st
Home Capital: Finance billionaire Smith bets Canada’s housing slump won’t last BNN BloombergAlternative mortgage lender Home Capital to be bought by Smith Financial for $1.7-billion The Globe and MailHome Capital's current share price worth below $30/share is a worse case s.... More »
37% of Vancouverites think real estate market is 'extremely corrupt': report + MORE Dec 13th
According to a Transparency International Canada report on perceptions of domestic corruption, 37 per cent of those living in the Metro Vancouver area would describe the real estate sector as “extremely corrupt.".... More »
The best high-interest savings accounts in Canada for 2025 + MORE Mar 31st
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First Cobalt to acquire US Cobalt in a friendly stock deal amid growing interest
– canadianbusiness.com
TORONTO _ First Cobalt Corp. says it will take over US Cobalt Inc. in an all-share deal valued at $150 million as it looks to add to its supply of the industrial metal ahead of increased demand.
The friendly deal, which requires approval by US Cobalt shareholders, comes as growing investments and demand in electric vehicles has spurred interest in key metals like cobalt, used in the vehicle’s battery packs.
As a result, cobalt prices have more than doubled since the start of last year.
First Cobalt says the acquisition will help it position itself as a North American-focused cobalt company, as buyers of the metal look to diversify from a widespread reliance on production in the Democratic Republic of the Congo where human rights groups have raised concerns of child labour in mining operations.
The company says US Cobalt’s flagship project in Idaho, as well as lithium projects in Utah and Alberta, will complement its own cobalt projects and refinery in Ontario.
The rise in cobalt prices has prompted other Canadian mining companies to push ahead on cobalt-related projects sitting on their books, including RNC Minerals looking to spur development of its Dumont nickel-cobalt project in Quebec and Fortune Minerals looking to breath new life into its project in the Northwest Territories…
The friendly deal, which requires approval by US Cobalt shareholders, comes as growing investments and demand in electric vehicles has spurred interest in key metals like cobalt, used in the vehicle’s battery packs.
As a result, cobalt prices have more than doubled since the start of last year.
First Cobalt says the acquisition will help it position itself as a North American-focused cobalt company, as buyers of the metal look to diversify from a widespread reliance on production in the Democratic Republic of the Congo where human rights groups have raised concerns of child labour in mining operations.
The company says US Cobalt’s flagship project in Idaho, as well as lithium projects in Utah and Alberta, will complement its own cobalt projects and refinery in Ontario.
The rise in cobalt prices has prompted other Canadian mining companies to push ahead on cobalt-related projects sitting on their books, including RNC Minerals looking to spur development of its Dumont nickel-cobalt project in Quebec and Fortune Minerals looking to breath new life into its project in the Northwest Territories…
New mortgage rules behind slide in B.C. home sales: real estate association
– canadianbusiness.com
VANCOUVER _ The British Columbia Real Estate Association says tough mortgage qualification rules are a key reason for a provincewide drop in housing demand last month compared with February 2017.
The association says home sales fell 5.7 per cent in February, with about 6,200 properties changing hands.
Chief economist Cameron Muir says on a seasonally adjusted basis, sales have plummeted more than 26 per cent since new federal mortgage rules took effect at the beginning of the year.
But the association says prices continue to climb, with the average home selling for just over $748,000, an 8.8 per cent jump over February of last year.
The Office of the Superintendent of Financial Institutions implemented new lending guidelines in January that require borrowers who don’t need mortgage insurance to show they would still be able to make payments if interest rates rise.
In order to get insurance, homebuyers must prove they can service their uninsured mortgage at a qualifying rate two percentage points higher than the lender’s rate or the Bank of Canada’s five-year benchmark rate, currently set at 5…
The association says home sales fell 5.7 per cent in February, with about 6,200 properties changing hands.
Chief economist Cameron Muir says on a seasonally adjusted basis, sales have plummeted more than 26 per cent since new federal mortgage rules took effect at the beginning of the year.
But the association says prices continue to climb, with the average home selling for just over $748,000, an 8.8 per cent jump over February of last year.
The Office of the Superintendent of Financial Institutions implemented new lending guidelines in January that require borrowers who don’t need mortgage insurance to show they would still be able to make payments if interest rates rise.
In order to get insurance, homebuyers must prove they can service their uninsured mortgage at a qualifying rate two percentage points higher than the lender’s rate or the Bank of Canada’s five-year benchmark rate, currently set at 5…
Mark Milke is author of Tax Me I’m Canadian: A Taxpayers’ Guide to Your Money and How Politicians Spend It.
If Canadians want a case study on how governments make a problem worse, cast an eye at British Columbia and housing. The provincial government, both under the previous Liberals and now the NDP, have continually kept or enacted policy, such as rent control and now a speculation tax, that exacerbates a tight rental market and high real estate prices.
Supply problems and slum promotion: The problem of rent control
British Columbia has long had rent control. That policy always discourages the construction of rental units as it limits the return on investment, which, in turn, squeezes supply, even condominiums bought by potential individual landlords. Such controls also produce slums as landlords have little incentive to fix up or improve units beyond the bare legal minimum. This ultimately harms renters by producing artificial shortages and a degraded housing stock.
READ: Alberta and B…
If Canadians want a case study on how governments make a problem worse, cast an eye at British Columbia and housing. The provincial government, both under the previous Liberals and now the NDP, have continually kept or enacted policy, such as rent control and now a speculation tax, that exacerbates a tight rental market and high real estate prices.
Supply problems and slum promotion: The problem of rent control
British Columbia has long had rent control. That policy always discourages the construction of rental units as it limits the return on investment, which, in turn, squeezes supply, even condominiums bought by potential individual landlords. Such controls also produce slums as landlords have little incentive to fix up or improve units beyond the bare legal minimum. This ultimately harms renters by producing artificial shortages and a degraded housing stock.
READ: Alberta and B…
