Economics

Canadian Housing Starts (December 2021)

Posted on Jan 18, 2022 in Economics

Canadian Housing Starts (December 2021)

Canadian housing starts fell to 236.1k units in December at a seasonally-adjusted annual rate (SAAR). This brings the total number of housing starts in 2021 to 271.2k, 16% above the previous record in 2004. Housing starts were down by 67.7k (22.3% m/m) in December (SAAR). Comparing year-over-year, starts were...

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Federal Fiscal Update: Canada Has Weathered The Pandemic Storm Relatively Well

Posted on Dec 16, 2021 in Economics

Finance Minister Chrystia Freeland extolled the performance of the Canadian economy in response to the extraordinary support provided by the federal fiscal authorities and the Bank of Canada in the past 21 months. The economic recovery has been the second strongest in the g-7, and the death rate from Covid-19 was the second-lowest. Emergency spendi...

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November Home Sales Lead to New Annual Record in BC

Posted on Dec 15, 2021 in Economics

Vancouver, BC – December 15, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 9,159 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November 2021, a decrease of 3.4 per cent from November 2020. The average MLS® residential price in BC was $993,922, a 22.1 per cent increase from $814...

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 Bank of Canada Interest Rate Announcement

Posted on Dec 08, 2021 in Economics

The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls
"extraordinary forward guidance"
in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and inflation sustainably returns to its 2 per cent targe...

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Canadian Employment (November 2021)

Posted on Dec 03, 2021 in Economics


Canadian employment grew for the sixth consecutive month in November according to   Statistics Canada, rising by 154,000 to 19.316 million (0.8%, m/m). Canadian employment had recovered to its pre-pandemic level in September and is now roughly 1% above that level. Since the prior survey period, public health measures were largely unc...

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Inflation Surge Is No Need For Hysteria

Posted on Nov 19, 2021 in Economics

Inflation in Vancouver Real EstateStatsCanada today reported that consumer price inflation rose to 4.7% from year-ago levels in October, compared to 4.4% in September. This is in line with market expectations and is well below the US's 6.2% pace reported for the same period. Inflation is rising all over the world, the direct result of extreme weather events and supply chain chaos g...

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