Canadian real estate showed some encouraging signs last month, but don’t be fooled. RBC Economics wrote to clients breaking down major markets that have reported November sales. Canada’s largest bank warned that the market is still firmly in correction mode, with just a few exceptions. Despite minor signs of firming, they see real estate markets […]
Canada’s economy is growing, but don’t let the headline data fool you—the country is still heading for recession. Statistics Canada (Stat Can) gross domestic product (GDP) data showed big growth in Q3 2022. However, taking a dive past the headline number reveals things aren’t as great as they might appear. Household spending made a rare […]
RBC no longer sees a soft-landing as a possibility, and now expects a moderate recession will kick off as early as the end of this year.
RBC quarterly filings reveal the bank is seeing its baseline expectations for Canadian real estate prices erode even further.
Canada’s largest bank might be its largest real estate bear after last month’s sales. This week RBC explained to investors that a Canadian real estate correction is here. Following downward revisions to the bank’s forecast, key markets reported further erosion. They see the correction spreading wider, and may be the deepest in half a century. […]
Canada’s largest bank sees the country’s real estate bubble popping like no other. Last week we explained RBC is getting ready to revise its forecast lower, and they made it official today. The bank explained to investors the correction will be larger than previously expected. They’re now forecasting the largest downturn in history for both […]
Earlier this year, Canada’s largest bank forecasted low home price growth. However, RBC warned risk was slanted to the downside which is now here. In the bank’s commentary on existing-home sales, they found the correction is spreading. As a result, the bank now expects prices to fall across the country over the next few months. […]
Canada will need to pump the breaks to stabilize its overheated economy. That was the message from RBC Economics’ latest research on inflation. Sky-high inflation has forced central banks to adopt an aggressive rate hike schedule. Cooling inflation (and the economy) with rapid rate normalization is now the plan. The slowdown is expected to begin […]
Canada’s largest bank is bullish on the economy but not on home prices. RBC regulatory filings reveal they see home prices making a modest decline by next year. That’s if the economy encounters no unexpected hiccups. However, the bank warns they’ve placed more weight to the downside as the outlook darkens. In the downside scenario, […]
Canadian real estate is approaching a game changing environment, according to the country’s biggest bank. RBC Economics notified customers they’ve made downward revisions to their home sale forecast, as rates rise higher than expected. The Bank of Canada (BoC) tries to cool potentially destabilizing inflation, it’s expected to reduce budgets. Lower budgets following record demand […]