Over the past few years Canadians have repeatedly heard of a labor shortage. Policymakers have suddenly gone silent on the issue, and surprise—there’s now a massive surplus of labor. BMO warns the increased competition will produce higher employment and lower wages. Not great news for labor, but good news for the central bank looking for […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s CMHC Internal Messages Show Housing Supply Narrative Is BS Canadian real estate prices are expensive because of a lack of supply, and building more should fix it—right? That’s been the narrative for years, but it’s not what the CMHC has been […]
Everyone in Canada will soon be able to afford a home. We just need investors to build more and rates to be cut, right? Anyone that can do basic math has probably been skeptical of that narrative and with good reason—even the people making those statements don’t believe it. Internal messages from the CMHC make […]
Canadian condo prices have been resisting a correction, but might be ready to give in soon. CREA data shows Canadian condo prices fell for a second consecutive month in June, wiping out most of the progress made this year. Condo prices have been relatively resilient despite rising interest rates, but historically weak demand and rising […]
The Canadian economy isn’t technically in a recession; it just feels like one to most households. That was the take from Canada’s largest bank, which is raising concerns about the country’s economic setup. RBC economists warn that rapid population growth is boosting GDP, but it’s only obfuscating reality. More meaningful economic indicators, such as household […]
Canadian inflation got a bump in last month’s report; new data shows it was just noise. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) growth rate slipped in June. The headline inflation measure came in below analyst expectations, clearing the way for the Bank of Canada (BoC) to cut rates further this […]
Canada chased rapid population growth to fill its soaring job vacancies. Now it’s running out of jobs, and still has near-record population growth. National Bank of Canada (NBF) believes this is a concerning setup for new immigrants who are arriving to the tightest job market in 7 years. Not only is this driving unemployment for […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Weakens As People Flee Toronto & Vancouver: BMO Canadian real estate markets remain weak after rate cuts but are driven by weakness in just a few regions. That was the take in the latest research note from BMO, which […]
Canadian real estate didn’t get a boost from a recent rate cut. That’s good news, according to BMO’s latest research note. The bank broke down CREA’s June update on existing home sales, and believes this is what the Bank of Canada (BoC) would like to see. Cheaper credit didn’t suddenly spark exuberant demand, potentially clearing […]
Canadian policymakers created a bigger issue than the one they tried to solve with population growth. A new survey from Angus Reid found that 1 in 4 households are seriously considering leaving their province due to housing costs. Two key demographics are feeling the lion’s share of the pressure—young adults and recent immigrants. The problem […]
