| | | | | | | | 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. | | | | | | | Oil Price Surges 4% as Attack on Israel Prompts Fears of Expanding Middle East Violence | Oil prices jumped and stock markets around the world mostly slumped after deadly attacks by Hamas from the Gaza Strip prompted Israel to declare war. The price of a barrel of West Texas Intermediate oil jumped by almost $5 to more than $86 US a barrel on Monday, mostly on concerns that the volatile situation could ensnare more countries in the region. | | Canadian Mortgage Delinquencies Are Climbing, But Stress Is Greatly Overstated | Canadian mortgage rates are climbing and may be creating a little more stress for borrowers. Equifax data reveals mortgage delinquencies have climbed from record lows in Q2 2023. That may present some concerns, until some context is provided. Yes, the delinquency rate is climbing from lows, but the rates remain much lower than they were pre-pandemic, when interest costs were less than half the current level. | | | | Proof Point: The Ranks of Canadian Entrepreneurs are Shrinking | The pandemic accelerated a decades-long decline in the self-employment rate. But whereas pre-pandemic declines were driven by industry factors – and concentrated in the goods sector – since the pandemic the declining share of self-employed workers has been broad based. | | Canada Heard Two Real Estate Narratives From The BoC, But Data Only Supports One |
Canadian interest rates are surging higher and setting up a hurdle for prices. So last week, when a former Bank of Canada (BoC) appeared on Bloomberg, his statement on prices being too high for current rates was clear. Most, including Bloomberg, paired this with the mortgage rate burden. Clearly, interest rates need to come down, right? That’s not so clear if you’ve been paying attention to the BoC’s previous research. More likely, high home prices are the ones getting dumped in this relationship.
| | | | 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:Considerations for Buying a Property to Use as an Airbnb in Canada
Are you considering buying a property in Canada with the intention of using it as an Airbnb rental? With the rise of the sharing economy and the popularity of short-term rentals, this can be a lucrative investment opportunity.
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