Canadian real estate prices are back to climbing aggressively just over a year after the correction began. Canadian Real Estate Association (CREA) data shows the price of a composite benchmark, or typical, home surged in April 2023. The unusually large increase observed also happens to be similar in size to increased leverage from falling mortgage […]
Canada’s expected to fall into recession later this year, but it may already be there by a traditional definition. Real gross domestic product (GDP) per capita data shows the country is in a per capita recession, one of the traditional definitions. These events are associated with an eroding standard of living, and it’s expected to […]
Canadian real estate prices are climbing on the country’s booming population. More demand means higher home prices, right? Not so fast, it may not be as straightforward as the narrative. Statistics Canada (Stat Can) data released today shows immigrant income levels from a survey conducted in 2021. Recent immigrants to Canada earn significantly less than […]
Canada’s ambitious plan to grow its population through immigration hit a roadblock—it’s running out of applicants. Government of Canada (GoC) data shows applications received for permanent residency fell sharply in February. Despite record population growth, a soaring cost of living and slowing economy has resulted in a trend of fewer applications since peaking in 2021. […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices Set To Rip Higher After BOC Signal: BMO Canada’s real estate correction might be over less than a year after kicking off. BMO observed home buyers returned to the market shortly after the central bank “paused” hikes. At […]
Canada’s real estate correction may already be over, as prices return to sharp growth. BMO Capital Markets wrote to investors this week to explain they see higher home prices in the near-term. The bank observed that shortly after the Bank of Canada (BoC) warned of no further rate hikes, buyers returned with bigger budgets and […]
Canada’s largest bank is seeing signs of stress, as the cheap money binge haunts borrowers. RBC wrote to investors this week to warn households are beginning to fall behind on credit payments. As the economy begins to slow and job losses mount, the bank is forecasting things are going to get a lot worse over […]
Canada’s two largest real estate markets saw home prices rocket higher last month. Toronto and Vancouver real estate prices climbed in April, rising at the same rate. Both markets are seeing sales rise and tighter inventory, but it’s unlikely to have produced the same growth rate in both cities. Falling mortgage rates that introduced leverage […]
Canada’s housing crisis might be getting a lot more intense with its population boom accelerating even faster than its previous record. Immigration, Refugees and Citizenship Canada (IRCC) data shows permanent residents were up significantly in February. Beating last year’s record growth isn’t easy, but it’s on track to easily surpass the growth. Canada Admitted 33% […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Banks Are Extending Amortizations Over 35 Years To Avoid Defaults Canada’s Big Six banks have a significant share of mortgages with amortizations over 35 years. BMO, CIBC, TD, and RBC all reported over a quarter of their portfolio had amortizations over […]
