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Daily Archives: February 22, 2024
Mortgage renewals driving shelter inflation and slower economy
As I have been pointing out…years of easy money and housing speculation have left Canada’s economy between a rock and a hard place. Shelter costs (28% of Canadian CPI) are inflating as mortgages come up for renewal month after month. … Continue reading
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Commercial real estate stress is spreading
In 2023, the national office space vacancy rate reached 19.6%, above the 19.3% historic peak in 1991. The overcapacity, over-valuation and debt write-downs needed in commercial real estate are themes that will persist for some time. No quick fix. Federal … Continue reading
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