Canada’s increasingly hostile business environment is starting to show up in the data. Office of the Superintendent of Bankruptcy (OSB) data shows a sharp increase for business insolvencies in Q1 2024. A weak consumer combined with a soaring cost of doing business has led to a surge in businesses seeking protection from creditors. Experts warn […]
Greater Toronto real estate prices are on the rise but may not be the usual sign of market strength. Toronto Regional Real Estate Board (TRREB) data shows the benchmark, or typical home, price climbed significantly in April. However, it wasn’t due to a tight market. Last month marked one of the weakest Aprils on record […]
Greater Toronto’s Great Supply Shortage may be coming to an end, but the narrative is alive and well. Data from developer consulting firm Urbanation shows new purpose-built rental vacancy rates across the Greater Toronto-Hamilton Area (GTHA) have climbed significantly as of Q1 2024. The share of available units is now much higher than pre-2019 rates, […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Changes Blur The Line Between Normal & Crisis: CMHC Canada was warned directly funding its mortgages would be a disaster, but it’s seeking the same impact anyway. The Government of Canada sought advice from the CMHC on directly funding mortgages […]
The real estate slowdown in Canada’s largest city is starting to show increasing signs it’s not just a blip. Greater Toronto saw a sharp climb to its mortgage delinquency rate in Q4 2023, according to Equifax data. The share of delinquent mortgages has nearly doubled in just over a year, leading to the highest rate […]
Last month provided more evidence that Canadian real estate markets are credit driven. Toronto Regional Real Estate Board (TRREB) data shows home prices made a massive jump in March. Was it fewer listings and strong sales that drove a typical home’s price almost $20k higher in a single month? Nope, it was just good old […]
Toronto’s population boom has led to rapid growth of its talent pool—but can they find work? Statistics Canada (Stat Can) data shows Toronto’s unemployment rate rose significantly faster than the national rate in February. The city’s unemployed population has grown to hundreds of thousands of people, with annual growth rising 11x the rate of its […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Ontario Premier’s Company Quietly Sold A $6.75m Property, Flipped Months Later A company associated with Ontario’s Premier quietly sold a pricey piece of land. The industrial property in West Toronto went for $6.75 million, a premium compared to comps. The buyer didn’t […]
Ontario may have been locked down, but a company connected to the province’s top politician was busy at work. In December 2020, CoStar reported a company connected to Premier Doug Ford sold 85 Vulcan St., an industrial property in West Toronto. The deal didn’t gain any media attention outside of the commercial real estate platform, […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices To Fall Even In Optimistic Scenario: Scotiabank One of Canada’s largest banks doesn’t see rate cuts boosting home prices by next year. Scotiabank’s forecast, filed with its recent earnings report, shows prices falling by next year. Even in […]
