Daily Market Update

by REP16 Dec 2014
Vancouver political party in hot water over real estate donation
A Vancouver political party is in hot water after failing to disclose a campaign contribution from a commercial real estate company. The Coalition of Progressive Electors (COPE) allegedly accepted $12,500, $3,000 from the Canreal Management Company and another $9,500 from the company's president. Read the full story here.

Home prices up 6% in CREA report
Figures from the Canadian Real Estate Association show that the average price of a Canadian home sold in November was more than $413,000, an increase of 5.7 per cent over the previous 12 months. With oil prices continuing to fall, analysts are unsure how it will affect home prices, especially in Alberta. Read the full story.

Canadian-based Manulife invest in U.S. commercial real estate
In what's being seen as a big power play, Manulife Asset Management Private Markets has entered into an arrangement with Allianz to co-invest up to $1 billion in U.S. real estate.  In partnership with Allianz, the Canadian-based financial services company will seek to invest in additional high-quality office properties in U.S. cities with a population between 35,000 and 250,000. Read the full story.

StatCan: Household debt to disposable income figure a record
According to Statistics Canada, household total credit-market debt (mortgages, consumer credit and non-mortgage loans) rose to 162.6 per cent of disposable income in the quarter, as consumers’ continued borrowing for home purchases outweighed the tepid growth in their disposable incomes. It’s the biggest debt-to-disposable-income figure on record for Canada. Find out what this means for realtors. Read the full story.

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