Time for your cheat sheet on this week\u2019s top stories.<\/p>\n
Canadian Real Estate<\/p>\n
Canadian Affordability Best In 4 Years, Still At 90s Bubble Levels: RBC<\/a><\/p>\n Canadian housing affordability is the best it\u2019s been in the past 4 years, but that\u2019s not as great as it sounds. RBC estimates a median household needs to spend 53% of its income on a home in Q1 2026, a 4-year low. That\u2019s roughly the same level of affordability as Q2 1990, when the largest bubble in history peaked (present company excluded). The bank warns prices are now rising and rate cuts are unlikely, limiting future help.<\/p>\n Continue Reading\u2026<\/a><\/p>\n Canadian GDP Climbs On Oil & Government Spending, Already Slowing<\/a><\/p>\n The latest GDP report shows Canada\u2019s output climbed 0.5% in April, following a 0.1% drop in March. Growth appears broad, with 14 of 20 sectors expanding in the latest data. Drilling into the data reveals the headline isn\u2019t quite as optimistic as it sounds. The vast majority of Canada\u2019s output growth came from oil & gas, and public spending\u2014both temporary. Their contribution is already fleeting, with StatCan\u2019s forecast showing a slowdown.\u00a0<\/p>\n Continue Reading\u2026<\/a><\/p>\n Canadian Jobs Up, But Most Gains Went To People Getting A Second Gig<\/a><\/p>\n The country is adding more jobs, but they\u2019re mostly getting scooped by those who already have one. Payrolls added 22,000 jobs in April, and a sharp loss in March was revised to show growth instead. The payroll data is seemingly in conflict with employment data due to the methodology. Most payroll growth was second jobs, but employment counts people\u2014not jobs. In short, the payroll data isn\u2019t the positive sign many believe it is. It reveals that more workers need to find additional work to tackle the rising cost of living.\u00a0<\/p>\n Continue Reading\u2026<\/a><\/p>\n Toronto Real Estate<\/p>\n Toronto Real Estate Prices Resume Decline, Inventory Remains Lofty<\/a><\/p>\n Toronto real estate prices fell 0.6% in June, following four months of gains. That may be surprising given the tighter market, with more sales and fewer listings. There\u2019s a good reason\u2014even with the tightening, it was one of the weakest Junes for sales with total inventory remaining high. A good reminder that a tighter or improved market isn\u2019t the same as strong or normal market conditions.<\/p>\n Continue Reading\u2026<\/a><\/p>\n Vancouver Real Estate\u00a0<\/p>\n