Canada’s largest bank is the latest to forecast falling real estate prices next year. Despite sales improving, RBC is forecasting further price declines next year—with the impact amplified in Toronto and Vancouver. The bank warned rising sales won’t be enough to counter rising supply, a lack of affordability and immigration transforming from a tailwind to […]
This land is your land, this land is…wait, did anyone actually check the title? Canadian real estate got more bad news this month—the BC Supreme Court has ruled Cowichan Tribes still hold title to 1,846 acres of prime Richmond land in Greater Vancouver. The longest trial in Canadian history only targeted government-held lands, but may […]
Canada’s tightly controlled real estate system just saw its first crack appear. RE/MAX Ontario-Atlantic Canada (RE/MAX) has broken ranks, becoming the first brokerage to settle a class action targeting the industry’s commission rules and board structure. The $7.8-million deal, revealed this morning, comes with a seismic shift—the regional brokerage is ending its mandatory board membership […]
Canadian real estate sales are expected to remain weak until prices fall further. That was the take from BMO Capital Markets, whose latest report cites the gap between buyer and seller expectations holding sales back. Until that gap is closed, either by force or voluntarily, sales will remain weak relative to historical levels. The bank […]
Time for your cheat sheet on this week’s top stories. Canada’s GDP Lags OECD As Immigration-Led Growth Strategy Backfires Canada’s plan to grow its economy with population stimulus has been counterproductive. Population growth increases aggregate demand, except when the pace is too fast. This produces inflation for necessities, diverting disposable income from other areas of […]
Canada’s blowout job report in June looks like a headfake after last month’s erosion. Statistics Canada (Stat Can) data shows a sharp decline in jobs for July, partially rolling back most gains made the month before. The details were even worse—the labour force contracted, while long-term and youth unemployment reached levels not seen in decades. […]
Canadian consumers have become world-renowned for their ability to juggle astronomical amounts of debt. Those days are coming to an end, as insolvencies ripped higher in June, according to the Office of the Superintendent of Bankruptcy (OSB). It was the highest volume for the month since 2010, but the quantity isn’t the only issue—the type […]
Greater Toronto real estate took one step forward and two steps back last month. TRREB data shows home sales climbed in July, hitting a 4-year high for the month. Firming home sales are an improvement, but it was far from a market recovery. Any progress was overshadowed by a sharp price drop and a new […]
Canada’s big bet on lofty immigration targets was meant to boost GDP. But it flopped—OECD data shows Canada’s growth lagged the 38-country average. The strategy didn’t just fail to deliver; it left Canada trailing its advanced economy peers. Canada Led The OECD for Population Growth, Used Immigration As Stimulus Canada made a big bet on […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian GDP Growth: Fictional Rent Fuels Over $1 In $10, More Than Oil Canada’s economy is still growing—but the quality of that growth is questionable. Over 1 in 10 dollars of real GDP growth in the past year came from imputed rents, […]
