The last few weeks have definitely felt like summer in Canada! Our team is well, and each of us have some holiday booked over the summer months. Taryn is headed to Ireland in mid-July and Pia is going to the East Coast to see her mom. In last month's blog we shared that, Sarah Kilpatrick, our Associate Wealth Advisor was expecting her first child. On Friday June 10th at 11:06pm, Rory Hines was born, weighing 7lbs 13oz. We are thrilled to welcome him as our newest member !! We wish Sarah all the best over the next year.
In celebration of Canada Day, we wanted to share a few Canadian related articles. How to redefine Innovation takes a look at how Canada stands in relation to other counties' ability to innovate. A 2021 Conference Board of Canada report found that Canada ranks 10th on the list of 16 peer countries on the innovation report card, giving us a C grade. As this article suggests, innovation is too important to put off. Whether its climate security or economic prosperity, innovation is key to building a more sustainable future. Canada can play a leading role in the innovation economy, but we need more risk-taking and boldness. Whether it’s product or service innovation, process innovation or a wholesale business model innovation, bold risks are what’s needed for Canada to prosper in “an unforgiving world”—and to build a more sustainable future for all.
In The 10-Minute Take hosted by John Stackhouse and Trinh Theresa, they examine why demand for cash is at its highest in 60 years in Canada and discuss if we will be a cashless society one day.
Canada’s housing market has been a hot button topic. Since the Bank of Canada increased interest rates, Canada’s housing market has begun to cool. Demand-supply conditions remain tight overall but the trend is improving. In some markets (including Toronto, Hamilton, Niagara region, Kitchener-Waterloo and Windsor), the sales-to-new listings ratio even reached balanced-market territory in April. The rebalancing process is taking place predominantly on the demand side with buyers facing more challenging affordability conditions.The full report is here.
Can Canada Feed the World? provides insight to Canada’s ability to help alleviate the global food crisis. However, the constraints on the conversion of land for farming makes expanding production of crops affected by the Ukraine war unlikely in the short-term. The bottom line: boosting fertilizer production is one way Canada can make a difference—but it will demand a careful consideration of the impact on costs and emissions.
Canada's population growth is snapping back since pandemic restrictions were eased. We explore the impact of increase immigration in this article immigration Nation: New Canadians are vital to an aging society. In case you missed it, Kieron recently sat down with Jim Allworth who provided a market update. At the 28 minute mark they dive into a discussion on the important long term trends in demographics and the working age population.
If you are looking for some local Canada Day festivities to enjoy with the family this weekend, here are some ideas.
We hope that everyone has a wonderful long weekend & Happy Canada Day!
Hayes Vickers Private Wealth