The Canadian economy surprised with huge job gains last week. Statistics Canada (Stat Can) data shows tens-of-thousands of jobs were added in April. Despite a near-record gain, BMO warned investors the market isn’t as healthy as it sounds. Canada’s booming population growth meant the job gains failed to meet minimum requirements. As a result, the […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Bubble Contagion? Eastern Canada Home Prices Retain The Frothiest Growth Canadian real estate prices surged after rate cuts in 2020, and began correcting after rate hikes in 2022. Eastern Canada, where home prices saw the sharpest growth, didn’t follow the same trajectory […]
Canada found the solution to making study permits coveted again—imposing limits. After applications slowed and the housing crisis intensified, Immigration Refugees and Citizenship Canada (IRCC) announced it would tighten its study permit process. Shortly afterwards, application volumes surged, with the current year on track to be the busiest ever. Just the first two months of […]
The flight from Toronto office space was supposed to be temporary, but it doesn’t look that way. Global commercial real estate giant Avison Young data shows Greater Toronto offices hit a new record vacancy rate in Q1 2024. Even more space is available to rent, as more tenants look to shed the pricey rentals through […]
Canadian real estate prices surged after rate cuts, and have generally cooled since rates began to normalize. Canadian Real Estate Association (CREA) data shows the composite benchmark, which represents a typical home, ripped higher after rate cuts in March 2020 and peaked when rates began to normalize in 2022. A big exception is Eastern Canada, […]
Canada’s increasingly hostile business environment is starting to show up in the data. Office of the Superintendent of Bankruptcy (OSB) data shows a sharp increase for business insolvencies in Q1 2024. A weak consumer combined with a soaring cost of doing business has led to a surge in businesses seeking protection from creditors. Experts warn […]
Canada’s second largest bank may have just seen its tiny money laundering problem turn into a big one. TD, also the sixth largest bank in North America, recently disclosed they’ll be setting aside hundreds of millions in funds for any potential fines related to an anti-money laundering (AML) compliance investigation in the U.S.. After a […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Housing Agency Bizarrely Forecasts Record Home Prices & Weak Economy Canada’s economy is heading for a downturn, so prepare for record home prices. That was the message from the CMHC, the country’s national housing agency and state-owned mortgage insurance provider. Their […]
Greater Toronto real estate prices are on the rise but may not be the usual sign of market strength. Toronto Regional Real Estate Board (TRREB) data shows the benchmark, or typical home, price climbed significantly in April. However, it wasn’t due to a tight market. Last month marked one of the weakest Aprils on record […]
Canada’s economy will be in the shitter, but at least the cost of shelter will rise, eh. That’s the takeaway in the latest housing forecast from the CMHC, Canada’s national housing agency. The state-owned mortgage insurance firm is calling record existing home prices alongside a weakening economy. They attribute the increase almost exclusively to a […]
