Canada’s national statistics agency is estimating monster growth for population. Statistics Canada (Stat Can) population estimates show fast growth in Q1 2020. The population is now estimated to be growing at the fastest pace in 3 years. Canada’s Population Estimate Grows At Fastest Rate Since 1990 Canada’s population is growing at the fastest pace in […]
Canadian real estate sales were BOOMING before the pandemic poured a bucket of ice water on it. Canadian Real Estate Association (CREA) data shows sales climbed the most in years. Part of the big numbers are due to the unusually slow start to last year, beefing up growth numbers. The growth was still expected to […]
Canadian restaurants were already getting crushed by soaring real estate prices, and now they’re facing pandemic fallout. Data from Open Table shows the big drop off in traffic for restaurants in Canada’s largest cities. Cities like Toronto were already facing weak traffic growth. However, this was capitulated after COVID-19 cases began to rise. Montreal had […]
Canadian bank regulators are jumping into action to contain economic risk. The Office of the Superintendent of Financial Institutions (OSFI) made emergency changes last week in response to COVID-19. These changes include dropping the update to the mortgage stress test, lowering domestic stability buffers, and asking banks to halt share buybacks and dividend hikes. Mortgage […]
All hail the return of cheap money for Canada, it’s been weeks. Bank of Canada (BoC) data shows the effective interest rate paid by households dropped to a multi-year low as of March 6, 2020. The rate is now the lowest seen in over two years, having taken one of the biggest declines in at […]
Canadians slowed their renovation spending, but that’s expected to change. Altus Group is forecasting an upcoming rise in renovation spending, after a decline in 2018. The firm expects 2019 numbers to come in higher when reported later this year. They also expect 2020 numbers to top last year’s final numbers, fueled by HELOCs and mortgage […]
Canadian household credit is on a tear, accelerating growth and setting a new record high. Bank of Canada (BoC) data shows the balance of household debt made a big advance in January. The increase was driven entirely by mortgage debt however, as the balance of consumer debt fell to a 6 month low. Canadian Households […]
Canadian seniors pushed another segment of debt to a new milestone. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt hit a new all-time high in December. The high is the first time reverse mortgages reached a balance of over $4 billion. Reverse Mortgages For those that don’t know, a reverse […]
Canadian households and businesses are falling underwater, despite a booming real estate market. Office of the Superintendent of Bankruptcy Canada (OSB) data shows a big climb for insolvency filings in January 2020. The big jump in filings helped to push the month’s numbers to the highest level since 2010. Canadian Insolvencies Rise To Highest Level […]
Cracks in the Canadian economy are appearing, and it started last year. Statistics Canada (Stat Can) data shows gross domestic product (GDP) per capita fell in Q4 2019. The decline is the second consecutive quarterly drop, and is now back to where it was two years ago. GDP Per Capita Gross domestic product (GDP) and […]
