Canada just got another recession warning—falling new vehicle sales. Statistics Canada (StatCan) data shows new motor vehicle sales fell sharply in August, marking the biggest drop for the month since 2010. Durable goods like vehicles and homes see sales fall after the peak of the business cycle, signaling a recession that can’t be managed with […]
Canadian real estate developers are pulling back, even as policymakers flood the system with incentives. Statistics Canada (Stat Can) data shows residential building permit values plunged in August, and the drop was even larger after adjusting for inflation. Canadian homebuilders are sending a clear warning signal: the risk is rising even faster than the astronomical […]
Canada may be fighting trade wars on two fronts, but its job market didn’t get the memo. Statistics Canada (StatCan) data show the country added tens of thousands of jobs in September. Heck, the data even shows a 6-figure addition of full-time jobs over the 30-day period. Suspicious? You’re onto something. Let’s talk about the […]
Canada’s job market oversold and underdelivered. Statistics Canada (StatCan) data contained a special Labour Force Survey (LFS) supplement examining labour market efficiency in September. The data reveals a huge mismatch—1 in 6 Canadians aren’t working in their field of post-secondary training, and a fifth are overqualified for the work they found. The problem is even […]
Canadian mortgage delinquencies are climbing at the fastest pace in a generation, and that’s only the visible part of the problem. Equifax data shows the rate continued its sharp ascent in Q2 2025, up from record lows barely two years ago. The trend offers only a glimpse of the broader credit stress now rapidly emerging […]
Halifax real estate is pitched as an affordable alternative to Toronto, once the world’s second-largest bubble. That pitch was successful, helping prices nearly double over just two years. There’s just one problem—Toronto’s condo bubble has popped, with prices falling 21% and all signs pointing to further declines. With Halifax condo prices near all-time highs, the […]
One of Canada’s largest banks just delivered bad news for real estate investors—it’s a bubble already deflating. BMO Capital Markets warns that home prices have been sliding for over three years, more closely resembling the US housing crash in 2007 than Ontario’s last correction. The bank expects a long, drawn-out recovery, cautioning it’s “next to […]
Canadian investors are trading in their loonies for shiny rocks—and it’s an ominous sign in plain sight. Statistics Canada (StatCan) data shows unwrought precious metal imports surged in August, driven by gold. It was the second-largest buying spree on record, so large it distorted national trade figures. Paired with the recent erosion in investment and […]
Canada’s central bank just delivered a speech that made every quant’s skin crawl. Last week, the Bank of Canada (BoC) revealed it’s preparing a major overhaul of how inflation is measured. In prepared remarks, Deputy Governor Rhys Mendes warned that mortgage costs have distorted the Bank’s preferred CPI readings. Now it’s considering whether to scrap […]
Toronto real estate may have to accept that its pre-pandemic premium is gone. TRREB data shows composite home prices fell further in September, with losses accelerating. A mild uptick in sales was overshadowed by inventory surging to a record high. The demand balance is weaker than during the 90s crash, the region’s last major correction. […]
