Jan. 25, 2019

CANADA’S HOUSING AFFORDABILITY – NATIONAL BANK FINANCIAL JANUARY 2019

  • Q4 affordability worsened for a 14th consecutive quarter
    • Only 2 cities improved (Calgary and Edmonton)
  • Vancouver affordability deteriorating; house prices dropped but were offset by higher mortgage rates and declining median annual income
  • Time required to save for a 10% down payment increased to:
    • Vancouver 340 months
    • Toronto 102 months
    • Montreal 34 months
    • Calgary and Edmonton declined to 23 and 33 months respectively
  • Edmonton average prices: non-condo $422,508; condo $231,117.
    • Annual qualifying income: non-condo $77,563; condo $42,428
  • Toronto metro average prices: non-condo $902,916; condo $536,082.
    • Annual qualifying income: non-condo $165,755; condo $98,413

WHY IT’S A COLOSSAL COP-OUT TO KEEP BLAMING CANADA’S EMISSIONS ON ALBERTA – NATIONAL POST JANUARY 24, 2019

  • Victoria, BC is launching a class action lawsuit against the oil and gas sector as the last salvo to singularly blame the oil industry for climate change while ignoring the millions of daily consumer choices.
  • Victoria is Canada’s busiest cruise ship port of call with more than 200 cruise ship visits per year bringing in approximately $130 million annually.
    • The average cruise ship passenger is racking up a carbon bill of 0.82 tonnes of carbon dioxide, roughly the same as a trans-Atlantic flight
    • European Committee on Transport and Tourism estimates that a cruise ship passenger does about $0.36 environmental damage for every km they travel.
  • Victoria just opened a dedicated marina for mega-yachts.
  • Westshore Terminals facility in Delta, BC is the largest single coal export facility in North America. BC’s main export commodity is coal ($3.32 billion worth in 2016).
    • Carbon dioxide footprint from the facility is larger than BC as a whole; about 99.8 million tonnes annually
  • Whistler hosts more than 3,000,000 visitors per year with more than 22,000 cars travelling the Sea to Sky highway each day.
    • 15.5% of residential property is owned by people who must travel vast distances
    • 90% of the world’s heli-skiing happens in BC
  • Canadian orders for Amazon’s free one-day shipping jumped more than 100% in Christmas 2018.
  • 57.5% of Toronto commuters still drive to work.
  • Canadians are buying more cars with vehicle ownership now at 88% vs 70% 20 years ago.
    • SUV’s represent 69% of 2017 sales vs 45% in 2007