Demand for new homes in Toronto has fallen to one of the weakest levels in years, despite soaring incentives. Altus Group and developer-group BILD GTA data shows new homes sales plunged even lower in October. Even with prices down more than 30% since peak and falling rates, buyers are still sitting the market out. The […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Loses 1 In 5 Immigrants, High-Skill Labor Most Likely To Flee Canada is world-renowned for its ability to attract immigrants, but few realize how many it fails to retain. A new study found that 1 in 5 immigrants leave for onward […]
Canadian politicians are in the holiday spirit and feeling generous with taxpayer funds ahead of election season. This week the Government of Canada (GoC) announced a “holiday” from the GST sales tax, as well as stimulus checks in the coming year. This follows the Ontario government’s announcement of stimulus checks arriving around the same time. […]
Canadian households sent another sign they’re getting comfortable borrowing—the return of home equity loans. Statistics Canada (Stat Can) data shows the balance of home equity line of credit (HELOC) accounts, continued to climb in September. The segment went through a lull as higher rates and stricter lending standards motivated deleveraging. However, with the return of […]
Canadian inflation is picking up, surprising the market despite warnings the slowdown was temporary. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) accelerated sharply in October. Experts largely reiterated their expectations of a double-rate cut by next month. However, the data used by the central bank to justify the last double-cut has […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Makes A Huge GDP Revision, BoC Made Supersized Rate Cut On Bad Data Canada’s economy is doing much better than previously believed, and that’s a problem. Statistics Canada made astronomical revisions to real GDP, adding the equivalent of an extra year […]
Canadian real estate prices continued its downtrend last month, printing even larger losses. Canadian Real Estate Association (CREA) data shows the price of a benchmark (typical) home fell in October, despite a surge in sales. Prices continued to grind lower and are now similar to where they were 3 years ago. Surging home sales are […]
Highly indebted Canadian households are seeking a lot more creditor relief than usual. Office of the Superintendent of Bankruptcy (OSB) data shows insolvency filings made a big uptick in September. It was actually such a big uptick that it came in as the third-worst September in at least 40 years. It’s a general trend that’s […]
The number two at Canada’s central bank just made it clear she isn’t a policy cheerleader, like the Governor has been in recent months. Bank of Canada (BoC) Deputy Governor Carolyn Rogers addressed finance professionals at the Economic Club of Canada last week, explaining the usual mortgage market risks. It got more interesting when she […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Rental List Prices Make First Drop Since COVID, BC & ON Cities Lead Lower Canadian rental prices just made their first annual drop in years. The average monthly asking price for a rental fell to $2,151 in October, down 1.2% from […]
