Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Loses 1 In 5 Immigrants, High-Skill Labor Most Likely To Flee Canada is world-renowned for its ability to attract immigrants, but few realize how many it fails to retain. A new study found that 1 in 5 immigrants leave for onward […]
Canadian politicians are in the holiday spirit and feeling generous with taxpayer funds ahead of election season. This week the Government of Canada (GoC) announced a “holiday” from the GST sales tax, as well as stimulus checks in the coming year. This follows the Ontario government’s announcement of stimulus checks arriving around the same time. […]
Canada tried to solve its lack of skilled labor with immigration, but it’s having the opposite effect. A new report from the Institute for Canadian Citizenship (ICC), conducted by the Conference Board of Canada, reveals 1 in 5 immigrants that arrived from 1982 to 2019 have already left the country. Those most likely to leave […]
Canadian households sent another sign they’re getting comfortable borrowing—the return of home equity loans. Statistics Canada (Stat Can) data shows the balance of home equity line of credit (HELOC) accounts, continued to climb in September. The segment went through a lull as higher rates and stricter lending standards motivated deleveraging. However, with the return of […]
Canadian household debt is back, but a little different this time. Statistics Canada (Stat Can) data shows households owed more than $3 trillion in September, a new record high. Both mortgage and consumer credit growth accelerated, the latter at a faster pace. An unusual trend that indicates households are gobbling up credit, but less of […]
Canadian inflation is picking up, surprising the market despite warnings the slowdown was temporary. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) accelerated sharply in October. Experts largely reiterated their expectations of a double-rate cut by next month. However, the data used by the central bank to justify the last double-cut has […]
Canada is bracing for a mass exodus of residents and some aren’t too keen on the plan. A few weeks ago, the Government of Canada (GoC) announced it would taper its population, primarily by reducing temporary resident visas. It’s a big problem for the 1.2 million temporary resident visas that expire next year—leading to a […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Makes A Huge GDP Revision, BoC Made Supersized Rate Cut On Bad Data Canada’s economy is doing much better than previously believed, and that’s a problem. Statistics Canada made astronomical revisions to real GDP, adding the equivalent of an extra year […]
Canadian real estate prices continued its downtrend last month, printing even larger losses. Canadian Real Estate Association (CREA) data shows the price of a benchmark (typical) home fell in October, despite a surge in sales. Prices continued to grind lower and are now similar to where they were 3 years ago. Surging home sales are […]
Highly indebted Canadian households are seeking a lot more creditor relief than usual. Office of the Superintendent of Bankruptcy (OSB) data shows insolvency filings made a big uptick in September. It was actually such a big uptick that it came in as the third-worst September in at least 40 years. It’s a general trend that’s […]
