One of Canada’s top credit bureaus warned of higher delinquencies in 2019, and here they are. Equifax numbers show consumer delinquencies are on the rise in Q1 2019. The move was expected by the firm, which stated in the previous quarter, that 2019 would see higher levels. The overall rates remain relatively low, however credit […]
The Canadian real estate slowdown is putting a drag on GDP numbers. Statistics Canada (StatCan) numbers show residential investment fell for a fifth consecutive quarter in Q1 2019. Historically, a decline in residential investment in countries with high levels of ownership are a recession flag. Residential Investment and Why You Care Residential investment (a.k.a. residential […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Debt Hits A New Record, $1.56 Trillion Outstanding Canadian mortgage debt reached a new all-time high. There was over $1.56 trillion in mortgage debt outstanding in April, up 3.2% from last year. While there is some growth, it’s extremely […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Bank Of Canada Staff Warn Home Equity May Be Concealing Financial Distress Bank of Canada staff have released an analytical note, examining new home equity data and its growth. Stand-alone home equity line of credit (HELOC) debt fell to $63 billion […]
Canadian housing starts ripped higher last month, but that’s only part of the story. Canada Mortgage and Housing Corporation (CMHC) numbers show a surge in new home construction starts in April. Despite April’s surge in activity, new home starts are significantly behind last year. Canadian Real Estate Starts Spike In April, But Still Lag Canadian […]
Near record low interest rates may still be too high for highly indebted Canadian households. Bank of Canada (BoC) numbers show the growth of the M1+ money supply fell to a multi-year low in March. The decline of this measure is typically indicative of slowing future economic activity. The M1+ The M1+ is a narrow […]
Canadians still aren’t returning to the real estate market, and it’s hitting mortgages. Canadian Bankers Association (CBA) numbers show November had fewer mortgages than the year before. The decline represents the fourth month the market has seen negative prints. Prior to this, the number of mortgages hadn’t dropped on an annual basis in over 29 […]
Money laundering in Canadian real estate is a widely accepted fact of life these days, but the impact isn’t. Government and academics are still debating how much money is needed to distort a market. The truth is, not a whole lot is required to distort any asset market. This is a problem the stock market […]
Canadian real estate sales continue to slide even lower. Canadian Real Estate Association (CREA) numbers show sales dropped once again in March. The decline in home sales across the country marks an unusually long period of negative growth. Canadian Real Estate Sales Fall To 6 Year Low Canadian real estate sales slipped once again. CREA […]
Canadian real estate prices are dropping, but they’re very far from their peers. US Federal Reserve Bank of Dallas (Dallas Fed) data shows real prices across the country are down in 2018 Q4. Even with the decline, prices are massively elevated compared to other G7 economies. About The Index Home prices in this index use […]
