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Posthaste: Slowing population growth will drag on Canada’s housing market through 2021

Good Morning!The coronavirus pandemic has slammed the brakes on Canada’s population growth and that may be a ticking time bomb for our housing market.A new study by TD Economics downgrades its outlook for the housing market from its April forecast and predicts that Canadian home price growth will slow in the second half of this…

Posthaste: How to pay for the ballooning federal debt? Lower income taxes — but raise others

Good morning! Canada’s federal and provincial governments should consider raising consumption taxes and introducing digital taxes, while at the same time marginally reducing personal and corporate income tax rates to bring down the COVID-induced debt that they have accumulated these past few months, according to a new report. “Increasing consumption taxes and adding digital taxes…

Posthaste: Welcome to our world — oil and gas pipelines in U.S. face full-blown assault from all sides

Good morning! It’s curious that Warren Buffett chose an old-school sector — natural gas — to come out of his M&A hibernation. On Monday, the Oracle of Omaha’s Berkshire Hathaway Inc. bought Dominion Energy Inc.’s natural gas pipeline and storage assets in the United States for US$9.7 billion. It showed the so-called master of value…

Posthaste: Why Ottawa’s fiscal ‘snapshot’ is unlikely to allay businesses’ biggest concerns

Good morning! Ottawa will unveil a ‘fiscal snapshot’ on Wednesday that will assess the country’s fiscal situation in light of the pandemic that has wrecked economic activity. Most analysts don’t believe the government will unveil a detailed plan, though. After all, it’s not a budget. “Ottawa will release its first post-Covid deficit projections, but it’s…

Posthaste: There’s a hidden ‘third wave’ of the coronavirus pandemic — and it’s already here

Good Morning,More than half a million people have already died from COVID-19’s global scourge, but the pandemic is taking another toll in a “hidden third wave.” And no one is counting these deaths.In their rush to curb and treat the virus, nations are unintentionally neglecting people suffering from other health conditions, the World Economic Forum…

Posthaste: Three recessions under their belt, are millennials the unluckiest generation?

Good Morning!Pity the millennials. Of all living generations, people born between 1980 and 1994 have faced exceptional economic uncertainty.The 2020 coronavirus-driven recession ushers in the third serious downturn in their working careers.“Many millennials — if not most — entered the job market during one of these recent recessions, struggling to find work and build a…

Posthaste: Grocers won’t absorb higher costs forever — brace yourself for food inflation

Canadian grocers have done a decent job of capping food prices for now — but they won’t do so for much longer as the worst phase of the pandemic recedes. “The current food inflation rate is at 3.4 per cent and could reach 4 per cent by year’s end,” said Sylvain Charlebois, senior director at…

Posthaste: It’s not just Chesapeake — these Canadian oil and gas companies are in trouble too

Good morning! Chesapeake Energy Corp. is the depressed oil market’s latest victim — but it likely won’t be the last. On Sunday, the company filed for Chapter 11 to become the largest American oil and gas producer to seek bankruptcy protection in recent years, as the pandemic and heavy debt levels weighed on the company.…

Posthaste: Buying a home in Canada may be about to get more affordable

Good Morning!Home affordability was declining in Canada early this year, but then the coronavirus hit and changed everything.Sales plummeted under two months of government lockdowns. Now as buyers and sellers slowly return, activity is picking up, but for how long?In a study this week, RBC senior economist Robert Hogue said the housing market’s road to…

Posthaste: Enjoying the market rally? Here’s why major investors think we are poised for at least a 10% pullback

Good morning! Stock markets have been surging lately, but this morning U.S. stock futures portend a pause or perhaps the start of a sustained decline. Which makes the RBC Capital Markets’ latest poll of institutional investor sentiment all the more timely. Between June 15 to 22, RBC surveyed more than 100 deep-pocketed institutional investors based…

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