Canadians using their home as an ATM was drying up before the pandemic. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of credit secured by homes showing minimal growth in February. The slowdown is almost entirely due to a drop in personal loans in this segment, such as HELOCs. Loans Secured […]
Greater Toronto new home sales were busy last month, but are expected to slow. Altus Group data shows new home sales nearly doubled last year’s volume in March. The rise in sales was met with no new project launches, causing inventory to tighten. Many buyers shrugged off the pandemic, but the firm’s analysts expect the […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Employment In Canada’s Largest Cities Is Worse Than It Looks The unemployment rate in Canada’s biggest cities is rising, but doesn’t capture how bad things are. In Toronto the unemployment rate reached 7.8% in March, up 11.42% from last year. This […]
Canada’s largest real estate markets should prepare for a very different economy over the next few years. Statistics Canada (Stat Can) data shows unemployment in Toronto, Vancouver, and Montreal made big climbs in March. As bad as the loss is, it’s muted by a rapid decline in the participation rate. This means the loss of […]
Canadians got temporary price relief, but it could be a sign of more serious issues brewing. Statistics Canada (Stat Can) reported one of the largest declines in the history of the consumer price index (CPI) for March. The decline puts the index’ growth to one of the lowest levels in years. While low to no […]
Greater Toronto real estate has seen volume drop off quickly since the pandemic. Toronto Regional Real Estate Board (TRREB) data shows the first 17 days of April has a big drop off in volume. Sales are dropping faster than new inventory, relieving pressure on prices to rise. The numbers prepared from the board are still […]
Greater Vancouver is seeing insolvencies climb, not unlike the rest of Canada. Office of the Superintendent of Bankruptcy (OSB) filings show insolvencies increased in February. While the increase was in the double digits, the city managed a slower increase than the province as a whole. Greater Vancouver Insolvencies Rise Over 10% Greater Vancouver insolvencies are […]
Greater Toronto insolvencies are following the rest of the country towards multi-year highs. Office of the Superintendent of Bankruptcy (OSB) filings show the number of insolvencies increased in February. This is a general trend that has been occurring across the country. Greater Toronto insolvencies are growing at a faster rate than Ontario as a whole, […]
Canada’s largest land registry operator saw Canadian real estate prices moving higher. The Teranet–National Bank of Canada House Price Index (HPI) shows prices increased in March. Analysts from the creator of the index warned the pandemic is likely to have an abrupt shift soon. As the lockdown carries on, they expect the index to cool […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Parliament’s Forecast Includes Unemployment Peaking In Q3 Canadian parliament’s economic forecasts include unemployment rising even further. The PBO economic forecast currently sees 14.8% unemployment in Q2, and the ratio peaking at 15% in Q3. At the end of last year […]
