Greater Toronto real estate buyers were still confident in their purchases last month, despite pandemic. Toronto Regional Real Estate Board (TRREB) data shows sales made a big jump in March, despite a provincial lockdown. Despite the appearance of a sales boom, last month was still one of the slowest Marches on record. Even so, exuberant […]
Canadian insolvency filings have been pushing to new highs recently. Office of the Superintendent of Bankruptcy Canada (OSB) data shows insolvencies rising quickly in February. Filings over the past year are now at the highest level since 2010, with growth accelerating… and this is before the pandemic was declared Canada Insolvency Filings Reach Highest Level […]
Canadian households didn’t need incentive to borrow, as credit growth was already accelerating. Bank of Canada (BoC) data shows the outstanding balance of household debt reached a new high in February. The rise of debt was due entirely to inflating mortgage balances. Consumer credit, the other major segment, continued to nosedive – printing a second […]
Greater Vancouver real estate buyers didn’t yield to warnings of pandemic. Real Estate Board of Greater Vancouver (REBGV) data shows a big climb in real estate sales for March. Despite warnings of a public health emergency, buyers still jumped into the market. It wasn’t until the province declared a state of emergency did buyers slow. […]
Despite a lockdown due to the COVID-19 pandemic, thousands of people in Toronto still bought a home. Toronto Regional Real Estate Board (TRREB) data shows a big increase in March sales. The rise in sales was due to the first-half of the month, prior to the board’s request to stop face-to-face activity. Despite the request, […]
Canada’s restaurant apocalypse is bad, and about to get a lot worse in the next few weeks. Restaurants Canada estimates the industry lost 800,000 jobs in March, and a tenth of restaurants have already permanently closed. The organization is forecasting Canada will lose almost a third of restaurants by month end. Why Do You Care? […]
Toronto’s busy streets are suddenly deserted due to the pandemic, and criminals are taking advantage. Anecdotally, officers say they’ve been busier with break and enters this year. A quick dive into Toronto Police Services (TPS) data supports the gut feeling, with Q1 showing a bump in break and enter reports. The rise in crime is […]
Greater Toronto real estate buyers rushed into the market, even amongst pandemic warnings. Altus Group data shows new home sales more than doubled in February. The impact on prices was mixed, as new single-family homes continued to fall. Condo apartment prices rallied to a new all-time high. The gap between the two narrowed to the […]
Canadian real estate markets were busier than usual at the beginning of last month. This helped to push mortgage debt higher, even though the back half of the month was halted due to the pandemic. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in February. The year-over-year growth is now […]
Canada’s central bank is flooding the credit market, and hoping nothing sinks. The Bank of Canada (BoC) made an unscheduled rate decision today, dropping the policy rate to just 0.25%. The decision is the third cut just this month, and marks a return to the lowest policy rate Canada has ever seen. Policy Interest Rate […]
