Canadian homeowners are tapping their real estate windfall to fund a spending binge. Bank of Canada (BoC) data shows home equity lines of credit (HELOC) debt surged in September. HELOC debt slowed last year but now it’s back with a vengeance, growing faster than the economy. Experts say it provides a boost to the economy […]
Soaring Canadian real estate prices has left many in a form of poverty, shows government data. Statistics Canada (Stat Can) recently dropped the results of its 2018 housing survey. Amongst the many insights are the number of people living in shelter poverty. These are households that spend more than 30% of their income on housing […]
Canadian employers are struggling to find labor but this isn’t just reopening pains. Statistics Canada (Stat Can) data shows over one million vacant jobs in September. The common take is, this hiring boom is reopening pains as the economy grows. Further analysis of the same data set shows that might not be the case last […]
Canadian real estate buyers are getting more irrational, says the world’s biggest central bank. The US Federal Reserve (The Fed) published its Q2 2021 exuberance index recently. The index, considered a “smoking gun” for bubbles, shows Canada is well into a real estate bubble. Researchers say markets that become exuberant will experience a correction in […]
Canadian housing is far outpacing the growth of its economy, shows government stats. That’s what 2020 home assessment values show, provided to us by Statistics Canada (Stat Can). Home prices added billions in value last year, as you might have guessed. What you may not know is Canadian homes have added so much value it’s […]
Canada’s new top dog at the bank regulator wants you to know they’re taking housing risks seriously. Office of the Superintendent of Financial Institutions (OSFI) Superintendent Peter Routledge discussed their housing priorities this week. In a speech to Vancouver CFAs, he said the financial system is safe but will get more regulations to keep it […]
Canada prides itself on being an ideal environment for entrepreneurs but stats disagree. Statistics Canada (Stat Can) employment data shows self-employment is shrinking. These individuals now represent the smallest share of employment since the early 1980s. At the same time, the public sector has been hiring roughly two people per self-employed job lost. Employment might […]
Great news! The odds of a housing correction are soaring and people might lose a lot of cash — but the banks will be fine. That was a key takeaway from Bank of Canada (BoC) deputy governor Paul Beaudry today. Seriously. In a speech to the OSC, the central bank warned Canadian real estate has […]
Canadian financial institutions increasingly see the financial system as risk-free. That might be a risk itself. The Bank of Canada (BoC) completed its biannual Financial System Survey (FSS) this week. It found institutions are buying “riskier” assets to make up for low interest rates. Risk managers see the risk as low, believing the financial system […]
Soaring Canadian mortgage debt might finally be showing some signs of cooling. Bank of Canada (BoC) data shows outstanding mortgage credit hit a high in September. Annual growth is now rising at one of the fastest rates in over a decade. However, the pace of borrowing is falling very quickly. This might be a sign […]
