Canadian households are cooling on their borrowing but the type of debt may be an important sign. Statistics Canada (Stat Can) data shows household credit climbed at one of the slowest rates in decades in January. The slowdown was primarily caused by slower mortgage debt growth, with credit card debt rising 3x faster. Canadian Household […]
Canadians are generally satisfied with life— as long as they’re older. Statistics Canada (Stat Can) released its Life Satisfaction 2023 survey results. The country fell just short of breaking the OECD’s top ten, with the average person not quite satisfied. The biggest takeaway is the divergence by age—most seniors are satisfied with the country, while […]
Canada’s population is surging but it isn’t producing much demand for goods and services. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) slowed in February. Weaker demand from households is allowing supplies to rise and taming price growth. The rapid deceleration has led to an unusually large gap compared to the US. […]
Canadian real estate sales are getting weaker and inventory is rising, but don’t let that get in the way of a solid narrative. Canadian Real Estate Association (CREA) data shows existing home sales fell in February. The same day also shows new listings climbing, essentially producing fundamentals that indicate a weaker market. That didn’t have […]
If you’ve ever thought that using a payday loan to pay off a credit card was a good idea, you’re about to be all kinds of impressed. The Government of Canada (GoC) has begun buying billions in Canada Mortgage Bonds (CMBs), in a last ditch effort to stimulate more borrowing. The planned purchases are equivalent […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Wealth Driven By Housing, Outpaced Income Up To 13x: RBC Canadian wealth is driven by housing and it’s creating a wealth gap that may be permanent. An analysis from RBC shows nearly half of household wealth has been driven by housing—almost […]
Canadians have seen their wealth surge through a simple act—just paying their mortgages. The problem, according to the country’s largest bank, is that one person’s inflated housing wealth is another person’s hurdle to shelter. RBC warns the issue is now so bad, the vast majority of people will never be able to afford to buy […]
Canada is facing a number of destabilizing forces—like climate change, disinformation, and young adults never owning a home. That’s the take from an internal RCMP report called the Whole-Of-Government Five-Year Trends For Canada. The report is a “scanning exercise” on evolving risks for law enforcement to monitor. It puts the fact that many people under […]
Canadians were warned about building a housing-based economy, now they’re approaching a lost decade. National Bank of Canada Financial (NBF) recently wrote to institutions to warn the country’s productivity is stagnating. As a result, so is the quality of life as real gross domestic product (GDP) remains at the same level it was 7 years […]
Toronto’s population boom has led to rapid growth of its talent pool—but can they find work? Statistics Canada (Stat Can) data shows Toronto’s unemployment rate rose significantly faster than the national rate in February. The city’s unemployed population has grown to hundreds of thousands of people, with annual growth rising 11x the rate of its […]
