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We’ve got a lot to cover in today’s newsletter — from real estate moves and political shakeups to investment trends shaping the Canadian economy. You’ll find a roundup of the most important stories below to keep you in the loop.
But before you scroll, here’s the real headline: the addy wallet relaunch is just around the corner. To make sure your account is ready for what’s coming;
✅ Ensure your ID is verified ✅ Your bank account is connected ✅ Your two-factor authentication is enabled
Have a great week! |
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PS. The Chilliwack Starbucks has reportedly been sold. While we’re still waiting on full details, the General Partner has confirmed that they have an ‘unconditional sale contract’. More updates will follow soon. For those who may not know, the Chilliwack Starbucks was the 2nd property ever launched on the addy platform—and the very 1st commercial property. More details soon! |
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PPS. Subscribe to the addy Podcast to catch upcoming episodes dropping soon. (Apple, Spotify, YouTube) |
🏦 Monetary Policy |
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Bank of Canada hoping for better look at ’complicated’ inflation picture The consensus among economists is that inflation ticked up to 1.8% year-over-year last month (Financial Post) Related: Inflation unchanged at 1.7% in May as rental price growth slowed (CBC) |
🏠 Real Estate News |
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Victoria Unveils Modernized Parking Regulations To Support Development Changes the City of Victoria are proposing include removing or reducing minimum parking requirements for different types of housing developments. (Storeys) |
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Bryan Yu: B.C. manufacturing, construction see declines amid headwinds A third straight month of declining factory sales and a plunge in building permits point to mounting economic pressures in British Columbia (Western Investor) |
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StatCan says two-bedroom asking rents highest in Vancouver in Q1 Statistics Canada says Vancouver saw the highest average asking rent for a two-bedroom apartment in the first quarter. The average asking price in B.C.’s largest city for a two-bedroom unit was $3,170, down from $3,440 in the first quarter of 2024. (Western Investor) |
🤖 AI |
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This is where Canada ranks among the least AI literate countries in the world As countries around the world race to leverage artificial intelligence (AI), a recent study found that Canada is falling behind. One expert says the decline is not due to a lack of innovation, but growing uncertainty and a gap in public understanding. Stephanie Terrill, managing partner of digital at KPMG Canada, said many Canadians are not embracing the use of AI in their daily working lives. (BNN) |
🏙️ Politics |
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Trade clarity to help Canada’s economy rebound after modest recession: Deloitte Some economists are putting an increasingly optimistic slant on Canada’s tariff dispute with the United States, arguing the economy should be able to avoid “worst-case” scenarios from the trade war. That doesn’t mean the Canadian economy gets off scot-free — a new forecast published by Deloitte Canada on Wednesday calls for a modest recession to hit in the second and third quarters of the year as uncertainty and weakness caused by tariffs start to bite. (BNN) |
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Canada announces new, strengthened partnership with the European Union the Prime Minister, Mark Carney, announced an historic step forward for Canada’s relationship with the European Union (EU). Together with President Costa and President von der Leyen, the Prime Minister announced they will forge a new, ambitious, and comprehensive partnership. (Government of Canada) |
🎧 Podcast |
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Jon Love, Founder of KingSett Capital We sat down with Jon Love, the Founder and Executive Chair of KingSett Capital, one of Canada’s premier private equity real estate investment firms managing over $18 billion in assets. Before founding KingSett, Jon served as CEO of Oxford Properties, a company originally founded by his father, where he led the firm for over a decade, cementing his legacy as a leader in Canadian real estate. (Video/Audio) Related: Jon Love: The housing crisis has a simple solution — and it doesn’t involve yet another government program (Financial Post) |
What did you think of today’s newsletter? 🤔This newsletter was thoughtfully crafted by AI 🤖 and reviewed by Stephen—tell us what you think! ✨ Was this email forwarded to you? If you would like to receive this content in our twice-weekly newsletter, on Sundays and Wednesdays, please feel free to subscribe for yourself. 🙏 |
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