Canada is losing jobs, but don’t worry—it needs less of them. That was the general takeaway from Statistics Canada (StatCan) this morning. Despite the agency reporting fewer jobs in January, the headline unemployment rate fell as fewer job seekers were in the market. Before bragging about how great the economy is, it’s worth understanding the […]
Home prices in Vancouver have resisted the sharp downturn seen in Toronto, but that may be changing fast. Greater Vancouver Real Estate Board (GVREB) data shows prices made a sharp drop in January, with losses accelerating in recent months. A combination of weak demand and multi-year highs for inventory—and a new construction glut—signals more downward […]
Mortgage delinquencies are rising across Canada, but nowhere quite like Ontario. Canadian Bankers Association (CBA) data shows mortgage arrears continued to rise in November. Ontario has seen its rate more than quadruple in just over three years, hitting the highest level since 2012. Ontario Mortgage Delinquencies Soar To 13-Year High Ontario mortgage arrears rate: Mortgages […]
Toronto real estate continues to defy all odds, but this time it’s to the downside. Toronto Regional Real Estate Board (TRREB) data shows prices fell further in January, extending a crash that now rivals the largest in the country’s history. Sales are still weak, as the investor-dominated market remains out of reach for end-users. The […]
Canada’s largest real estate market runs on speculation, not housing demand. That’s the core message from the Bank of Canada’s (BoC) latest report, outlining the mechanics of a Ponzi scheme, without dropping the P-bomb. They warn that falling investor returns, driven by higher interest rates, now threaten builder models, suggesting these homes aren’t viable as […]
Canadian employers may be doing better than expected, but they aren’t showing much enthusiasm. Statistics Canada (StatCan) data show national job vacancies slipped in November, but it was far from a national trend. Five provinces showed monthly growth, with Saskatchewan and Alberta actually showing a substantial jump in hiring. The drag was primarily in BC […]
Canadians are behind on their bills, and the country’s banks have front row seats to this event. Canadian Bankers Association (CBA) data shows the arrears rate rose in November. It was only a small bump among its member banks, but enough to hit a 5-year high. Excluding the initial shock in 2020, the rate is […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian GDP Growth 23% Smaller Than BoC Forecast Just 2 Days Ago Canada’s economy is shrinking, according to the latest data from Statistics Canada. Real GDP was flat in November, following a 0.3% drop in October. As a result, the agency expects […]
Canada’s economy stumbled in November, with Statistics Canada (StatCan) data showing flat growth. Not much of a drag, but enough that it shaves nearly a quarter of the growth the Bank of Canada forecast just a few days ago. For national data, that’s not noise—it’s a massive gap, and the most likely explanation raises more […]
Most Canadian real estate markets have resisted the national price decline—but that resilience is cracking. Canadian Real Estate Association (CREA) data shows the price of a typical home fell in December, with only PEI and Quebec posting gains. While most of the downward pressure has been concentrated in Ontario and BC, Nova Scotia abruptly posted […]
