The Canadian property bubble is now receiving some international attention. Bloomberg Economics ranked housing bubbles across the OECD. Second on that list is Canada, which came in just a few points under New Zealand, the king of froth. Global Property Bubbles Are Synchronizing Countries that made headlines for frothy home prices recently, were the largest […]
The US real estate boom is looking a little bubbly in one more way — a surge in new Realtors. The National Association of Realtors (NAR) saw membership soar in May. Membership is now growing at the highest rate since 2006, as more people try to get in on the gold rush. It’s going to […]
A large Canadian financial institution sees housing investment moderating soon. Desjardins has forecast residential investment will begin tapering in the second quarter of this year. They also see negative growth next year, as other segments of the economy start to draw in some dollars. Canadian Residential Investment Grew 43% Residential investment has seen obscene growth […]
The US new home market is cooling to pre-pandemic levels of activity, except price growth. US Census data shows new home sales for May came in at the lowest level this past year. Falling sales have helped to lighten the pressure on inventory. The only thing that looks nothing like last year is price growth. […]
More Canadian mortgage borrowers are betting the economy won’t get much better. At least, they’re unintentionally placing that bet with their mortgage borrowing terms. Data from the Bank of Canada (BoC) shows big growth for uninsured mortgage credit extended in April. It actually saw the largest annual growth on record, driven by a surge in […]
Canadian Job Vacancies Hits A New Record, As 600,000 Positions Sit Empty Canada has hundreds of thousands of unfilled jobs, despite elevated unemployment levels. BMO weighed in on the vacancy numbers, which jumped to an all-time high in Q1 2021. Robert Kavcic, the bank’s senior economist, estimates vacancies are now the size of 2.5% of […]
It’s not just Canadian home prices showing bubbly signs, but rental prices are following too. The cost of renting an apartment in the suburbs is rising much faster than in the city. Economists call this the flattening of the bid-rent curve, or rental gradient. Basically, the discount for being located further from amenities is disappearing. […]
US home buyers are taking a breather, as prices reach dizzying heights. Dizzying for the US, that is. National Association of Realtors (NAR) data shows existing-home sales fell in May. Higher prices have trimmed demand for several months now. The market is now beginning to head towards its pre-pandemic levels of activity. US Home Sales […]
The Canadian renovation boom is slowing, or at least the debt to finance it has. Bank of Canada (BoC) data shows loans for home renovations made a sharp drop in the first quarter of 2021. The balance of these loans had seen a surge during the pandemic, but rolled back in the last quarter. It […]
The economic cliff many are worried about when pandemic support is withdrawn may not be so bad. That’s the take from National Bank of Canada (NBC) economists Matthieu Arseneau and Alexandra Ducharme. The “big six” economists crunched the numbers on disposable income, minus pandemic support. Disposable income has already resumed the pre-pandemic growth trendline. Throw […]
