Canadian homeowners are tapping their real estate windfall to fund a spending binge. Bank of Canada (BoC) data shows home equity lines of credit (HELOC) debt surged in September. HELOC debt slowed last year but now it’s back with a vengeance, growing faster than the economy. Experts say it provides a boost to the economy […]
Soaring Canadian real estate prices has left many in a form of poverty, shows government data. Statistics Canada (Stat Can) recently dropped the results of its 2018 housing survey. Amongst the many insights are the number of people living in shelter poverty. These are households that spend more than 30% of their income on housing […]
Canadian employers are struggling to find labor but this isn’t just reopening pains. Statistics Canada (Stat Can) data shows over one million vacant jobs in September. The common take is, this hiring boom is reopening pains as the economy grows. Further analysis of the same data set shows that might not be the case last […]
Canadian real estate buyers are getting more irrational, says the world’s biggest central bank. The US Federal Reserve (The Fed) published its Q2 2021 exuberance index recently. The index, considered a “smoking gun” for bubbles, shows Canada is well into a real estate bubble. Researchers say markets that become exuberant will experience a correction in […]
Canada’s new top dog at the bank regulator wants you to know they’re taking housing risks seriously. Office of the Superintendent of Financial Institutions (OSFI) Superintendent Peter Routledge discussed their housing priorities this week. In a speech to Vancouver CFAs, he said the financial system is safe but will get more regulations to keep it […]
Soaring Canadian mortgage debt might finally be showing some signs of cooling. Bank of Canada (BoC) data shows outstanding mortgage credit hit a high in September. Annual growth is now rising at one of the fastest rates in over a decade. However, the pace of borrowing is falling very quickly. This might be a sign […]
Canada has long been thought to be a welcoming hub for immigrants but not when it comes to housing or wages. Statistics Canada (Stat Can) released its Housing Experiences survey this morning. The study looks at how Canadians of various demographics felt about housing in 2018. Most are happy but it appears to be older […]
Canadian new home prices are growing at one of the fastest rates in history but they’ve begun to slow. The Statistics Canada (Stat Can) New Housing Price Index (NHPI) shows huge annual growth in October. Not quite as obvious, the growth has fallen from the August peak, which had been the largest since 1989. The […]
The US housing boom is experiencing a few hiccups but it’s not due to a lack of demand. The US Census Bureau released October housing starts and new building permit data. Housing starts slipped lower but remain historically high. Permits, which show future building intent, still remain elevated compared to last year. The number is […]
Canada’s inflation problem is getting worse, as the latest reading jumped to a multi-year high. The Consumer Price Index (CPI) ripped higher in October, according to Statistics Canada (Stat Can). Annual growth reached an 18-year high in the latest data, though you’d be lucky if your expenses increased by only that much. The majority of […]
