National sales activity plunges to lowest levels in almost 5 years
Canada’s housing market saw another so-called payback sales drop in February, when the national average home price slumped by 5% from a year ago, after a surge in sales late last year from homebuyers looking to purchase ahead of this year’s new mortgage rules.
The latest monthly figures from the Canadian Real Estate ...
BIS warns of Canadian debt levels
According to a recent report from the Bank for International Settlements, Canada has one of the world’s three most imperilled banking systems. Canadian household debt is through the proverbial roof, and understandably, the BIS’s warning might invoke unpleasant memories of the financial crisis a decade ago.
It’s for that reason, then, ...
Government's cannabis bill faces live-or-die vote in Senate today
Upper house could throw wrench in Prime Minister Justin Trudeau's plan for full legalization by summer
The government's cannabis bill faces outright defeat in the Senate today if it can't secure enough support from members of the Red Chamber.
According to an agreed timetable, senators will ...
CMHC says pace of housing starts picked up in February
The pace of new home construction picked up unexpectedly in February driven by strength in the condo market in major cities, Canada Mortgage and Housing Corp. said Thursday.
Meanwhile, Statistics Canada reported that building permits rose beyond expectations in January — particularly in the condo market — signalling continued ...
Governments bent on cooling home prices could get more than they bargain for
Do falling housing prices eventually impact local and provincial revenue?
While governments in Canada are focused on arresting the growth in housing prices to promote affordability, the unintended consequences of steeper-than-envisioned declines also merit consideration.
Municipal and provincial revenues are ...