Canada’s largest real estate markets have seen sales plummet, helping inventories. That was the message from RBC, who warns that existing home inventories in the country’s major markets are rapidly replenishing. In a note to investors, they explain that a flurry of new home completions and the start of the monetary easing cycle is motivating […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Adds 42k Workers, 1 In 5 “Long-Term” Unemployed Canada’s economy hasn’t lost many jobs, but it isn’t making many either. That’s a big problem when the country’s population is growing at one of the most rapid rates ever. Unemployment climbed […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Surges For Young Adults & Recent Immigrants Canada went from a shortage of workers to a surplus driving unemployment in just a few months. In 2022, Canada ramped up immigration with the idea it would fill rising job vacancies. Since […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Weakness Is Mostly Just Ontario & Nova Scotia Canadian home prices fell according to the national index, but it may not tell the whole story. About three-quarters of markets across the country actually saw home prices rise. If excluding […]
Global inflation is easing, and lower rates are on the horizon, but those who didn’t take advantage missed out. That was the message from the Bank of Canada (BoC) Governor, speaking at the International Economic Forum of the Americas yesterday. Governor Tiff Macklem told the conference that central banks have made significant progress on inflation, […]
Canada’s highly indebted households are now too indebted for prudential management. After a low rate, investor-driven home buying spree, many borrowers are unable to keep up with rising rates, despite having been “stress tested” for a similar scenario. As a result, banks and regulators granted temporary extensions to the maximum period a mortgage can be […]
Canadian renters are getting a rough introduction to the country’s foreign investor problem. The Canada Revenue Agency (CRA) just informed tenants they’re on the hook for any unpaid taxes their non-resident landlord may owe. In a bizarre decision, the nation’s tax authority is telling tenants who pay rent to non-resident landlords to withhold a portion […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Housing Agency Bizarrely Forecasts Record Home Prices & Weak Economy Canada’s economy is heading for a downturn, so prepare for record home prices. That was the message from the CMHC, the country’s national housing agency and state-owned mortgage insurance provider. Their […]
Canada is on an epic borrowing spree, and that’s not good news for anyone else. The Government of Canada (GoC) new direct and guaranteed bond issuance made a big jump in March. It was the biggest monthly issuance of GoC debt since 2021, and it came ahead of the latest budget’s new proposed spending—while the […]
Canada is rolling out new policies to help its highly indebted households support soft demand for new housing. Earlier today, the Government of Canada (GoC) announced new measures to increase the amount of capital used to buy new homes. New home sales have been weak at these prices, and rather than letting prices fall, it […]
