Nova Scotia is the latest province to wage war on remote work as governments try to anchor people to big cities. The Government of Nova Scotia (GNS) has ordered thousands of its non-union staff to work out of the office full-time starting next month, even those who haven’t since 2015. The move follows corporate and […]
Canada appears to be doubling down on its position that more demand will create affordability. Earlier this week, the Government of Canada (GoC) announced its “boldest mortgage reforms ever,” including its most ridiculous mortgage reform ever—first-time buyers using state-backed, high leverage loans to purchase $1.5 million homes. Confused? You’re probably thinking: First-time buyers usually don’t […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Is Killing Work-From-Home & It’s Bad News For Small City Real Estate Canadians embraced work-from-home almost immediately in 2020, especially in government. It was branded the “new normal,” which workers took as a cue to move into distant suburbs, breathing new […]
Canada will have a hard time putting a positive spin on the latest employment data. Statistics Canada (Stat Can) data shows the country added jobs in August but added 4x the volume of workers too. As a result, the unemployment rate pushed higher—especially in the country’s largest cities, which are now showing unemployment rates consistent […]
The Canadian population is surging but concerns of excess supply are still mounting. As widely anticipated, the Bank of Canada (BoC) announced a rate cut this morning at its September meeting. The central bank is seeing progress on inflation but it may be too much—they’re now worried about deflation. At least one of Canada’s largest […]
Canada’s remote workforce has been breathing new life into small cities, but that may come crashing down soon. The Government of Canada (GoC) has ordered its remote workforce back to the office starting next week. The reasons cited haven’t been particularly strong, but the impact on big cities has been. Downtowns have been hollowed out […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Government Spending Now 80% of GDP Growth Canada’s economy grew faster than expected but still showed recession-like behavior. Annualized real GDP growth came in at 2.1% for Q2 2024, much higher than market expectations. However, the details were less flattering with […]
Canada’s economy is expanding, but the details are worth reviewing before getting too excited. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) grew more than expected in Q2 2024. A dive into the details shows productivity further eroded on a per capita basis, while household spending weakened. Most growth is now government […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Inventory Grew More Than 2x The Rate of Sales Canadian home sellers expected rate cuts to stimulate the market, but apparently no one told buyers. July saw annual growth of new listings grow at double the rate of sales. […]
Canada’s planned builder boom is turning into a bust. The Canadian Home Builders Association (CHBA) released the results of its Q2 2024 survey. They found that home builder sentiment remained negative for an 8th consecutive quarter. As a result of weak demand, most plan to significantly reduce the numbers of homes they build—by half on […]
