Canada has earned itself a reputation as a hub for dirty money over the past years, and it doesn’t seem to be phased by it. Financial Transactions and Reports Analysis Center of Canada (FINTRAC) data show reports of suspicious transactions have surged higher in recent years. At the same time, the financial watchdog is conducting […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Resembles 80s Bubble, Higher Rates To Solve Supply Issue: BMO Canada’s real estate market resembles the late 80s bubble, according to BMO. Charting Ontario price growth over the two periods, they found similar trajectories. They also see the same […]
As public health restrictions linger, more companies realize they don’t need office space. Statistics Canada (Stat Can) data shows new public health restrictions had more people work from home in January. Nearly a quarter of labor now permanently works from home, with that share rising sharply in big cities. The shift can change cities from […]
Canada’s oldest bank sees today’s real estate markets having a lot in common with the late 1980s bubble. In a research note to its financial markets customers, the Bank of Montreal (BMO) highlights the similar trajectory homes have made. A similar event that slowed home price growth during that period is approaching — higher interest […]
The head of Canada’s bank regulator called the country’s housing market what it is — a speculative frenzy. Office of the Superintendent of Financial Institutions (OSFI) superintendent Peter Routledge gave his take on housing this week. Speaking on the Herle Burley podcast, the regulator explained he sees real estate market exuberance. In his opinion, it […]
Canada’s central bank increasingly sounds like it doesn’t believe its transitory narrative. In a speech to the Senate committee today, the Bank of Canada (BoC) Governor updated lawmakers on monetary policy. He repeated mostly highlights from last week’s meeting, including the end of stimulus. He also warned households to prepare for higher rates, as they […]
A leading indicator of future building is flashing big growth, but there’s a catch. Statistics Canada (Stat Can) data shows a huge climb for building permit values in 2021. Values climbed by over a quarter, one of the largest increases in history. Unfortunately, the national statistics agency attributes two-thirds of the growth in value to […]
Canadian real estate prices are some of the fastest growing in the world, and have been for some time. The US Federal Reserve (the Fed) updated its real home price index for Q3 2021. All G7 countries are seeing home price growth, but nowhere is quite like Canada. In Canada, real estate prices have grown […]
Canadian real estate demand is soaring, and it has builders very excited. The Canadian Home Builders’ Association (CHBA) updated its Housing Market Index, this week. The index, a leading indicator of builder sentiment, reached a new record in Q4 2021. While the index only goes back a year or so, the abrupt climb was a […]
Canadians are borrowing mortgage debt at one of the most rapid rates in history, and with good reason. Bank of Canada (BoC) data shows borrowers were getting rock bottom rates in November. The rates are actually so low, they’re now way below inflation. Canada now has negative real mortgage rates, which are as close to […]
