Emily Vu, Personal Real Estate Corporation

The U.S. Federal Reserve held interest rates steady at 5.3% and projected just one rate cut in 2024 despite recent inflation easing. This forecast is down from a previous expectation of three cuts, as inflation remains higher than desired. The Fed aims to balance slowing inflation without harming economic growth.

For more detail: https://www.cbc.ca/news/business/fed-interest-rates-june-2024-1.7232727

61% of Gen Z respondents would choose pets over children

A new report highlights
How younger Canadians are prioritizing homeownership and pets over weddings and children due to the high cost of living. While homeownership is a primary goal for 73% of Gen Z Canadians, 61% are unsure if they can afford it. In contrast, 42% see marriage as an important goal, with 41% deeming it necessary.

The cost to raise a child in Canada is approximately $293,000 from birth to age 17, while owning a dog can cost up...

1. The Bank of Canada reduced its target for the overnight rate to 4,75%, with the Bank Rate at 5% and the deposit rate at 4,75%.

2. The Bank maintains its policy of balance sheet normalization.

3. Globally, the economy grew by about 3% in the first quarter of 2024, with varying performance across regions.

4. In Canada, economic growth resumed in the first quarter, albeit slower than forecasted.

5. Canada saw solid consumption growth and increased business investment and housing activity.

6. CPI inflation eased further...

In May 2024, the Metro Vancouver real estate market experienced a decline in the number of transactions compared to typical seasonal patterns. Greater Vancouver REALTORS® reported a total of 2,733 residential sales, marking a 19.9% decrease from May 2023 and a 19.6% decrease from the 10-year average for May. Factors influencing this trend include higher borrowing costs, economic concerns, and government policy interventions. Despite a 12.6% increase in new property listings compared to May 2023, the...