Dark clouds are forming over Canada’s economy, but most households are blissfully unaware… for now. A new research note from BMO Capital Markets warns that young adults are facing the “gruesome twosome”—soaring unemployment and unaffordable housing. The combination has created an environment on par with the country’s worst recessions. It’s an issue largely slipping under […]
The struggle is real, according to nearly a third of Canadian households. This morning Statistics Canada (Stat Can) released the 2022 Canadian Housing Survey, a bi-annual window into the cost of living across the country. The latest findings reveal that both renters and homeowners are increasingly struggling. Renters were most likely to report financial difficulty, […]
Greater Vancouver real estate’s luck might be running out. Greater Vancouver Realtors (GVR) data shows the price of a composite home slipped in August. The market has managed to avoid the significant correction seen in other major markets, but things are suddenly heading in the wrong direction. Fewer sales and rising inventory is helping to […]
Canada’s work-from-home boom was a little too popular and has resulted in flight from big cities to more affordable suburbs. Now the governments and their agencies across Canada are facing pressure to bring workers back to the office. Canada Post’s non-operational staff in major cities are the latest being ordered back to the office for […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Orders Federal Workers Back To Office To Bolster Real Estate The Government of Canada (GoC) is rolling out a “prescribed presence” rule for its employees. During the pandemic, a hybrid model was adopted for some employees, allowing them to work at […]
Canada will have a hard time putting a positive spin on the latest employment data. Statistics Canada (Stat Can) data shows the country added jobs in August but added 4x the volume of workers too. As a result, the unemployment rate pushed higher—especially in the country’s largest cities, which are now showing unemployment rates consistent […]
Greater Toronto real estate was supposed to firm up this year, but the market continues to erode. Toronto Regional Real Estate Board (TRREB) data shows sales slipped to print one of the worst Augusts on record. Prices also made a sharp drop as inventory climbed to rarely seen levels, as the region faces one of […]
The Canadian population is surging but concerns of excess supply are still mounting. As widely anticipated, the Bank of Canada (BoC) announced a rate cut this morning at its September meeting. The central bank is seeing progress on inflation but it may be too much—they’re now worried about deflation. At least one of Canada’s largest […]
Canada’s remote workforce has been breathing new life into small cities, but that may come crashing down soon. The Government of Canada (GoC) has ordered its remote workforce back to the office starting next week. The reasons cited haven’t been particularly strong, but the impact on big cities has been. Downtowns have been hollowed out […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Government Spending Now 80% of GDP Growth Canada’s economy grew faster than expected but still showed recession-like behavior. Annualized real GDP growth came in at 2.1% for Q2 2024, much higher than market expectations. However, the details were less flattering with […]
