Time For your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Bubble Sentiment Is Collapsing Fast: US Federal Reserve Data Canadian real estate bubble sentiment is collapsing but remains frothy. A US Federal Reserve model shows Q3 2021 was the 26th quarter the market showed exuberance. That means the […]
Canadian real estate prices aren’t slowing down from the threat of higher rates. In fact, Canadian Real Estate Association (CREA) data shows the opposite for January. Over just one month, real estate markets have seen a “typical” home rise up to six figures from a month before. A Typical Home Across Canada Now Costs $825,000 […]
American real estate just spent another quarter in bubble territory, according to its central bank. The US Federal Reserve Exuberance Index shows US real estate was still exuberant in Q3 2021. A quarter before, the market fit the criteria set out by researchers to be considered a bubble. It also happened to be the quarter […]
Ontario rental evictions cratered during the initial public health restrictions. Government of Ontario data shows that rental evictions dropped sharply for the 2020-2021 period. The impact was likely short-lived, with the current period already rising more briskly. As public health restrictions are lifted, expect applications for evictions to normalize. That can mean double the filings […]
Canadian unemployment fell and job vacancies are rising, creating a tighter labor market. Statistics Canada (Stat Can) payroll data shows job vacancies were climbing in December. At the same time, the unemployment rate has dropped to pre-pandemic levels. A tight labor market is usually good for wages, but that isn’t the case this time. The […]
Global markets are puking as the Ukraine-Russia conflict presents global uncertainty and risk. BMO chief economist Douglas Porter wrote a special brief to clients today, explaining this doesn’t change much at this point. BMO still expects the Bank of Canada (BoC) and the US Federal Reserve to hike interest rates in March. The influence on […]
Canada’s booming real estate market is making it rain for the industry. Statistics Canada (Stat Can) data shows agents and brokers collected record revenue in 2020. Despite a slow second quarter, elevated demand in the second half more than made up for the hiccup. Strong demand (and price growth) helped to drive the largest profit […]
US mortgage activity is suddenly slowing down as interest rates climb. The Mortgage Bankers Association (MBA) Mortgage Composite Index showed a sudden drop for the week of February 18, 2022. Seasonally adjusted mortgage application activity dropped 13.1% from the week before. On an unadjusted basis, activity dropped 11% compared to the same week a year […]
Canada prides itself on racial diversity, but that isn’t clear from the way visible minorities are paid. A new study from Statistics Canada (Stat Can) shows income earned by race and employer size. They found the average pay for visible minorities can be as much as 30% lower in similar sized workplaces. Men Earn A […]
Canadian real estate is still in bubble territory but excitement is fading fast. The US Federal Reserve (US Fed) Exuberance Index for Q3 2021 shows Canada is still in bubble territory. At this point, the gap between fundamentals and price have expanded for over a half decade. As higher rates approach, the index is showing […]
