Owning a pet for a long time keeps you more astute and happy, a study has found. People who own pets seem to have a sharper mind compared to non-pet owners, according to the American Academy of Neurology.

The study, using data from more than 1,300 adults who participated in the University of Michigan's Health and Retirement Study, found that long-term pet ownership was the most beneficial, according to CNN. The key to reaping the highest benefit: ownership of five years or more.

Animal companions don't have to be the fluffy variety. Although dogs and cats were the more prevalent pets in the study, people who owned birds, fish and reptiles saw the same benefits.

The study's authors say that they could only confirm an association, and more research is needed to establish a cause-and-effect relationship between pet ownership and better cognitive health. But the relationship between pet ownership and stress reduction has been well-established in numerous studies, and researchers believe the physiological benefits of pet ownership, such as reduced blood pressure and lower cortisol levels, could positively impact cognitive health.

The study joins a growing body of evidence that supports what animal lovers have known all along: Pets just make life better!

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

Vancouver, BC – March, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 4,775 residential unit sales were recorded in Multiple Listing Service^® (MLS^®) systems in February 2023, a decrease of 46.5 per cent from February 2022. The average MLS^® residential price in BC in 2023 was 941,575, down 14.7 per cent compared to the average price of over $1.1 million in February 2022, recorded at the market's peak. The total sales dollar volume was $4.5 billion, representing a 54.4 per cent decrease from the same time in the previous year. 

“While activity across provincial housing markets remains well below normal,” said BCREA Chief Economist Brendon Ogmundson. “There are encouraging signs that the market is balancing out. Home sales rose month-over-month in most markets, and prices appear to be firming up in the face of low supply.”

Worth mentioning, the provincial MLS^® average price was up 8.5 per cent month-over-month to its highest level since July 2022, partially due to a more stable market but also because of the composition of sales reverting to a more normal mix following low sales of single detached homes through the Lower Mainland in January.

For more information, please contact: Gino Pezzani.

February listing data show slow sales resulting in below-average sales activity in the Metro Vancouver area.

With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards.

Here's a summary of the February 2023 housing market statistics.

The humble-tinned sardine has never gotten a fair shake. Tender and a little salty, these tiny members of the herring family typically lack any unpleasant fishy odor or taste, and they are packed with heart- healthy omega-3 fatty acids, vitamin B-12, calcium and other beneficial minerals. The American Heart Association recommends eating oily fish twice a week; and tinned fish, such as sardines, are an easy, inexpensive and shelf-stable choice. Combined with heart-healthy avocado and a fried or poached egg, sardine avocado toast is filling and delicious.

Ingredients:

4 slices sturdy bread

1 large ripe avocado

4 large eggs

1 tin sardines (smoked sardines in olive oil is recommended)

1 teaspoon lemon juice

Salt and pepper to taste

Pinch garlic powder

Balsamic vinegar

Peel and mash the avocado. Add lemon juice and garlic powder, and season to taste with salt and pepper. Set aside, then remove sardine fillets from the oil— about two fillets per slice, depending on the size of the fillets. With a fork, break the fillets into chunks and discard any stray pin bones. Set aside and toast the bread. While your bread toasts, drizzle oil into a skillet and place over medium- high heat until the oil shimmers. Fry eggs to desired doneness (or poach in them boiling water if you prefer a healthier version.)

To serve, spread each slice of toasted bread with mashed avocado and top it with your desired quantity of sardines. Lay the egg on top and drizzle with balsamic vinegar. Add more salt and pepper, if desired, and serve.

Canadian employment rose slightly to 20.05 million in February, up by 22,000 (0.1 per cent). The Canadian unemployment rate held steady at 5 per cent, hovering just above all-time lows. Employment gains were concentrated in health care and social assistance (+15,000), public administration (+10,000), and utilities (+7,500), while employment fell in business, building and other support services (-11,000). Employment among those aged 55 to 64 rose by 25,000 (+0.7 per cent) as older workers returned to the labour force. Average hourly wages were up 5.4 per cent from February of last year, while total hours worked were up 1.4 per cent year-over-year.

Employment in BC rose by 6,700 (0.2 per cent) to 2.777 million in February, while Metro Vancouver's employment rose by 0.6 per cent month over month. Both BC and Metro Vancouver's unemployment rates jumped to 5.1 per cent, however. This was driven by an increase in workers entering the labour force, particularly middle-aged females, rather than a decrease in employment. BC's unemployment rate now matches Ontario, while Manitoba, Saskatchewan, and Quebec have a lower rate. 

Link: https://mailchi.mp/bcrea/canadian-employment-february-2023-march-10-2023

For more information, please contact: Gino Pezzani.

As signalled in its previous interest rate announcement, The Bank of Canada maintained its overnight rate at 4.5 per cent this morning. In the statement accompanying the decision, the Bank noted that restrictive monetary policy is weighing on demand and it expects weak economic growth for the next couple of quarters. That weak growth should moderate wage growth in a currently tight labour market and ease competitive pressures on prices, ultimately leading to inflation reaching 3 per cent by the middle of 2023.  As for the possibility of future rate increases, the Bank stated that it will continue to assess economic developments and the impact of past interest rate increases and is prepared to increase its policy rate further if needed.

Economic data in Canada has been mixed of late.  Labour markets remain very strong while economic growth appears to have somewhat stalled. Inflation, while still high on a year-over-year basis, has come down significantly on a monthly basis with total CPI trending at 2.5 per cent annualized over the past three months and core measures of inflation trending at between 2.5 and 3.5 per cent. Uncertainty as to the direction of the economy has led to significant volatility in bond yields as financial markets grasp for clues on future monetary policy decisions. As a result, 5-year bond yields in Canada (an important benchmark for fixed mortgage rates) have soared back to their previous highs. Consequently, after falling to start the year, fixed mortgage rates have ticked slightly higher. However, we still anticipate that mortgage rates will end the year lower once the full impact of the past year of rate increases is felt on economic growth and inflation.

Link:  https://mailchi.mp/bcrea/bank-of-canada-interest-rate-announcement-9k8aczm5zv

For more information, please contact: Gino Pezzani.

Regular exercise is a healthy choice for most people—and a great way to shake off winter gloom. But when common winter illnesses hit, sometimes the healthiest choice is to stay home and rest. Here are some basic tips to help exercisers know when to grab their shoes and when to head back to bed.

DO the neck check. If all of your symptoms are above your neck, such as a stuffy nose or mild headache, then it's probably fine to exercise, according to Thomas Weidner, professor of athletic training at Ball State University, in an interview with the New York Times. Multiple studies have shown that exercise does not worsen cold symptoms or lengthen the cold.

DON'T hit the gym if you have any symptoms below the neck, including hacking coughs, nausea, upset stomach, fatigue or body aches. Stay home instead and rest.

DO take it easy. According to health.com, strongly consider minimizing the intensity if you're used to high-impact workouts. A 20-minute walk is a good choice if you're under the weather, and it could alleviate your cold symptoms.

DON'T power through a fever or worsening symptoms. You should be fever-free for at least 24 hours before you exercise again. If you feel worse during your workouts, then recognize that as a sign from your body that you need to rest.

What can you find in the middle of April and March, but not at the beginning or end of either? –The letter R!

What is a flower's favorite kind of pickle? – A daffo-dill.

What did the gardener do after she retired? – Not mulch.

Does February march? – No, but April may!

March is a special month in the cycle of the seasons. After months of cold and darkness, we are blessed with the warm embrace of sun, longer days and brighter skies. It's a month when nature sparkles with beauty, coming out of its winter slumber to welcome us into spring.

The animals around us also take notice of the changing climate. Birds return from their wintery migration south and sing sweetly in the new air; squirrels come out of hiding and scurry around searching for food; and trees burst with new life as colorful buds blossom along their branches. All these signs of change bring joy to our hearts as we watch nature slowly come alive again, after a long period of dormancy.

This awakening also brings about a mixture of emotions—both exciting renewal and bittersweet longing for what has passed—for those who have experienced this time before know that it will soon be gone again just as quickly as it arrived. It's a reminder that time is fleeting and to enjoy every moment while it lasts!

From the chill in the air to the sweet aroma of flowers, March is full of wonders as nature reveals its secrets once again in all its splendor. Let us take advantage of this magical time by embracing all that comes along with it—new beginnings, fresh perspectives, and even greater appreciation for those around us.

Sincerely,

Gino Pezzani

Your Real Estate/Mortgage Consultant For Life

Canadian real GDP declined 0.1 per cent in December, the first monthly decline since January of 2022. The decline in GDP was concentrated among goods-producing industries (-0.6 per cent) while services were flat. Canadian real GDP is now roughly 2.7 per cent above its pre-pandemic, February 2020 level. Preliminary estimates suggest that output in the Canadian economy rose 0.3 per cent in January.

Growth in the fourth quarter of 2022 was nearly unchanged from the prior quarter, following five consecutive quarters of positive growth. Declines in business inventories and business investment balanced out higher consumer and government spending and more favorable net trade. Housing investment fell 2.3 per cent on higher interest rates, as with home renovations (-2.6 per cent), new home construction (-1.4 per cent), and ownership transfer costs (-4 per cent). Overall, housing investment declined 11.1 per cent in 2022. Business investment in non-residential structures, in contrast, rose 2.5 per cent from the prior quarter, with higher investment in engineering structures driven by construction at LNG Canada's export terminal in Kitimat. 

Flat GDP numbers in the fourth quarter continue to indicate slowing in the Canadian economy. Growth in the fourth quarter was softer than expected, providing support for the Bank of Canada's decision to put a 'conditional pause' on further rate hikes as of January. However, with the overnight rate rising 425 basis points in under a year, growth is likely to remain sluggish in the coming quarters as prior rate tightening works its way through the economy. 

Link: https://mailchi.mp/bcrea/canadian-economic-growth-real-gdp-q42022

For more information, please contact: Gino Pezzani.

International Women's Day, March 8: A day to celebrate women and women's rights worldwide.

St. Patrick's Day, March 17: A global celebration of the Irish culture. Don't forget to wear green! *Pinch* 

Spring Equinox, March 20: This day marks the beginning of Spring. Wahoo!

National Mom and Pop Shop Owners Day, March 29: Our economy could not run without mom-and-pop businesses. Head to your favorite small business and thank them with a purchase.

National Doctors Day, March 30: This is an annual observance dedicated to physicians who enrich and save lives. Why not call or text your doctor and thank them for all they do?