The global economy is past the point of being able to avoid a sharp recession, warns the watchdog of the global financial system. The IMF World Economic Outlook was released this week, forecasting that global real gross domestic product (GDP) will slow sharply in 2023. A hard landing is now expected, with advanced economies likely […]
Canada’s busy Spring market hasn’t begun with the typical flood of sellers. BMO Capital Markets warned investors a lack of new listings for sale might be a bigger problem than low sales. They attribute this to a number of factors, but they all boil down to one issue—there’s little reason to sell. Canada is hitting […]
Canadian real estate might be slow right now, but a large bank thinks it’s going to “rip” soon. A new analysis from Scotiabank warns investors that the Federal government is at odds with the Bank of Canada (BoC) goals. The country’s central bank is trying to slow demand and the resulting inflation, while the Fed […]
Canada’s foreign buyer ban has been in effect for hours, so it’s time to start loosening it, no? Just 86 days after passing restrictions on non-resident buyers, the country has quietly loosened restrictions for non-resident investors, and temporary residents. Most likely because the ban was largely just a distraction from the speculation coming from inside […]
The world’s largest alternative asset manager looks a little strapped for cash. Blackstone made headlines over the past few years for its real estate shopping spree. Deploying what seemed like unlimited capital, it bought everything in sight. Heck, they probably even outbid you for grandma’s home. That’s come to an abrupt end, as it defaults […]
Canada was no exception to the retreat of global bond yields after the US banking crisis hit last week. The Government of Canada (GoC) 5-Year Bond yield plunged at one of the fastest rates in a generation. It wasn’t alone, with most yields falling—potentially signaling lower borrower costs. That is, if the panic-driven drop sticks […]
A Canadian regulator is sounding the alarms on private mortgages, but are they too late? The Financial Services Regulatory Authority of Ontario (FSRA), which oversees mortgage brokers, recently issued a warning on the risks of private mortgages. They have observed a boom in consumers using these high interest loans, often paired with interest only repayment. […]
Canada’s “Big Six” banks are now some of the country’s biggest real estate bears. Quarterly regulatory filings reveal their forecasts used for risk planning, and capital allocation. Despite seeing long-term value, just one Big Six has forecast home prices rising over the next year. Most don’t see a quick recovery either, with some expecting prices […]
Canada’s central bank didn’t break its pause, but signaled it will still drive borrowing costs higher. This morning, the Bank of Canada (BoC) announced the overnight rate will hold at 4.5%, surprising few. They did just announce a pause at the last meeting, so reversing course was unlikely. However, that doesn’t mean borrowing costs won’t […]
There’s a Canadian real estate correction? Apparently no one told Toronto. TRREB data shows home prices didn’t just climb in February, but made a 5-digit jump. Prospective buyers with their buyer-feet ice cold in the snow, stood puzzling and puzzling—asking, how can it be so? It came without rate cuts. It came without speculators. it […]
