{"id":49216,"date":"2024-07-12T12:04:15","date_gmt":"2024-07-12T12:04:15","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/07\/12\/canadas-housing-obsession-blamed-for-productivity-slump\/"},"modified":"2024-07-12T12:04:15","modified_gmt":"2024-07-12T12:04:15","slug":"canadas-housing-obsession-blamed-for-productivity-slump","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/07\/12\/canadas-housing-obsession-blamed-for-productivity-slump\/","title":{"rendered":"Canada&#8217;s housing obsession blamed for productivity slump"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">More investment dollars going to real estate than to sectors that give economy bigger boost<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Jul 12, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 2\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">5 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"939e56b2-6498-465b-9dd4-e5940a0dbe0f\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">From 2014 to 2021, housing accounted for 34.1 per cent of total investment in Canada, versus 18.5 per cent for the United States, the study found. <\/span> <span class=\"credit\">Photo by Gene J. Puskar<\/span> \/<span class=\"distributor\">THE ASSOCIATED PRESS<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&strip=all&w=288&sig=hKuq-wskY5lKlkFQgM-QTg\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&strip=all&w=288&sig=hKuq-wskY5lKlkFQgM-QTg,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&strip=all&w=576&sig=tP-X7ZqT8GHw4xLHdd3KpA 2x\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1\" alt=\"\" height=\"320\" loading=\"lazy\" width=\"760\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n<p><span>Canada\u2019s poor productivity is the result of a lack of investment in business and technology while investment in housing has soared, says a new report from the Fraser Institute.<\/span><\/p>\n<p>The think tank\u2019s report, which compares investment in Canada and the United States, found that over the past two decades capital investment in Canada was greater than in the U.S. \u201crelative to the size of the economy.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment6856107711256344961604038923649024\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div 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ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>However, the report\u2019s author attributes this mostly to the \u201cenormous investments made in housing in Canada versus the U.S.\u201d From 2014 to 2021, housing accounted for 34.1 per cent of total investment in Canada, versus 18.5 per cent for our neighbour to the south.<\/p>\n<p>Meanwhile, U.S. investment in areas considered to boost productivity dwarfed that of Canada\u2019s during the same time period.<\/p>\n<p>For example, total investment in IT was 10.4 per cent in Canada and 16.5 per cent in the U.S. Investment in research and development and other intellectual products represented 27.7 per cent of total investment compared with 12.6 per cent in Canada.<\/p>\n<p>\u201cWeak business investment in technologies like IT and research and development <span style=\"font-weight: 400\">\u2014 <\/span>which help Canadian workers be more productive <span style=\"font-weight: 400\">\u2014 <\/span> impedes improvements in Canadian living standards,\u201d said Steven Globerman, senior fellow at the Fraser Institute and author of the report.<\/p>\n<p><span>It might seem counterintuitive that the Fraser Institute is worried about housing investment, given that the country is in the midst of a full-blown housing shortage and affordability crisis.<\/span><\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot18\">\n<section class=\"newsletter-widget__new-story-page fp-execsummary background--primary-light-gradient\" aria-labelledby=\"FinancialPostPosthaste218338633428741805020307592839168\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_ExecSummary\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" 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Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_ExecSummary\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_ExecSummary\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment9784353047886273936884235314921472\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>Globerman doesn\u2019t say there is too much housing investment.<\/p>\n<p><span>\u201cCanada clearly does need more investment in residential housing, but policies need to be put in place to encourage more domestic savings to finance increased business investment as well, especially given newly implemented government policies that are aimed at promoting more investment in residential housing,\u201d the author said in an email. \u201cThe worry raised by the study is that the increased demand for financial capital to finance new residential housing will crowd out business borrowing for investments in things like R&amp;D, AI, software, data centres, etc.\u201d<\/span><\/p>\n<p>Productivity is important because when it is weak it can hinder the economy and eat into people\u2019s standard of living, the Fraser Institute said.<\/p>\n<p data-async=\"\">Bank of Canada\u00a0senior deputy governor Carolyn Rogers brought it to the nation\u2019s attention when she declared productivity an \u201cemergency\u201d during a speech in March.<\/p>\n<p data-async=\"\">Rogers warned that weak productivity would make the economy susceptible to factors that could fuel future inflation.<\/p>\n<p>During the speech, the bank official noted that, in 2022, Canada was producing 71 per cent of the value per hour generated by the United States economy. \u201cWhile U.S. spending continues to increase, Canadian investment levels are lower than they were a decade ago,\u201d Rogers told her audience.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment4323924838503850616332671623626752\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The data continue to support the productivity crisis narrative.<\/p>\n<p data-async=\"\">The most recent numbers showed Canadian businesses\u2019 labour productivity fell by 0.3 per cent in the first quarter compared to the previous quarter, Statistics Canada said in June. The decline in productivity during the first quarter followed a 0.2 per cent increase in the fourth quarter of 2023 <span style=\"font-weight: 400\">\u2014 <\/span> the first after six consecutive quarterly declines.<\/p>\n<p>From 2014 to 2022, output per hours worked increased at an average annual rate of 1.35 per cent in Canada, compared with 1.78 per cent in the U.S., the Fraser Institute said.<\/p>\n<p>\u201cIf governments in Canada want to promote rising living standards through faster productivity growth, they must create a policy environment that\u2019s attractive to productivity-enhancing business investments and not simply focus on building more housing,\u201d said Globerman.<\/p>\n<hr\/>\n<p data-async=\"\"><em><strong>\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n<hr\/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-1758646\" alt=\"\" height=\"114\" fifu-data-src=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1\" width=\"838\"\/><\/strong><\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"U.S. core inflation chart\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=90&strip=all&w=288&sig=02gOYeB1b7bi6MH0Gzu92w\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=90&strip=all&w=288&sig=02gOYeB1b7bi6MH0Gzu92w,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=90&strip=all&w=576&sig=RS0D4XbRUqDbOxBED2o8eg 2x\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/u.s.-inflation-june-2024.png?quality=5&strip=all&w=100&sig=_jMCF3uVOur1ECXb2IaSjQ&ssl=1\" height=\"835\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n<p data-async=\"\">U.S. inflation cooled broadly in June, driven by a long-awaited slowdown in housing costs and providing another dose of confidence for United States Federal Reserve officials that they can cut interest rates soon.<em> \u2014 Bloomberg<\/em><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment7471184344761948948882024432664576\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">Read the full story here.<\/p>\n<section class=\"article-content__content-group article-content__content-group--story\"\/>\n<hr\/>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-1758643\" alt=\"\" height=\"114\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1\" width=\"838\"\/><\/p>\n<ul>\n<li><span>Harley Finkelstein, president of Shopify Inc., and David Segal, co-founder of DAVIDsTEA, Firebelly Tea, and Mad Radish, host a live version in Montreal of their show about Jewish entrepreneurs called Big Shot. Heather Reisman, chief executive of Indigo, will join them on stage at Startupfest, 3:00 pm \u2013 4:00 pm EDT<br \/><\/span><\/li>\n<li>Apple starts selling VisionPro glasses in Canada<\/li>\n<li><strong>Today\u2019s data: <\/strong>Canada building permits for May and existing home sales for June, U.S. producer price index for June<strong><br \/><\/strong><\/li>\n<li><strong>Earnings:<\/strong> Citigroup Inc., JPMorgan Chase &amp; Co., Wells Fargo &amp; Co.<strong><br \/><\/strong><\/li>\n<\/ul>\n<figure class=\"embedded-image\"\/>\n<hr\/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-3080180\" alt=\"\" height=\"114\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1\" width=\"838\"\/><\/strong><\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"markets chart\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=90&strip=all&w=288&sig=wWckgbJAkD5TtiMVkWLeAQ\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=90&strip=all&w=288&sig=wWckgbJAkD5TtiMVkWLeAQ,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=90&strip=all&w=576&sig=8HLbejTUwxnacS7lutwEbA 2x\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/chart-0712-ph.jpg?quality=5&strip=all&w=100&sig=nRgzaVOx6VPxm7PBrGwW2g&ssl=1\" height=\"422\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"image-caption\"><span class=\"caption\"> Financial Post<\/span><\/figcaption><\/figure>\n<hr\/>\n<figure class=\"embedded-image\"\/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-3080181\" alt=\"\" height=\"114\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1\" width=\"838\"\/><\/strong><\/p>\n<section aria-labelledby=\"moreTopicLabel8798131347982821804911835517812736\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" equity=\"\" tax=\"\" latest=\"\" proposal=\"\" in=\"\" liberals=\"\" bogeyman=\"\" take=\"\" on=\"\" housing=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Canadians already pay a long list of taxes on their homes, such as municipal property taxes, carbon taxes and GST\/HST on new builds, renovations and utilities.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=80&sig=lTmbR-3B25MWI6F0hcjvLg\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=5&sig=VL9Sr1wr7tC-q5AuxKzdLQ&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=96&strip=all&quality=80&sig=lTmbR-3B25MWI6F0hcjvLg, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=192&strip=all&quality=80&sig=B4mkU-_Gx7iMzL0J_68XJQ 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/home-tax-gs0708.png?h=288&strip=all&quality=80&sig=MGYrZcxL6ci1kjDmhknhcA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Home equity tax latest proposal in Liberals&#8217; bogeyman take on housing<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" open=\"\" to=\"\" risk=\"\" playing=\"\" the=\"\" interest=\"\" rate=\"\" waiting=\"\" game=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Greater Vancouver recorded 2,418 sales in June, almost 19 per cent lower than the same month last year, as a similar trend played out in Toronto.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=80&sig=DTIff53l62Cx3z9WZBiVzA\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=5&sig=lAUaqSjzGMkG0OXBTJxB0A&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=96&strip=all&quality=80&sig=DTIff53l62Cx3z9WZBiVzA, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=192&strip=all&quality=80&sig=CamSCPXO_38ZZlxy3oo-GA 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/Vancouver-Home-Sales-gs0709.png?h=288&strip=all&quality=80&sig=cYMIaCy1hRG5J40u19RRiQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Homebuyers open to risk playing the interest rate waiting game<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<hr\/>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-2059284\" alt=\"\" height=\"114\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1\" width=\"838\"\/><\/p>\n<p data-async=\"\"><span>There\u2019s a common misconception that Indigenous people in Canada simply don\u2019t pay tax, but that\u2019s generally not true since in order to be exempt from tax, the income earned must be situated on a reserve. <\/span><span>A recent case, decided earlier this month, dealt with the exemption and how it is applied. Jamie Golombek has the story.\u00a0<\/span><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_6\">\n<section aria-describedby=\"advertisment4598071223032765731570145573208064\" class=\"ad\">\n<p>Advertisement 6<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-6\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<hr\/>\n<h3>FP Answers<\/h3>\n<p data-async=\"\">Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you wondering how to make ends meet? Drop us a line at aholloway@postmedia.com with your contact info and the general gist of your problem and we\u2019ll try to find some experts to help you out while writing a Family Finance story about it (we\u2019ll keep your name out of it, of course). If you have a simpler question, the crack team at FP Answers led by Julie Cazzin or one of our columnists can give it a shot.<\/p>\n<hr\/>\n<h3>McLister on mortgages<\/h3>\n<p data-async=\"\">Want to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Read them here\u00a0<\/p>\n<hr\/>\n<p data-async=\"\"><em>Today\u2019s Posthaste was written by Gigi Suhanic, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\n<p data-async=\"\">Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n<hr\/>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Canada&#8217;s housing obsession blamed for productivity slump<\/a><br \/>\n<br \/>2024-07-12 12:04:15<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News More investment dollars going to real estate than to sectors that give economy bigger boost Published Jul 12, 2024 \u00a0\u2022\u00a0 Last updated 2\u00a0hours ago \u00a0\u2022\u00a0 5&#8230;<\/p>\n","protected":false},"author":2,"featured_media":49217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/04\/nypm402-the-associated-press-1.jpg?quality=90&strip=all&w=288&h=216&sig=BM8FzLcp1Wjbd2aZaPefCw","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-49216","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=49216"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49216\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/49217"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=49216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=49216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=49216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}