Canada’s central bank is getting serious about controlling high inflation… that they had said was out of their control. The Bank of Canada (BoC) spent the past year claiming high inflation is due to external factors. A day after we explained to Parliament’s finance committee how monetary tools were used to create inflation, the BoC […]
Canada’s central bank is forecast to increase their fight against inflation. BMO Capital Markets released its latest forecast showing more aggressive rate hikes. They now see the Bank of Canada (BoC) hiking at double the previous forecast for at least two meetings. The accelerated hikes are just a part of the central bank’s battle to […]
Canada bills itself as an immigration hub, but more immigrants are unhappy after arriving. A new Leger survey conducted on behalf of the Institute for Canadian Citizenship (ICC), shows the cost of living is becoming a big deterrent. That’s the number one challenge new Canadians see weighing on future immigration. It’s become so bad, over […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Prices Better Dwelling’s Opening Statement Before Canadian Parliament’s Standing Committee On Finance The Canadian Parliament’s finance committee invited us to participate in their inflation investigation. We’re not snitches usually, but we took them up on the opportunity to explain the role of […]
Canada’s excessive low rate policy has created a wave of speculative housing demand. That demand can end very quickly, as interest rates climb and real estate price growth slows. In a weekend note to clients, BMO explains it’s a less than ideal time to expect home prices to grow. Rising rates won’t have much of […]
Canadians are packing up and leaving at a fast rate, during a traditionally slow period. Statistics Canada (Stat Can) data shows emigration, the act of leaving permanently, jumped in 2021. The past year showed modest gains, rising to the highest level in half a decade. The fourth quarter is what sticks out though, showing a […]
Opening Statement by Stephen Punwasi Better Dwelling Appearance before the House of Commons Standing Committee on Finance March 24, 2022 Good afternoon Committee, and thank you for the invite. My name’s Stephen Punwasi, and I’m the chief data analyst at Better Dwelling, Canada’s largest independent housing news source. Some of you might be familiar with […]
The supply shortage pushing Canadian real estate buyers to the limit doesn’t exist. It’s an unexpected take from the Union of British Columbia Municipalities (UBCM). The Government report, building on SFU City Program Director Andy Yan’s research, shows BC’s housing supply kept pace with its population. This follows a BMO Capital Markets report showing Ontario’s […]
Canadians expect to buy a lot of real estate over the next year, but not even close to last year’s volume. That’s one of the insights in this year’s RBC Home Ownership Poll released this week. Last year the poll showed a massive surge of buyers planning to enter the market, which proved true. This […]
Canada’s largest bank doesn’t see much happening in real estate over the next year. RBC risk models show the bank expects almost no price growth over the next 12 months, and modest growth at best. At worst, the bank sees a 30% drop in home prices and 18 months of deteriorating conditions. Base and Alternative […]
