Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Still Climbing As Population Outpaces Jobs 3x Canada’s economy continues to add jobs, but not nearly enough for its population growth. The latest data shows employment grew 0.1% (+27k jobs) to 20.5 million jobs in May. At the same time, […]
Canada’s labor market continues to add jobs, but not nearly enough to keep it from falling behind. Statistics Canada (Stat Can) released the latest Labor Force Survey (LFS) showing employment grew in May. The same data shows the growth was just a third of what was needed to accomodate its rapid population growth. As a […]
Canada’s central bank kicked off its easing cycle, but it’s far from providing ease. The Bank of Canada (BoC) announced it would be cutting the overnight rate earlier today. It attributes the need to cut to the economy growing slower than they had forecast. They further warn the economy is in a phase of excess […]
Spring was supposed to be when Toronto real estate made its comeback, but boy was that call off. TRREB data shows home prices slipped further in May, marking the third consecutive year that lower seasonal peaks were observed. However, price drops were the least notable data point last month, with the most inventory for the […]
Canada’s record population growth combined with slowing new home construction might seem paradoxical at first. The Government of Canada (GoC) claims it’s because housing is “illegal” but a confidential memo sent to lenders indicates it’s an issue of leverage. The CMHC quietly notified lenders they’ll be extending the maximum amortization, or length of repayment. The […]
The Canadian economy is getting ready to part ways with its closest ally, at least when it comes to performance. A new analysis from RBC looks at the emerging gap between the historically intertwined economies, and notes Canada is significantly underperforming its neighbours to the South. The weakness of Canada’s highly indebted households in contrast […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Home Prices “Need” To Be High To Pay For Retirements: PM Canadian Prime Minister Justin Trudeau just said the quiet part out loud. In a recent interview, the country’s head of government stated that he wants affordability to improve, but prices […]
Canada’s economy went from boom to bust faster than anyone could anticipate. Statistics Canada (Stat Can) data shows slower-than-expected real gross domestic product (GDP) in Q1 2024, along with a downward revision for the previous report. Combined with the rapid population growth, this has led to a rapid decline in per-capita real GDP. In fact, […]
Canada may be in the process of losing its reputation as an investment safe haven. Statistics Canada (Stat Can) released its balance of international payments for Q1 2024, reinforcing preliminary data showing investors are looking for opportunities abroad. It also revealed foreign investors are engaging in their first divestment from the country in 14 years, […]
Canada’s favorite Maritime province has been a big winner when it comes to real estate. It’s economy? Not so much. Statistics Canada (Stat Can) data shows real gross domestic product (GDP) per capita made a sharp downturn in 2023. The province’s shock was so large, it returned the quality of life measure back to 2016-levels. […]
