Good Morning! The pandemic housing market has defied gravity — and Canadians are paying for it. Housing affordability in the first quarter of this year saw its worst decline since 2018, and its first fall in four quarters, according to the National Bank of Canada’s housing affordability monitor. It now takes a representative Canadian household
posthaste
Good Morning! Well, that was a surprise. The Bank of Canada took a step towards easing pandemic stimulus yesterday — the biggest yet by a major economy — with a hawkishness that surprised many observers. Not only did it say it would reduce purchases of government debt (which was expected), it also brought forward its
Canada’s housing market is booming, fuelled by a smorgasbord of cheap debt. But what happens when interest rates start to rise? (and eventually they will). First off, this is not 2008, even though in the years leading up the financial crisis, housing saw a similar boom. Capital Economics argues in a report this week that