Vitamin C is a vital nutrient that offers numerous health benefits. A powerful antioxidant that helps protect the body against damaging free radicals and oxidative stress, vitamin C also supports the immune system by stimulating the production of white blood cells, which help fight infections and diseases.

Additionally, vitamin C plays an important role in the production of collagen, a protein that is essential for healthy skin, bones and connective tissues. It also helps the body absorb iron, which is necessary for the formation of red blood cells. In addition to these benefits, vitamin C might also help reduce the severity and duration of the common cold, lower blood pressure and improve heart health.

It's important to note that our body doesn't produce or store vitamin C, so it's essential to consume it regularly through our diet or supplements. To get the most benefits from vitamin C, consume a diet rich in fruits and vegetables or take supplements as advised by a healthcare professional.

Housing demand impact of record-high immigration is five times as large as the Foreign Buyers Ban: report 

Vancouver, BC – March, 2023. To fully offset a deterioration in housing affordability, new home completions in BC need to increase 25 per cent above their historical average level for the next five years to a record level of about 43,000 completions per year, a new report has revealed.
 
According to the latest Market Intelligence report from the BC Real Estate Association (BCREA), two significant federal government policies – the Foreign Buyers Ban and record-high immigration targets – will shape housing demand in BC over the next three years. 

Summary Findings:

• There is weak evidence that Canada’s Foreign Buyers Ban will achieve its objective of lowering home prices, with an estimated reduction in home sales of 2,400 units in BC over the two-year ban.

• BC will welcome an estimated 217,500 new permanent residents from 2023 to 2025 or 100,500 more new permanent residents than would be expected based on historical average immigration levels. This translates to a 20,500-unit increase in housing demand from new permanent residents.

The demand impact of the increase in immigration is approximately five times as large as the Foreign Buyers Ban and is estimated to place significant upward pressure on home prices. 

                                                          Read the Report

“Lowering price growth so that income growth can catch up to prices is integral to improving housing affordability in BC,” says Brendon Ogmundson, BCREA Chief Economist. “In our simulations, an appropriate supply response can offset the negative impact on affordability from an immigration-driven demand shock and if sustained, can achieve a permanent improvement in affordability in BC.  

Immigration plays a vital role in the economy by supporting economic growth, creating job opportunities, and bringing diversity to communities. However, as detailed in this report, immigration also adds significantly to housing demand. As the population continues to grow and global migration patterns persist, it is essential to create policies and programs that support and welcome immigrants while addressing the consequent pressures on an already stressed housing market.
 
“To ease the pressure on the housing market that arises from sudden changes in housing demand, governments can take steps to increase housing supply,” Ogmundson adds, “This can include zoning changes to allow for more housing construction, increasing funding for affordable housing programs, and providing incentives for developers to build more housing units.”

The BCREA Housing Monitor Dashboard has been updated with the latest data up to March 27, 2023. Click here to access the latest dashboard.

For more information, please contact: Gino Pezzani.

Canadian seasonally-adjusted retail sales rose 1.4 per cent in January to $66.4 billion. Sales rose in 7 of 9 subsectors, but were led by higher sales at motor vehicle and parts dealers (+3 per cent) and gasoline and fuel vendors (+2.9 per cent). Core retail sales, which strips out gasoline and motor vehicle and parts dealers, rose 0.5 per cent. In volume terms, sales rose 1.5 per cent in January. As of January 2023, Statistics Canada broadened and modified its definition of Retail Trade, making the current series not precisely comparable with the previous series.

In BC, seasonally-adjusted sales rose 1.8 per cent in January. Compared to the same month last year, retail sales were up 3.3 per cent in the province. In the Greater Vancouver region, sales rose 3.4 per cent month-over-month and were up 3.2 per cent year-over-year. 

Link: https://mailchi.mp/bcrea/canadian-retail-sales-january-2023-march-24-2023

For more information, please contact: Gino Pezzani.

April Fools Day, April 1. Prank or be pranked on this day of fun!

World Autism Awareness Day, April 2. Established to increase understanding and acceptance of people with autism and to foster worldwide support.

Groundhog's Day, April 2. Will Punxsutawney Phil see his shadow?

National Sibling Day, April 10. A day to appreciate and cherish your brothers and sisters.

National Jelly Bean Day, April 22. Indulge in your favorite Jelly Bean flavor - and why not share them with your friends and coworkers?

You hear it often: That person was “lucky” in business. Or those people are “more fortunate” than others. But what role does luck really play in success? Psychologists at Stanford University say certain attitudes seem to lead to “good luck” and success in life.

1. An open mind. Think of life as a garden of possibilities. Be curious.

2. Persistence. Everyone has ups and downs in work and life. If you persistently follow your goals and deal with disappointment, then you will do well.

3. Flexibility. Though you have a specific goal in mind, be open to variations and new ideas.

4. Positive thinking. Look at a painful experience and, instead of focusing on what you lost, calculate what you gained.

5.Risk taking, whether it's in your personal life or at work, will make you more resilient.

Meanwhile, certain values also play a role in a person's “luck.” A recent survey by Robert Half staffing shows that honesty might be the most-valuable asset in creating opportunity.

Employers told interviewers that honesty was the top requirement for new hires. The same is true for those seeking a better job within an organization. 

Of the employers interviewed, 58 percent said the qualities that impress them most, aside from ability and willingness to do the job, are honesty and integrity. That is an increase of 26 percent compared to five years ago.

To view the March 2023 Mortgage Rate Forecast PDF, click here.

Highlights:

• Economic uncertainty driving substantial volatility in Canadian bond markets.

• Is the Canadian economy just slowing or something worse?

• Inflation trending the right direction, will that be enough to keep the Bank of Canada on hold? 

For more information, please contact: Gino Pezzani.

Canadian prices, as measured by the Consumer Price Index (CPI), rose 5.2 per cent on a year-over-year basis in February, a decrease from the 5.9 per cent rate in January. This large drop was mostly due to base year effects, as inflation increased strongly this month last year. Grocery prices continue to rise too-quickly, up 10.6 per cent from last year, the seventh consecutive month of double-digit annual price growth. Mortgage interest costs were up 23.9 per cent year-over-year, the fastest pace since 1982, as Canadians renewed or initiated higher-rate mortgages. In contrast, the Homeowner's Replacement Cost, which tracks home prices, continued to slow, increasing 3.3 per cent year-over-year in February, down from 4.3 per cent in January. Month-over-month, on a seasonally-adjusted basis, prices were up 0.1 per cent in February. In BC, consumer prices rose 6.2 per cent year-over-year.

There continue to be encouraging signs that the bout of rapid price appreciation that began in February of last year is waning. Although food prices continue to rise quickly, most other categories in the index are trending back toward normal price trends. The Bank of Canada's measures of core inflation, which strip out volatile components, each ticked downwards for a third month in a row. The three-month annualized change in seasonally-adjusted CPI is now well within the bank's 1-3 per cent target range, hitting 1.6 per cent in February. Although price appreciation may be moderating, it is still well above the Bank of Canada's 2 per cent target, and while the Bank has announced a conditional pause on further rate hikes, they could change course if inflation does not continue to cool. 

Link: https://mailchi.mp/bcrea/canadian-inflation-february-2023

For more information, please contact: Gino Pezzani.

Brightly colored fruits and vegetables get their color from flavanols, which are also found in tea and cocoa.

A small study, reported in Scientific Reports in November 2020, suggests that flavanols increase blood flow to the brain and oxygen uptake that increases the ability to solve problems.

In fact, the results are quick. In the study, people who had faster brain oxygenation after consuming high amounts of flavanols scored higher on cognitive tests and solved problems 11 percent faster. That was just two hours after consuming the flavanols.