Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada Is Running Out Of Land. It Does That Every Few Years Canada is running out of land, and it turns out it does this every ten to twenty years — at least in the mind of residents. We dive through […]
Canada is really depending on real estate to spackle shut the holes in the economy. Statistics Canada (Stat Can) data shows real estate commissions and fees hit a new high in March. The segment of gross domestic product (GDP) is growing so fast, it’s now a whole point of the country’s output. It also represents […]
The price of a commercial lease in Canada is getting more expensive, unless it’s retail. Statistics Canada (Stat Can) data shows commercial rents increased in March. Gains were led by offices, and an industrial space boom. Retail was the only big loser, with prices taking a dive across the country. Canadian Commercial Rents Increase, But […]
Inflation is transitory… or it may not be. It depends on whether the data is considered reliable enough that day. Bank of Canada (BoC) released a home price exuberance model, showing the market bubbles. Even more interesting is a footnote for the model they used. They feel inflation data on rent is unreliable, because it […]
Canadian homebuyers are paying large premiums to live in some cities. National Bank of Canada (NBC) data shows most cities are cheaper than the national home price in Q1 2021. Two big exceptions are Toronto and Vancouver, which fetch massive premiums. Let’s take a look at how much more people need to pay in contrast […]
The Canadian property bubble is at the part where some people now only see the expensive real estate that can be used for housing. One of Canada’s national newspapers recently ran a staff-written piece on why public parks are a waste of space. Instead, they suggest parks should be used for more housing or run […]
Greater Toronto real estate is showing signs of cooling, but buyers haven’t noticed. Toronto Regional Real Estate Board (TRREB) data shows home prices reached a new record high in May. It was accompanied by accelerating price growth, despite a decline in home sales. Home sales falling faster than new listings is typically followed by a […]
Greater Vancouver real estate is starting to see some signs of price growth cooling. Real Estate Board of Greater Vancouver (REBGV) data shows home prices hit a new high in May. It did so with the annual monthly growth accelerating even faster. However, the monthly price increase was much smaller than the one made in […]
Canada’s housing boom isn’t just home sales — it’s consuming the whole economy. BMO senior economist Robert Kavcic crunched home renovation numbers for Q1 2021. The bank found household spending on renovations hit a new high last quarter. Spending in this segment is growing so fast, it now represents a record share of the economy. […]
Low interest rates help to bring working and middle-class prosperity. Inequality will drop if only people could borrow more years of their income today. At least that’s the narrative society was sold on for the past 100 years. It turns out there’s no evidence to show that’s true. In fact, the evidence indicates it was […]
