| | | | | | | | Welcome to our newsletter, The Friday Finale! A simple, quick snapshot of information for you! Below are recent highlights of news over the past two weeks. | | | | | | | Average Asking Rent Prices Reach $2,193 in February, up 10.5% from 2023 | A new report says the average asking price for a rental unit in Canada was $2,193 per month in February, marking a 10.5 per cent jump year-over-year and the fastest annual growth since September 2023. The data released Monday by Rentals.ca and Urbanation, which analyzes monthly listings from the former’s network, shows the average monthly cost of a one-bedroom unit in February was $1,920, up 12.9 per cent from the same month in 2023. | | Bank of Canada Worries a Rate Cut Now Could Overheat the Spring Housing Market | The Bank of Canada is trying to thread a needle. It's keeping rates higher for longer at least in part because it's worried a rate cut now could undermine the last two years of pain and progress. "We don't want to keep monetary policy this restrictive for longer than we have to. But nor do we want to jeopardize the progress we've made in bringing inflation down," said bank governor Tiff Macklem. | | | | This Week's Top Stories: Canadian Mortgage Delinquencies & Business Insolvencies Surge | Canadian mortgage delinquencies are climbing at an unusually fast rate, warns a credit rating giant. Equifax data shows mortgage delinquencies climbed double digits in most provinces. Ontario is a bit of an exception, but not in the good way—the province saw its delinquency rate surge 135% higher. The agency warns the issue is getting worse for young adults, as they’re observing this segment of mortgage borrowers increasingly struggle with their credit cards too. | | Here's the Inflation Breakdown for February 2024 - in One Chart |
Consumers continued to contend with higher inflation in February, according to new government data. The consumer price index — an inflation measure that tracks changes in the prices of consumer goods and services over time — rose 3.2% from a year ago and 0.4% in February, according to monthly data released by the Bureau of Labor Statistics. | | | | The Green Effect Podcast!
| Finance, life, business and everything in between! Brand new content with just myself gabbing away about the real estate world, personal stuff going on in my life, stories as an investor, and whatever else! Come with me on the journey inside my head. | | BLOG POST: Green Thoughts | Most Recent Blog:Navigating the Risks: The Perils of Condition-Free Offers in the Canadian Housing Market
In the competitive arena of the Canadian housing market, the pressure to stand out as a buyer can lead to the decision to present an offer to purchase a home without any conditions. This strategy, often employed in hot markets to make an offer more attractive to the seller, involves significant risks that potential buyers must carefully consider. This blog post explores the potential pitfalls of submitting a condition-free offer and offers guidance on how to navigate this high-stakes approach. .
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