Young Canadians may need to come to terms with the fact policymakers are driving ownership further out of reach every year. Numbers crunched by the Canadian Housing Statistics Program (CHSP) at Statistics Canada (Stat Can) reveals how ownership has changed over the past 50 years. For young adults, homeownership peaked nearly 40 years ago, and […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Housing Resembles A Return To Victorian-Era Inheritance Culture: Stat Can Canada is quickly reverting back to a Victorian-era style inheritance culture. That was the suggestion from the country’s national statistics agency, when exploring the role of parental wealth on the homeownership […]
Canadian real estate prices are still seeing record growth, just not when it comes to sales. A new research note from BMO shows annual growth of rental prices grew at a record pace in October. They note the issue is complicated even further by rents outpacing income growth for the first time in 60 years. […]
Canadian policymakers have been spending like drunken sailors, and it’s going to cost households. Not just in the form of taxes and service reductions, but on their mortgage too. A new analysis from Scotiabank looked at just how much government spending drove inflation, and thus interest rates. They estimate the Bank of Canada (BoC) overnight […]
Canada’s government is bracing for winter, and not the kind that brings fluffy white stuff. This week the Government of Canada (GoC) released its 2023 Fall Economic Statement. Buried amongst notes on higher deficit spending is a forecast for a sharp decline for labor. Unemployment is forecast to rise by hundreds of thousands of people […]
Canadian real estate markets are softening as higher rates begin to weigh on virtually all markets. RBC warns October data reveals falling existing home sales and rising inventory. The combination has resulted in the price decline for a typical home doubling pace last month. Despite some mortgage rate relief appearing, the bank expects the market […]
Want to own a home in Canada? Have you tried wealthier parents? Statistics Canada (Stat Can) released a new study exploring the role of parental wealth in obtaining homeownership. They examined tax data to determine the homeownership rate for “adult children” born in the 1990s, in relation to their parent’s wealth. The odds of ownership […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices Slip Further As Sellers Suddenly Surge Canadian real estate markets continue to soften, with few signs of a break. The benchmark (typical) home price slipped lower in October, and is 14.6% below the March 2022 record high. Slow […]
Canadian real estate markets have come to a halt, and so has mortgage borrowing. Bank of Canada (BoC) data reveals residential mortgage credit growth slowed further in September. Higher rates have almost killed activity, with debt accumulating at the slowest rate in 20 years. Is it too slow or the expected response following unprecedented real […]
Canada keeps repeating it’s spending billions on new housing, but with who, and how does it help? Earlier this week, Deputy Prime Minister Chrystia Freeland announced $1.2 billion worth of investments to build rentals in Toronto. It turns out over a third of those funds are going into one project—373 Front St East, which are […]
