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, […]
Cracks are forming under the surface of Canada’s job market. The country’s job vacancy rate has plunged to an 8-year low, and well below the pre-pandemic rate. The problem looks even more serious when contrasted with the American labor market, warns BMO Capital Markets. Canada’s plunging job vacancy rate isn’t getting much attention with recent […]
Canada’s economy posted a mild contraction, but the bigger issue is what’s driving the remaining growth. Statistics Canada (StatCan) data shows real GDP fell 0.1% in May, up just 1.2% from last year. That’s slow—but the biggest issue is how much of that came from imputed housing activity. Imputed rent from owner-occupied homes—a theoretical estimate—accounted […]
Canada’s central bank reiterated its wait-and-see approach to interest rates. The Bank of Canada (BoC) announced it will hold the overnight rate at 2.75% at its meeting this morning. This marks the third consecutive meeting without a change, driven by BoC officials focusing on short-term uncertainty. The BoC emphasized persistently elevated inflation, with trade uncertainty […]
Greater Toronto real estate demand continues to collapse and new homes are not immune. BILD and Altus Group data reveals new home prices climbed in June, with both single-family homes and condo apartments seeing an increase. The move was somewhat unusual considering it was the weakest sales on record for the month, combined with the […]
Canadians are stuck between a rock and a hard place, most likely CSA G40.21 (steel joke, sorry). To protect domestic producers, policymakers slapped tariffs on steel imports last year—and went nuclear with counter tariffs when the U.S. declared a trade war. The result? Collateral damage for industries like real estate, where higher input costs are […]
