Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Markets See Supply Soar As Investors Exit: RBC Canadian real estate markets have seen supply soar as investors head for the exit. That was the take from RBC, who warned investors that low rates didn’t stimulate buyers so much […]
Vancouver real estate has fared well since the market slowed, but signs of stress are appearing. Equifax data shows Vancouver mortgage delinquencies climbed in Q1 2024. The delinquency rate remains relatively low, but it made a sharp turn and has already climbed back to pre-pandemic levels. Slow borrowing and sales still persist, meaning this trend […]
Canadian mortgage borrowers are experiencing a hiccup when it comes to payments. Equifax Canada data shows mortgage delinquencies climbed further in Q`1 2024. While the delinquency rate remains relatively low from a historical standpoint, the sharp climb made over the past few quarters may show it can change soon. Canadian Mortgage Delinquencies Are On The […]
Canadian real estate didn’t get a boost from a recent rate cut. That’s good news, according to BMO’s latest research note. The bank broke down CREA’s June update on existing home sales, and believes this is what the Bank of Canada (BoC) would like to see. Cheaper credit didn’t suddenly spark exuberant demand, potentially clearing […]
Canadian policymakers created a bigger issue than the one they tried to solve with population growth. A new survey from Angus Reid found that 1 in 4 households are seriously considering leaving their province due to housing costs. Two key demographics are feeling the lion’s share of the pressure—young adults and recent immigrants. The problem […]
Canada’s job market hasn’t kept up with its population growth, and that’s bad news for major real estate markets. Statistics Canada (Stat Can) data shows unemployment continued to rise in June. A deep dive shows the weakness is concentrating in some of the country’s most important real estate markets. Just five cities represent most of […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Still Climbing As Population Outpaces Jobs 3x Canada’s economy continues to add jobs, but not nearly enough for its population growth. The latest data shows employment grew 0.1% (+27k jobs) to 20.5 million jobs in May. At the same time, […]
Greater Vancouver real estate’s predicted Spring boom currently looks like a bust. Greater Vancouver Realtors, the new name for REBGV, reported home prices moved minimally in May. What really stood out was a collapse in sales and a surge in inventory, an unusual sight at this time of year. How unusual? Outside of 2020, one […]
Canadians fleeing major cities was supposed to be a temporary trend, but it’s accelerating at a breakneck speed. Net interprovincial migration, the balance of people who arrived and left provinces, accelerated in 2023. Economists at BMO are warning this trend was unusually strong in the country’s traditional economic hubs—Toronto, Vancouver, and Montreal. The bank attributes […]
Canada found the solution to making study permits coveted again—imposing limits. After applications slowed and the housing crisis intensified, Immigration Refugees and Citizenship Canada (IRCC) announced it would tighten its study permit process. Shortly afterwards, application volumes surged, with the current year on track to be the busiest ever. Just the first two months of […]
