Canada

RBC: Toronto Real Estate Affordability is Worse, Vancouver Makes Biggest Improvement

Already unaffordable Canadian real estate became a little less affordable during the pandemic. RBC, Canada’s largest banks, updated their housing affordability data for Q1 2020. The bank observed worsening affordability, meaning housing required more income last quarter. This was due almost entirely to Ontario, as other regions saw affordability improve. Canadian Affordability Is Still Getting […]

Canada

This Week’s Top Stories: Canada’s Largest Bank Calls The Top For Real Estate Prices, As Non-Mortgage Credit Defaults Jump

Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Prices Peaked Says Canada’s Largest Bank, Revises Forecast Lower RBC, Canada’s largest bank, thinks Canadian real estate prices may have peaked for the year. Economists from the bank note the relatively flat movement compared to April, and expect […]

Canada

Canada’s Super Rich Actually Own A Bigger Share of Wealth Than Previously Thought

Canada’s wealth inequality issues are bigger than previously estimated – which really is something. The Parliamentary Budget Officer (PBO), a non-partisan office that advises the Canadian government, has created a new model to estimate wealth held by the country’s richest households. The new estimate shows Canada’s one-percent actually holds a much bigger share of total […]