Mortgage delinquencies are rising across Canada, but nowhere quite like Ontario. Canadian Bankers Association (CBA) data shows mortgage arrears continued to rise in November. Ontario has seen its rate more than quadruple in just over three years, hitting the highest level since 2012. Ontario Mortgage Delinquencies Soar To 13-Year High Ontario mortgage arrears rate: Mortgages […]
Most Canadian real estate markets have resisted the national price decline—but that resilience is cracking. Canadian Real Estate Association (CREA) data shows the price of a typical home fell in December, with only PEI and Quebec posting gains. While most of the downward pressure has been concentrated in Ontario and BC, Nova Scotia abruptly posted […]
One of Canada’s largest banks just delivered bad news for real estate investors—it’s a bubble already deflating. BMO Capital Markets warns that home prices have been sliding for over three years, more closely resembling the US housing crash in 2007 than Ontario’s last correction. The bank expects a long, drawn-out recovery, cautioning it’s “next to […]
Toronto real estate may have to accept that its pre-pandemic premium is gone. TRREB data shows composite home prices fell further in September, with losses accelerating. A mild uptick in sales was overshadowed by inventory surging to a record high. The demand balance is weaker than during the 90s crash, the region’s last major correction. […]
Canadian unemployment is rising, and the country’s largest province is leading the trend. Ontario’s unemployment rate climbed to 7.9% in May—nearly a full point above the national average. A new report from BMO warns the province’s unemployment rate is now at a level not seen outside of the worst recessions. The problem is set to […]
Canada’s education system is facing a reckoning: Even during the record tight labor market, graduates struggled to find jobs—with Ontario at the center of the issue. New Statistics Canada (Stat Can) data shows fewer graduates were able to find a job within 3 years of graduating. The study is conducted every 5 years, with the […]
Alberta is the only province making the most of Canada’s most valuable natural resource—young workers. Statistics Canada (Stat Can) interprovincial migration data shows it was the only province that managed to attract young workers, aged 25 to 45 years old. This demographic is critical to regions, driving economic growth and long-term prosperity. It’s the only […]
Canadian real estate isn’t getting much of a boost despite lower rates and billions in stimulus. Canadian Real Estate Association (CREA) data shows the price of a typical home (composite benchmark) slipped lower in December. Despite plunging rates, most provinces saw prices grind lower and all but one remained lower than the record high. Meanwhile, […]
Canada’s largest provincial economy is unlikely to be the driver of an economic boom any time soon. The Financial Accountability Office (FAO) of Ontario released its economic and budget outlook for 2024, and it was not very rosy. The non-partisan government agency, tasked with providing the public with independent analysis and forecasts of the economy, […]
Canadian real estate prices surged after rate cuts, and have generally cooled since rates began to normalize. Canadian Real Estate Association (CREA) data shows the composite benchmark, which represents a typical home, ripped higher after rate cuts in March 2020 and peaked when rates began to normalize in 2022. A big exception is Eastern Canada, […]
