“The presence of investors in real estate markets can amplify house price cycles,” the Bank of Canada said in a note accompanying the data. https://www.theglobeandmail.com/business/article-investors-account-for-30-per-cent-of-home-buying-in-canada-data-show/ #tore #toronto #cdnecon

Extraordinary changes in multi-factor productivity, capital intensity and labour input composition account for the unprecedented swings in Canadian labour productivity between 2020 and 2023. For discussion see: https://philip635.substack.com/p/interpreting-recent-productivity #cdnecon

'There is no province in Canada where workers can afford an apartment at minimum wage. The neighborhood-level data paints a dire picture of out-of-control rents.' https://monitormag.ca/reports/cant-afford-the-rent #cdnecon #canlab #tore #vanre #inflation

🤔 "An assessment of housing price valuations in Canada during the fourth quarter of 2021, carried out by Moody’s Analytics, found that Peterborough homes were overvalued by a jaw-dropping 107.8%. It just beat out St Catharines-Niagara for the title, with homes there said to be overvalued by 106.9%" https://storeys.com/peterborough-ontario-overvalued-housing-market/ #tore #cdnecon #inflation

Financial Consumer Agency of Canada publishes industry guideline to help protect Canadians with existing mortgages. https://www.canada.ca/en/financial-consumer-agency/news/2023/06/financial-consumer-agency-of-canada-publishes-industry-guideline-to-help-protect-canadians-with-existing-mortgages.html #inflation #cdnecon #tore #vanre

Canada immigration explained. https://omny.fm/shows/the-big-take/canadas-ambitious-immigration-experiment-explained (Randy Thanthong-Knight, Bloomberg) #demographics #cdnecon #canlab #tore #vanre

Gap Between Canada’s Rich and Poor Is Widening at Record Pace https://bit.ly/46Aupv9 #inequality #cdnecon #tore #vanre #inflation

Canada bank regulator says lenders should urgently tackle risks from mortgage extensions https://reut.rs/3NqQxjd #tore #vanre #cdnecon #inflation

🤔 https://www150.statcan.gc.ca/n1/daily-quotidien/230613/dq230613b-eng.htm #tore #vanre #cdnecon #housing #inflation

The 12-month change in the national payroll was 7.3% in May, down from 7.9% in April, according to the LFS. Average hourly earnings were up 5.1%, employment up 2.4% and average weekly hours worked were down 0.3%. #cdnecon

As strong as the volume of Canadian household spending was in the first quarter, it remained below the pre-pandemic trend line. In value terms, however, spending remained well above the trend line and the gap continued to widen, due to still-high consumer price inflation. #cdnecon

Household spending rose a hefty 1.4% in volume in Q1, fuelling a strong quarter, StatCan told us yesterday. But the monthly pattern shows it was weakening at the end of the quarter. Goods spending dropped an estimated 1.0% in March and services spending was flat. #cdnecon

I invite you to take a look at my latest substack piece on Canada's productivity performance compared to that of other countries. #cdnecon https://philip635.substack.com/p/productivity-performance-in-canada

What is #inflation and why does it burn? https://www.statcan.gc.ca/en/sc/podcasts/eh-sayers-s03-ep04 #cdnecon #econ #podcast

SEPH data for March indicate that Canada's aggregate payroll was up just 4.7% vs a year earlier, with employment up 3.3%, average hourly earnings up 2.5% and average weekly hours worked down 1.2%. It seems inflation and the economy are both slowing. #cdnecon

A good sign for inflation: the big surge in Canadian factory-gate prices has clearly come to an end (for now, at least). It fell 0.2% in April vs March and 3.5% vs April 2022. #cdnecon

🤔 The Consumer Price Index (#CPI) rose 4.4% year over year in April 2023, following a 4.3% increase in March. https://www150.statcan.gc.ca/n1/daily-quotidien/230516/dq230516a-eng.htm #inflation #cdnecon

'The only one who hedges their risk is the builder. The buyers are the ones who suffer.' https://www.theglobeandmail.com/real-estate/toronto/article-looking-for-blood-condos-nearing-completion-with-mortgage-appraisals/ #tore #toronto #vanre #cdnecon #inflation

If you're making so much goddamn money, why do you keep asking for tax breaks?
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RT @LNGAction
The women and men who are the #CanadianEnergy industry are massive contributors to our national quality of life. #CdnEcon
https://twitter.com/LNGAction/status/1645294580668207104

'It won’t surprise you to hear that we are not wearing rose-coloured glasses.' https://www.theglobeandmail.com/business/article-banks-high-risk-mortgages-osfi/ #tore #vanre #cdnecon #inflation