Canadian mortgage credit growth is accelerating into the pandemic – despite the lock down. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in March. The number also saw one of the highest rates of growth for the segment in years. Despite the optimistic sounding trend, one needs to remember hundreds […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Prices Could Drop Up To 30%, Moody’s Advises Institutions Deep pocketed investors and institutions were advised Canadian real estate prices will fall. Moody’s, one of the world’s largest risk organizations, published their economic forecast. In the baseline forecast, […]
One of the world’s largest risk advisory firms says Canadian real estate won’t be spared. Moody’s Analytics released their Canadian Q2 forecast, showing how COVID-19 will impact the Canadian economy. The firm advised their institutional clients that real estate will be impacted, with even an optimistic scenario showing price declines. Risk Assumptions and Baselines First, […]
Canada’s national statistics agency surveyed businesses to gauge the impact of the pandemic, and it’s not pretty. Statistics Canada (Stat Can) surveyed 12,000 business operators between April 3 and 24, on how COVID-19 impacted them. Some businesses are minimally impacted, much to our surprise. However, the majority have seen significant revenue declines, and have had […]
Canada’s largest real estate markets should prepare for a very different economy over the next few years. Statistics Canada (Stat Can) data shows unemployment in Toronto, Vancouver, and Montreal made big climbs in March. As bad as the loss is, it’s muted by a rapid decline in the participation rate. This means the loss of […]
Canadians got temporary price relief, but it could be a sign of more serious issues brewing. Statistics Canada (Stat Can) reported one of the largest declines in the history of the consumer price index (CPI) for March. The decline puts the index’ growth to one of the lowest levels in years. While low to no […]
Canada’s largest land registry operator saw Canadian real estate prices moving higher. The Teranet–National Bank of Canada House Price Index (HPI) shows prices increased in March. Analysts from the creator of the index warned the pandemic is likely to have an abrupt shift soon. As the lockdown carries on, they expect the index to cool […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Parliament’s Forecast Includes Unemployment Peaking In Q3 Canadian parliament’s economic forecasts include unemployment rising even further. The PBO economic forecast currently sees 14.8% unemployment in Q2, and the ratio peaking at 15% in Q3. At the end of last year […]
The Canadian government isn’t exactly planning for a v-shaped employment recovery. The Parliamentary Budget Officer (PBO), who gives non-partisan financial forecasts to parliament, updated their forecasts. While the focus of the forecast is how the federal government’s finances will look, there’s some interesting assumptions that are important from a macro perspective. The government is planning […]
Brick and mortar small businesses have been forced shut, or face almost no traffic. Wage relief is being delivered, with the government covering up to 75% of payroll costs at impacted businesses. Subsidized wages help, but another very large expensive still needs to be considered – rent. Commercial rents have been soaring, and tenants, even […]
