Greater Toronto real estate buyers are returning, but the market has a long way to go. Toronto Regional Real Estate Board (TRREB) data shows that both sales and home prices climbed in November. The positive market news is overshadowed by the unusually lofty levels of inventory that continue to rise. Rising prices demonstrates FOMO is […]
What pandemic? Statistics Canada (Stat Can) recently revised its gross domestic product (GDP) data to show the economy is doing better. Revisions are routine, just not at this scale—which BMO called “re-writing” the pandemic. Now the data shows the hardest hit industries weren’t nearly as impacted as previously believed, and they’ve all recovered at this […]
Canada’s largest bank believes weak economic output will justify big rate cuts in a few days. A new RBC report notes that gross domestic product (GDP) climbed in Q3 2024, but the slower-than-expected growth was driven entirely by government spending. More concerning to their team was the 6th consecutive per-capita decline, with the first Q4 […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian GDP Rises On Gov Spending, Big Revisions To Slow Rate Cuts: BMO Canada’s economy is growing faster than anticipated, which may lead to higher rates. Real GDP showed annualized growth of 1.2% in Q3, slightly below expectations. However, the report came […]
Canada’s economy is still chugging along, and doing better than many experts thought. Statistics Canada (Stat Can) data shows Gross Domestic Product (GDP) advanced in Q3 2024, mainly driven by household borrowing and government spending. A continued drop in per-capita GDP was almost entirely overshadowed by big upward revisions to prior data. One of the […]
Millions of Canadian visas expire next year and the country isn’t sure how to deal with it. That became clear when policymakers fumbled in parliament when answering what Canada plans to do if people refuse to leave. The Government of Canada (GoC) expects nearly 5 million visas to expire next year, and hopes those who […]
Good news. Canada prevented the mortgage cliff that would have seen existing borrowers pay more. The bad news? The rapid rate cuts and extended amortizations are only expected to help new buyers for a few weeks before further affordability erosion. That was the take in a new report from Oxford Economics, who doesn’t see affordability […]
Canadian immigration policy changes may mean a drastic shift for new home prices in the coming month. Statistics Canada’s October New Housing Price Index (NHPI) shows the sharpest monthly drop since 2009. The drop comes after the index returned to positive growth, potentially warning that last month’s immigration announcement has shifted buyer outlook. Canadian New […]
Demand for new homes in Toronto has fallen to one of the weakest levels in years, despite soaring incentives. Altus Group and developer-group BILD GTA data shows new homes sales plunged even lower in October. Even with prices down more than 30% since peak and falling rates, buyers are still sitting the market out. The […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Loses 1 In 5 Immigrants, High-Skill Labor Most Likely To Flee Canada is world-renowned for its ability to attract immigrants, but few realize how many it fails to retain. A new study found that 1 in 5 immigrants leave for onward […]
