Canada’s real estate sector is making a shift. Statistics Canada (Stat Can) data shows FIRE sector jobs made a small decline in June. The aggregate movement was small, but most of the gains are being made in smaller provinces. Larger provinces like Ontario and Quebec lost thousands of jobs in the sector last month. FIRE […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Household Debt Had The Slowest May Growth Since 1983 The growth rate of Canadian debt continues to fall to levels not seen in years. Bank of Canada estimates the balance of household debt reached $2.19 trillion in May, up 3.4% […]
Canadians are a little more cautious about borrowing these days. Bank of Canada (BoC) numbers show household debt reached a new all-time high in May. Even though the balance is at a record high, the rate of growth is rapidly cooling. Canadian household debt grew at the slowest rate for May since 1983. Canadian Household […]
Toronto real estate continues to trend higher, but isn’t quite there yet. Toronto Real Estate Board (TREB) numbers show prices advanced in June, and are a few points below the high. The rise in aggregate price measures, are largely due to an increase in demand for detached homes in the 905. Meanwhile “cheaper” Toronto condos […]
Canadian business insolvencies are picking up, after heading lower the past few years. Office of the Superintendent of Bankruptcy (OSB) data shows a rise in business insolvencies this year. The increase year to date marks the end of five consecutive years of fewer filings. Insolvency, Bankruptcy, and Consumer Proposals If you’re not familiar with insolvencies, […]
Greater Toronto Area (GTA) new home sales spiked to the highest level in years. Altus Group’s May numbers show it was the highest number of sales in 16 years. Even though the month was higher, year to date sales are still some of the weakest in recent history. The boost in sales are likely due […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canada Lost 16,000 Jobs In May, Over 11,000 Were In Construction Canadian job numbers made an unusual decline in May, mostly due to a drop in construction. ADP employment numbers dropped to 16,519,461 jobs in May, down 0.10% from the […]
Canadian real estate demand slid last month, but a few markets bucked the trend. Canadian Real Estate Association (CREA) numbers show the sales to new listings ratio (SNLR) fell in May. The decline was most prominent in British Columbia real estate markets, which led the index lower. Markets east of Toronto are starting to warm […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Price Growth Looks Absurd When Compared To Bubbly US Cities Canadian real estate prices made such a large move since 2000, the growth dwarfs even the frothiest of US cities. Toronto, Montreal, and Vancouver have seen real estate […]
Canadian real estate prices have been distorted by a massive overextension of credit. Just how bad has it become? The view is always tricky from inside the bubble, so let’s compare them to our neighbors down south. Comparing prices to the frothiest US cities, we can see how odd Canadian real estate has become. The […]
