Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s CMHC Internal Messages Show Housing Supply Narrative Is BS Canadian real estate prices are expensive because of a lack of supply, and building more should fix it—right? That’s been the narrative for years, but it’s not what the CMHC has been […]
Everyone in Canada will soon be able to afford a home. We just need investors to build more and rates to be cut, right? Anyone that can do basic math has probably been skeptical of that narrative and with good reason—even the people making those statements don’t believe it. Internal messages from the CMHC make […]
Canadian condo prices have been resisting a correction, but might be ready to give in soon. CREA data shows Canadian condo prices fell for a second consecutive month in June, wiping out most of the progress made this year. Condo prices have been relatively resilient despite rising interest rates, but historically weak demand and rising […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Weakens As People Flee Toronto & Vancouver: BMO Canadian real estate markets remain weak after rate cuts but are driven by weakness in just a few regions. That was the take in the latest research note from BMO, which […]
Canadian real estate didn’t get a boost from a recent rate cut. That’s good news, according to BMO’s latest research note. The bank broke down CREA’s June update on existing home sales, and believes this is what the Bank of Canada (BoC) would like to see. Cheaper credit didn’t suddenly spark exuberant demand, potentially clearing […]
Canada’s job market hasn’t kept up with its population growth, and that’s bad news for major real estate markets. Statistics Canada (Stat Can) data shows unemployment continued to rise in June. A deep dive shows the weakness is concentrating in some of the country’s most important real estate markets. Just five cities represent most of […]
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 […]
Canadian households are more indebted than they think. A new report from Quebec-based Desjardins’ shows households recently accumulated a world class amount of debt. In fact, households borrowed so much that they’re now the third most indebted across the world. Even more surprising is the fact this debt is mostly held by just a small […]
Canadian inflation is demonstrating it can be a lot stickier than the central bank expected. Last week’s CPI report showed annual growth accelerated, reversing some of the Bank of Canada (BoC) progress on taming inflation. The move sharply lowered the odds of the BoC making another cut later this month, but there’s still a chance, […]
