Canadian policymakers are helicoptering money to stimulate building, but it doesn’t appear to be working. Statistics Canada (Stat Can) data shows the total value of building permits fell sharply in April, dropping to the lowest monthly volume in nearly a year. The annual decline was so large it was amongst the largest since 2020. Canadian […]
Canadian real estate doesn’t just feel out of reach—there’s quantitative evidence. A new Statistics Canada (Stat Can) study shows that real wages have only seen modest growth from 1981 to 2024. When compared to the surge in real home prices, it becomes clear this generation isn’t just exaggerating—home prices have grown nearly 7x faster than […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Soars, Driven By Immigration More Than Tariffs Canadian unemployment climbed but it wasn’t due to tariffs as expected. The unemployment rate hit 7.0% in May, with the unemployed population hitting 1.6 million. The employed population grew as well—the problem is […]
Canada’s economy was dealt another blow last month, and it wasn’t due to tariffs. Statistics Canada (Stat Can) data shows the unemployment rate climbed aggressively in May, hitting a new multi-year high. Despite the narrative of tariff-induced job losses, the country managed to add a few thousand jobs. Rising unemployment continues to be driven by […]
Canadian real estate markets aren’t a buying opportunity—yet, according to BMO. In a research note to investors, the bank warned major cities are reporting home sales cooled further in May. These markets are also seeing inventory accumulate, leading to a demand balance that typically sees prices fall. Sellers resisting price cuts in hopes rate cut […]
Canada’s banks are suddenly warming up to real estate development loans. Bank of Canada (BoC) data shows chartered bank loans to builders and developers doubled in less than a year, after decades of modest growth. The sudden shift aligns closely with taxpayers getting involved in the market, de-risking lenders. Short of a catastrophic blow to […]
Canada’s central bank will hold rates in June despite the economy’s rising headwinds, according to BMO. In a report to investors, the bank warns accelerating core inflation is now above 3%—not just above the Bank of Canada’s (BoC) target rate, but also above its upper tolerance range. Slowing economic factors may bring down inflation eventually, […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s GDP Rises in Q1 2025—But Domestic Demand and Trade Flatline Canadian real GDP climbed 0.5% in Q1, following similar growth in Q4 after a downward revision. At first glance, it appears the economy is on stable footing, but a dive into […]
The Greater Toronto Area (GTA) real estate downturn continued with new homes last month. Altus Group data shows April was the worst month for new home sales on record. Lofty inventory and weak demand continue to apply downward pressure on prices, though they remain sticky at current levels. With demand at a record bottom, that […]
The Canadian economy may be outperforming, but households are getting slaughtered. The latest data from the Office of the Superintendent of Bankruptcy (OSB) shows consumer insolvencies surged in March. The 12-month volume has reached levels only seen during the 2010 and 2020 peaks—both periods known for sharp declines in economic activity. While annual growth had […]
