One of Canada’s Big Six banks thinks it cracked the real estate price situation. BMO’s chief economist, Douglas Porter, wrote a recent analysis on the gap between Canadian and US home prices. As recently as 2017, he maintained many markets were in a bubble. However, he’s come to embrace the lack of affordability. The noted […]
Canadian real estate prices aren’t just fast growing by local standards. They’re growing fast by any standard. US Federal Reserve data shows real home prices advanced in most of the G7 in Q3 2020. Canada topped the list of advanced countries for annual price gains. This isn’t a new trend though. Canadian real estate prices […]
A record number of Canadians are collecting unemployment benefits. Statistics Canada (Stat Can) data shows claims for regular employment insurance (EI) benefits in November. Unadjusted claims for the month came in at a record high for the data set. While it’s a historic surge, it was largely expected due to changes in the qualifying criteria. […]
Over the past few weeks, older homeowners have been pointing me to Canada’s Affordability Index. The index, created and maintained by the Bank of Canada (BoC) shows a big drop in Q3 2020. Further, it also spurred a few emails saying affordability was worse in the ’80s, Millennials are just complaining. Well, the issue is […]
Canada’s central bank didn’t devote a whole section for real estate to their latest monthly report like they usually do. However, the Bank of Canada (BoC) did provide a lot of insights in the January Monetary Policy Report. The central bank believes “elevated” housing activity was the result of a shift in buying behavior, as […]
Canada’s real estate markets are booming, but lenders are preparing for mortgage losses. Bank of Canada (BoC) data shows the allowance for credit losses due to mortgages reached a record high in Q3 2020. The record was reached with the biggest surge in the annual rate of growth since the Great Recession. Allowance For Credit […]
The vast majority of Canadians want to work-from-home, according to a new analysis from Canada’s largest bank. In RBC’s 2021 outlook, the bank’s economists note millions more now work-from-home as of last October. The forced shift to remote work, now has the majority of Canadians hoping to work-from-home, at least part of the time. Despite […]
Canada’s largest real estate markets aren’t even close to seeing employment recover. Statistics Canada (Stat Can) data shows the number of employed people in the country slipped in December. The largest real estate markets moved in various directions last month. However, all have significantly fewer jobs than they did last year. Canadian Employment Slipped Lower […]
Canadian mortgage delinquencies are fairly boring these days, until you drill down and look at the demographic shift. Canada Mortgage and Housing Corporation (CMHC) data shows mortgage delinquencies were flat in Q3 2020. When looking at their age breakdown though, it shows delinquencies on mortgages held by seniors is soaring. Balancing out the statistic is […]
Canadian mortgage delinquencies are falling, except for people really behind. Canada Mortgage and Housing Corporation (CMHC) data shows the change of mortgages past due in Q3 2020. Most segments of days past due (DPD) show a sharp decline in the most recent reported quarter. This was largely expected due to payment deferral programs. One segment […]
