Canadian households, the most indebted in the G7, are finally showing borrower fatigue. Statistics Canada (Stat Can) data reveals household debt reached a new record in May 2023. Now larger than the country’s output, the mountain of debt is changing its growth pattern. Households borrowed mortgage debt at the slowest rate since the Great Recession, […]
Canada’s real estate developers are pushing forward despite less-than-ideal conditions. CMHC data reveals June housing starts made the biggest jump in a decade. Even with the jump, the general trend has been fewer housing starts, despite the booming population growth. At least one of Canada’s largest banks has stated the country’s goal to double output […]
Canada’s latest inflation numbers are coming in even lower than expected. Statistics Canada (Stat Can) data released this morning shows that annual growth for the Consumer Price Index (CPI) slowed in June. Higher rates are starting to throttle demand, but not nearly enough to slow the Bank of Canada (BoC) preferred measure of inflation. Canadian […]
Canada’s real estate industry is lowering expectations for the market going forward. The Canadian Real Estate Association (CREA) revised its home sales forecast lower for the remainder of the year. They also see 2024 being slower than previously anticipated, as demand slows without central bank stimulus. Canada’s Real Estate Industry Revises 2023 Sales Lower Expectations […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Rising Unemployment Is A “Foolproof” Recession Signal: BMO Canada’s latest employment data shows a “foolproof” recession signal, according to BMO. The rising unemployment rate was written off as an anomaly, due to the population boom. Economists at the bank suggest that’s […]
Canadian real estate’s brief bounce is beginning to fade. Canadian Real Estate Association (CREA) data shows existing home sales climbed in June, with prices also climbing. However, price growth is notably decelerating at a rapid rate, with new inventory now outpacing sales. Canadian Real Estate Prices Are Showing Signs Of Fatigue Canadian real estate prices […]
Canada’s central bank was surprised by how strong the excess demand has been. Consequently, the Bank of Canada (BoC) sees elevated inflation sticking around for a little longer. In its latest Monetary Policy Report (MPR), the central bank warns that excess demand has been resilient, helping to create more uncertainty. Now they don’t see the […]
Canada’s economy has been lucky enough to buck recession forecasts, but its luck may be running out. The country’s latest job report showed huge job gains in June. However, it’s the rising unemployment rate that caught the attention of BMO’s chief economist. In a note to investors, they warned the rising rate has a near-foolproof […]
Canadian real estate markets top global bubble lists, but speculators still pile in. Global observers struggle to understand why, but they only need to look at the latest guideline from the Financial Consumer Agency of Canada (FCAC). The government watchdog for consumers recently released the Guideline on Existing Consumer Mortgage Loans in Exceptional Circumstances (Guideline), […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Rate Rises As Population Outpaces Jobs Canada’s economy is adding a massive amount of jobs, but not nearly enough. The country reported a gain of 60,000 jobs in June, but the unemployment rate rose to 5.4% as well. It turns […]
