Time for your cheat sheet on this week’s top stories.
Canadian Real Estate
Canadians Permanently Leaving Hits The Highest Level Since 1967
Canadian policymakers were so focused on growing the temporary population that they missed the citizen outflow. Emigration, the act of a citizen or permanent resident leaving for good, ramped up in Q4 2024. The year ended with a whopping 106.1k emigrants leaving in 2024, the highest volume since 1967. The number is also drastically under-reported since it depends on people declaring their absence. The country has quietly acknowledged an issue that results in significant overcounts of immigrants that remain in the country, but has yet to be acknowledged in its population estimates.
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Over 1 In 14 People In Canada Are Non-Permanent Residents, 2x In 4 Years
Canada’s population growth is slowing, but it may be hard to notice since it’s still incredibly high. The national stats agency estimates the population grew 0.2% in Q1 2025, less than a fifth of peak growth in 2023. The reduction is part of a planned policy to reduce temporary residents, such as international students, amidst backlash from the crushing growth seen in recent years. However, with an economy that quickly restructured to focus on rapid immigration, it remains to be seen if policymakers can stick to that plan.
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Canadian Inflation Is About To Smash Through The BoC’s Ceiling
Canadian inflation is heating up much faster than the central bank expected. Just one week after the Bank of Canada (BoC) slashed rates providing inflation stimulus, Stat Can reported CPI is rapidly surging. The current pace saw the 3-month average rise at nearly 3x the central bank’s target inflation rate, and it’s set to accelerate when the effect of the sales tax holiday wears off next month. That would place the growth rate firmly above the central bank’s tolerance level, undermining its ability to respond to growing tariff threats.
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Canadian Real Estate Prices Rise, Sales Make The Sharpest Drop In Years
Canadian real estate is seeing more inventory, fewer sales, and… higher prices? Um, okay. Canadian Real Estate Association (CREA) data shows home sales plunged in February. The unusually sharp drop led to one of the weakest demand balances on record, further easing inventory pressure. Despite being one of the most well-supplied markets in recent history, prices also jumped aggressively. The BoC’s Deputy Governor warned policymakers against changing the mortgage market, which would result in this exact scenario. Mission accomplished.
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