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Bank of Canada Still Expects No Rate Increases Until 2023

Published by Dr. Sherry Cooper, Chief Economist, Dominion Lending Centres For the original article, CLICK HERE. The Bank of Canada released its January Monetary Policy Report (MPR), showing they expect to keep overnight interest rates at its “effective lower bound” of 0.25% until 2023 (see chart below). To reinforce this commitment and keep interest rates low across the yield curve, the Bank will continue its Quantitative Easing (QE) program–buying $4 billion of Government of Canada bonds every week until the recovery is well underway. The central bank indicated it could pare purchases once the recovery regains its footing. According to the Bank’s press release, “The Governing Council will hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved. In our projection, this does not happen until into 2023.” Officials are apparently optimistic about the economy’s prospects …
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Canadian Real Estate Association December 2020 National Statistics

National Statistics Record December caps record year for Canadian home sales Ottawa, ON, January 15, 2021 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales set another all-time record in December 2020. SUMMARY: National home sales rose 7.2% on a month-over-month (m-o-m) basis in December. Actual (not seasonally adjusted) activity was up 47.2% year-over-year (y-o-y). The number of newly listed properties climbed 3.4% from November to December. The MLS® Home Price Index (HPI) rose 1.5% m-o-m and was up 13% y-o-y. The actual (not seasonally adjusted) national average sale price posted a 17.1% y-o-y gain in December. Home sales recorded over Canadian MLS® Systems jumped by 7.2% between November and December to set another new all-time record. (Chart A) Seasonally adjusted activity was running at an annualized pace of 714,516 units in December 2020 – the first time on record that monthly sales at seasonally …
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Population of Kitchener-Cambridge-Waterloo increased by 50,000 over past 5 years: StatCan (Global News)

Original Source:  GLOBAL NEWS The combined population of Kitchener, Cambridge and Waterloo is estimated to have grown by 50,000 people over the past five years, according to a report released by Statistics Canada on Thursday. It estimated the population of the tri-cities to be at 593,882 last July, more than 50,000 above the total of 542,034 it estimated for 2016. READ MORE: What Canada’s population will look like in 2036 The three cities grew at a rate of two per cent over that period, which tied them with Halifax for second-fastest in Canada. Oshawa was atop that list and like Kitchener-Cambridge-Waterloo, the CMA figures some of that growth has come from Toronto, where 50,000 people left between July 2019 and July 2020. “The desire to live outside the largest urban centres was also reflected in the rapidly increasing housing costs in neighbouring real estate markets, a trend that has continued in spite of the pandemic,” the report read. …
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Canadian economy lost 63,000 jobs in December

It’s going to be another interesting year to say the least, but with all this change comes the opportunity to try something new or different. Valko Financial Ltd. offers elite-level support to all of our agents and with our heart-centred, community-minded values we are in a position of growth and looking for amazing and ambitious agents across Canada. Visit www.TracyValko.ca for more information. Original Source:  KitchenerToday.com Statistics Canada says the economy lost 63,000 jobs in December in the first monthly decline since April amid tightened public health restrictions to slow a resurgence in the pandemic. The unemployment rate edged up to 8.6 per cent compared with 8.5 per cent in November. The result ended a streak of monthly job gains that began in May as restrictions put in place to slow the spread of the pandemic began to ease. Full-time employment in December rose by 36,500, but there was a …
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Personal Development Books for 2021

“Ask any millionaire, and they will say one of the keys to success is to always learn something new.” Here are four great books for personal development to start 2021 off on the right foot! Atomic Habits by James Clear No matter your goals, Atomic Habits offers a proven framework for improving – every day. James Clear, one of the world’s leading experts on habit formation, reveals practical strategies that will teach you exactly how to form good habits, break bad ones, and master the tiny behaviours that lead to remarkable results. Power of Now by Eckhart Tolle This book takes readers on an inspiring spiritual journey to find their true and deepest self and reach the ultimate in personal growth and spirituality: the discovery of truth and light. The Compound Effect by Darren Hardy This easy-to-use, step-by-step operating system allows you to multiply your success, chart your progress, and achieve …
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Stay connected this winter with virtual activities in Waterloo Region

During these difficult times of being in lockdown, it is more important than ever to look after our wellness. The City of Waterloo is introducing virtual activities for senior residents from cooking lessons to gardening tips! This is an amazing way to maintain a sense of community while connecting with others of similar interests and passions. To learn more about this initiative, check out the full article from Kitchener Today below! ORIGINAL SOURCE: KitchenerToday.com The City of Waterloo is encouraging older residents to stay healthy this winter by offering a virtual series to keep their minds sharp. This follows the city’s fall wellness event, “Staying healthy and well: a virtual series for seniors,” which had 279 residents viewing and participating.  This weekly online series covers a range of topics to encourage physical and mental health in the community’s seniors. Starting next Wednesday and running the same time every week between 1:00 …
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Canadian Jobs Market Tanked in December

  Canadian employment fell 62,600 last month, a bit weaker than expected, following seven months of recovery (see chart below). The rapid rise in COVID cases and the ensuing lockdown measures in many key regions caused the net loss in jobs in the mid-December survey.  Especially hard hit were workers at restaurants and hotels who suffered a hefty 56,700 employment loss.  The jobless rate rose a tick to 8.6%–well below the peak of 13.7% in April–but still three percentage points above its pre-pandemic level. However, there were some bright spots as several sectors churned out small gains (see second chart below).  Among them were finance, insurance and real estate, as well as scientific and tech services. Manufacturing rose 15,400, and public administration reported solid gains. On a positive note, full-time jobs actually rose 36,500, and average wages pushed back up and are now 5.6% higher than one year ago. This outsized gain, …
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New mental health campaign aims to have residents share their silver linings in 2020

We are so proud of the work our agents do professionally and personally – we’re a very community-focused and people-first team.  Jenn Price, you are doing a wonderful job of sharing and encouraging hope.  You KNOW you’ve got our support! ORIGINAL SOURCE:  GuelphToday.com Two women are launching an online campaign to help residents focus on the silver linings they’ve experienced in 2020. Share Your Silver Lining…Save A Life is a mental health initiative encouraging residents to post a positive moment that they experienced this year online through #ShareYourSilverLining.  The creators of the campaign are Claire Knight and Jenn Price, who hope to provide an outlet which will encourage and inspire people who are struggling with mental health. “This is a platform where we’re encouraging people of all  genders and ages to share the positives,” said Knight. Sitting on the board for Suicide Awareness Council, Knight mentions they have seen the effects that …
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Support Local Business – Cambridge Chamber of Commerce Member Restaurant List

Support these fantastic local restaurants by visiting their websites and/or giving them a call! Bookmark your favourites.  Follow their accounts on social.  Share the list.  There are SO many ways to support our community businesses right now ❤️️ Original Source:  Cambridge Chamber of Commerce   Ben Thanh Viet Thai Restaurant 10 Pinebush Rd. Unit #3 Cambridge, ON Visit website   Bingemans 425 Bingemans Centre Dr. Kitchener, ON Visit website     Black Badger, The 55 Water St. N. Cambridge, ON Visit website   Blackshop Restaurant. 595 Hespeler Road Cambridge, ON Visit website     Cafe du Monde Creperie 614 Coronation Blvd. Unit 302 Cambridge, ON Visit website   Cambridge Mill 100 Water St. N. Cambridge, ON Visit website     Cazs Fish & Chip Shoppe 10 Pinebush Rd. Unit #2 Cambridge, ON Visit website   Classic Catering R.R. #1, 1386 Cooper Rd. Cambridge, ON Email for Info     Country Girl Family Restaurant 561 Hespeler …
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Home sales up close to ten per cent in 2020

A fantastic local read from Kitchener Today.           December sales also set a record   Home sales in Waterloo Region finished strong to end 2020. Another record was set in December as 351 properties were sold through the Multiple Listing System, which is a 42 per cent increase compared to December 2019. When you break it down for the year, over 6,400 homes exchanged hands, an increase of nine per cent compared to figures from the previous year. “This marks the sixth consecutive month of record home sales in Kitchener-Waterloo and helps propel 2020’s annual number of transactions over the 6,000-unit threshold for only the third time in our history.” Nicole Pohl, President of the Kitchener-Waterloo Association of Realtors, explained in a news release.   Here’s a breakdown of sales in December:   204 detached homes (up over 46 per cent) 64 freehold townhouses (up 68.4 per cent) 63 …
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