Weekly Address April 17th Edition

The Federal Budget was released yesterday and there is lots of chatter online and in the media about it. Also the video from the Kevin Falcon event is up along with a couple quick property updates. Let’s go! 

Today’s reading time is 3½ minutes. 

🇨🇦 Federal Budget 🇨🇦

Budget 2024 – The Federal Budget 

What is the Canadian Federal Budget?
The Canadian federal budget is a financial plan presented annually by the government to outline its anticipated revenues and expenditures for the upcoming fiscal year. 

It includes projections for government spending on various programs, services, infrastructure, and initiatives, as well as estimates of revenue from taxes and other sources. The budget also often outlines the government’s economic priorities, fiscal policies, and forecasts for key economic indicators. It is an important document that provides transparency and accountability in government finances and guides decision-making on resource allocation and economic management.

The budget in the news:

• Budget 2024: Key numbers from the Liberals’ latest spending plan
• Housing, corporation taxation: What the latest federal budget means for Calgary
• Federal budget borrows big from B.C. with new ‘Canada Builds’ housing plan
• Alberta reacts to federal budget
• How are British Columbians affected by the federal budget’s housing focus?

Event Recap w/ BC United Leader Kevin Falcon

Monday night marked an exciting evening in downtown Vancouver as the Terminal City Club played host to a gathering featuring Kevin Falcon, the Official Opposition Leader for the BC United Party. The event drew in a diverse crowd, including real estate investors, business magnates, and members of the addy community. (Watch)

📰 Industry News

Odds Rise For June Interest Rate Cut Despite Uptick In Inflation

“Financial markets had been thinking there was a 50/50 chance of a June cut before today’s data, but that probability rose to around 65% following the benign March CPI data release.” (Storeys)

B.C. construction sector seeks support as workers shortage, late payments persist

British Columbia’s construction industry says its workforce numbers have improved in recent years, but persistent labour shortages are putting “extreme pressures” on employers. (Western Investor)

Interest in multi-unit homes leads to rise in Toronto housing starts: CMHC

Toronto saw a rise in housing starts last month compared to the same time last year, while overall Ontario saw a drop in starts, according to a new report from the Canada Mortgage and Housing Corporation. (Toronto Star)

👀 Property Updates

The Cambie Apartments
“We’ve increased revenues, decreased expenses and made some minor improvements. The building is going very well.” – Keith Roy, General Partner

Oliver United Apartments
“We continue to wait on final approval for building permit. Been lining up local trades. Looking forward to starting construction soon.” – Cameron Rogers, General Partner