Average Canadian house price rose 13% to record $509460 in May – CBC.ca + MORE Jun 15th

MONTREAL – A Montreal-based company is launching a multi-province network for recharging electric vehicles.
Quebec’s largest pension fund manager, La Caisse de depot et placement, and a provincial investment agency recently provided $12.8 million to support the deployment.
Called the FLO network, it will initially have 2,000 charging locations in five provinces, including Quebec.
AddEnergie says its goal is to add 8,000 more charging stations across Canada over the next five years.
It also says a charging station for homes will be introduced at an electric vehicle exhibition in Montreal next week.
AddEnergie is among the companies predicting electric vehicles will become a mainstream alternative to gasoline-fuelled cars as EV technology improves and governments work to reduce emissions of greenhouse gases.
It says the FLO network will start with charging stations in Canada’s three most populous provinces — Ontario, Quebec and British Columbia — as well as Nova Scotia and New Brunswick…

CBC.caAverage Canadian house price rose 13% to record $509460 in MayCBC.caThe average price of a Canadian home sold in May was $509,460, a 13 per cent increase in the past year and the highest figure on record. The strong gains are largely tied to hot markets in Ontario and British Columbia, according to the numbers released …Canadian Real Estate Association says home sales down month-over-monthCTV NewsCanadian home sales drop in May following April's recordCanada NewsWire (press release)Canadian manufacturing sales jump 1% after two months of declinesbnn.caWall Street Journal -Reuters Canada -Reuters -Winnipeg Free Pressall 15 news articles »

WASHINGTON – Falling auto production fueled a broader decline in U.S. industrial output in May, a potentially worrying sign that manufacturers face economic challenges.
The Federal Reserve said Wednesday that industrial output — which includes factories, mines and utilities — dropped 0.4 per cent from April. The decline reversed the 0.6 per cent gain seen between April and March, an improvement that provided some evidence that the industrial economy was turning around after a period of extremely weak performance.
“The industrial side of the U.S. economy remains under pressure,” said Gus Faucher, deputy chief economist at PNC Financial Services.
Sluggish growth abroad has dampened the demand for American-made goods, while lower energy prices caused a pullback on pipeline and equipment orders at many U.S. factories. The setbacks for manufacturers have limited overall economic growth.
There have been signs that many factories are adapting and that their outlook was improving…

Learn, save, invest and prosper with My Own Advisor.
Welcome to my latest dividend income update.  For those of you new to these posts on my site, every month I discuss my approach to investing using dividend paying stocks and how reinvesting the dividends paid from the Canadian companies we own are helping us reach financial freedom.   You can check out more details about our financial journey here.
From time to time on this site I share some simple (but effective) financial lessons learned from many financial experts and industry leaders, in order to affirm our financial plan.   Here’s what the best brains in the business often tell us to do:

invest for the long-term,
invest mostly in equities,
when investing keep your money management costs low,
diversify your portfolio across companies, industries, and countries, and
invest in a tax-efficient manner for as long as possible.

Regarding these points, for the purposes of these monthly updates, we invest in a number of well-known Canadian dividend paying stocks that have been paying dividends for generations…

OTTAWA – The Canadian Real Estate Association says home sales in Canada dropped 2.8 per cent month-over-month in May.
The number of sales through the association’s MLS system was down in about 70 per cent of all markets, led by B.C. and Ontario where the number of homes listed for sale fell.
The number of newly listed homes fell by 3.2 per cent in May compared with April.
Compared with a year ago, sales in May were up 9.6 per cent.
The hot markets of Vancouver and Toronto helped push the national average price of a home sold in May to $509,460, up 13.2 per cent from a year ago.
Excluding Vancouver and Toronto, the average price for a home sold in May was $375,532, up 9.1 per cent from May 2015. Excluding British Columbia and Ontario as a whole, the average in May was down 0.7 per cent year-over-year to $310,007.
The post Canadian Real Estate Association says home sales down month-over-month appeared first on Canadian Business – Your Source For Business News.