Reporting on Sherry
August 17, 2020
Category: About Sherry Articles Media Reporting on Sherry
Record-Setting Canadian Housing Market in July
Canadian Housing Market Very Strong in July Today’s release of July housing data by the Canadian Real Estate Association (CREA) showed a blockbuster July with both sales and new listings hitting their highest levels in 40 years of data. This continues the rebound in housing that began three months ago. National home sales rose 26%…
August 12, 2020
Category: About Sherry Articles Media Reporting on Sherry
COVID Supercharges Canadian Housing– Yet CMHC Still Gloomy
Pandemic Triggers Red-Hot Summer Housing Market We will get the full story on July housing in Canada when the Canadian Real Estate Association releases its July data in the next few days, but local real estate boards have reported a robust July market. Even in Calgary, year-over-year sales have jumped by double digits. Sales in…
August 7, 2020
Category: About Sherry Articles Media Reporting on Sherry
Great News On The Job Front In July
Better-Than-Expected Canadian Jobs Report in July Shows Economy’s Resilience The July Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions as of the week of July 12 to 18. Although public health restrictions had been substantially eased in most parts of the country—with the exception of some regions of Ontario, including Toronto—some…
August 7, 2020
Category: About Sherry Articles Media Reporting on Sherry
New Mortgage Professionals Canada Report
Dr. Sherry Cooper was recently featured in the Mortgage Broker News in an article discussing the Rapidly Evolving Expectations in the Housing Market, a New Mortgage Professionals report based on a survey of Canadian consumers. Among non-homeowners, the expectation of buying in the next year has doubled, from 7 per cent at the end of…
July 31, 2020
Category: About Sherry Articles Media Reporting on Sherry
Canada’s Economy Is Outperforming the US
Canadian Economy Recovers Almost Half Its COVID-Induced Loss in May and June The Canadian economy bounced back sharply in May and June as Canadian provinces eased lockdown measures. GDP expanded 4.5% in May, and activity in June was even more robust at an estimated 5% rise. Cumulatively, GDP rose 10% in May and June, after…
July 15, 2020
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Bank of Canada Holds Rates Steady and Continues QE Program
Bank of Canada Holds Target Rate Steady Until Inflation Sustainably Hits 2% The Bank of Canada under the new governor, Tiff Macklem, wants to be “unusually clear” that interest rates will remain low for a very long time. To do that, they are using “forward guidance”–indicating that they will not raise rates until capacity is…
July 15, 2020
Category: About Sherry Articles Media Reporting on Sherry
Canadian Home Sales Up Again in June
Housing Market Continued Its Rebound in June and Early July There was more good news today on the housing front. Home sales rebounded by a further 63% in June, returning them to normal levels for the month–150% above where they were in April when the pandemic-induced lockdown paralyzed the economy (see chart below). Data released this morning…
July 10, 2020
Category: About Sherry Articles Media Reporting on Sherry
Strong June Jobs Report in Canada
Robust Jobs Report in June, Much Better Than Expected The June Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions as of the week of June 14 to June 20. By that time, public health restrictions had been eased in most parts of the country. Tighter restrictions remained, however, in much of southwestern…
July 8, 2020
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Fiscal Snapshot: Much Larger Deficit and Debt than Expected
Astonishing Fiscal Red Ink Announced Today Finance Minister Bill Morneau presented his fiscal snapshot this afternoon. Most economists were expecting a budget deficit of roughly $260 billion. Instead, the government announced a deficit for the fiscal year 2020-21 of $343.2 billion–close to 16% of GDP. That compares to the $34.4 billion deficit projected before the…
July 6, 2020
Category: About Sherry Articles Media Reporting on Sherry
Bank of Canada Business Sentiment Lowest Since 2009
Canadian Business Sentiment Is Negative The Bank of Canada released its Summer Business Outlook Survey (BOS)* this morning, covering an interview period from mid-May to early June. In all provinces and all sectors, the sentiment was hugely negative owing to the impact of the pandemic and falling oil prices. Since the previous survey, conducted before concerns about…