Greater Vancouver residents have been fleeing to the country. New Statistics Canada (Stat Can) data shows the migration pattern of people from Vancouver CMA in 2019. Tens of thousands of former residents ditched the city for other parts of the country. Rural B.C. was the biggest winner of former residents, but so were other big […]
Canada’s real estate markets are booming, but lenders are preparing for mortgage losses. Bank of Canada (BoC) data shows the allowance for credit losses due to mortgages reached a record high in Q3 2020. The record was reached with the biggest surge in the annual rate of growth since the Great Recession. Allowance For Credit […]
Canada’s economy just became even more dependent on real estate. Statistics Canada (Stat Can) data shows residential investment soared to a record high in Q3 2020. The rate it’s grown over the past few months has far outpaced the economy. Consequently, residential investment is now the biggest percent of GDP it has ever been. Residential […]
Canada’s largest real estate markets aren’t even close to seeing employment recover. Statistics Canada (Stat Can) data shows the number of employed people in the country slipped in December. The largest real estate markets moved in various directions last month. However, all have significantly fewer jobs than they did last year. Canadian Employment Slipped Lower […]
Canadian mortgage delinquencies are fairly boring these days, until you drill down and look at the demographic shift. Canada Mortgage and Housing Corporation (CMHC) data shows mortgage delinquencies were flat in Q3 2020. When looking at their age breakdown though, it shows delinquencies on mortgages held by seniors is soaring. Balancing out the statistic is […]
Canadian real estate will have strong demand, but growth is projected to shift soon. Canada Mortgage and Housing Corporation (CMHC) published household projections earlier today. The projection is based on Statistic Canada (Stat Can) population projections made in 2019. Even by the slowest measure, a rise in household formation is expected. However, traditionally high growth […]
Canadian mortgage delinquencies are falling, except for people really behind. Canada Mortgage and Housing Corporation (CMHC) data shows the change of mortgages past due in Q3 2020. Most segments of days past due (DPD) show a sharp decline in the most recent reported quarter. This was largely expected due to payment deferral programs. One segment […]
Canadian seniors are still withdrawing home equity at a brisk pace over the past few months. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt hit a new record in October. Growth of reverse mortgage debt picked up from previous months as well. However, it’s still growing at a slower than […]
Most Canadian households saw their net-worth grow last year, but some have begun to see it roll back. Statistics Canada (Stat Can) data published this week, shows the median household net-worth grew in 2019. The growth was much slower than observed in the previous data release though. This was led by a decline in net-worth […]
Canadian households are still hanging onto cash, or can’t find a place to spend it at least. Statistics Canada (Stat Can) data shows the household savings rate fell from record levels in Q3 2020. While the rate is off of record highs, it’s still higher than anything Canada’s seen since the early 90s. Household Savings […]
