Canadian households and businesses are falling underwater, despite a booming real estate market. Office of the Superintendent of Bankruptcy Canada (OSB) data shows a big climb for insolvency filings in January 2020. The big jump in filings helped to push the month’s numbers to the highest level since 2010. Canadian Insolvencies Rise To Highest Level […]
Cracks in the Canadian economy are appearing, and it started last year. Statistics Canada (Stat Can) data shows gross domestic product (GDP) per capita fell in Q4 2019. The decline is the second consecutive quarterly drop, and is now back to where it was two years ago. GDP Per Capita Gross domestic product (GDP) and […]
Greater Toronto real estate is off to the strongest year since the 2017 boom. Toronto Regional Real Estate Board (TRREB) data shows much higher prices in February. The increase in prices were largely the result of many more sales, and fast falling inventory. Greater Toronto Real Estate Prices Rise Over 10% The benchmark price of […]
Canadians are becoming a little more cautious about using their homes like ATMs. Office of the Superintendent of Financial Institutions (OSFI) filings show loans secured by residential real estate slowed dramatically in December. This segment of debt has been slowing in growth over the past year. Recently, the balance has begun negative real growth. Canadians […]
Canadian mortgage debt had a strong start to the year. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in January. Mortgage credit is now growing at nearly the rate it was before stress testing was introduced. Canadians Now Have Over $1.63 Trillion In Mortgage Debt Canadian mortgage debt ripped to […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Grows Almost 5x GDP, Economy Hits Record High Dependency Canada’s FIRE industry is growing much faster than the general economy. GDP reached $1.98 trillion in Q4 at annual rates, up 1.6% from the previous quarter. Finance, insurance, and […]
Canada’s gross domestic product (GDP) is increasingly being driven by real estate. Statistics Canada (Stat Can) data shows the FIRE sector was a huge contributor to GDP growth in Q4 2019. In fact, the industry now represents a new record for its size of GDP, beating out the 2016 record. Finance, Real Estate and Insurance […]
Canadian home buyers weren’t shy about borrowing towards the end of last year. Bank of Canada (BoC) data shows a big increase in mortgage credit issued in November. The traditionally slow month, was actually one of the biggest in years. Canadians Borrowed Over $37 Billion In New Mortgage Debt In The Month New mortgage lending […]
Greater Toronto new home sales are back above typical volumes for the month. BILD and Altus Group data shows a big climb in sales this past January. The increase in sales helped to push condo apartment prices to a new all-time high. Meanwhile, single-family homes continue to spiral lower. House Prices Fall, While Condos Make […]
Canadian investment in construction of residential real estate has returned. Statistics Canada (Stat Can) data shows investment in residential building increased in December. The level of growth isn’t as high as it was just a few years ago. However, growth has been accelerating since the end of the election. Canadian Residential Investment Rises To $97 […]
