A Swiss mega bank is warning the global credit bubble has produced a global real estate bubble. UBS published its 2022 Global Real Estate Bubble Index this week, and Toronto took the top spot. Vancouver remains in the Top 10, with the bank noting all of Canada is generally frothy. The recent price growth is […]
Canada’s recession will hit much faster than expected, warned the country’s oldest bank this morning. In a research note to investors, RBC moved up its forecast for a moderate recession. They attributed this to soaring inflation, causing interest rates to climb very sharply over the past few months. They forecast hundreds of thousands of jobs […]
Canadian real estate prices are plummeting, but have a long way to go before the froth dissipates. BMO warned investors over the long weekend that home prices deviated from the trend by up to 76% in Q1 2022. Home prices historically only add a small premium to real wage growth and interest rates. However, Canada […]
Canada’s economy is eroding at an unusually fast rate, and financial conditions are tightening. Oxford Economics, a global macro research firm, warns their recession index shows a recession is almost certain at this point. It’s unlikely to be a brief one either, with the central bank unable to rely on lower rates due to high […]
Canadian real estate has never been less affordable, according to Canada’s largest bank. RBC warns housing affordability eroded to its worst level on record in Q2 2022, with households now requiring a record share of income. Despite falling home prices, affordability is still eroding due to rising interest rates. However, the bank sees home prices […]
Toronto real estate prices are reversing some of the gains made but have a long way to go before they’re gone. Toronto Region Real Estate Board (TRREB) data shows the composite benchmark, or typical home, fell once again in September. Greater Toronto home prices have now shed over $200k in value in just six short […]
Canadians have seen their net worth soar over the past couple of years. Now the market is taking back some of those gains, according to Statistics Canada (Stat Can). In Q2 2022, a sharp drop wiped out virtually all of this year’s gains. The wealthiest households have seen an average of nearly $200k wiped off […]
Ontario real estate will rise forever, since young adults wouldn’t move, right? That’s not what interprovincial migration data from Statistics Canada (Stat Can) shows. We talked about Ontario’s record outflows in Q2 2022, yesterday. The demographic moving deserves a deeper dive though, and where they’re moving is an important point to consider. A perfect storm […]
Ontario’s astronomical cost of living has residents fleeing by the tens of thousands. Statistics Canada (Stat Can) data shows interprovincial migration soar in Q2 2022. Ontario’s talent is fleeing to more affordable regions like Alberta and Nova Scotia. It’s so bad, a Big Six bank warned investors that immigration is having a harder time filling […]
Canadian real estate owners are doubling down on their windfall and becoming landlords. Statistics Canada (Stat Can) Census 2021 data reveals a boom in new homes used as rentals. Low rates have helped investors outcompete first-time homebuyers, as institutions have warned. New supply has seen the smallest share go to end users in decades, according […]
