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Canadian Property Bubble
The 2022 Canadian property crash refers to a significant rise in Canadian real estate prices from 2002 to present (with short periods of falling prices in 2008 and 2017) which some observers have called a real estate bubble. From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities.Haber, Bob. "Canadian Real Estate Bubble Blowing Up North." Forbes, Forbes Magazine, April 3, 2018, www.forbes.com/sites/bobhaber/2018/04/02/canadian-real-estate-bubble-blowing-up-north/#1b74d3871d5e. By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst.Tencer, Daniel (October 3, 2018)Canada At Risk As 'First Cracks' Appear In Global Housing Bubbles: UBS. ''HuffPost'' (Canada edition) Bloomberg Economics ranks Canada as the second largest housing bubble across the OECD in 2019 and 2021. Starting in February 2022, prices started to decline rapidly as the Bank of Canada hiked interest rates culminating in detached prices to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Bubble
A real-estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real-estate markets, and typically follow a land boom. A land boom is the rapid increase in the market price of real property such as housing until they reach unsustainable levels and then decline. This period, during the run up to the crash, is also known as froth. The questions of whether real estate bubbles can be identified and prevented, and whether they have broader macroeconomic significance, are answered differently by schools of economic thought, as detailed below. Bubbles in housing markets are more critical than stock market bubbles. Historically, equity price busts occur on average every 13 years, last for 2.5 years, and result in about 4 percent loss in GDP. Housing price busts are less frequent, but last nearly twice as long and lead to output losses that are twice as large (IMF World Economic Outlook, 2003). A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Direct Investment
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control. The origin of the investment does not impact the definition, as an FDI: the investment may be made either "inorganically" by buying a company in the target country or "organically" by expanding the operations of an existing business in that country. Definitions Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, and intra company loans". In a narrow sense, foreign direct investment refers just to building new facility, and a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. FDI is the sum of equity capital, long-term capital, and short-term capital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill 28 (British Columbia)
Bill 28, the Miscellaneous Statutes (Housing Priority Initiatives) Amendment Act, 2016, came into force on August 2, 2016. The law was introduced after calls urging the British Columbia provincial government to intervene in the housing market and curb foreign investment that was seen as a major contributor to the rapid rise in home prices. The Act has four parts: * Vacancy tax: Amendments to the Vancouver Charter to enable the City of Vancouver to impose a municipal vacancy tax on vacant residential property * Foreign-buyers tax: Amendments to the Property Transfer Tax Act, imposing an additional property transfer tax of 20% on all residential property purchased by foreign buyers * Amendments to the Real Estate Services Act discontinuing industry self-regulation of the real estate industry * Creating a new Housing Priority Initiatives special account to fund initiatives in respect to housing, rental, access, and support programs with the new tax revenues resulting from th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Tory
John Howard Tory (born May 28, 1954) is a Canadian politician who has served as the 65th and current mayor of Toronto since 2014. After a career as a lawyer, political strategist and businessman, Tory ran as a mayoral candidate in the 2003 Toronto municipal election and lost to David Miller. Tory subsequently served as the leader of the Ontario Progressive Conservative (PC) Party from 2004 to 2009, and was a member of the Legislative Assembly of Ontario representing Dufferin—Peel—Wellington—Grey and serving as the leader of the Opposition in Ontario from 2005 to 2007. After his resignation as PC leader in 2009, Tory became a radio talk show host on CFRB. Despite widespread speculation that he would run for mayor again in 2010, he announced in January that he would not be a candidate. He was the volunteer chair of the non-profit group CivicAction from 2010 to 2014. On February 24, 2014, he registered as a candidate for the 2014 mayoral election. On October 27, 2014 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles Sousa
Anthony Charles Sousa (born September 27, 1958) is a Canadian politician who has served as the Member of Parliament from Mississauga-Lakeshore since December 12, 2022. He previously served as the Minister of Finance for Ontario from 2013 to 2018. A member of the Ontario Liberal Party, Sousa was elected to represent Missisuaga South in the Legislative Assembly of Ontario in 2007. He joined the provincial cabinet as the minister of labour in 2010 and became Ontario's minister of citizenship and immigration in 2011. In 2022, Sousa ran as the federal Liberal candidate in the Mississauga-Lakeshore by-election which was held on December 12, 2022. Sousa won the election, defeating 39 other candidates. Early life, career and education Sousa is the son of Portuguese immigrants. He grew up in Mississauga and graduated from Wilfrid Laurier University in 1982 with a degree in Business Administration. In 1991, he completed a fellowship at the Institute of Canadian Bankers. He then ear ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Morneau
William Francis Morneau Jr. (born October 7, 1962) is a Canadian businessman and former Liberal Party politician who served as minister of finance and member of Parliament (MP) for Toronto Centre from 2015 to 2020. Morneau was executive chairman of the company founded by his father, and Canada's largest human resources firm, Morneau Shepell, and the former chair of the C. D. Howe Institute. He was also the chair of the board at St. Michael's Hospital, and Covenant House. Morneau holds a bachelor of arts (BA) degree from the University of Western Ontario, a master of business administration degree (MBA) from INSEAD, and a master's degree in economics from the London School of Economics. Morneau was elected to the House of Commons in the 2015 election and was immediately appointed finance minister by Prime Minister Justin Trudeau. Morneau resigned from both positions in August 2020 in the wake of the WE Charity scandal. In May 2021, Morneau was found to have violated Canada's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Condominiums In Canada
One in eight Canadian households lived in a residential condominium dwellings, mostly located in a few census metropolitan areas according to Statistics Canada Condominiums exist throughout Canada, although condominiums are most frequently found in the larger cities. "Condominium" is a legal term used in most provinces of Canada. in British Columbia, it is referred to as "strata title" and in Quebec, the term "divided co-property" (French: copropriété divisée) is used, although the colloquial name remains "condominium". With regular condominiums, the unit owner usually owns the internal unit space and a percentage of the common property; in the case of a ''freehold condominium'' (or a bare/vacant land condominium) the owner owns the land and building and a percentage of any common property shared roadways and amenities. The ''Canadian Condominium Institute'' is a non-profit association of condominium owners and corporations with chapters in each province and territory. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bid Price
A bid price is the highest price that a buyer (i.e., bidder) is willing to pay for some goods. It is usually referred to simply as the "bid". In bid and ask, the bid price stands in contrast to the ask price or "offer", and the difference between the two is called the bid–ask spread. An unsolicited bid or purchase offer is when a person or company receives a bid even though they are not looking to sell. Bidding war A bidding war is said to occur when a large number of competing bids are placed in rapid succession by two or more entities, especially when the price paid is much greater than the ask price, or greater than the first bid in the case of unsolicited bidding. In other words, a bidding war is a situation where two or more buyers are so interested in an item (such as a house or a business) that they make increasingly higher-priced offers in attempts to outbid others and win the ownership of the item. In real estate, a potential buyer can increase their bid in a numbe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suburb
A suburb (more broadly suburban area) is an area within a metropolitan area, which may include commercial and mixed-use, that is primarily a residential area. A suburb can exist either as part of a larger city/urban area or as a separate political entity. The name describes an area which is not as densely populated as an inner city, yet more densely populated than a rural area in the countryside. In many metropolitan areas, suburbs exist as separate residential communities within commuting distance of a city (cf "bedroom suburb".) Suburbs can have their own political or legal jurisdiction, especially in the United States, but this is not always the case, especially in the United Kingdom, where most suburbs are located within the administrative boundaries of cities. In most English-speaking countries, suburban areas are defined in contrast to central or inner city areas, but in Australian English and South African English, ''suburb'' has become largely synonymous with what ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Semi-detached
A semi-detached house (often abbreviated to semi) is a single family duplex dwelling house that shares one common wall with the next house. The name distinguishes this style of house from detached houses, with no shared walls, and terraced houses, with a shared wall on both sides. Often, semi-detached houses are built in pairs in which each house's layout is a mirror image of the other's. Semi-detached houses are the most common property type in the United Kingdom (UK). They accounted for 32% of UK housing transactions and 32% of the English housing stock in 2008. Between 1945 and 1964, 41% of all properties built were semis. After 1980, the proportion of semis built fell to 15%. History of the semi-detached house in the United Kingdom Housing the rural working classes Housing for the farm labourer in 1815 typically had one downstairs room with an extension for a scullery and pantry, and two bedrooms upstairs. The house would be of brick, stone if it occurred locally, or cob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greater Toronto Area
The Greater Toronto Area, commonly referred to as the GTA, includes the City of Toronto and the regional municipalities of Durham, Halton, Peel, and York. In total, the region contains 25 urban, suburban, and rural municipalities. The Greater Toronto Area begins in Burlington in Halton Region, and extends along Lake Ontario past downtown Toronto eastward to Clarington in Durham Region. According to the 2021 census, the Census Metropolitan Area (CMA) of Toronto has a total population of 6,202,225. However, the Greater Toronto Area, which is an economic area defined by the Government of Ontario, includes communities which are not included in the CMA as defined by Statistics Canada. Extrapolating the data for all 25 communities in the Greater Toronto Area from the 2021 Census, the total population for the economic region included 6,712,341 people. The Greater Toronto Area is a part of several larger areas in Southern Ontario. The area is also combined with the city of Hamilton to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peer Pressure
Peer pressure is the direct or indirect influence on peers, i.e., members of social groups with similar interests, experiences, or social statuses. Members of a peer group are more likely to influence a person's beliefs, values, and behavior. A group or individual may be encouraged and want to follow their peers by changing their attitudes, values or behaviors to conform to those of the influencing group or individual. For the individual affected by peer pressure, this can have both a positive or negative influence on them. Social groups include both ''membership groups'' in which individuals hold "formal" membership (e.g. political parties, trade unions, schools) and cliques in which membership is less clearly defined. However, a person does not need to be a member or be seeking membership of a group to be affected by peer pressure. An individual can be in a crowd, a group of many cliques, and still be affected by peer pressure. Research suggests that organizations as well ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
