Canadian immigration is often the bull case for the Big Three immigration hubs — Toronto, Vancouver, and Montreal. A new Statistics Canada (StatCan) study on immigrant labor market outcomes puts a kink in the thesis though. The study focuses on the outcomes of immigrants between the 2001 and 2016 Censuses. Amongst the data, it reveals […]
Canadian real estate prices have been rising quickly, but it’s never been like this before. Canadian Real Estate Association (CREA) data shows home prices made a big jump in March. Over the past 12 months, home prices increased more than they did over the previous 4 years. That’s just at the national level. More than […]
Canadian real estate is in a melt-up, and the Government of Canada (GoC) was warned not to pour any gas on the fire. Naturally, they’re getting ready to pour gas on the exact fire they were told not to. On May 3, 2021, the GoC will expand the First-Time Home Buyer Incentive (FTHBI) program. The […]
The Canadian economy is recovering much faster than expected… just not in a healthy way. Canadian real gross domestic product (GDP) is down less than two points in Q4 2020. Digging into the numbers, we see the headline is better due to households doubling down on real estate mania. When housing is stripped from GDP, […]
Canadian homebuilding lagged in the past, but it now far exceeds population growth. CMHC data shows home completions started to outpace population growth last year. By the fourth quarter, there are now 18 homes completed for every person the population grows. Curiously, home prices have been soaring in growth. Canadian Homebuilders Are Still Hammering Out […]
The Canadian property bubble was recognized by an unlikely entity — the Canadian government. MP Adam Vaughan dropped the b word this week. Vaughan isn’t just an elected official, but also the Secretary to the Minister in charge of most of the country’s housing policy. In a Twitter exchange, he explained how difficult it’s been […]
A new mortgage stress test? Don’t bother me with those peasant details. After Canada’s property bubble attracted global criticism, they announced tighter mortgage lending. On April 8, the Office of the Superintendent of Financial Institutions (OSFI) said they would make the stress test harder. By the following Monday, the first bank launched a pilot mortgage […]
The Canadian economy’s recovery is well underway, and that means easy money may be on the way out. Bank of Canada (BoC) updated its outlook earlier today. The central bank said the accelerated recovery will allow them to ease stimulus. To start, they’ll taper quantitative ease (QE), and speed up the end of their commitment […]
The Government of Canada (GoC) is facing mounting pressure to do more about home prices. BC-based housing activist Raymond Wong launched an e-petition last week. The petition calls for the Bank of Canada (BoC) to consider home prices when setting rate policy. In less than a week, the petition has enough signatures to be certified […]
Canadian real estate prices are rising at rates even the banks are warning about. There’s a lot of reasons this is happening, but one rarely discussed is the supersized borrowing from the Government of Canada (GoC). A lot of cash was needed during the pandemic, but Canada’s discretionary spending topped the G20. To help facilitate […]
