Want to work out but feel too tired due to the summer heat? Try these tips before you begin your workout to help you stay motivated!

Choose the right time of day. Try to exercise early in the morning or late in the evening, when it's cooler and more comfortable.

Stay hydrated. Drink plenty of water before, during and after your workout to prevent dehydration and keep your body functioning optimally.

Wear appropriate clothing. Choose lightweight, breathable clothing that will keep you cool and comfortable during your workout. 

Find a workout buddy. Exercising with a friend or family member can help you stay motivated and accountable, and make your workouts more enjoyable.

Mix it up. To maintain your interest and prevent boredom, try different types of exercises, such as swimming, rollerskating, biking or yoga.

To view the full Commercial Leading Indicator PDF, click here.

In the first quarter of 2023, the BCREA Commercial Leading Indicator (CLI) held steady at 148, while the six-month moving average continued its downward trajectory to 149. Compared to the same quarter in 2022, the index was down by 5 per cent.

It is important to note that the environment for commercial real estate remains highly abnormal and uncertain. The CLI is designed to interpret economic and office employment growth as positive indicators for commercial real estate demand. However, the recent strong growth in these indicators may not translate as readily into improved commercial real estate market conditions due to structural changes in the economy caused by the COVID-19 pandemic. 

The CLI held steady due to an improvement in the financial component, completely offsetting a decline in employment, while the economic component was essentially unchanged. Spreads between corporate and government borrowing costs declined in the first quarter while Real Estate Investment Trust (REIT) prices rose, strengthening the financial component of the index. In contrast, the employment component of the index fell due to declines in both office employment (finance, insurance, and real estate) as well as manufacturing employment. Finally, the economic component of the index was essentially unchanged as rising wholesale trade was entirely offset by declining inflation-adjusted retail sales and manufacturing sales. 

For more information, please contact: Gino Pezzani.

Canadian real GDP was flat in March. Service-producing industries were unchanged from the prior month which goods producing industries edged down 0.1 per cent. Canadian real GDP is now roughly 3.6 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy rose 0.2 per cent in April.

GDP grew 0.8 per cent in the first quarter of 2023, following roughly zero growth in the previous quarter. Almost all of this growth was concentrated in the month of January. Goods-producing sectors rose 0.1 per cent while services-producing sectors rose 0.9 per cent. The public sector (educational services, health care and social assistance, and public administration) was the largest contributor to growth for the third consecutive quarter. Exports rose 2.4 per cent in the first quarter, while imports rose just 0.2 per cent, spurring growth. Higher household spending on goods (1.5 per cent) and services (1.3 per cent) also pushed GDP upwards. Higher borrowing costs, meanwhile, caused housing investment to fall 3.9 per cent in the first quarter, with new construction (-6.0 per cent), renovations (-2.1 per cent), and ownership transfer costs (-1.5 per cent) all declining. Compensation of employees rose 1.7 per cent from the prior quarter, but disposable income nevertheless fell 1 per cent largely as a result of lower government transfers compared to last quarter. 

Canadian GDP outpaced expectations in the first quarter, expanding 3.1 per cent on an annualized basis. Following over a year of rate hikes from the Bank of Canada, the economy remains robust in many areas. A burst of economic growth at the start of the year supported a high first quarter growth rate, but April's preliminary GDP estimate shows growth continuing into the second quarter. Although housing markets swooned in the immediate aftermath of rate hikes, in recent months they have shown signs of a solid recovery. At 5 per cent, the Canadian unemployment rate remains near record lows. Meanwhile, inflation remains hot, with the year-over-year rate increasing to 4.4 per cent in April from 4.3 per cent in March. These indicators will put some pressure on the central bank to potentially change course following its 'conditional pause' on further rate hikes as of January. The Bank's rate decision next Wednesday will need to balance persistently hot numbers with the risk of overtightening given the long lags of monetary policy. 

Link: https://mailchi.mp/bcrea/canadian-economic-growth-real-gdp-q12023

For more information, please contact: Gino Pezzani.

June is a peculiar month, unlike any of the other months of the year. Mostly free of big holidays associated with indulgent behavior like devouring candies and costumes, June is famous for Father's Day, when we celebrate fatherhood and paternal relationships. However, tracing the origin of the word "father" down to the Latin word "Pater," we find patronage, which is a beautiful idea of supporting someone in their endeavors to make the world a better place.

Becoming someone's patron can come in different forms, ranging from being a booster at a local store to donations as an arts patron. People can also become community patrons, initiating programs that promote involvement, education, or entertainment for the common good of schools or other local organizations.

It's crucial to have a tribe or a trusted group of people that share personal and professional goals. Sometimes, being the tribe's center requires one to act as a patron, overseeing support to bring the tribe's causes to fruition.

As we find ourselves halfway through 2023, this is a good time to contemplate who we can include in our tribes and how we can connect people, forge alliances and make the world a better place. Finding purpose and causes to which one can dedicate their lives is a daunting task, but with dedication and direction, it's achievable… and extremely rewarding!

Summer offers us the perfect opportunity to spend time with friends and family, take advantage of the warm weather, and develop a plan to make a difference. Let June be the month where we find purpose, become patrons for what matters to us, and move forward with conviction and optimism.

Onward, and upwards!

Sincerely,

Gino Pezzani

The home owner grant reduces the amount of property tax you pay for your principal residence.

The grant is available to homeowners who pay property taxes to a municipality, or to the province if they live in a rural area. If you pay your property taxes to a First Nation, contact the First Nation directly.

Apply for your grant.

HOME OWNER GRANT APPLICATION

Throughout the year I like to do a little something special for my friends, family and amazing clients. It’s just my way of continuing to say thank you for helping me build my business and serve my community.

Now is the perfect time of year to tackle your outdoor projects, so I created a handout called 11 Landscaping Projects Anyone Can Do that I'd love to share with you.

This handout is filled with simple and effective ways to enhance your outdoor space and increase the value of your home. And I’ve included projects for all budgets!