The Canadian real estate correction has produced a glimmer of hope in young adults. In a worst case scenario, Desjardins sees home prices falling as much as 30% in a deep recession. It still won’t be enough to restore affordability—especially in Greater Toronto. The institution warns that housing is costing Ontario its edge, as its […]
Canada has relied on housing to drive its economy, but housing may have reached its limit. Residential investment, housing’s most direct contribution to GDP, fell in Q2 2023. Over just two years, residential investment transitioned from nearly 1 in 11 dollars of GDP to the smallest share in over two decades. Canadian Residential Investment Residential […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Student Visa Strategy Takes Off, Nearly 1 In 48 People On A Study Permit Canada’s strategy to grow its study permit business has taken off, helping its population soar. Study permits climbed 35% in Q2 2023, putting the country on track […]
Canada’s economy may be just a few short months away from recession. The latest gross domestic product (GDP) data from Statistics Canada (Stat Can) stalled in Q2 2023. As much of a red flag as that is, it gets worse when you consider the population boom. Despite there being a lot more people, households are […]
Canadian real estate affordability data paints a dreary future for young adults. BMO’s latest look at affordability reveals it hasn’t been this hard to buy a home since the late-80s bubble. The brief period of rising interest rates didn’t help, but there’s a bigger issue. Interest rates are the highest since 2001, but since then […]
One of Canada’s Big 3 mortgage insurers is no longer publicly sharing its underwater exposure. Canada Guaranty quietly dropped the value of mortgages with negative equity in its latest data, as first reported by the Globe. Is the private insurer, backstopped by taxpayers, hiding a public concern? Let’s take a quick dive into the issue, […]
To the surprise of many, Canadians have balanced high debt loads and credit quality for over a decade. That era might be over. Transunion Canada data reveals an explosion of subprime borrowers in Q2 2023. Higher living costs and rising rates have combined to produce higher risk borrowers. At the same time, lenders are embracing […]
Canada has seen a surge of study permits issued, a key part of its population growth strategy. Immigration, Refugees and Citizenship Canada (IRRC) data shows study permits, a.k.a. student visas, surged higher in Q2 2023. The surge isn’t just about population growth, but is also a part of a plan to help maintain its waning […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian GDP To Show Slowing Growth, Or The BoC May Hike Rates: RBC Canada’s largest bank is warning investors that the country’s economic output is slowing. RBC expects next week’s official Q2 2023 GDP growth data to show a sharp deceleration in […]
Canada’s biggest bank is warning investors of an economic slowdown brewing. Gross domestic product (GDP) data for Q2 won’t be released until next week, but RBC expects it to show the economy was hit with a sharp slowdown. Coupled with a mild acceleration to inflation, everyone has one question—is a slowing economy enough to prevent […]
