This Week’s Top Stories: Canadian Real Estate Prices To Fall Further & Surging Bond Yields

Time for your cheat sheet on this week’s top stories.

Canadian Real Estate

Canadian Real Estate Price Correction To Be One of The Largest In The World: Fitch

Canadian real estate prices are seen further correcting due to eroding market conditions. Fitch Ratings’ latest analysis shows prices falling 15%, due in part to rising rates. It’s the second largest correction in their global analysis, following the second largest price growth.

Canadian home prices are estimated to be overvalued by 29%, and falling prices will help bring that lower. However, don’t expect a bloodbath. Despite the weak outlook, delinquencies are forecast to remain relatively low. That is, unless the US recession is larger than expected…

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Canada’s Population Boom Fueled By Underutilized Immigrants With Insufficient Shelter: RBC

Canada won the population growth lottery, but has no clue what to do with it. RBC, the country’s largest bank, immigration accounts for nearly all population growth now. These immigrants are young and better educated than the workforce, which is potentially good news for patching over the demographic time bomb. 

Unfortunately, the general consensus is that immigrants are overqualified for the jobs they’re finding.   

An RBC analysis shows the country’s population growth is almost entire immigration. The immigrants also tend to be younger and better educated than the workforce, providing the potential to unleash an economic boom. However, immigrants are finding themselves in roles they’re overqualified for. The bank warns without policy to help address the issue, the boom will only exacerbate the issues the government is hoping they’ll fix.

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Canadian 5 Year Bond Yields Surge To 2023 High—Bad News For Home Prices

Government of Canada (GoC) 5-year bond yields have reversed course, and are climbing. At the end of last year, yields had been falling as the market forecast a weak economy. Those fears are failing to materialize, with robust unemployment and sticky inflation. Consequently, over the past four weeks yields have surged to the highest level in months. Since GoC yields influence mortgage yields, that’s bad news for those looking for cheap debt to reignite the market.

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  • Mark Bayly 1 year ago

    You can’t trust documents coming from these corrupt countries. Do you think these immigrants are coming from Sweden? Immigration is a vote importimg disaster Canada is short two million housing units and Trudeau is vote importing a million people a year. Anything for a vote.

  • Joshua Brown 1 year ago

    Back it up. Canada is the most educated nation on the planet, so why the lies dude!

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