Canadian Real Estate Fueled By Pre-Approvals, “Enormous” Shock Coming: BMO
Canadian real estate will see a second shock as mortgage pre-approvals secured at much lower rates fade, according to BMO.
Canada’s Worst Performing Real Estate Markets Are Toronto and Its ‘Burbs: BMO
Canada’s best performing real estate markets during the boom were in Southern Ontario, and now they’re the worst performing.
Canadians Saw Their Net Worth Fall By Nearly $1 Trillion, Biggest Drop In History
Canadian households saw their net work drop by $1 trillion in Q2, the largest quarterly decline in history.
This Week’s Top Stories: Canada’s Hard Landing, and The BoC Calls Real Estate Unsustainable
Top stories in Canadian real estate include a hard landing for the economy, and real estate’s unsustainable growth according to the BoC.
Bank of Canada and US Fed Interest Rate Forecast Gets An Upward Revision At BMO
BMO is hiking its interest rate forecast for Canada and the US by 25 basis points, on news of strong data and stubborn inflation.
Canadian Employment Fell As Young Adults Bear Most Job Losses While Seniors Gain
Canadian employment fell once again in July, falling for a third consecutive month. The unemployment rate also jumped, but remains low.
Inflation Is Still Rising, Real Estate Was Unsustainable: Bank of Canada
Canadian real estate was unsustainable and inflation is still rising, warned the Bank of Canada in a statement following rate hikes.
Bank of Canada’s Delayed Action Means A Hard Landing Is Most Likely: Oxford Econ
Oxford Economics now sees a moderate recession after the Bank of Canada now needs more aggressive rate hikes due to persistent inflation.
Canada’s Economy Is Still 30% More Dependent On Real Estate Than The US In 2006
Canada’s economy was a little less dependent on real estate in the last quarter, but still nearly 30% more dependent than the US in 2006.
Canadian Real Estate Prices Get Another Forecast Revision Lower From RBC
RBC quarterly filings reveal the bank is seeing its baseline expectations for Canadian real estate prices erode even further.
