Canada is serious about tackling real estate speculators… just not anytime soon. Just hours before the Oct 31st vacant home filings were due, the deadline was delayed by six months. The last minute change is the second extension, and delays the vacant home count. It’s quickly becoming a trend for policymakers to publicly pass aggressive […]
Canada may have just killed one of its last golden geese. Immigration, Refugees and Citizenship Canada (IRCC) data shows new study permits made a sharp drop in August 2023. The decline can be attributed almost entirely to falling applications from India, a market that represented nearly half of all permits in 2022. The loss of […]
Canada’s leaders are beefing with the country’s central bank over affordability. Last month, Premiers notified the Bank of Canada (BoC) that rate hikes are making life unaffordable, especially when it comes to housing. The BoC fired back a warning that they shouldn’t be trying to influence a central bank. That’s technically correct, but leaves people […]
If photos of policymakers in construction vests were new homes, Canada’s housing supply would be booming. Unfortunately, that’s not the case. BMO Capital Markets is warning investors that residential construction investment is plummeting. The drop may indicate the slowdown in new homes could drop even further in the near-future. The bank quips, perhaps the government […]
Canada’s record population growth has amplified a labor shortage in key professions. BC is hoping its new International Credentials Recognition Act (ICRA) can help. The recently tabled legislation is designed to attract immigrants to certain fields by recognizing foreign credentials. Most would agree on the list of professions, with just a tiny exception. Have you […]
Canadian interest rates are surging higher and setting up a hurdle for prices. So last week, when a former Bank of Canada (BoC) appeared on Bloomberg, his statement on prices being too high for current rates was clear. Most, including Bloomberg, paired this with the mortgage rate burden. Clearly, interest rates need to come down, […]
Canadians looking for student loan relief have a new ally—Ontario’s real estate industry. The Ontario Real Estate Association (OREA), a trade organization representing 90,000 Realtors, released a new report called The ˆImpact of Student Loan Debt On Homeownership. Many students feel their loans are yet another hurdle to ownership, and the organization has a few […]
Canadian inflation is heading in the wrong direction as rising energy costs return. The Statistics Canada (Stat Can) Consumer Price Index (CPI) shows annual growth accelerated in August. It was the second month inflation accelerated, leading to the loss of the briefly-held title of “lowest inflation in the G7.” Economists expect inflation to continue rising […]
Canada’s labor market is just off record lows, but a quick drive and it may not seem that way. Statistics Canada (Stat Can) reported the unemployment rate was 5.5% in August, just off the record low. Yet viral videos are popping up with lines of hundreds of people looking for entry-level jobs. More and more […]
Canada’s recent population boom seems like it’ll last forever, but reality may arrive soon. Government of Canada (GoC) data reveals a sharp drop in permanent resident applications in July. The direct impact on population growth is minor, since temporary residents drive growth. However, continuing to attract temporary residents will be difficult once they encounter the […]
