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 […]
Toronto was a great place, but neglect and arrogance has it facing a brutal future. It tops the global real estate bubble index, and a sharp recession is ahead. There’s construction everywhere, and residents have no idea who this city is being built for. Young people are fleeing rapidly, and taking the city’s energy with […]
A Swiss mega bank is warning the global credit bubble has produced a global real estate bubble. UBS published its 2022 Global Real Estate Bubble Index this week, and Toronto took the top spot. Vancouver remains in the Top 10, with the bank noting all of Canada is generally frothy. The recent price growth is […]
Canada’s recession will hit much faster than expected, warned the country’s oldest bank this morning. In a research note to investors, RBC moved up its forecast for a moderate recession. They attributed this to soaring inflation, causing interest rates to climb very sharply over the past few months. They forecast hundreds of thousands of jobs […]
Canadian real estate prices are plummeting, but have a long way to go before the froth dissipates. BMO warned investors over the long weekend that home prices deviated from the trend by up to 76% in Q1 2022. Home prices historically only add a small premium to real wage growth and interest rates. However, Canada […]
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 […]
Canada’s economy is eroding at an unusually fast rate, and financial conditions are tightening. Oxford Economics, a global macro research firm, warns their recession index shows a recession is almost certain at this point. It’s unlikely to be a brief one either, with the central bank unable to rely on lower rates due to high […]
Canadian real estate has never been less affordable, according to Canada’s largest bank. RBC warns housing affordability eroded to its worst level on record in Q2 2022, with households now requiring a record share of income. Despite falling home prices, affordability is still eroding due to rising interest rates. However, the bank sees home prices […]
