October 2008 
There are 4 blog entries for October 2008.
Sales up 19% in September
…I just finished reading this article in the Calgary Herald a few minutes ago and I found it very interesting how much more the media focuses on the bad news vs. the good news that’s also happening.
The head lines says “Housing starts set for 37% tumble” Well, it makes sense for builder to cut back from an unprecedented, record year production. Unfortunately majority of the people will stop reading at this point and head off to the coffee machines to tell everyone that that sky’s falling.
If someone were to take their time and actually keep on reading then they would discover the good news that is” In another report released Thursday, the Canadian Real Estate Association said MLS residential sales in Alberta increased by nearly 19 per…
BANK OF CANADA RATE DECREASE
The Bank of Canada announced today that it is lowering its overnight rate by 1/4 percent. Major Banks in Canada traditionally follow and lower their rates accordingly, which would put their prime rates at 4.00%.
The Bank of Canada identified three major areas that will have an impact on our economy. The first is the tightening of global credit conditions and the global financial crunch. Additional concerns are the belief we are experiencing a global recession and the large decrease in commodity prices. These three factors are the reason they have lowered their rate today. The rate decrease is designed to combat a lower than expected inflation in Canada as a result of the above three developments. The July Monetary Report has inflation below the Bank's…
Canada’s MLS ® housing market balance stabilizes in third quarter
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The number of properties listed via the MLS® systems of Canada’s major markets was down from its peak in the third quarter of 2008, according to statistics released by The Canadian Real Estate Association (CREA). This caused the balance of sales-to-new-listings in the market for resale homes to tighten on a quarter-over-quarter basis for the first time since the beginning of 2007. New MLS® residential listings in Canada’s major markets numbered 146,637 units on a seasonally adjusted basis in the third quarter of 2008. This is 3.3 per cent below the highest level on record, set the previous quarter. New listings eased most in Edmonton and Calgary in the third quarter, followed by declines in… |
Central Banks Announce Coordinated Interest Rate Reductions
Throughout the current financial crisis, central banks have engaged in continuous close consultation and have cooperated in unprecedented joint actions such as the provision of liquidity to reduce strains in financial markets.
Inflationary pressures have started to moderate in a number of countries, partly reflecting a marked decline in energy and other commodity prices. Inflation expectations are diminishing and remain anchored to price stability. The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability.
Some easing of global monetary conditions is therefore warranted. Accordingly, the Bank of Canada, the Bank of England, the European Central…
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Last updated on: 2012-02-10 00:18:44
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