Canadian real estate prices are declining, but agents across the country don’t quite agree. Canadian Real Estate Association (CREA) data shows the price of a composite benchmark (“typical”) home fell in May, pushing annual growth lower. The national data paints a picture of markets cooling, but most markets saw price growth last month outside of […]
Canada’s growth strategy is ineffective, and actually putting it further behind. That’s the general takeaway from the OECD’s 2024 Economic Outlook for Canada. The intergovernmental organization representing advanced economies, congratulates the country on its record population growth. It’s unclear how this occurs with low real GDP growth and rising unemployment, but the agency has a […]
Canada’s highly indebted households are now too indebted for prudential management. After a low rate, investor-driven home buying spree, many borrowers are unable to keep up with rising rates, despite having been “stress tested” for a similar scenario. As a result, banks and regulators granted temporary extensions to the maximum period a mortgage can be […]
If Greater Toronto is still ahead of the national curve, Canada may be in trouble. Statistics Canada (Stat Can) data shows the unemployment rate climbed sharply in May. Rising unemployment is a national trend, but the rapid pace at which it’s climbing can be attributed to Greater Toronto, home to a third of the increased […]
Canada’s record population growth combined with slowing new home construction might seem paradoxical at first. The Government of Canada (GoC) claims it’s because housing is “illegal” but a confidential memo sent to lenders indicates it’s an issue of leverage. The CMHC quietly notified lenders they’ll be extending the maximum amortization, or length of repayment. The […]
Canada’s economy went from boom to bust faster than anyone could anticipate. Statistics Canada (Stat Can) data shows slower-than-expected real gross domestic product (GDP) in Q1 2024, along with a downward revision for the previous report. Combined with the rapid population growth, this has led to a rapid decline in per-capita real GDP. In fact, […]
Canada’s favorite Maritime province has been a big winner when it comes to real estate. It’s economy? Not so much. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) per capita made a sharp downturn in 2023. The province’s shock was so large, it returned the quality of life measure back to 2016-levels. […]
Canadian real estate prices have surged in almost every market, with a typical home price doubling in many regions. A median household in major cities like Toronto and Vancouver would need to save over 20 years for just the down payment, more than 3x the historic average. Seems absurd? The outlandish scenario was apparently a […]
Canada made yet another material misrepresentation of the facts when pitching higher taxation. After experiencing sharp criticism regarding the data and statements used to justify an increase in capital gains taxation, the Liberal Party of Canada (LPC) is doubling down. In a new video delivering the “facts” on the capital gains issue, the party’s leader […]
Canadian renters are getting a rough introduction to the country’s foreign investor problem. The Canada Revenue Agency (CRA) just informed tenants they’re on the hook for any unpaid taxes their non-resident landlord may owe. In a bizarre decision, the nation’s tax authority is telling tenants who pay rent to non-resident landlords to withhold a portion […]
