Government of Canada Archives - Better Dwelling

Canada Expects Unemployment To Rise 211k Within Months, Mostly Immigrants

Stephen Punwasi — Wed, 22 Nov 2023 18:35:57 +0000

Canada’s government is bracing for winter, and not the kind that brings fluffy white stuff. This week the Government of Canada (GoC) released its 2023 Fall Economic Statement. Buried amongst notes on higher deficit spending is a forecast for a sharp decline for labor. Unemployment is forecast to rise by hundreds of thousands of people […]

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Canada’s New Housing Minister Has Already Demonstrated He’s Clueless

Stephen Punwasi — Fri, 11 Aug 2023 18:48:54 +0000

Canada’s new housing minister has only been in office for a few days, and already stumbled. In a Bloomberg Interview, Minister Sean Fraser pledged to make housing more affordable without lowering prices. He reiterated the housing-is-an-investment mindset, before dropping suggestions that would reinforce higher prices. Great news for investors. Not fantastic if you pay taxes, […]

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Canadian Immigration Data Shows The Biggest Month In At Least A Century

Daniel Wong — Tue, 16 Nov 2021 23:15:33 +0000

Canadian immigration was slow through the pandemic but it’s now back with a vengeance. Government of Canada (GoC) data shows permanent resident arrival admissions soared in September. It didn’t just recover from the lull either. The number of arrivals in the month was the biggest number in at least a century. Canada Sees A Record […]

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Canadian Bond Yields Hit Pre-Pandemic Levels, A Sign Higher Mortgage Rates Are Near

Daniel Wong — Wed, 13 Oct 2021 01:06:03 +0000

The Canadian bond market is sending real estate a message — credit is going to tighten. Government of Canada (GoC) 5-year bond yields hit the highest level in a year today. Yields for the segment are now triple the level they were last year. Since GoC bond yields influence mortgage rates, this will drive the […]

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A Canadian Government Official Finally Used The Term “Bubble” To Describe Property

Stephen Punwasi — Fri, 23 Apr 2021 02:42:22 +0000

The Canadian property bubble was recognized by an unlikely entity — the Canadian government. MP Adam Vaughan dropped the b word this week. Vaughan isn’t just an elected official, but also the Secretary to the Minister in charge of most of the country’s housing policy. In a Twitter exchange, he explained how difficult it’s been […]

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Canada’s 2021 Budget Will Likely Have Little Impact On Home Prices

Daniel Wong — Tue, 20 Apr 2021 01:48:10 +0000

The Canadian real estate industry got what it wanted from the latest budget — nothing. The Government of Canada (GoC) released Budget 2021 this afternoon. Despite housing becoming a boiling point issue, it was largely ignored. There were few commitments that would impact market prices in the near term. Beneficial Ownership Won’t Be Arriving Until […]

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This Week’s Top Stories: Canada Says It Won’t Let Home Prices Drop, and Bubble Soft Landing Gets Less Realistic

Better Dwelling — Sun, 18 Apr 2021 16:31:00 +0000

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Says Property Bubble “Not Great” For Locals, Good For Foreign Investor Canada officially said any home price drop is unacceptable, even if locals can’t buy a home. One of the country’s politicians in charge of housing policy said a 10% drop […]

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