Canadian prices, as measured by the Consumer Price Index (CPI), rose 3.4 per cent on a year-over-year basis in May, down from 4.4 per cent in March. The decline was mostly driven by lower gasoline prices from this time last year (-18.3 per cent). Month over month, CPI rose 0.4 per cent, in large part due to higher mortgage interest and traveler accommodation costs. Shelter costs were up 4.7 per cent year over year, driven by much higher mortgage interest costs (up 29.9 per cent from last year) along with higher rents (up 5.7 per cent from May 2022). The homeowner's replacement cost, which tracks home prices, was down 0.1 per cent year over year. Grocery prices were up 9 per cent year over year, down from 9.1 per cent last month. In BC, consumer prices rose 3.4 per cent year-over-year.

After unexpectedly hot inflation in April, the CPI cooled in May, with year-over-year prices rising at the slowest rate since June 2021. Much lower gasoline prices compared to the same time last year are doing much of this work, but recovering supply chains also contributed, with furniture and household appliances both on average cheaper than the same time last year. The Bank of Canada's measures of core inflation, which strip out volatile components, are trending downwards and are now mostly below 4 per cent year-over-year. Despite this progress, other components of the CPI remain stubbornly high, particularly food and shelter costs. Excluding energy prices, the CPI was up 4.6 per cent from last year, a rate that is still well beyond the Bank's target. In the context of solid GDP growth, a robust labour market, and a rebounding housing market, financial markets expect that the Bank will raise its benchmark interest rate by another 25 basis points to 5 per cent at its next meeting on July 12th. 

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

For more information, please contact: Gino Pezzani.

This dish is perfect for summer and is great for a quick and easy dinner or as an appetizer for a summer barbecue. Here's how to make it:

Ingredients:

1  pound large shrimp, peeled and deveined 3 garlic cloves, minced

1/4 cup olive oil

1/4 cup fresh lemon juice

2  tbsp  fresh parsley, chopped

1 tsp salt

1/2 tsp black pepper

Wooden skewers, soaked in water for at least 30 minutes

Instructions:

In a small bowl, whisk together the minced garlic, olive oil, lemon juice, chopped parsley, salt, and black pepper to make a marinade.

Add the peeled and deveined shrimp to the marinade and toss to coat.

Cover the bowl with plastic wrap and refrigerate for at least 30 minutes to allow the shrimp to marinate.

Preheat a grill to medium-high heat.

Thread the marinated shrimp onto the wooden skewers.

Grill the shrimp skewers for two to three minutes per side or until they are pink and opaque.

Serve the grilled shrimp skewers hot. Garnish with additional chopped parsley and lemon wedges, if desired. This summer dish will impress your guests. Enjoy!

Eventually, it happens to almost everyone: standing on the sidelines at a party with a beverage or appetizer in your hand, with no idea of what to say or do.

But party anxiety isn't a life sentence. Try these tips and you might find that you like parties after all.

Don't put too much pressure on yourself. You are not obligated to be the life of the party or earn the undying affection of every party guest. It's only a party!

Start with people you know. A conversation with some familiar faces can loosen you up and make it easier to chat with new people later.

Pick the perfect arrival time for you. Are you more comfortable with a smaller crowd, or do you prefer sliding into an existing conversation while the party is in full swing? If arriving a couple of minutes early or late (within reason) lets you have a better time, then don't agonize about it—just do it!

Create strategies to meet and talk with new people. You might ask your host to introduce you, or just stick out your hand and do it yourself. Have a funny story or interesting facts in your back pocket as conversation starters.

Don't be afraid to join groups of new people. It's a party, after all. You can listen to the conversation, participate with easy questions and statements, and let it build from there. You could also put it all out there with a simple, "I don't think we've met before. What are your names?" It's easy to do and instantly initiates a conversation that includes everyone.

Vitamin E is a powerful antioxidant that helps protect the body's cells from damage caused by harmful molecules known as free radicals.

It also plays a vital role in maintaining healthy skin and immune system function and preventing  chronic diseases, such as heart disease and cancer.

Vitamin E-rich foods include almonds and hazelnuts; seeds, such as sunflower and pumpkin; spinach; avocado; and vegetable oils, such as wheat germ, sunflower and safflower.

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

Highlights:

1. Stubborn inflation has rates rising again

2. How much longer can the economy shake off the impact of high interest rates?

3. The Bank of Canada is back on the move

For more information, please contact: Gino Pezzani.

You've probably heard of rare earth elements because they pop up often in news headlines and political discussions. And when you hear that the elements are rare, you expect them to be, well, rare. But it turns out that rare earth elements aren't rare at all.

In fact, you could take a shovel to your yard and probably dig up many of the elements used in electronic devices as catalysts, meaning they are useful in various chemical reactions. Without rare earth elements, there are no smartphones and computers.

Although rare earth elements are more abundant in some places, they're easy to find. However, they typically make up only a small amount of the local soil composition.

Generally, to get a significant amount of rare earth elements, you must excavate huge quantities of Earth from vast open pits and process the soil to the rare metals. Refining rare earth elements can inflict serious damage on the environment and generate a lot of waste.

China has created enormous processing centers and is willing to bear the risks associated with digging up and refining rare earth elements. In 2022, China produced the most of any country, with 210,000 metric tons (MT); the United States and Australia produced 43,000 MT and 18,000 MT, respectively.

Canadianhousing starts fell 23 per cent to 202,494 units in May at a seasonally adjusted annual rate (SAAR). Starts were down 28 per cent from the same month last year. Single-detached housing starts rose 3 per cent to 55,967 units, while multi-family and others fell 29 per cent to 146,528 (SAAR).

In British Columbia, starts fell by 33 per cent in May to 40,536 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 m/m to 6,207 units while multi-family starts fell 39 per cent to 32,010 units. Starts in the province were 3 per cent below the levels from May 2022. Starts were down by 22k in Vancouver, while rising by 0.6k in Victoria, 0.6k in Kelowna, and 1.7k in Abbotsford. The 6-month moving average trend fell 2.6 per cent to 49.9k in BC in November. 

Link: https://mailchi.mp/bcrea/canadian-housing-starts-may-2023

For more information, please contact: Gino Pezzani.

Michael loved to play football. For many years, he was smaller than the other kids his age, so he spent a lot of time on the bench, but his dad still cheered as if he was the star of the team.

Although a few people thought it was strange that Michael signed up every year to play, the coach saw his diligence and dedication, and always found a slot for him on the roster.

While in college, Michael received the tragic news that his father had passed away. At practice that afternoon, Michael told the coach about his father’s death and asked him, “Would it be all right if I miss practice today?”

The coach gently put his arm around his shoulder and said, “Take the rest of the week off, son, and don’t even plan to come to the game on Saturday.”

That Saturday, the team was losing in the first quarter when the coach and players saw Michael coming toward them. The coach decided instantly to put him in the game.

As soon as Michael took the field, his team caught up, and by halftime, the game was tied. However, the real cheer came when he intercepted a pass for the winning touchdown. His entire team congratulated him on the win.

After the game, the coach approached Michael, who was seated alone in the corner of the locker room, and asked him, “Where did that come from?”

Michael looked at the coach, with tears in his eyes, and said, “Well, you knew my dad passed away, but did you know that he was blind?” The young man swallowed hard, forced a smile and said, “Dad always came to all my games, but today was the first time he could see me play and I wanted to show him I could do it!”

or the complete news release, including detailed statistics, click here.

Vancouver, BC – June, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 9,191 residential unit sales were recorded in Multiple Listing Service^® (MLS^®) systems in May 2023, an increase of 9.9 per cent from May 2022. The average MLS^® residential price in BC was $1.02 million up 3 per cent compared to May 2022. The total sales dollar volume was $9.4 billion, representing a 13.2 per cent increase from the same time last year. 

“Home sales in May were surprisingly strong,” said BCREA Chief Economist Brendon Ogmundson. “Normally we’d expect to see a more persistent, negative impact from the last year of rising interest rates on sales. Instead sales staged an early recovery in the spring returning to a normal pace of sales well ahead of schedule.”

The average home price in BC has now recovered much of the decline over the past year and is now back over $1 million for the first time since April 2022.
 
Year-to-date, BC residential sales dollar volume was down 33.9 per cent to $30.8 billion, compared with the same period in 2022. Residential unit sales were down 28.1 per cent to 31,631 units, while the average MLS^® residential price was down 8.2 per cent to $973,085.

For more information, please contact: Gino Pezzani.

As we celebrate Father's Day, I've been reflecting on the important role that dads and father figures play in our lives. I wanted to start a fun and meaningful conversation to help us appreciate and cherish the incredible fathers in our world.

Today, I pose the question: What are your favorite Dad Superpowers?

Here is a list of twelve "superpowers" that many dads possess. Take a moment to read through these examples, and feel free to share your thoughts, personal experiences, or even stories of your own father or father figures who've had a significant impact on your life.

Dad reflexes: The incredible ability to catch a falling child, toy, or object with lightning-fast reflexes, often saving the day.

Super strength: The power to lift heavy objects, carry kids on their shoulders, and open tightly sealed jars with ease.

Grill master: The uncanny ability to cook the perfect barbecue, ensuring every burger and hot dog is cooked to perfection.

Home repair hero: The talent for fixing almost anything around the house, from leaky faucets to assembling furniture.

Infinite patience: The capacity to remain calm and composed while dealing with temper tantrums, sibling rivalries, and other challenging situations.

Endless energy: The power to keep up with their children's boundless energy, whether it's playing sports, chasing them around the yard, or taking them on adventures.

Storyteller extraordinaire: The gift of spinning captivating tales and bedtime stories, sparking their children's imaginations.

Wisdom dispenser: The ability to provide sage advice and guidance, helping their children navigate life's challenges.

Dad jokes: The unique humor that may induce eye-rolls but brings laughter and joy to their family.
Protector: The innate sense to keep their family safe and secure from harm, both emotionally and physically.

Master negotiator: The skill to peacefully resolve disputes between siblings and enforce fair compromises.

Unconditional love: The most important superpower of all - the capacity to love their children deeply and unconditionally, providing support, encouragement, and understanding throughout their lives.
We all have unique perspectives, and our individual experiences with fatherhood or father figures may vary.

I invite you to respond to this email with your thoughts on the best kind of dad, any anecdotes that you feel comfortable sharing or even your favorite dad jokes.

Let's celebrate the amazing dads and father figures in our lives, learn from each other's stories, and appreciate the qualities that make them so special.

Wishing you a Happy Father's Day and I look forward to hearing your heartwarming perspectives on this special occasion.

According to the Harvard School of Public Health, more research is needed to determine whether collagen supplements can help humans grow new collagen, which diminishes as we age. And as The New York Times reports, while some studies have indicated that taking collagen for several months might improve skin elasticity, those studies were small and received their funding from collagen supplement manufacturers.

Greens powders—which usually contain some combination of dried and ground leafy greens and seaweeds, grasses, probiotics, and herbs—fare somewhat better under scrutiny, but experts still encourage skepticism. According to WebMD, greens powders can be useful to supplement a healthy diet with additional vitamins and antioxidants. One study linked greens powders with improvements in blood pressure. But greens powders are not equivalent to whole foods—some nutritional content, such as fiber, is lost during processing, and overconsumption of some vitamins can be harmful.

Another thing for consumers to consider: The supplement market is largely unregulated, and poor-quality products with inaccurate labels are common. In an interview with The Cut, Evan Reister, a Doctor of Nutrition Science at American University, advises consumers to look for brands that are USP or NSF certified. These certifications require manufacturers to label their products accurately and submit them to third-party lab testing for certain contaminants.