canada

Multi-million dollar homes in Edmonton could face a ‘mansion tax’ in 2023 – Edmonton

Owning a multi-million dollar home with a luxury pool or movie room can pay off in many ways. But come next year, owning a mansion in Edmonton could lead to paying more in property taxes. “Right now, whether you live in a $300,000 house, a $3-million house or a $12-million house, you pay the same …

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Rising rates and cooling market increase financial risk of home renovations

Hillary and Andrew Strack-Cheng with their kids Leland and Juniper in their home on June 22.Cole Burston/The Globe and Mail Home renovations can be unpredictable and anxiety-laden at the best of times. But soaring costs, rising interest rates, cooling home prices and uncertainty about Canada’s economic outlook are increasing the financial risks associated with a …

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Nearly half of Canadian tenants will continue to rent indefinitely: survey – National

Almost half of Canadians who rent expect to continue doing so indefinitely and aren’t sure when they’ll be able to get into the housing market, says a new survey. Renters surveyed by insurance firm Canada Life cited a lack of cash, fear and uncertainty as reasons for staying on the sidelines, with almost 73 per …

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Rising interest rates have brought back the 5 per cent GIC

We’ve hit a milestone in conservative investing – a 5 per cent return from guaranteed investment certificates. Oaken Financial, an online player in financial services, says it will offer 5 per cent for a five-year term starting Friday. The new rate for the one-year term seems a milestone as well: 4.05 per cent. Rising interest …

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Bank of Canada needs more restrictive interest rates to control runaway inflation

People shop at a Walmart Supercentre in Toronto on March 13, 2020. Canadian inflation accelerated to the highest rate in nearly four decades in May as calls broaden for policy-makers to find new ways of curbing runaway price growth.CARLOS OSORIO/Reuters With every new inflation report, the job facing the Bank of Canada gets that much …

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Bank of Canada says high inflation ‘keeping us up at night’

Bank of Canada Senior Deputy Governor Carolyn Rogers said on Wednesday that inflation in Canada was much too high and did not rule out a 75-basis-point increase at the central bank’s July decision. “We know inflation is keeping Canadians up at night. It’s keeping us up at night,” Rogers said at an event organized by …

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Record players and not-so-smart phones: What the rise of retro tech says about us

Colin Ellis prefers to carry his Razr flip phone when he goes out for walks instead of his smart phone. It lets him disconnect but still be reachable in case of emergency.JENNA MARIE WAKANI/The Globe and Mail Recently, when my partner and I were shopping around for bookshelves, it was hard not to notice that …

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Cineplex $1.50 booking fee for online adds ticket purchases to ‘further invest’ in digital infrastructure

People purchase tickets at a kiosk at Queensway Cineplex Cinemas, in Toronto, on Aug. 18, 2020.Melissa Tait/The Globe and Mail As Canadian moviegoers return to the cinema for the first real summer movie season in three years, some customers of the country’s largest theater chain will notice an unwelcome new charge tacked onto the cost …

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What we learned about energy efficiency after driving some of Canada’s greenest vehicles

A Volvo C40 Recharge charging outside a hotel during the 2022 Eco Run.The Globe and Mail Over two days recently, 15 vehicles traveled almost 800 kilometers through Ontario, and all 15 together consumed about the same amount of gasoline as would three regular full-size pickups over the same distance. The occasion was the Automobile Journalists …

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Higher rates but less inflation panic: What CIBC’s Benjamin Tal is predicting for stocks, home prices and the economy

Benjamin Tal, deputy chief economist at CIBC Capital Markets, in Toronto on June 7, 2019.Tijana Martin/The Globe and Mail Mounting fears of a recession have gripped equity markets, with the S&P/TSX Composite Index now firmly in correction territory. The S&P/TSX is down 13 per cent from its record closing high of 22,087, reached on March …

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