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Canada will hold off on trade deal with China until its behaviour is ‘more reasonable,’ says ambassador

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Canada’s ambassador to China says a trade pact with Canada likely won’t be reached until China caves on certain controversial policies.

John McCallum says most of the work he is doing in Beijing right now is focused on bridging policy gaps between Canada and China on agricultural market access, wages and gender equity, and on addressing issues with the Asian nation’s human rights record.

“We are doing our best to persuade China to behave in what we would regard as the more reasonable way,” McCallum told Chris Hall, host of CBC Radio’s The House, on Thursday.

Prime Minister Justin Trudeau and members of his cabinet spent time in China in December working toward a free trade agreement, but left empty-handed.

Renewed efforts are now underway. Finance Minister Bill Morneau and Trade Diversification Minister Jim Carr will be attending high-level business meetings in Beijing next month with Chinese political and business leaders.

But those efforts alone won’t be enough to make a deal, McCallum said.

The meetings next month should be treated as “building blocks,” he said, because even though Canada wants an agreement, it needs to see improvements in China’s human rights record before signing any papers.

McCallum added there’s potential in the future for China to join the soon-to-be-ratified Comprehensive and Progressive Trans-Pacific Partnership (CP-TPP) trade deal.

Troublesome, uncontrollable

McCallum said he’s had conversations with other ambassadors in recent days about the challenges posed by China’s approach to human rights and other issues.

This fall, the UN blasted China over “deeply disturbing” allegations of large-scale re-education camps in Xinjiang province, where up to a million ethnic Uighurs have been detained, and a Human Rights Watch report that shed light on the Chinese suppression of Turkic Muslims in that same province.

However upsetting China’s actions are, McCallum acknowledged that “at the end of the day, China will do what China wants to do.

“China has to be a very important part of our strategy because China is so huge.”

‘No one is telling us we can’t make deals,’ says the Minister of International Trade Diversification of the USMCA’s Ch. 32. 7:40

In the absence of a formal free trade deal, McCallum said, the government is touching base with Chinese officials to talk about how Canadian companies can get involved in infrastructure projects in their nation.

After the new United States-Mexico-Canada Agreement (USMCA) was announced, China criticized a clause in the trade deal limiting the leeway given to USMCA nations to negotiate trade deals with China, calling it a political dominance move by the U.S.

Section 32.10 of the USMCA requires the signatory countries to notify each other if they enter into trade talks with a “non-market” economy. Some experts argue the clause gives the Americans veto power to stop Canada from signing a free trade deal with China.

Trudeau has said Canada is open to doing more business with China now that a trade agreement with the United States and Mexico has been finalized.

Listen to the full interview with John McCallum Saturday on The House, at 9 a.m. on CBC Radio One.

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7 Tips For First-Time Home Buyers In Calgary

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Buying a house for the first time can be overwhelming to say the least. If you’re wondering what neighbourhood to go with, what you can afford, or even how to just get started on the process, let us take some stress off your hands! We’ve teamed up with Hopewell Residential to give you 7 tips to ensure the home you end up with is everything you dreamed of.

Hopewell Residential is a five-time Developer of the Year award winner, so their expertise is second-to-none in Calgary and beyond. Who better to learn home-buying tips from than the homebuilders themselves?

Create a checklist of needs & wants

This is a biggie. When you’re buying your very first home, you’ll want to weigh your needs vs. your wants. Ensuring you have what you love in your first home is a big, big deal.

What should you do? Easy. Set up a list of needs and a list of wants, but be pretty strict with yourself, and make sure you take your lifestyle into consideration. With the increase in remote work over the past year, it’s important to keep in mind that a home office or flex room might just be the key to maximizing at home happiness. Especially if you’re thinking you might be expanding your family later on, spare rooms and extra space is key (but more on that later!).

Or for instance, you might need a home in an area with a high walkability score, but you want to be close to certain amenities. Set yourself up with the right level of compromise and the number of homes that actually fit your ‘perfect’ idea will skyrocket.

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‘Don’t give up’: Ottawa Valley realtors share statistics, tips for homebuyers in ‘extreme’ sellers market

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The real estate market in the Ottawa Valley can be summed up this way: people from far and wide are in a buying frenzy, but there’s hardly anything to buy at the “store,” and the limited inventory is overpriced.

This “stampede” — as one realtor described it — will affect rural towns as residents grapple with finding affordable housing and agonize over their inability to purchase homes in their price range.

“We are seeing a lack of inventory in all price ranges,” said Laura Keller, a real estate agent from Carleton Place.

Helen Vincent, a Renfrew realtor, said she’s never seen a market like this in her 36 years of practice. “We postpone offers for four to five days in order to get all the buyers,” she said.

Multiple offers — between seven and 10 — became the norm, with cash offers and no conditions, as buyers faced bidding wars. “In Ottawa, they have up to 50 (offers),” she added.

“It’s very stressful. You’re going to get nine (people) ticked off, and one happy. So many people are disappointed,” Vincent said.

Terry Stavenow, an Arnprior realtor for 40 years, said that “the pent-up need took over with inventory going low. It made a stampede on everything that was available.“

“Brand new housing — it’s very much gone. Several building developers are rushing to get inventory. They usually don’t do construction in the winter months,” said Stavenow.

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10 Tips For First-Time Home Buyers

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Buying a home for the first time is exciting and a commitment to the future. It’s often challenging, too, and the process requires a lot of steps, many of which can be tricky to navigate as a first-time home buyer.

What are some things you should keep in mind as a first-time home buyer?

First-Time Home Buyer Tips

Here are 10 tips to keep in mind as you begin your journey toward homeownership.

1. Have Your Finances in Order

It’s wise to begin saving as early as possible once you’ve made the decision to purchase a house. You’ll need to consider the down payment, closing costs (which often range from 2% to 5% of the down payment), as well as move-in expenses.

You also need to understand the other costs of homeownership, such as mortgage insurance. property taxes, utilities, homeowner’s insurance, and more.

2. How Much Can You Afford?

Knowing how much you can realistically afford in a home is another important financial consideration. Look for the home of your dreams that fits your budget.

One way to avoid future financial stress is to set a price range for your home that fits your budget, and then staying within that range. Going through the preapproval process will help you understand what price range is realistic for your budget.

3. Make Sure Your Credit is Good

Another thing to keep in mind as a first-time home buyer is your credit score because it determines whether you qualify for a mortgage and affects the interest rate that lenders offer. 

You can check your credit score from the three credit bureaus – Experian, Equifax, and TransUnion.

This is another good reason for getting preapproved before you start your search. Learn more about the preapproval process and your credit score.

4. Choose The Right Real Estate Agent

A good real estate agent guides you through the process every step of the way. He or she will help you find a home that fits your needs, help you through the financial processes, and help ease any first-time buyer anxiety you may have.

Interview several agents and request references.

5. Research Mortgage Options

A variety of mortgages are available, including conventional mortgages – which are guaranteed by the government – FHA loans, USDA loans, and VA loans (for veterans).

You’ll also have options regarding the mortgage term. A 30-year fixed-rate mortgage is popular among many homebuyers and has an interest rate that doesn’t change over the course of the loan. A 15-year loan usually has a lower interest rate but monthly payments are larger.

6. Talk to Multiple Lenders

It’s worth your time to talk to several lenders and banks before you accept a mortgage offer. The more you shop around, the better deal you’re liable to get – and it may save you thousands of dollars.

7. Get Preapproved First

Getting a mortgage preapproval (in the form of a letter) before you begin hunting for homes is something else to put on your checklist. A lender’s preapproval letter states exactly how much loan money you can get.

Learn more about the preapproval process and how preapproval provides you with a significant competitive advantage in our article How Preapproval Gives You Home Buying Power.

8. Pick the Right House and Neighborhood

Make sure to weigh the pros and cons of the different types of homes based on your budget, lifestyle, etc. Would a condominium or townhome fit your needs better than a house? What type of neighborhood appeals to you?

9. List Your Needs and Must-Haves

The home you purchase should have as many of the features you prefer as possible. List your needs in order of priority; some things may be non-negotiable to you personally.

10. Hire an Inspector

Hiring an inspector is another crucial step in the home buying process. An inspector will tell you about existing or potential problems with the home, and also what’s in good order. You can learn more about home inspections and how to find a home inspector through the American Society of Home Inspectors website.

Buying a home for the first time is a challenge, but it’s one you can handle with the right planning and preparation.

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