The Most Splendid Housing Bubbles in Canada, August: Home Prices -3.9% YoY, -16% from Peak with Biggest Drops in Toronto, Hamilton-Burlington, Victoria, Ottawa as Montreal, Vancouver Dip by Wolf Richter • Sep 16, 2024 • 50 Comments In Calgary, the first drop after a relentless surge. Edmonton and Quebec City set new highs.
Bank of Canada Balance Sheet QT: -52% from Peak, QT Continues even after Third Rate Cut by Wolf Richter • Sep 10, 2024 • 26 Comments Repo activity wakes up again.
Most Splendid Housing Bubbles in Canada, July 2024 – Toronto, Vancouver, Victoria, Ottawa, Calgary, Montreal, Edmonton, Quebec, Winnipeg: Market “Hits Pause” Despite 2 Rate Cuts by Wolf Richter • Aug 15, 2024 • 41 Comments Toronto single-family prices -15% from peak, condos at multiyear lows. Calgary & Quebec City reach new highs.
The Most Splendid Housing Bubbles in Canada, June: A Rate Cut, and? Overall Prices Don’t Move, -14% from Peak, -3.4% YoY. Sales -9.4% YoY by Wolf Richter • Jul 12, 2024 • 49 Comments Prices from 2 years ago: Toronto -15%, Vancouver -2.5%, Victoria -11%, Ottawa -10%, Montreal -1.8%. Calgary & Quebec set new highs.
Inflation in Canada Throws Another Curveball: Core CPI Spikes Month-to-Month by Most since 2022 by Wolf Richter • Jun 25, 2024 • 32 Comments It was obviously “unexpected.” But the Bank of Canada has been leery of this sort of mess showing up.
The Most Splendid Housing Bubbles in Canada, May 2024: Prices Drop Further, -14.4% from Feb 2022 Peak, -2.4% YoY, back to Sep 2021. Spring Rally Dud by Wolf Richter • Jun 17, 2024 • 29 Comments Sales drop further, new listings & inventory rise. Prices: Toronto -16% from peak. Vancouver flat for 9 months, -2.5% from peak. Calgary & Quebec hit new highs.
Bank of Canada Cuts by 25 basis points, to 4.75% as Economy and Inflation Slowed. QT Continues by Wolf Richter • Jun 5, 2024 • 53 Comments Rate hikes seem to be more effective in Canada than in the US in slowing the economy and bringing down inflation.
The Most Splendid Housing Bubbles in Canada: Spring Rally Fizzles, Prices -14% from Peak in Feb 2022, Below Sep 2021 by Wolf Richter • May 16, 2024 • 75 Comments New listings rise, inventory does 2nd biggest jump on record. Toronto prices -15% from peak, but Vancouver only -3.4%, Calgary sets new high.
The Most Splendid Housing Bubbles in Canada: Home Prices Dip Further, -14% from Peak in March 2022, Now Below Sep 2021 by Wolf Richter • Apr 12, 2024 • 104 Comments Condos in Toronto hit 28-month low. But Vancouver house prices only -3.9% from peak in 2022. Calgary house prices jump to new high; oil boom helps.
Bank of Canada Balance Sheet QT Sheds 64% of Pandemic QE Assets, Indicates QT Might End in September 2025 by Wolf Richter • Apr 7, 2024 • 53 Comments “Balance sheet normalization” will continue even if the BoC cuts its rates. It’s all about “settlement balances.”
