New data from the world’s largest central bank serves a reminder of just how batsh*t crazy Canada’s real estate bubble is. Housing bubble experts from the US Federal Reserve Bank of Dallas (Dallas Fed) released its latest update of global home prices in Q3 2023. Most G7 countries moved in a similar fashion, rising with […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Economy Falling Behind, US Growing 10x Faster Per Capita Canada might have been making headlines for its population-driven growth. However, that’s looking at aggregate GDP, which fails to adjust for population growth. Looking at GDP per capita reveals households are falling […]
Canada’s economy has been making headlines for leading the G7, but many aren’t feeling the effects. That’s because gross domestic product (GDP) per capita has barely moved. Rather than growing the economy through economic improvements, Canada has only added more consumers through immigration. Adjusting for population, US households have seen their economic picture grow 10x […]
Global real estate prices are falling, especially in more advanced economies. Bank of International Settlements (BIS) data shows real home price growth was negative for most markets in Q2 2023. The same advanced economies that saw the largest growth post rate cuts, are now leading the way lower. They also appear to be struggling with […]
Exuberant Canadians are hooked on real estate, and consequently are following the central bank unusually close. A new report from BMO shows households have shifted price growth expectations with Bank of Canada (BoC) announcements. As the rate tightening cycle comes to an end, the bank sees the potential for the next round of central bank […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Immigration Plan Is Not Viable In Any Version of Reality: BMO Canada’s population growth strategy is quickly turning into a disaster. Not only has it driven interest rates higher, and failed to grow the economy—immigrants are finding themselves in precarious situations, […]
Canadian households are bracing for a mortgage rate renewal crisis, but how bad will it be? The Bank of Canada (BoC) estimates the majority of households will see payments rise over the next few years. Is it really a crisis though? If following the guideline for affordability used by policymakers, an increase is likely well […]
Canada may have record population growth but what happens if immigrants see the mass exodus of citizens? Statistics Canada (Stat Can) data shows Q3 2023 emigration, or reverse immigration, surged to an unusually high level. Canadians fled the country for a new home in such a large number, a 3 month outflow has only been […]
Time for the holidays, which means it’s time for window dressing season—even when it comes to inflation. The Statistics Canada (Stat Can) Consumer Price Index (CPI) stalled within spitting distance of the central bank’s target range in November. Downward pressure was created by falling energy costs, helping create a temporary halt of a carbon levy. […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian “Systemic Risk” Due To CLP Mortgages Is Bigger Than You Think OSFI, the country’s bank regulator, has mentioned combined loan plans (CLPs) are a systemic risk. Mainstream discussion of the issue was largely void though, as it was unclear how big […]
