Toronto’s real estate downturn deepened last month, and new homes weren’t spared. Data from industry group BILD shows September sales hit a record low for the month, worse than the 1990s real estate crash. Most of the data looked ominous, but there was a curious detail—condo prices climbed, defying the demand collapse. That divergence may […]
The Bank of Canada (BoC) cut its overnight rate by 25 basis points to 2.25% this morning, citing weak investment and falling demand. It also reminded Canadians that monetary policy is meant to keep inflation low and stable—then promptly put that on the sideburner. The BoC warned that monetary policy won’t fix the current headwinds, […]
Canada’s private-sector business environment is worse than headline data suggests. Statistics Canada (StatCan) data shows active businesses were little changed in July, but a closer look reveals the economy has seen big changes. Active business growth is increasingly concentrated in sectors dependent on public spending. The headline data has obscured reality, masking a sharp erosion […]
Canada’s about to become one of the world’s largest exporters of shiny rocks. BMO Capital Markets recently told investors that gold is just a hair shy of being Canada’s second-largest export. Underlying output has quietly scaled over the past 25-years, leaving the industry well-positioned for the recent price surge. Though it’s worth noting that the […]
Canadian real estate is forecast to see some sunshine—but not without periods of volatility. RBC now sees a gradual path to recovery for home sales, but warns it will be uneven, softening its stance on a “soft landing.” Most markets are expected to improve—except Toronto and Vancouver, where prices are seen falling further. The outlook […]
Canadian real estate revived an old risk: mortgage debt is back in the driver’s seat. Statistics Canada (Stat Can) data shows household credit climbed again in August, driven almost entirely by mortgage debt. While borrowing remains historically slow, mortgages are still growing much faster than other forms of credit—now accounting for nearly 8 in 10 […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Sees Foreign Investment Surge, But They Want Debt—In US Dollars Canada just saw foreign investment return—but not in a good way. The country saw a net inflow of C$25.9 billion in August, the largest in over a year, and it was […]
Canada just got another recession warning—falling new vehicle sales. Statistics Canada (StatCan) data shows new motor vehicle sales fell sharply in August, marking the biggest drop for the month since 2010. Durable goods like vehicles and homes see sales fall after the peak of the business cycle, signaling a recession that can’t be managed with […]
Canadian real estate developers are pulling back, even as policymakers flood the system with incentives. Statistics Canada (Stat Can) data shows residential building permit values plunged in August, and the drop was even larger after adjusting for inflation. Canadian homebuilders are sending a clear warning signal: the risk is rising even faster than the astronomical […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Resembles US Bubble After Perfect Storm: BMO Canadian real estate’s correction now mirrors the 2007 US housing bubble, according to BMO. Ontario prices have plunged much faster than any historical correction, more closely tracking US housing post-Great Recession. If […]
