Canada’s economy is slowing down but that’s not deterring households from borrowing. Statistics Canada (Stat Can) data shows growth of household debt accelerated in November. The move was led by higher demand for mortgage credit which has accelerated over the past year, but still remains below historic levels. Canadian Household Debt Tops $3.02 Trillion Canadian […]
Canadians may be facing the largest non-pandemic recession ever, in just a few short weeks. That’s the focus of a new report from National Bank of Canada (NBF), which examines the Bank of Canada (BoC) modeling of a similar tail risk back in 2019. The spat would deliver a blow to both countries, but north […]
Canadian real estate sales are picking up but prices haven’t budged, and they aren’t expected to in the near future. BMO Capital Markets believes the Great Canadian real estate stagnation may have just kicked off. Despite a sharp cut to interest rates and normalization of buyer volumes, prices are still moving sideways. Those expecting a […]
Canadian real estate sales are returning to normal, but prices suffered another setback last month. Canadian Real Estate Association (CREA) data shows the price of a composite benchmark, or typical, home, fell in December. Despite demand returning and an ambitious start to 2024, the year closed out with losses doubling the rate seen a month […]
Canadian real estate has seen some positive growth but won’t recover to peak valuations for another half decade. That was the take from BMO Capital Markets, who sees demand getting a boost from a few factors including cheaper, easier credit. However, they don’t see home prices returning to their peak until 2029, as a combination […]
Canadian policymakers worried about temporary residents overstaying their visas can rest easy. Statistics Canada (Stat Can) data shows that non-permanent residents left the country in record volumes in Q3 2024. New limits announced in Q4 has elected officials publicly voicing concerns that these residents may overstay their visas. However, that concern seems overblown considering the […]
Toronto is out and Saskatoon is in—at least for those looking for a robust job market. That’s the take from BMO’s latest labor market rankings of Canada’s 33 largest cities. The country added tens of thousands of jobs, but surging population growth means some cities did worse than others. Places like Toronto saw a sharp […]
Canadian real estate in the 2020s is more for seniors than young adults, though it wasn’t always that way. Bank of Canada (BoC) 2024 mortgage data reveals that seniors are more likely to have a mortgage than those younger than 35 years old. Contrasting it with borrower age at origination reveals that those under 35 […]
Vancouver real estate sales picked up last month, but lofty inventory is easing market pressures. Greater Vancouver Realtors (GVR), formerly REBGV, data shows the price of a composite benchmark (typical) home fell slightly in December. The minor decline emphasized uncertainty about where prices should head, remaining mostly unchanged from last year. Despite sales seeing enormous […]
Greater Toronto real estate failed to maintain momentum last month. Toronto Regional Real Estate Board (TRREB) data shows prices stalled in December. Last month was one the weakest for sales in the past decade, while inventory climbed to one of the highest levels over the same period. Toronto Real Estate Price Uncertainty: Will They Head […]
