Canada's inflation rate came in higher than expected in May, halting a string of good reports since the start of the year. The Bank of Canada's preferred measures of core inflation, CPI median and CPI trim, jumped back above the 2 per cent target when measured on a 3-month annualized basis. Food prices ticked up sharply last month after remaining flat or declining in every prior month since the start of the year. Rents remain the most troubling component of the CPI bundle, and still show no signs of slowing down. Rents rose 9.3 percent over the last 4 months on an annualized basis. While one month does not make a trend, the probability of an additional rate cut by the Bank of Canada in July declined following the report. The Bank will be watching the forthcoming employment and GDP reports closely to guide its decision prior to the next announcement on Wednesday, July 24th. 

Link: https://mailchi.mp/bcrea/canadian-inflation-may-2024-june-25-2024

For more information, please contact: Gino Pezzani.

In the dashboard, the image and data are available for download under each chart, where possible.

For more information, please contact: Gino Pezzani.

Ingredients:

1 cup fresh spinach leaves: packed with vitamins A, C, and K.

1/2 avocado: rich in healthy fats, fiber, and B vitamins.

1/4 cup sliced cucumber: hydrating and add a refreshing taste without added sugars.

1/2 green apple: has less sugar than their red counterparts and add a nice, tart flavor along with extra fiber.

1 tablespoon chia seeds: great source of omega-3 fatty acids, fiber and protein.

1 tablespoon flaxseeds: high in omega-3 fatty acids and antioxidants.

1 cup unsweetened almond milk (or any plant-based milk): a low-calorie, sugar-free liquid base that adds creaminess without dairy.

Prepare the Ingredients: Wash the spinach leaves, cucumber, and green apple thoroughly. Cut the avocado in half, remove the pit, and scoop out the flesh. Core and slice the green apple. Slice the cucumber.

Blend the Greens: Add the spinach, avocado, cucumber, and green apple to a blender. Blend on high until the mixture starts to become smooth.

Add Remaining Ingredients to the Blender: Add the chia seeds, flaxseeds, and almond milk. Blend again until the mixture is completely smooth. If the smoothie is too thick, you can add a little more almond milk to reach your desired consistency.

Enjoy: Pour the smoothie into a large glass and enjoy immediately for the best flavor and nutrient retention.

This smoothie combines hydrating and fiber-rich ingredients with healthy fats and proteins to keep you full and energized. It's a perfect way to start your day or as a refreshing post- workout recovery drink. Enjoy your healthy, low-sugar, high-fiber summer treat!

The warm nights of June offer a canvas for celestial wonders, which are perfect for avid and casual stargazers. Here's a concise guide for not-to-miss sky-gazing opportunities, validated by leading astronomical sources.

The Bootids Meteor Shower Peak: Around June 27th, the Bootids could surprise with more than the usual five to 10 meteors per hour, advises the International Meteor Organization. It is best viewed in dark skies post-midnight, according to Planetary Showcase.

Jupiter and Venus: These planets light up the early June dawn. Watch for their close encounter mid-month, a visual treat according to NASA.

Saturn at Opposition: With a small telescope, catch Saturn and its rings as it brightens in mid-June, making it a prime viewing target, as noted by the American Astronomical Society.

Summer Triangle: Vega, Deneb and Altair form one of the summer's celestial highlights.

Stargazing Tips

Darkness Is Key: Use light pollution maps to find the darkest viewing spots.

Adjust Your Eyes: Allow 15 minutes for your eyes to adapt to the dark.

Use App Assistance: Choose stargazing apps carefully to maintain night vision.

The June 2024 sky is ripe for exploration, with meteor showers, planetary alignments, and the Milky Way's splendor. Supported by insights from the International Meteor Organization, NASA, and the American Astronomical Society.

To view the full interactive BCREA Housing Forecast, click here.
Download the full report (PDF)

Highlights:

• Despite the Bank of Canada lowering its policy rate, fixed mortgage rates may not drop significantly as markets have already priced in the expected rate cuts.

• Canada faces a weak economic outlook and a softening labour market, but growth is expected to pick-up in 2025.

After the Bank's rate cut in June, what comes next? 

For more information, please contact: Gino Pezzani.

Canadian retail sales rose 0.7 per cent to $66.8 billion in April. Excluding volatile items, sales were up 1.4 per cent on a month-over-month basis. In volume terms, adjusted for rising prices, retail sales rose 0.5 per cent in April.

Retail sales in BC were up by 1.3 per cent in April and up by 2.2 per cent from the same time last year. In the CMA of Vancouver, retail sales were up 0.4 per cent from the prior month and were up 2.5 from April 2023. 

Link: https://mailchi.mp/bcrea/canadian-retail-sales-april-2024-june-21-2024

For more information, please contact: Gino Pezzani.

Canadian housing starts rose 10 per cent to 264,506 units in May at a seasonally adjusted annual rate (SAAR). Starts were up 35 per cent from the same month last year. Single-detached housing starts were largely unchanged from last month at 54,410 units, while multi-family and others rose 13 per cent to 210,093 units (SAAR). 

In British Columbia, starts fell 15 per cent from last month to 46,507 units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 7 per cent to 4,360 units while multi-family starts dropped 18 per cent to 39,959 units. Starts in the province were 14 per cent above the levels from May 2023. Compared with last year, year-to-date starts were up by 20 per cent in Victoria, 52 per cent in Kelowna, and 41 per cent in Abbotsford. Year-to-date starts were down by 8 per cent in Vancouver and by 14 per cent in Nanaimo. 

Link: https://mailchi.mp/bcrea/canadian-housing-starts-may-2024

For more information, please contact: Gino Pezzani.

June is a quirky month:  it has no overwhelming holiday celebrations that involve candy or costumes or sudden weight gain. In fact, the one holiday that most people associate with June is Father’s Day, with charming ties and handmade cards given out to fathers, grandfathers, and supportive men who might as well be fathers for all that they do out of love. However, if we take a second look at the word father, and dance back through the centuries to the Latin root, Pater, a different concept grows from the same vine: patronage.

The idea of patronage is simply the concept of supporting someone in their endeavors to make the world a better place. That can come in the everyday form of a patron at a local store; it can come through donations as a patron of the arts; it can come in the more lofty form of a community patron, one who ushers in programming for the power of good in schools or local organizations like Kiwanis or the Rotary.

I have often spoken of the need for us all to have a tribe, an innermost circle of trusted people with whom we share our personal and professional goals so that everyone might benefit from having a handful of connected individuals. However, if we look to ourselves to serve as leader of our tribe, it is in some sense serving as a patron, one who oversees a small community and lends support to causes that matter.

This month, as we hit the halfway mark of 2024, I ask you: who else could you include in your circle? How can you more effectively connect the people in your life to make the world a better place? How do you view your patronage, what cause is important enough to you to spend a lifetime in dedication to that outlet?

As summer unfolds, I hope that answer comes clear for you and that you find yourself at the center of your circle, a patron of what matters to you. These long days ahead of us with sunlit afternoons and warm evenings are perfect for spending with friends and family, guiding your plans to make the world a better place. Onward!

Canadian employment edged up by 27,000, or 0.1 per cent, to 20.518 million in May. The unemployment rate ticked up to 6.2 per cent. Average hourly wages rose 5.1 per cent year-over-year to $34.94 last month, while total hours worked were up 1.6 per cent from May of last year.

Employment in BC fell 0.3 per cent to 2.863 million, while employment in Metro Vancouver fell 1.1 per cent to 1.610 million in April. The unemployment rate rose 0.6 points in BC to 5.6 per cent while rising in Metro Vancouver by 0.8 points to 6.1 per cent last month. 

Link: https://mailchi.mp/bcrea/canadian-employment-may-2024-june-7th-2024

For more information, please contact: Gino Pezzani.

A vast majority of people neglect strength training exercises, such as weightlifting, using resistance bands, or practicing bodyweight exercises like squats and push-ups. However, overlooking this type of exercise has consequences, as highlighted by the U.S. Centers for Disease Control and Prevention (CDC), which advises most adults, including seniors and those with chronic conditions or disabilities, to engage in muscle-strengthening activities at least twice weekly, along with 150 minutes of moderate aerobic activity.

The merits of strength training are numerous:

Weight management: By preserving and building lean muscle mass, strength training enhances metabolism, aiding in weight management. Additionally, increased muscle mass correlates with improved insulin sensitivity.

Bone health: Activities such as resistance training and weight-bearing exercises foster healthy bone density and mitigate the risk of osteoporosis.

Enhanced quality of life: Engaging in muscle-strengthening activities facilitates everyday tasks, such as stair climbing and heavy lifting, thereby improving overall physical function. Moreover, it can help older adults prevent falls.

Management of chronic conditions: Individuals with conditions such as obesity, arthritis, depression or diabetes can all find relief through strength training.

Initiating a strength-training regimen, with approval from your healthcare practitioner, need not be daunting. Only simple attire and adequate space are needed. Opt for three to five fundamental exercises, such as squats, wall push-ups, glute bridges and step-ups, and perform two to three sets of eight to 12 repetitions, with a minute rest between sets.