Canadian real estate markets aren’t firming up with rate cuts—demand is softening. RBC is warning investors that early data shows rate cuts failed to stimulate major markets in July. In fact, they generally observed the opposite trend—sales continued to weaken while inventory climbed, as investors try to lighten their market exposure in key regions like […]
Canadian policymakers created a bigger issue than the one they tried to solve with population growth. A new survey from Angus Reid found that 1 in 4 households are seriously considering leaving their province due to housing costs. Two key demographics are feeling the lion’s share of the pressure—young adults and recent immigrants. The problem […]
Canadian real estate profits have taken a nosedive like no other major industry in the country. Statistics Canada (Stat Can) data shows corporate profit margins in Q1 2024 were within historical ranges. A notable exception is real estate, which is now significantly below its usual range of profits—though they still remain higher than all but […]
Canada is proving that a massive population boom doesn’t always mean a booming economy. Statistics Canada (Stat Can) data shows the number of active businesses slipped lower in November. A lot more businesses have been shuttering their doors recently, and fewer entrepreneurs are interested in replacing them. Canadian Businesses Peaked Back In January 2023 Canadians […]
Debt-crazed Canadians may not be borrowing to buy a home, but they are borrowing—a lot. Bank of Canada (BoC) data reveals outstanding mortgage credit made a small climb in December, at an unusually slow pace. Mortgage debt is now growing at the slowest rate in over two decades, with home prices now firmly placed out […]
Canadian policymakers are sprinting across the country to rain cash to stimulate homebuilding. Unfortunately, it’s not working with new housing starts actually falling further from targets in January. BMO wrote to investors to explain this is predictable, since the targets were unrealistic and will never be hit. Partially due to the lack of resources available […]
Greater Toronto real estate is getting a boost from the return of cheaper financing. TRREB reported existing home sales in the region ripped higher in January. Growth significantly outpaced new inventory, helping to firm the market. However, there had been so few buyers recently that the massive growth barely translated into a balanced market, and […]
Canada’s leaders are beefing with the country’s central bank over affordability. Last month, Premiers notified the Bank of Canada (BoC) that rate hikes are making life unaffordable, especially when it comes to housing. The BoC fired back a warning that they shouldn’t be trying to influence a central bank. That’s technically correct, but leaves people […]
Canada’s central bank made no changes to its key interest rate but the hikes may not be over. As the market expected, the Bank of Canada (BoC) made no changes to rates this morning. Eroding consumer spending and a slow economy were amongst the reasons cited. They did raise their inflation outlook though, indicating hikes […]
Canadian inflation is heading in the wrong direction as rising energy costs return. The Statistics Canada (Stat Can) Consumer Price Index (CPI) shows annual growth accelerated in August. It was the second month inflation accelerated, leading to the loss of the briefly-held title of “lowest inflation in the G7.” Economists expect inflation to continue rising […]
