According to the latest forecast by Royal Bank of Canada, the country will probably face a moderate and short-term recession in 2023, as the economy is suffering from growing inflation, higher interest rates, and issues in the labour market. “This recession will be moderate...

Last month, the Greater Toronto Area real estate market felt one more hit as more buyers decided to wait and see what happens next amid growing borrowing rates. According to the Toronto Regional Real Estate Board (TRREB), home sales were down by 41.4% on...

Real estate markets are cooling down around the world as central banks raise interest rates in attempt to restrain inflation. Such changes bring unpleasant memories of the largest housing crash this century, that happened in 2008. However, according to Neil Shearing, chief economist of...

The latest report by TD says real estate sales in Canada may go down by almost a quarter in 2023 and remain low even during the next year. According to TD Economics, the bank has “significantly” reduced its home sales and price forecasts compared to March,...

Following a strong beginning of 2022, Canada’s economic growth slowed down slightly in May, restrained by a decrease in oil production. According to Statistics Canada’s preliminary data, gross domestic product was down by 0.2% last month, as output fell in oil and gas, manufacturing...