Canada’s economy is eroding at an unusually fast rate, and financial conditions are tightening. Oxford Economics, a global macro research firm, warns their recession index shows a recession is almost certain at this point. It’s unlikely to be a brief one either, with the central bank unable to rely on lower rates due to high […]
Canadian real estate has never been less affordable, according to Canada’s largest bank. RBC warns housing affordability eroded to its worst level on record in Q2 2022, with households now requiring a record share of income. Despite falling home prices, affordability is still eroding due to rising interest rates. However, the bank sees home prices […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Alberta Is Calling? Ontario Residents Are Fleeing The Province In Record Numbers Ontario is seeing residents flee in record numbers these days. Nearly 125,000 Ontario residents left for new provinces in the year-ending Q2 2022, up 54.7% and a new record. Adjusting […]
Ontario real estate will rise forever, since young adults wouldn’t move, right? That’s not what interprovincial migration data from Statistics Canada (Stat Can) shows. We talked about Ontario’s record outflows in Q2 2022, yesterday. The demographic moving deserves a deeper dive though, and where they’re moving is an important point to consider. A perfect storm […]
Canadian real estate owners are doubling down on their windfall and becoming landlords. Statistics Canada (Stat Can) Census 2021 data reveals a boom in new homes used as rentals. Low rates have helped investors outcompete first-time homebuyers, as institutions have warned. New supply has seen the smallest share go to end users in decades, according […]
Canadian real estate is some of the most expensive in the world, and incomes are struggling to keep up with it. Statistics Canada (Stat Can) Census 2021 data shows over a quarter of homeowners in urban downtowns are in shelter poverty. The term is used to define a household that spends more than 30% of […]
Forecasts no longer expect Canada to avoid a hard landing for the economy or real estate, as inflation sends internet rates soaring.
BMO is warning Canadian investors that a hard landing is now unavoidable as interest rates are forced higher by inflation.
Canada’s economy and real estate are in for a hard landing that kicks off within six months, warned Oxford Economics.