Time for your cheat sheet on this week’s top stories. Canadian Real Estate Buying A House In Canada Has Never Been Harder, Years To Correct: RBC Canada’s largest bank warns it’s never been more difficult to buy a home in the country. RBC warns a median household would need to spend up to 108% of […]
The only growth more impressive than Canada’s population is its surging unemployment. Statistics Canada (Stat Can) data shows the economy stumbled in March. It was such a minor decline, it wouldn’t be worth noting if not for the population growth. The country only lost a couple thousand jobs, but managed to add tens of thousands […]
Canada’s national housing agency is forecasting things are going to get worse in the next few years. The CMHC’s latest forecast expects a booming population and lower rates driving housing demand. As a result of the surging activity, existing home prices are expected to rise over the next couple of years. Despite soaring demand and […]
Think lower rates are the path to affordable housing? The US Federal Reserve (the Fed) believes you may have been grossly misinformed on that narrative. New research from the Dallas branch the Fed tackles the impact of interest rates on housing affordability. They warn the common belief that lower rates improve affordability is based on […]
Last month provided more evidence that Canadian real estate markets are credit driven. Toronto Regional Real Estate Board (TRREB) data shows home prices made a massive jump in March. Was it fewer listings and strong sales that drove a typical home’s price almost $20k higher in a single month? Nope, it was just good old […]
Canada’s largest bank is warning that housing has never been less affordable. New data from RBC shows housing affordability is now the worst it has ever been as of Q4 2023. Income failed to keep up with mortgage payments, resulting in affordability erosion in every market they track. Forecast interest rate cuts are expected to […]
Canada continues to hit record smashing growth numbers. Statistics Canada (Stat Can) data shows the 2023 population growth was the largest in more than a half-century. Virtually all population growth is now immigration, with most being “temporary” residents. Upcoming policy changes to limit future immigration is likely to have a very big effect on further […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Bank Regulator To Limit Mortgage Leverage Ahead of Rate Cuts Canada’s federal banking watchdog is taking aim at mortgage risks ahead of rate cuts. OSFI has notified banks they’ll be required to reel in the amount of leverage at the portfolio […]
Canada’s central bank is going to be more comfortable holding off on rate cuts. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) surged in January, defying analyst expectations. Over just two months, 2024’s growth is already equivalent to all growth seen in 2023. However, it’s not clear how the momentum continues since […]
The CEO of the world’s largest asset manager sees a Boomer demographic crisis brewing. Earlier this week, Blackrock CEO Larry Fink warned the US is rapidly approaching a crisis as Baby Boomers retire. BMO isn’t quite sure if it’s “crisis or karma,” but in either case—they see the problem as overstated. The bank argues Canada […]
