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 […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadians Pull Back On Real Estate, Set Record Investment In US Stocks Canadians may talk tough on the U.S., but they won’t put their money where their mouth is. In May, Canadians spent $34.2 billion on residential real estate, sliding steadily to […]
Canadian interest in U.S. migration faded after the Great Recession—that’s reversing fast. In 2023, Canadians granted permanent residency hit a multi-year high, according to the U.S. Department of Homeland Security’s (DHS) latest data. It’s easy to dismiss the data as lagging the narrative of rising hostilities, but that’s unwise. Canadians kicked off 2025 by permanently […]
Canada’s building sector just added more fuel to inflation. Statistics Canada (Stat Can) data shows construction costs grew sharply in Q2, with quarterly growth now running at twice the central bank’s target inflation rate. The accelerating price growth is a new inflationary headwind, with the agency attributing it to counter tariffs and a lack of […]
Canada’s sluggish real estate market isn’t getting a break anytime soon. A new BMO report warns there’s no mortgage rate relief on the horizon, with some rates set to rise. Meanwhile, home prices remain sticky and out of reach, pricing out many end users. The bank sees little chance of real estate markets picking up […]
