Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Housing Investment Is Correcting At The Fastest Rate Since The 80s Bubble Pop Canadian housing investment has never dropped this fast without popping a bubble. Residential investment dropped to $133.1 billion in Q3 2023, a 13.8% decline from last year. The […]
Canada’s population boom led to a talent windfall, but the country has no idea how to use it. Statistics Canada (Stat Can) data revealed much better-than-expected job gains in August 2023. However, those job gains failed to keep up with the population growth, ultimately softening the labor market. It may get a lot worse soon, […]
Canadian real estate experts are torn on the impact of the latest central bank move. Last time the Bank of Canada (BoC) paused interest rate hikes, home prices surged. BMO warns not to expect a replay after the latest BoC pause. The economy is in a very different place these days, and most importantly—unlike last […]
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 […]
