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It’s been some time since companies could raise cash in debt markets and come away feeling like they got the better end of the deal.
China’s all-or-nothing stock market is losing momentum, after three months of what might be best described as forced buying of a deeply oversold asset.
New Statistics Canada data shows investors made up almost one third of homeowners in some provinces in 2020.
A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a resurgence in consumer demand that leans against concerns of an imminent economic slowdown.
Sales in the Toronto housing market ground to the slowest pace since the first month of the pandemic as buyers contend with some of the highest borrowing costs they’ve seen in 15 years.
Aug 10, 2020
BNN Bloomberg
,Canadian homeowners shelled out $80.1 billion on home renovations in 2019, according to a new report from Altus Group. The real estate data firm said overall spending was up 2.6 per cent in the year, outpacing overall economic growth.
According to the report, about 75 per cent of that spending was on home upgrades, with the remainder earmarked for necessary repairs. That $61.2 billion spent on upgrades roughly matched overall spending on new home construction, according to Altus.
However, Altus said Canadian home renovation spending growth is expected to grind to a halt amid the economic uncertainty caused by the COVID-19 pandemic. The firm is forecasting home renovation spending will fall 5.2 per cent this year after hitting $80.1 billion in 2019.
Altus Group forecast renovation spending will drop in all regions, with spending set to fall the most in Quebec, Alberta and Ontario. However, Altus sees a strong snap-back in 2021, forecasting a 5.3-per-cent jump in renovation spending due to falling five-year mortgage rates and the drop in rates on home equity lines of credit.
That drop in the cost of borrowing could prove significant, as Canadians increasingly borrow against the value of their homes. Altus estimated Canadians borrowed at least $14 billion dollars to finance their renovation plans last year, with home equity lines of credit (HELOCs) and other secured financing products accounting for about 60 per cent of the borrowing.