Canada’s central bank is seeing core inflation slow, but borrowing costs aren’t. BMO warns that long-term Government of Canada (GoC) bond yields have just hit their highest level since 2010. BMO points to oil prices as the bond market’s immediate concern. That may be the spark, but Canada’s persistent demand for debt is the bigger […]
Canadian households continue to rack up an epic amount of debt. Statistics Canada (StatCan) data shows household debt continued to climb in March. The record debt rivals the country’s whole output, placing a drag on growth. However, that wasn’t the biggest concern in the latest update—the concentration is. Despite a slow real estate market, households […]
Canadians know inflation climbed sharply last month, but there’s a stranger story in the headline data. Statistics Canada’s (StatCan) Consumer Price Index (CPI) rose in April, driven by energy prices. However, a modeling skew in categories like air travel helped suppress the acceleration, despite conflicting industry data. Canadian CPI Surges To Highest Level In 23 […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Developers Set A Record For Completed & Unsold New Homes Canadian real estate developers are sitting on a glut of completed and unsold homes. Builder inventory surged to 19,536 unabsorbed new homes in April, up 36% from last year and triple […]
Canadian real estate went from a speculative asset with global demand to a glut in just a few years. Canada Mortgage and Housing Corporation (CMHC) data shows completed and unabsorbed inventory rose in April. Builders are now sitting on the most completed and unsold new homes in the country’s history—and there’s a lot more supply […]
Canada was told that more supply would fix its housing crisis. Now that it’s here, it clearly wasn’t buyers clamouring for that supply—not at these prices, anyway. Canadian Real Estate Association (CREA) data shows prices climbed slightly in April. However, the mild increase wasn’t due to rising sales or tightening inventory. Instead, the move looks […]
Canadian consumers are getting crushed by their epic debt, and Ontario is ground zero. Office of the Superintendent of Bankruptcy (OSB) data shows consumer insolvencies in the province surged in March. Having outpaced national insolvency growth since 2019, it’s been capturing a larger share of total filings—and just saw the most monthly filings since 2010. […]
Canadians are suddenly facing one of the toughest job markets in months. Statistics Canada (StatCan) data shows the unemployment rate climbed to a 7-month high in April, but the real story is how the map is flipping. Traditional job engines like Ontario now rank among the worst in the country, while provinces long written off […]
Canada’s highly indebted households are starting to crack under the pressure. Office of the Superintendent of Bankruptcy (OSB) data shows insolvencies climbed in March. Now at a 17-year high for the month, the volume was only second to the 2009 financial crisis. What Are Consumer Insolvencies? Consumer insolvencies are formal filings with the OSB, made […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Hits 7-Month High As Workers Outpace Jobs Canada’s job market lost 18,000 jobs in April, and looking past the headline data reveals a worse picture. The country shed 47,000 full-time roles last month, shedding 111,000 in the first 4 months […]
