Co-Founder and chief data nerd at Better Dwelling. Named a top influencer in finance and risk by Thomson-Reuters.
Canadian real estate prices have already begun to see growth slow, but this is just the beginning. Oxford Economics is reiterating its forecast as factors line up to return affordability. They see home prices falling by 24%, wiping out most of the gains made since the start of 2020. The declines are expected to begin […]
Canada’s real estate bubble may force the country’s central bank to put inflation on the back burner. Yesterday, Bank of Canada (BoC) Deputy Governor Tony Gravelle addressed Quebec economists. In his speech, titled the Perfect Storm, he explained various interest rate scenarios. The one that stood out most was pausing interest rates due to housing […]
Just how big is Canada’s real estate bubble? Canadians, especially in the real estate industry, are already warning rate hikes are damaging the economy. While large price drops sound scary, no one had realized how scary large price gains had become. A typical home can drop the equivalent of a median household’s income, and only […]
Intel just confirmed, Canadian real estate is a haven for money laundering and fraud. Criminal Intelligence Service Canada (CISC), a national intelligence agency, quietly produced an anti-money laundering report in 2020. The report focuses on the scope and extent of money laundering in Canada. The agency found real estate was used extensively as a tool […]
Canadian inflation is the highest in decades, and it’s even higher for those without a mortgage. Statistics Canada (Stat Can) data shows growth of the Consumer Price Index (CPI) hit a 31-year high in March. But when mortgage interest costs are excluded, inflation is even higher — the highest growth in the agency’s data set. […]
Canadian real estate prices won’t correct due to population growth, right? Well, BMO Capital Markets shared a different take with institutions this morning. The bank explains there is no historical evidence to support this narrative. During the last significant home price crash, Canada saw its population grow at a faster rate. They warn interest rates […]
Canada’s real estate industry is sounding the alarms on higher rates, warning it’ll “punish” buyers. However, these folks are blissfully unaware that mortgage costs are near record lows. In real terms, households have never had access to mortgages this cheap, which is part of the problem. Central banks distorted credit markets to the point mortgages […]
Australia’s central bank raised interest rates for the first time in a decade to try and calm inflation. The Reserve Bank of Australia (RBA) hiked rates this morning, the first hike since 2010. The cash rate is now 0.35%, an increase of 25 basis points (bps). It’s not particularly high, but just a small increase […]
North America’s busiest construction hole is seeing work grind to a halt this week. LiUNA Union Local 183‘s residential construction members voted to strike last night. The local represents a significant share of Greater Toronto’s residential tradespeople. As cost of living talks broke down, the union’s members entered a legal strike position. North America’s Largest […]
From transitory to forcefully, Canada’s central bank now believes it must act aggressively to tackle high inflation. Bank of Canada (BoC) Governor Tiff Macklem acknowledged some mistakes interpreting inflation. Speaking to lawmakers, he explained they are working to correct the issue. Canada’s economy has recovered and moved into excess demand, allowing them to pursue higher […]
