Canadian real estate markets hit pause, with the theory being rate cuts would revive the market. That theory is playing out for sellers, but one of Canada’s banks doesn’t see it driving many new buyers. A new analysis from BMO argues the Bank of Canada (BoC) rate cut may boost sentiment, but won’t provide much […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Still Climbing As Population Outpaces Jobs 3x Canada’s economy continues to add jobs, but not nearly enough for its population growth. The latest data shows employment grew 0.1% (+27k jobs) to 20.5 million jobs in May. At the same time, […]
Canada’s labor market continues to add jobs, but not nearly enough to keep it from falling behind. Statistics Canada (Stat Can) released the latest Labor Force Survey (LFS) showing employment grew in May. The same data shows the growth was just a third of what was needed to accomodate its rapid population growth. As a […]
Greater Vancouver real estate’s predicted Spring boom currently looks like a bust. Greater Vancouver Realtors, the new name for REBGV, reported home prices moved minimally in May. What really stood out was a collapse in sales and a surge in inventory, an unusual sight at this time of year. How unusual? Outside of 2020, one […]
Canada’s central bank kicked off its easing cycle, but it’s far from providing ease. The Bank of Canada (BoC) announced it would be cutting the overnight rate earlier today. It attributes the need to cut to the economy growing slower than they had forecast. They further warn the economy is in a phase of excess […]
Spring was supposed to be when Toronto real estate made its comeback, but boy was that call off. TRREB data shows home prices slipped further in May, marking the third consecutive year that lower seasonal peaks were observed. However, price drops were the least notable data point last month, with the most inventory for the […]
Canada’s record population growth combined with slowing new home construction might seem paradoxical at first. The Government of Canada (GoC) claims it’s because housing is “illegal” but a confidential memo sent to lenders indicates it’s an issue of leverage. The CMHC quietly notified lenders they’ll be extending the maximum amortization, or length of repayment. The […]
The Canadian economy is getting ready to part ways with its closest ally, at least when it comes to performance. A new analysis from RBC looks at the emerging gap between the historically intertwined economies, and notes Canada is significantly underperforming its neighbours to the South. The weakness of Canada’s highly indebted households in contrast […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Home Prices “Need” To Be High To Pay For Retirements: PM Canadian Prime Minister Justin Trudeau just said the quiet part out loud. In a recent interview, the country’s head of government stated that he wants affordability to improve, but prices […]
Canada’s economy went from boom to bust faster than anyone could anticipate. Statistics Canada (Stat Can) data shows slower-than-expected real gross domestic product (GDP) in Q1 2024, along with a downward revision for the previous report. Combined with the rapid population growth, this has led to a rapid decline in per-capita real GDP. In fact, […]
