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 […]
Canada’s economy continued to add jobs last month, but it wasn’t good news. Statistics Canada (Stat Can) data show the country added a huge number of new jobs in June 2023. However, the massive gains weren’t enough to prevent the unemployment rate from rising. That’s right—Canada’s record population growth is outpacing its ability to create […]
Canadian real estate market activity is cooling, warned the country’s largest bank. RBC observed supply in virtually every major market rose in June. At the same time, they note that sales are growing at a much slower rate than in previous months. If the current market conditions hold, they expect price appreciation to grind lower. […]
Greater Toronto real estate wasn’t looking as confident as it had been recently. TRREB data shows the price of a typical home (composite benchmark) climbed in June 2023. However, the increase was notably smaller than recent months, potentially indicating slowing momentum. At the same time, some affluent suburbs returned to falling prices—one dropping as much […]
Canadians have been able to maintain an epic borrowing spree, but cracks are starting to appear. Transunion’s Q1 2023 Consumer Pulse survey found a significant share of households won’t be able to cover their bills. Behind the lack of financial confidence is sky-high inflation, that’s leading consumers to cut back on spending, and delaying plans […]
The Canadian central bank’s addiction to low rates helped households rack up dangerous amounts of debt. Statistics Canada (Stat Can) data shows the household debt to income (DTI) ratio smashed the previous record in Q1 2023. Households are now the most highly leveraged in the country’s history, as they borrow money at a significantly faster […]
What recession? Canada’s economy continues to grow against the forecasts of experts. In a research note to investors, BMO explained they’re making an upward revision to its Canadian gross domestic product (GDP) forecast. Despite climbing interest rates, the economy continues to outperform. That has the bank warning that higher rates will stick around longer than […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Makes The 90s Real Estate Bubble Look Like Affordable Housing Canadian real estate became just a little more affordable, according to the RBC Affordability Index. A median household would need to spend 59.5% of its income on debt servicing to buy […]
