Canadians were warned about building a housing-based economy, now they’re approaching a lost decade. National Bank of Canada Financial (NBF) recently wrote to institutions to warn the country’s productivity is stagnating. As a result, so is the quality of life as real gross domestic product (GDP) remains at the same level it was 7 years […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Ontario Premier’s Company Quietly Sold A $6.75m Property, Flipped Months Later A company associated with Ontario’s Premier quietly sold a pricey piece of land. The industrial property in West Toronto went for $6.75 million, a premium compared to comps. The buyer didn’t […]
Canada’s economy went from mass shortages to excess in roughly zero-to-five. The Bank of Canada (BoC) announced a widely expected hold for its key interest rate this morning. There are encouraging signs when it comes to moderating inflation, and in their opinion more time at these levels will help bring it back to their target […]
Canadian businesses aren’t just increasingly closing up shop, but they’re facing debt problems too. Office of The Superintendent of Bankruptcies (OSB) data shows business insolvencies surged in January. A combination of a slowing economy, rising input costs, soaring debt, and end of pandemic assistance has led to the biggest month for business insolvencies in nearly […]
Canadian households are struggling to manage their astronomical debt loans. That’s the warning from credit rating agency Equifax Canada, who noted a surge in both mortgage and non-mortgage credit delinquencies in Q4 2023. The issue is emphasized in pricey BC and Ontario, especially when it comes to young adults. Canadian Mortgage Delinquency Rates Are Climbing […]
The Canadian economy is weakening but not enough to cut rates. That was the takeaway in a new National Bank of Canada Financial (NBF) report. The bank’s chief rate strategist still sees the country’s economy weakening, but it’s recently provided just enough positive data to convince the Bank of Canada (BoC) hold off on any […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices To Fall Even In Optimistic Scenario: Scotiabank One of Canada’s largest banks doesn’t see rate cuts boosting home prices by next year. Scotiabank’s forecast, filed with its recent earnings report, shows prices falling by next year. Even in […]
Canadians are suddenly big savers while Americans are spending like drunken sailors on pay day. On the surface, that sounds like good news for Canada but it’s traditionally a sign of growing consumer hesitance, slowing the economy. At the same time, the resilient American consumer is leaning into further consumption, pushing their economy to defy […]
Canada’s economy is proving to be more resilient than virtually all analysts had anticipated. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) climbed in Q4, driving annual growth into positive territory. Accompanying the gain was an upward revision to the previous quarter’s decline, revealing an economy that may struggle with growth but […]
Many Canadians are bracing themselves for a post-rate cut boom, but at least one big bank doesn’t see it. Scotiabank’s macroeconomic scenario forecast accompanying their Q1 2024 earnings shows they’re pessimistic on home prices. Even in their most optimistic scenario, the bank expects home prices to fall over the next year. Macroeconomic Scenario Forecasting Modern […]
