Canada has a lot of new housing supply coming in the next few months, and it should provide market relief. The CMHC reported new housing starts remain historically elevated in September. BMO Capital Markets wrote to investors, explaining the units under construction have hit a record. Significant supply will hit the market in coming months, […]
Canadian businesses and households don’t see a bright future for the economy in the upcoming months. The Bank of Canada (BoC) released its Business Outlook Survey (BOS) for Q3 2022, and showed a massive erosion of the index. The index has only seen such a substantial decline immediately before a recession. BMO warned investors that […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Toronto Is The Biggest Real Estate Bubble In The World, Vancouver 6th: UBS Swiss mega-bank UBS published its annual Global Real Estate Bubble list, and two Canadian cities were prominently featured at the top. Toronto real estate has officially taken the crown […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Is Heading For A Recession, Financial Crisis Can’t Be Ruled Out: Oxford Econ The Canadian economy is heading for a recession and it doesn’t have much room to save itself, according to macro research firm Oxford Economics. They see a recession […]
Toronto real estate prices are reversing some of the gains made but have a long way to go before they’re gone. Toronto Region Real Estate Board (TRREB) data shows the composite benchmark, or typical home, fell once again in September. Greater Toronto home prices have now shed over $200k in value in just six short […]
Canadians have seen their net worth soar over the past couple of years. Now the market is taking back some of those gains, according to Statistics Canada (Stat Can). In Q2 2022, a sharp drop wiped out virtually all of this year’s gains. The wealthiest households have seen an average of nearly $200k wiped off […]
Ontario real estate will rise forever, since young adults wouldn’t move, right? That’s not what interprovincial migration data from Statistics Canada (Stat Can) shows. We talked about Ontario’s record outflows in Q2 2022, yesterday. The demographic moving deserves a deeper dive though, and where they’re moving is an important point to consider. A perfect storm […]
Canadian real estate is some of the most expensive in the world, and incomes are struggling to keep up with it. Statistics Canada (Stat Can) Census 2021 data shows over a quarter of homeowners in urban downtowns are in shelter poverty. The term is used to define a household that spends more than 30% of […]
Canada’s mortgage debt boom is slowing but still remains historically elevated. Bank of Canada (BoC) data shows outstanding mortgage credit hit a new record in July. Higher interest rates are throttling growth, as they shrink borrowing credit capacity. Even so, annual growth is still at a level rarely seen outside of Canada’s frothiest market cycles. […]
