Despite elevated inflation, Canada’s economy is sputtering. Statistics Canada (Stat Can) data shows gross domestic product (GDP) was unchanged in October 2023. Output has now failed to advance for nearly half a year, despite the record population boom that was expected to drive demand. RBC warns the country is most likely to print a sixth […]
Canadian households are bracing for a mortgage rate renewal crisis, but how bad will it be? The Bank of Canada (BoC) estimates the majority of households will see payments rise over the next few years. Is it really a crisis though? If following the guideline for affordability used by policymakers, an increase is likely well […]
Canada printed yet another massive, immigration-driven quarter of population growth. What housing crisis, the country just needs to build homes faster, right? BMO Capital Markets crunched the numbers to show just how comically distorted and unviable growth has become. It’s starting to become clear the plan isn’t to diversify the country, but stimulate home prices […]
Canada may have record population growth but what happens if immigrants see the mass exodus of citizens? Statistics Canada (Stat Can) data shows Q3 2023 emigration, or reverse immigration, surged to an unusually high level. Canadians fled the country for a new home in such a large number, a 3 month outflow has only been […]
Time for the holidays, which means it’s time for window dressing season—even when it comes to inflation. The Statistics Canada (Stat Can) Consumer Price Index (CPI) stalled within spitting distance of the central bank’s target range in November. Downward pressure was created by falling energy costs, helping create a temporary halt of a carbon levy. […]
Canada’s once tight labor market, a key driver of wages and shelter costs, is loosening. Statistics Canada (Stat Can) data reveals job vacancies declined further in Q3 2023. The drop is a double-edged sword: roles being filled is good news, but job creation is failing to keep up with population growth. Canada is adding roughly […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian “Systemic Risk” Due To CLP Mortgages Is Bigger Than You Think OSFI, the country’s bank regulator, has mentioned combined loan plans (CLPs) are a systemic risk. Mainstream discussion of the issue was largely void though, as it was unclear how big […]
Another day, another newly built home is torched. Toronto Fire Services responded to a residential fire on Thursday morning around York Mills. The newly built, sprawling mansion, listed for sale at $14 million, was mostly lost by the time they could put the fire out. Toronto Police are now looking for four suspects caught on […]
Canadian real estate just put an end to any doubt the bubble still has a little life in it. Canadian Real Estate Association (CREA) data shows home prices fell further in November. Soft sales and rising inventory continue to apply downward pressure on values. Owners rushing to sell at an unusual time helped drive the […]
Canadian real estate is rarely this out of reach, and it’s always followed by recession. That was the take from BMO, noting further erosion in the Bank of Canada (BoC) Housing Affordability Index (HAI) in Q3 2023. Higher rates are finally slowing down the pace at which it worsens, but it hasn’t been this bad […]
