KeatsConnelly Cross-Border Weekly Best of the Web 2014-12-19

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week we offer a mixed bag of articles including a look at the rise of the subprime lending market in Canada, a few on OPEC’s position in oil markets and, finally, a discussion on tips for reducing potential exit taxes when leaving Canada.

Subprime lending market in Canada skyrockets to record as banks tighten reins (http://www.financialpost.com/) – Subprime lenders’ share of the Canadian mortgage market has reached record levels, according to data obtained by the Financial Post, putting increased risk on the housing market. Alternative lenders, who are major beneficiaries of that subprime market, now underwrite 2.2% of all mortgage loans — probably not enough to cause any major structural damage to the housing market in the event of defaults, but their market share has exploded…

OPEC is finished and the oil crash will continue, warns Bank of America (http://www.financialpost.com/) – The OPEC oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over coming months as market forces shake out the weakest producers, Bank of America has warned. Revolutionary changes sweeping the world’s energy industry will drive down the price of liquefied natural gas (LNG), creating a “multi-year” glut and a much cheaper source for Europe’s gas needs. Francisco Blanch, the bank’s commodity chief, said OPEC is “effectively dissolved” after it failed to stabilize prices at its last meeting. “The consequences are profound and long-lasting,” he added…

Leaving Canada? Minimize the departure tax when going (http://www.theglobeandmail.com/) – Last week I introduced James and Kate – friends who will be moving to the United States in the new year. I reminded James that the U.S. can be a strange place with some crazy laws. If you believe what you’ll find on the Internet, it’s illegal for chickens to cross the road (Quitman, Ga.), police officers are allowed to bite a dog if they think it will calm the dog down (Paulding, Ohio), it’s against the law to sing off-key (North Carolina), and you’re not allowed to eat fried chicken other than by using your hands (Gainesville, Ga.). The good news? James and Kate are moving to California – which is not on the list…

Come back next week for more interesting news and articles. Enjoy your weekend!

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