Infographic: California’s Katrina?
















The scenario is known as “California’s Katrina.” An earthquake or superstorm causes Gold Rush-era earthen levees to collapse. Saltwater from San Francisco Bay floods the Sacramento-San Joaquin River Delta, displacing half a million lowland Californians, poisoning the water supply for as many as 28 million more who live in Los Angeles, San Diego, and Silicon Valley, and ruining farmland that produces 11 percent of the nation’s agricultural value. The eighth-largest economy in the world could be sunk for months, even years.


There are two competing proposals to avert all this. The first is to bypass the delta with tunnels carrying fresh water to Southern California. The second is to upgrade the existing levees. A bill that would have required an official cost-benefit analysis of these approaches got shot down in the state legislature. Civil engineers at University of California at Davis don’t think the levees can be earthquake-proofed. Delta landowners, fearful the levees will no longer be maintained if the tunnels were built, have refused surveyors access to their land.













In this fight, if someone doesn’t win, everyone will lose.


Businessweek.com — Top News



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Canada pledges again to balance budget by 2015
















OTTAWA/NEW YORK (Reuters) – The Canadian government on Friday reiterated its intention to balance its budget by 2015, three days after projecting there would be deficits until 2016-17.


In separate appearances in Quebec City and New York, Prime Minister Stephen Harper and Finance Minister Jim Flaherty were at pains to say they still intended to end the red ink by 2015.













“It remains the government’s plan, intention, to balance the budget prior to the next federal election. The recent economic and fiscal update by the minister indicates we are actually very close to that objective,” Harper told reporters in Quebec City. The next election is in October 2015.


Flaherty’s fall fiscal update on Tuesday had pushed back the target date for eliminating the deficit by a year, to 2016-17, citing a weak global economy.


But the minister said in a speech in New York that the government was on track to balance the budget in the next two to three years, barring major external events, and he later clarified that he intended a balanced budget by 2015.


“The prime minister’s always correct,” he chuckled.


He sought to explain the discrepancy by saying the fiscal update had built in a C$ 3 billion ($ 3 billion) contingency cushion, meaning there was an underlying surplus of C$ 1.2 billion for 2015-16. He said the projection of a C$ 1.8 billion deficit amounted to about half a percent of the C$ 275 billion federal budget.


“There’s lots of water to go under the bridge between now and then,” he said.


The opposition New Democratic Party noted the discrepancy in a release headlined: “Stephen Harper makes stuff up about balancing the budget.”


It pointed out that balancing the budget by the next election was not the same as balancing it by 2016-17.


As it is, even the 2015-16 timetable is a year later than offered in the Conservative campaign for reelection in May 2011. They had promised a balanced budget by 2014-15, followed by major personal income tax relief before the 2015 election.


Flaherty’s timetable drew criticism this week from the Canadian Taxpayers Federation, which said the minister had become expert at kicking the can down the road.


The projections could be thrown out of whack if the United States goes off the fiscal cliff, a set of automatic tax hikes and spending cuts that are to be triggered on January 2 if legislators and the White House cannot agree on a more nuanced budget deal.


Flaherty said U.S. failure to avert the fiscal cliff would cause a significant and immediate decline in Canada’s gross domestic product, and he would counter it.


Referring to a possible economic shock from Europe or the United States, he said: “If that were to happen and if the Canadian economy were to be pushed back into recession with the resulting danger for higher unemployment and the danger always of a prolonged recession, then we would act.”


He added: “We would not stand by and let that happen. The kinds of measure we can take: there are various tax measures we can take, there are measures with respect to stimulus we can take, these are things that we have done before and we can do again.”


On Tuesday, Flaherty spoke of having prepared various contingency plans.


(Additional reporting by Louse Egan; Editing by David Gregorio)


Canada News Headlines – Yahoo! News



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In Mark Cuban’s Humble Opinion, Facebook Still Kinda Sucks
















Dallas Mavericks owner and billionaire Mark Cuban has confirmed reports from last week, in a post on his personal blog today, that he has a serious beef with Facebook. But before getting into all the reasons he no longer loves the social network, he clarifies one small point: “First, I’m not recommending to any of my companies that we leave facebook,” he writes. Last week ReadWriteWeb’s Dan Lyons kind of made it seem like Cuban planned to pull out altogether because of the way Facebook’s algorithm has affected the way people see his brands’s posts. The algorithm, Edgerank, controls brand posts so that not all fans are forced to see each one in their news feeds. Because of this, he quoted Cuban saying “We are moving far more aggressively into Twitter and reducing any and all emphasis on Facebook.” And later he had him talking about all the reasons he finds it horrible for businesses. Like, mainly, that it’s too expensive, a point that GigaOm’s Mathew Ingram called naive. “Really? That surprises you? What else did you think Facebook was going to do when it gave you a giant social platform for nothing?” Cuban now explains that he isn’t bailing on Facebook, just de-emphasizing it in favor of other Internet places, like Tumblr and Twitter. But, that does not mean that he does not hate Facebook as much as everyone has been saying he hates Facebook. He does.


RELATED: Shafted Facebook Founder Is Living Like a Kardashian in Singapore













You can read the laundry list of reasons over at his personal blog, but some highlights include:


RELATED: Eduardo Saverin May Be Barred from Returning to the U.S. After Renouncing Citizenship


  • Its a time waster … FB doesn’t seem to want to accept that it’s best purpose in life is as a huge time suck. 

  • IMHO, FB really risks screwing up something that is special in our lives as a time waster by thinking they have to make it more engaging and efficient.

  • So by default you are not going to use your newsfeed as a primary source of information. It’s more like the township newspaper

  • I also think that FB is making a big mistake by trying to play games with their original mission of connecting the world.  FB is a fascinating destination that is an amazing alternative to boredom which excels in its SIMPLICITY.  One of the threats in any business is that you outsmart yourself. FB has to be careful of just that.

Basically Mark Cuban thinks Facebook should stop trying to make money and stop trying to get too smart, which might work in the favor of Cuban who doesn’t want to spend too much money on something silly like social media. But,this doesn’t sound too appealing to Facebook, which as a public company needs to make money. Unless more join his cause, which could maybe happen. At least the Miami blog the 305 agrees with him. Anyone else? 


Social Media News Headlines – Yahoo! News



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‘Twilight’ finale dawns with $141.3M weekend
















LOS ANGELES (AP) — The sun has set on the “Twilight” franchise with one last blockbuster opening for the supernatural romance.


The Twilight Saga: Breaking Dawn — Part 2″ sucked up $ 141.3 million domestically over opening weekend and $ 199.6 million more overseas for a worldwide debut of $ 340.9 million.













The finale ranks eighth on the list of all-time domestic debuts, and leaves “Twilight” with three of the top-10 openings, joining 2009′s “New Moon” (No. 7 with $ 142.8 million) and last year’s “Breaking Dawn — Part 1″ (No. 9 with $ 138.1 million).


Last May’s “The Avengers” is No. 1 with $ 207.4 million. “Batman” is the only other franchise with more than one top-10 opening: last July’s “The Dark Knight Rises” (No. 3 with $ 160.9 million) and 2008′s “The Dark Knight” (No. 4 with $ 158.4 million).


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China approves Land Rover deal

















Jaguar Land Rover is to make vehicles in China for the first time after Beijing approved a £1bn joint venture.













The West Midlands-based luxury carmaker agreed a “milestone” deal with Chery Automobile and will build a plant near Shanghai, which is due to open in 2015.


JLR said any cars produced would be in addition to its existing output, and it had no intention of moving its manufacturing base out of Britain.


Sales of JLR models in China have risen by 80% so far this year.


The company, owned by India’s Tata Motors, began talks with Chery months ago, but had been awaiting approval.


A joint statement released by the Chinese and British companies said: “We are delighted to have reached this milestone, achieved thanks to the understanding and foresight of the Chinese authorities and we want to thank them for recognising the potential of our joint venture in the fast-growing Chinese market.


“Together, we will now begin working in close collaboration on our partnership plans to harness the capabilities of our respective companies, to produce relevant, advanced models for Chinese consumers.”


JLR has not said officially which model would be built at the factory, although the company has said in the past that is likely to be either the Land Rover Freelander or Evoque.


A research and development facility and engine production plant will also built as part of the venture, with the main manufacturing plant expected to be completed during 2014, with production starting the following year.


With China now a crucial market for JLR, building vehicles in the country means it can avoid import duties.


However, JLR says that being in China will enable it to build vehicles designed specifically for the Chinese market.


BBC News – Business



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Israel, Gaza fighting rages on as Egypt seeks truce
















GAZA/JERUSALEM (Reuters) – Israel bombed Palestinian militant targets in the Gaza Strip from air and sea for a fifth straight day on Sunday, preparing for a possible ground invasion though Egypt saw “some indications” of a truce ahead.


Militant rocket fire into Israel subsided during the night but resumed in the morning with three rockets fired at the nearby coastal city of Ashkelon, the Israeli army said.













“As of now we have struck more than 1,000 targets, so Hamas should do the math over whether it is or isn’t worth it to cease fire,” Israeli Vice Prime Minister Moshe Yaalon, over Twitter.


“If there is quiet in the South and no rockets and missiles are fired at Israel’s citizens nor terrorist attacks engineered from the Gaza Strip, we will not attack.”


Forty-eight Palestinians, about half of them civilians, including 13 children, have been killed in Israel’s raids, Palestinian officials said. More than 500 rockets fired from Gaza have hit Israel, killing three people and injuring dozens.


Israel unleashed intensive air strikes on Wednesday, killing the commander of the Hamas Islamist group that governs Gaza and spurns peace with the Jewish state. Israel’s declared goal is to deplete Gaza arsenals and press Hamas into stopping cross-border rocket fire that has plagued Israeli border towns for years.


Air raids continued past midnight into Sunday, with warships shelling from the sea. A Gaza City media building was hit, witnesses said, wounding 6 journalists and damaging facilities belonging to Hamas’s Al-Aqsa TV as well as Britain’s Sky News.


An Israeli military spokeswoman said the strike had targeted a rooftop “transmission antenna used by Hamas to carry out terror activity”.


Two other predawn attacks on houses in the Jabalya refugee camp killed two children and wounded 13 other people, medical officials said.


These attacks followed a defiant statement by Hamas military spokesman Abu Ubaida, who told a news conference: “This round of confrontation will not be the last against the Zionist enemy and it is only the beginning.”


The masked gunman dressed in military fatigues insisted that despite Israel’s blows Hamas “is still strong enough to destroy the enemy”.


An Israeli attack on Saturday destroyed the house of a Hamas commander near the Egyptian border.


Casualties there were averted however, because Israel had fired non-exploding missiles at the building beforehand from a drone, which the militant’s family understood as a warning to flee, and thus their lives were spared, witnesses said.


Israeli aircraft also bombed Hamas government buildings in Gaza on Saturday, including the offices of Prime Minister Ismail Haniyeh and a police headquarters.


Among those killed in air strikes on Gaza on Saturday were at least four suspected militants riding motorcycles, and several civilians including a 30-year-old woman.


ISRAELI SCHOOLS SHUT


Israel said it would keep schools in its south shut on Sunday as a precaution to avoid casualties from rocket strikes reaching as far as Tel Aviv and Jerusalem in the past few days.


Israel’s “Iron Dome” missile interceptor system destroyed in mid-air a rocket fired by Gaza militants at Tel Aviv on Saturday, where volleyball games on the beach front came to an abrupt halt as air-raid sirens sounded.


Hamas claimed responsibility for the attack on Tel Aviv, the third against the city since Wednesday. It said it had fired an Iranian-designed Fajr-5 at the coastal metropolis, some 70 km (43 miles) north of Gaza.


In the Israeli Mediterranean port of Ashdod, a rocket ripped into several balconies. Police said five people were hurt.


Israel’s operation has drawn Western support for what U.S. and European leaders have called Israel’s right to self-defense, but there was also a growing number of calls from world leaders to seek an end to the violence.


British Prime Minister David Cameron “expressed concern over the risk of the conflict escalating further and the danger of further civilian casualties on both sides,” in a conversation with Israeli Prime Minister Benjamin Netanyahu, a spokesperson for Cameron said.


London was “putting pressure on both sides to de-escalate,” the spokesman said, adding that Cameron had urged Netanyahu “to do everything possible to bring the conflict to an end.”


Ben Rhodes, a deputy national security adviser to President Barack Obama, said the United States would like to see the conflict resolved through “de-escalation” and diplomacy, but also believes Israel has a right to self-defense.


Egyptian President Mohamed Mursi said in Cairo as his security deputies sought to broker a truce with Hamas leaders, that “there are some indications that there is a possibility of a ceasefire soon, but we do not yet have firm guarantees.”


Egypt has mediated previous ceasefire deals between Israel and Hamas, the latest of which unraveled with recent violence.


A Palestinian official told Reuters the truce discussions would continue in Cairo on Sunday, saying “there is hope,” but it was too early to say whether the efforts would succeed.


In Jerusalem, an Israeli official declined to comment on the negotiations. Military commanders said Israel was prepared to fight on to achieve a goal of halting rocket fire from Gaza, which has plagued Israeli towns since late 2000, when failed peace talks led to the outbreak of a Palestinian uprising.


Diplomats at the United Nations said Secretary-General Ban Ki-moon is expected to visit Israel and Egypt in the coming week to push for an end to the fighting.


POSSIBLE GROUND OFFENSIVE


Israel, with tanks and artillery positioned along the frontier, said it was still weighing a ground offensive.


Israeli cabinet ministers decided on Friday to more than double the current reserve troop quota set for the Gaza offensive to 75,000 and around 16,000 reservists have already been called up.


Asked by reporters whether a ground operation was possible, Major-General Tal Russo, commander of the Israeli forces on the Gaza frontier, said: “Definitely.”


“We have a plan. … It will take time. We need to have patience. It won’t be a day or two,” he added.


A possible move into the densely populated Gaza Strip and the risk of major casualties it brings would be a significant gamble for Netanyahu, favored to win a January election.


The last Gaza war, a three-week Israeli blitz and invasion over the New Year of 2008-09, killed 1,400 Palestinians, mostly civilians. Thirteen Israelis died in the conflict.


But the Gaza conflagration has stirred the pot of a Middle East already boiling from two years of Arab revolution and a civil war in Syria that threatens to spread beyond its borders.


One major change has been the election of an Islamist government in Cairo that is allied with Hamas, potentially narrowing Israel’s maneuvering room in confronting the Palestinian group. Israel and Egypt made peace in 1979.


(Writing by Allyn Fisher-Ilan; Editing by Douglas Hamilton)


World News Headlines – Yahoo! News



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Summary: A look at the 4 new Kindle Fire models
















Amazon.com Inc. started shipping a large-screen version of its Kindle Fire tablet computer on Thursday, ahead of schedule. Here is a look at the new Fires announced in September:


— Kindle Fire, with 7-inch screen, 1024 by 600 pixels. $ 159, with 8 gigabytes of storage. Weighs 14.1 ounces. Battery life of 8.5 hours. Started shipping Sept. 14.













Kindle Fire HD, with 7-inch screen, 1280 by 800 pixels. $ 199 with 16 GB of storage or $ 249 with 32 GB of storage. Weighs 13.9 ounces. Battery life of 11 hours. Started shipping Sept. 14.


— Kindle Fire HD 8.9″, with 8.9-inch screen, 1920 by 1200 pixels. $ 299 with 16 GB of storage or $ 369 with 32 GB of storage. Weighs 20 ounces. Battery life of 10 hours. Started shipping Thursday.


— Kindle Fire HD 8.9″ 4G LTE Wireless, with 8.9-inch screen, 1920 by 1200 pixels. $ 499 with 32 GB of storage or $ 599 with 64 GB of storage. Can connect to AT&T Inc.‘s 4G LTE wireless network. Weighs 20 ounces. Battery life of 10 hours. Will start shipping Tuesday.


Gadgets News Headlines – Yahoo! News



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“Sister” Director Tackles Taboo of Switzerland’s Class Divide With Her Oscar Contender
















LOS ANGELES (TheWrap.com) – Director Ursula Meier can hardly believe that her film “Sister” – which depicts tenements, poverty and a seemingly rigid class system in lovely Switzerland – has made it over the Alps to Hollywood for Academy consideration.


“It shows a not-very-usual aspect of Switzerland,” Meier told the audience at a showing of “Sister” Thursday night at the Landmark, part of TheWrap’s Academy Screening Series. “We don’t show the beautiful mountains and the green and the lush life … For me it was important to show another point of view on this country to the world. Because usually it’s Montblanc, chocolate, and Swatch.”













Indeed, with her second film, Meier has given international audiences something else to associate with Switzerland: larcenous snow urchins.


“Sister” centers mostly around 12-year-old Simon (Kacey Mottet Klein), who lives in a high-rise tenement in a not-so-snowy valley far below a ski resort and takes gondolas to the top to steal wealthy tourists’ skis right out from under their goggles.


Wily Simon is financing not just his own existence but that of Louise (Lea Seydoux), the title character, who just might be the worst parental figure or caretaker in a cinematic year that did, after all, include “Beasts of the Southern Wild.”


It would involve spoilers to explain why Simon’s older sis is not everything she’s cracked up to be. But there’s nothing misleading about this boy-crazy, substance-abusing twentysomething gal’s unfitness to watch over Simon, the breadwinner of their sad two-person family.


He has to empty out his cash drawer to bribe Louise into snuggling with him, and when he entrusts her with the mere task of waxing skis, she can’t even do that without spilling cigarette ashes on the stolen merchandise.


“It was important for me, when we were at the ski resort, to showing the back door of the restaurant, and the workers inside … And it’s just at the end, when it’s finished, when there is no more snow and the ski resort is closed, for the first time Simon looks at the landscape. And we can see how beautiful this place is, but it’s too late now.”


Meier worked with her young leading man on her first theatrical feature, 2009′s “Home,” where he played Isabella Huppert’s son when he was just 7. She’s emphatic that Klein is not the kind of child actor who has to be tricked into giving a performance.


“During the first casting, I ask him, ‘What do you like to do in your life, Kasey?’ And he told me, ‘Thinking.’ So I said ‘OK, think,’ and I turned on the camera, and he was amazing … He understands that acting is to be, not to look like. So I really wanted to write for him with this film, because it was such an amazing experience on my first film.”


The role of the severely neglectful “sister” was tougher to nail down, both for the director and her leading actress.


“This character was the challenge of the film,” Meier said. “Because Kacey’s character is a child, so for the spectator, of course he’s a victim. But with the character of Louise, for Lea as an actress, at the beginning for her it was very hard to find the fragility of the character. I showed her a lot of films like ‘Vagabond’ … I explained to her, you were 14 when you were pregnant; it was too young for a girl, and you stopped your studies and got bad jobs you cut with your family.”


Sometimes, she said, they’d fight because “she couldn’t find the fragility of the character, and suddenly, months later, wow – it was like we cut something open and all the emotion that came out from her was very deep. I was afraid of the spectators judging the character. It was not easy, in the writing, or in the directing with the actors, because I wanted that they would love these characters, even if they’re sometimes terrible. But I like terrible characters.”


Pond told Meier that when it came to supporting actress Gillian Anderson, of “X-Files” fame, “the first time I watched, I didn’t realize it was her till the end credits” – an experience probably shared by most of those in attendance at the screening.


“I’m very happy that you say that,” said Meier, “because if you recognize the actress, you think about the actress.” But the director did want Armstrong to provoke a where-have-I-seen-you-before vibe.


“I really wanted to be played by a star – not to have a star in my film, but because it was important for Simon to have a kind of phantasma this lady, of what he wants as a mother.


And as a spectator, you can have a phantasma on the star. So I like that she came from another country, and not speak French, because she’s almost an apparition.”


Meier admitted she was frightened before the Swiss premiere – before “Sister” went on to play various fests and win the special Golden Bear award at the Berlin Film Festival.


“When I had the first screening in Switzerland, a lady came back to me and was very moved by the film, because it’s usually a taboo to show poverty in Switzerland. She cried and told me, ‘I grew up in exactly the same place. My father was a worker in the factory we saw in the film, and as a child we never had the money to go up.’ I liked that she just said up.”


Movies News Headlines – Yahoo! News



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Death of the McMansion Has Been Greatly Exaggerated
















Who says Americans have fallen out of love with McMansions? It’s true that the housing bust shaved a few square feet off the average size of new homes in the U.S. But new single-family homes built last year were still 49 percent bigger than those built in 1973, according to Census Bureau data.  And it’s worth remembering that family sizes have shrunk over that period.


The peak size for new homes was an average of 2,521 square feet in 2007. By 2010 it was down to 2,392. That statistic fed into a slew of stories about the “new frugality.” A survey of builders conducted in December 2010 by the National Association of Home Builders predicted that the shrinkage would continue, with the average getting down to 2,152 by 2015.













But then a funny thing happened. In 2011, according to the Census Bureau, the average ticked up a bit, to 2,480 square feet.


That’s partly because mortgages were so hard to get that only the well-to-do, who buy bigger houses, were able to buy new homes in 2011, according to Stephen Melman, the director of economic services for the National Association of Home Builders. But it could also be that the “new frugality” story was somewhat oversold.


The NAHB is conducting another survey now. This time it’s interviewing potential buyers, instead of builders—who were deeply depressed when interviewed at the end of 2010, with housing starts down three-quarters from their peak.


Beneath the average, whatever it is, is a swirl of conflicting demographic trends. On one hand, boomers are aging and downsizing, and more people are living alone. On the other hand, there’s a rise in the number of households with more than one adult generation present. Those families need bigger houses. (You can sometimes cram a couple of kids into the same bedroom; try doing that with Grandpa and little Jimmy.)


The one-big-happy-family uptrend is amplified by immigration of Hispanics and Asians, where multigenerational households are more common. “They’re doing well economically, too,” says Melman. “There’s real buying power there.”


Businessweek.com — Top News



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Canadian October home sales dip, latest sign of cooling
















TORONTO (Reuters) – Sales of existing homes in Canada fell in October from September and year-over-year sales were down as well, the Canadian Real Estate Association said on Thursday in the latest signal that the housing market is slowing.


The industry group for Canadian real estate agents said sales were down 0.1 percent in October from September. Actual sales for October, not seasonally adjusted, were down 0.8 percent from a year earlier.













The housing market, which roared higher in 2011 and the first half of 2012, started to slow after the government tightened rules on mortgage lending in July in a bid to cool the market and prevent home buyers from taking on too much debt.


Housing market trends in Canada for 2012 can be characterized as before and after regulatory changes,” TD Economics senior economist Sonya Gulati said in a research note.


“In the first half of the year, sales and price gains were modest, but positive. More stringent mortgage rules and tighter mortgage underwriting rules have ‘purposely’ knocked the wind out of the housing market sails,” she said.


The home sales data showed diverging paths in Canadian housing depending on location. In Toronto and Vancouver, where sales and price gains were red hot in 2011 and early in 2012, the market has been cooling. But markets in the resource-rich western provinces of Saskatchewan and Alberta have been gaining strength.


“Opinions differ about how sharply sales have slowed depending on the local housing market,” Gregory Klump, CREA’s chief economist, said in a statement.


Led by Calgary, sales in October were up from a year earlier in almost two-thirds of local markets. Sales remained blow year-earlier levels in Toronto, Vancouver and Montreal, CREA said.


“These results suggest that the Canadian housing market overall has returned to a more sustainable pace,” Klump said.


CREA’s Home Price Index rose 3.6 percent in October from a year earlier, the sixth consecutive month in which gains in prices slowed, and the slowest rate of increase since May 2011.


While tighter mortgage rules have worked to slow the market, TD’s Gulati said the big question is what will happen when that temporary cooling effect wears off in early 2013.


“What happens thereafter is less certain. The low interest rate environment could pull homeowners back onto the market, causing home prices to once again trek upwards. Alternatively, an absence of pent-up demand may leave the market in a bit of a lull until interest rate hikes resume in late 2013,” she wrote.


“Under either scenario, it is safe to say that there is a low probability of out-sized home price gains over the near-term.”


A total of 402,322 homes traded hands via Canadian MLS systems over the first 10 months of 2012, up 0.8 percent from the same period last year and 0.4 percent below the 10-year average for the period, the data showed.


The number of newly listed homes fell 3.8 percent in October following a jump in September. Monthly declines were reported in almost two-thirds of local markets, with Toronto and Vancouver exerting a large influence on the national trend.


Nationally, there were 6.5 months of inventory at the end of October, little changed from the reading of 6.4 months at the end of September.


(Editing by Peter Galloway)


Canada News Headlines – Yahoo! News



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