Canada has long defended its generous immigration policy, but has recently reversed course. Many assume this is temporary pandering that will soon loosen, but the odds are slanted towards further tightening. US Customs and Border Protection (CBP) data shows the country has stopped over 1,200 terror suspects on their “Watchlist” attempting to cross from Canada […]
Nova Scotia is the latest province to wage war on remote work as governments try to anchor people to big cities. The Government of Nova Scotia (GNS) has ordered thousands of its non-union staff to work out of the office full-time starting next month, even those who haven’t since 2015. The move follows corporate and […]
Canada’s largest real estate market is turning into a headache for the country’s largest bank. Yesterday we mentioned RBC’s Greater Toronto Area (GTA) mortgage portfolio has seen serious mortgage delinquencies (90+ days) soar in Q3 2024. We received a few requests for a deeper dive, so here it is. Toronto real estate may seem boring […]
Canada appears to be doubling down on its position that more demand will create affordability. Earlier this week, the Government of Canada (GoC) announced its “boldest mortgage reforms ever,” including its most ridiculous mortgage reform ever—first-time buyers using state-backed, high leverage loans to purchase $1.5 million homes. Confused? You’re probably thinking: First-time buyers usually don’t […]
Canadian real estate remains pudding-soft, despite expectations that rate cuts would firm the market. Canadian Real Estate Association (CREA) data shows the price of a composite benchmark (typical) home fell in August. Weaker demand and rising supply were the general backdrop, as lower rates motivated more sellers to jump into the market than buyers. Experts […]
Canadian real estate experienced a major shift during the pandemic as remote work was embraced. Unanchoring careers from pricey cities, people fled to more remote and affordable smaller cities, bringing a surge of economic activity (and higher home prices), at the expense of big cities. Policymakers are now attempting to reverse this move by pushing […]
Canada’s economy went from struggling with productivity growth to an all-out crisis. That’s the take from TD this morning, who warns the productivity crisis is worsening. Skewed incentives have reallocated productive investment to non-productive areas, now consuming a larger share of the economy. If this persists, the bank warns that Canada will see further erosion […]
Dark clouds are forming over Canada’s economy, but most households are blissfully unaware… for now. A new research note from BMO Capital Markets warns that young adults are facing the “gruesome twosome”—soaring unemployment and unaffordable housing. The combination has created an environment on par with the country’s worst recessions. It’s an issue largely slipping under […]
The struggle is real, according to nearly a third of Canadian households. This morning Statistics Canada (Stat Can) released the 2022 Canadian Housing Survey, a bi-annual window into the cost of living across the country. The latest findings reveal that both renters and homeowners are increasingly struggling. Renters were most likely to report financial difficulty, […]
Greater Vancouver real estate’s luck might be running out. Greater Vancouver Realtors (GVR) data shows the price of a composite home slipped in August. The market has managed to avoid the significant correction seen in other major markets, but things are suddenly heading in the wrong direction. Fewer sales and rising inventory is helping to […]
