Canadian small businesses have only seen things get worse after the pandemic. Office of the Superintendent of Bankruptcy (OSB) data shows business insolvencies surged in Q4 2023. The surge in fillings helped to make last year the largest annual growth for insolvency filings. Experts warn as bad as the data is, it’s actually a lot […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Vancouver Laundering Model That Inflated Home Prices Moves To Toronto Greater Toronto is increasingly showing signs a money laundering technique known as the “Vancouver Model” has moved there. A casino was hit with an $80k anti-money laundering fine after a patron flagged […]
Not even record population growth was able to help new condo sales across Greater Toronto. A report from development research firm Urbanation shows new condo sales plummeted in 2023. It was the worst year for sales since the Great Recession, but that’s not all. The rush to build has left developers with the most unsold […]
Canada is experiencing record population growth but unusually slow mortgage growth. Bank of Canada (BoC) data shows that outstanding residential credit growth slowed even further in November. It marked the slowest rate observed by Canadians in over two decades. Canadians Owe $2.26 Trillion In Residential Mortgage Debt Canadian mortgage credit continues to advance despite elevated […]
Canada just bucked expert estimates and it’s growing much faster than expected. Statistics Canada (Stat Can) data shows stronger than expected growth for gross domestic product (GDP) in November and December. BMO believes if, and they stressed if, the data is correct, the economy is growing much faster than anyone had forecast. That is generally […]
Canadian real estate markets are expected to fumble in the first half, but make up for it in the second. RBC Economics shared its latest forecast for Canada’s housing markets this morning. The country’s biggest bank believes interest rates are running the show, and the first six months of 2024 will be slow. As rate […]
It’s a Canadian story as old as time. High risk person meets a grocery bag filled with tens of thousands in cash. Person trades said bag of cash for casino chips and leaves without playing. Casino staff asks no questions, despite previously identifying the person as a high risk patron. Well, maybe not as old […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Do Canada’s Immigrants Stay? Fewer Continue To File Taxes Canada manages to attract a lot of immigrants, but how many are actually staying? Taxfiler data reveals 91% of immigrants that arrived in 2019 filed taxes for that year, but that same group […]
Canada is scrambling to grow its tax base via immigration but it has encountered a tiny problem—a lot of immigrants stopped paying. Statistics Canada (Stat Can) data shows a large share of immigrants that arrived in 2019 stopped filing taxes shortly after. Looking at the historical data, it’s not a new trend—but the drop off […]
Canadian real estate markets have been warming up with dreams of cheaper mortgages. Despite the Bank of Canada (BoC) making no changes yesterday, they may have changed expectations. In a note to investors, BMO explained the central bank’s messaging demonstrates cuts are a long way off, potentially backstopping progress made on fixed rates. The bank […]
