Canadian real estate is increasingly being scooped up by investors, and incentives play a large role. That was the take in the latest report from the Canadian Housing Statistics Program (CHSP) at Statistics Canada (Stat Can). The agency’s latest numbers show that up to 85% of condo apartments in Ontario’s ten largest census metropolitan areas […]
Canadian households are struggling to carry some of the biggest debt loads in the world. Office of the Superintendent of Bankruptcy (OSB) data shows consumer insolvencies just had the second-biggest August on record. The move wasn’t exactly surprising and builds on a trend that’s seen consumer insolvency filings rise to a level not seen outside […]
Canada’s reputation as an ideal environment may be more hype than reality these days. Statistics Canada (Stat Can) data shows businesses suffered a major setback in June. The country saw the largest wave of business closures since the depths of the 2020 pandemic, when lockdowns physically restricted businesses from activity. In just one month, Canada […]
Toronto real estate has once again assumed its natural position as one of the biggest bubbles in the world, according to a Swiss banking giant. UBS released its 2024 Global Bubble Index, an annual scorecard of the riskiest real estate markets in the world. Toronto climbed into 5th place, but managed to lower its risk […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Flippers Are Still Near Record Levels The death of the Canadian real estate flippers has been greatly exaggerated. Bank of Canada (BoC) data shows 2.5% of homes sold in Q2 2024 were purchased within the past 12 months—only seeing […]
Canada’s economic output is stronger than expected but far from impressive. Statistics Canada (Stat Can) real Gross Domestic Product (GDP) grew in July, following up a flat month. Any positive expectations are cooled by the details, revealing a few only-in-recession data points. That includes government stimulus in the form of public sector expansion being one […]
Canada’s policymakers went from explaining that millions of temporary residents are needed, to cheering on the reversal of their policies over a few short months. Statistics Canada (Stat Can) data shows the flow of non-permanent (temporary) residents slowed in Q2 2024. After doubling in a couple of years, the temporary population remains robust but marks […]
Canadian real estate may have slowed for the average person, but not for flippers. The share of homes purchased and sold in less than 12 months remained largely unchanged in Q2 2024. In fact, the share of sellers that managed to flip their property within a few months is just off record highs. It’s getting […]
Canadian real estate investors may struggle, but their death has been greatly exaggerated. Bank of Canada (BoC) data shows investors represented a record share of home purchases in Q1 2024, according to credit file data. Moral hazard (and a buttload of stimulus) appear to have eased investor concerns and boosted demand from the segment. The […]
Over just a few months, Canada went from fears of overleveraged borrowers to trying to stimulate borrowing. That was the take from BMO Capital Markets, who took a look at the slower-than-normal growth for mortgage debt. In a report sent to investors, the bank’s chief economist explains they expect healthier levels of borrowing by next […]
