CANADA’S ECONOMY SHRANK IN NOVEMBER FOR FIRST TIME THIS YEAR
The Canadian economy appeared to lose its strength toward the end of this year even as the central bank cut interest rates at a rapid pace. Advance data suggested gross domestic product shrank 0.1% in November, the first monthly contraction this year, after 0.3% expansion a month earlier, Statistics Canada said Monday. The October figure beat economist expectations of 0.2% in a Bloomberg survey. With October’s stronger-than-expected gain and November’s decline, the industry-based data point to...
read moreTHE END OF GROWTH? IMMIGRATION AND RENTAL INFLATION ARE SLOWING
Canada’s once unstoppable population growth is finally tapping the brakes, and the ripple effects are beginning to surface—most notably in the country’s rental markets. In a significant shift that could reshape the dynamics of Canada’s real estate landscape, the country has recorded the highest exodus of non-permanent residents (NPRs) since the Canada Mortgage and Housing Corporation (CMHC) began tracking this data in 2021. This exodus coincides with a marked softening of rental rates across...
read moreHAPPY NEW YEAR FROM RHB!
May the new year bless you with health, wealth and happiness. Wishing you the best for 2025!
read moreWEEK OF DECEMBER 23 2024 NEWSREEL WITH VANESSA TOPPLE AND JILLIAN KATZENBACK
As 2024 draws to an end, we put together a video previewing the new format for 2025. Our goal is to bring you more timely news so the weekly Newsreel will become a daily show featuring headlines from all real estate verticals. Enjoy this special preview with Vanessa Topple and Jillian Katzenback....
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CANADIAN INFLATION SLOWS, MORTGAGES PULL BACK WHILE RENTS ACCELERATE
Canadian inflation slowed further last month, but the details show why few people may have felt it. Statistics Canada (Stat Can) data shows progress for the headline measure of the Consumer Price Index (CPI), which decelerated in November. The agency reported a broad-based slowdown, though half of the major components were still growing significantly above the target. One of those components is Shelter, where mortgage interest growth slowed and rents resumed acceleration. Canadian Headline CPI...
read moreCANADA NEEDS LEADERSHIP, NOT CHEAPER POTATO CHIPS
There is never a good time for the federal government to be wracked by political instability because of the snap resignation of a finance minister. But seven weeks before an economic crisis hits the country is undoubtedly the worst time. Chrystia Freeland’s departure from cabinet was dramatic, complete with a resignation letter that catalogued the shortcomings of the Trudeau government. But Monday’s turmoil is not what should concern Canadians. No, the bigger worry by far is the Liberals’...
read moreWEEK OF DECEMBER 16 2024 NEWSREEL WITH VANESSA TOPPLE
A headline caught our attention read – B.C. housing minister says policies to thank for rent price dip. We fact checked the statement....
read moreBANK OF CANADA TO RESUME CAUTIOUS APPROACH TO RATE CUTS NEXT YEAR: TD CHIEF ECONOMIST
TD Bank’s chief economist says the Bank of Canada is unlikely to make another 50-basis point (bps) cut to its overnight lending rate next year as the bank reached the top end of its neutral range with its latest jumbo cut on Wednesday. “At this point, they have hit their neutral range, at least the upper end of what they had previously estimated, and they need to be careful because you can overshoot,” Beata Caranci told BNN Bloomberg in a Thursday interview. “(Which) could provide too much...
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