Latest news with #Moody's Analytics
Yahoo
4 days ago
- Business
- Yahoo
Posthaste: Condo prices in the suburbs are cratering
Canada's condo market has taken a beating recently, but nowhere more so than in the suburbs. Prices in communities surrounding Toronto such as Halton Hills, Ont., have plummeted by more than 50 per cent from their peak, says a report by Moody's Analytics. Brampton, Mississauga and Oakville have also suffered 'significantly' steeper losses than the City of Toronto itself. White Rock, B.C. and West Vancouver have seen peak-to-trough declines of 30 to 40 per cent compared with the national condo price drop of about 8 per cent. 'Given the booming supply, proximity is commanding a premium, and periphery markets are giving back their pandemic gains,' said Brendan LaCerda, director of economic research at Moody's. During COVID-19 lockdowns, prices soared in regions surrounding Toronto and Vancouver, as remote work prompted an exodus from downtown cores. In response, developers built more, and supply boomed, eroding the price premium on suburban condos, said the report. Since Canada's housing market peaked in mid-2022, the performance of multifamily housing markets and that of single-family homes has diverged sharply, said Moody's. Both markets plunged when mortgage rates began to rise, but after bottoming out a year later, the single-family home market has made steady gains, while the multi-family market has suffered further declines. By the first quarter of 2025, condo sales in the Toronto area had dropped 75 per cent from their peak in mid-2022, said Canada Mortgage and Housing Corporation in a separate report. Months of inventory for pre-construction condominiums here hit a record high, 14 times higher than in 2022. Moody's said the outlook in the short run depends on how well the condo market can absorb the new inventory. Pre-construction sales were driven by low interest rates, but as these are reset at a higher rate, distressed borrowers could be forced to sell, putting more pressure on prices. 'With a wave of new supply poised to hit the market and interest rates remaining elevated, the downward trend in condo prices is likely to endure,' said LaCerda. to get Posthaste delivered straight to your almighty American consumer seems to be taking a breather, and tariff price hikes may be to blame. After shrinking in May, U.S. real personal spending rose just 0.1 per cent in June, said Sal Guatieri, a senior economist with BMO Capital Markets. 'Services spending was soft, but the real standout was a 0.5 per cent drop in durables even after a previous large decline,' he said. Durable goods have been hit by new duties, and as BMO's chart shows, prices have climbed 3.2 per cent annualized over the past five months, the biggest increase in nearly three years. Household appliances spiked 16 per cent, computing equipment 14 per cent and home furnishings 5 per cent. 'Further price increases are expected, which could depress consumption in the second half of the year,' said Guatieri. The voting period for unionized Air Canada flight attendants on a strike mandate ends today. Greater Vancouver realtors are expected to release July housing data today, followed by the Toronto Regional Real Estate Board Wednesday. Today's Data: Canada International merchandise trade, United States trade balance Earnings: Suncor Energy Inc., Pfizer Inc., Great-West Lifeco Inc., Pet Valu Holdings Ltd., Molson Coors Beverage Co. 'The mood is dour': Threat of trade deal delay weighs on some sectors more than others Bank of Canada offers no lifeboats for drowning mortgagors How does John decide whether to sell or lease his grain farm before he retires next spring? It's mid-summer, and the markets — and the business world — just get weirder and weirder. From the meme stock revival to Donald Trump's feud with Fed chair Jerome Powell, investing pro Peter Hodson looks at some of the summer's more bizarre trends. Read on Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). McLister on mortgages Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Financial Post on YouTube Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Why Canada's job market might be too good to be true Canadian businesses cautiously optimistic as they absorb tariff challenges Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Posthaste: Condo prices in the suburbs are cratering
Canada's condo market has taken a beating recently, but nowhere more so than in the suburbs. Prices in communities surrounding Toronto such as Halton Hills, Ont., have plummeted by more than 50 per cent from their peak, says a report by Moody's Analytics. Brampton, Mississauga and Oakville have also suffered 'significantly' steeper losses than the City of Toronto itself. White Rock, B.C. and West Vancouver have seen peak-to-trough declines of 30 to 40 per cent compared with the national condo price drop of about 8 per cent. 'Given the booming supply, proximity is commanding a premium, and periphery markets are giving back their pandemic gains,' said Brendan LaCerda, director of economic research at Moody's. During COVID-19 lockdowns, prices soared in regions surrounding Toronto and Vancouver, as remote work prompted an exodus from downtown cores. In response, developers built more, and supply boomed, eroding the price premium on suburban condos, said the report. Since Canada's housing market peaked in mid-2022, the performance of multifamily housing markets and that of single-family homes has diverged sharply, said Moody's. Both markets plunged when mortgage rates began to rise, but after bottoming out a year later, the single-family home market has made steady gains, while the multi-family market has suffered further declines. By the first quarter of 2025, condo sales in the Toronto area had dropped 75 per cent from their peak in mid-2022, said Canada Mortgage and Housing Corporation in a separate report. Months of inventory for pre-construction condominiums here hit a record high, 14 times higher than in 2022. Moody's said the outlook in the short run depends on how well the condo market can absorb the new inventory. Pre-construction sales were driven by low interest rates, but as these are reset at a higher rate, distressed borrowers could be forced to sell, putting more pressure on prices. 'With a wave of new supply poised to hit the market and interest rates remaining elevated, the downward trend in condo prices is likely to endure,' said LaCerda. to get Posthaste delivered straight to your almighty American consumer seems to be taking a breather, and tariff price hikes may be to blame. After shrinking in May, U.S. real personal spending rose just 0.1 per cent in June, said Sal Guatieri, a senior economist with BMO Capital Markets. 'Services spending was soft, but the real standout was a 0.5 per cent drop in durables even after a previous large decline,' he said. Durable goods have been hit by new duties, and as BMO's chart shows, prices have climbed 3.2 per cent annualized over the past five months, the biggest increase in nearly three years. Household appliances spiked 16 per cent, computing equipment 14 per cent and home furnishings 5 per cent. 'Further price increases are expected, which could depress consumption in the second half of the year,' said Guatieri. The voting period for unionized Air Canada flight attendants on a strike mandate ends today. Greater Vancouver realtors are expected to release July housing data today, followed by the Toronto Regional Real Estate Board Wednesday. Today's Data: Canada International merchandise trade, United States trade balance Earnings: Suncor Energy Inc., Pfizer Inc., Great-West Lifeco Inc., Pet Valu Holdings Ltd., Molson Coors Beverage Co. 'The mood is dour': Threat of trade deal delay weighs on some sectors more than others Bank of Canada offers no lifeboats for drowning mortgagors How does John decide whether to sell or lease his grain farm before he retires next spring? It's mid-summer, and the markets — and the business world — just get weirder and weirder. From the meme stock revival to Donald Trump's feud with Fed chair Jerome Powell, investing pro Peter Hodson looks at some of the summer's more bizarre trends. Read on Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). McLister on mortgages Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Financial Post on YouTube Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Why Canada's job market might be too good to be true Canadian businesses cautiously optimistic as they absorb tariff challenges
Yahoo
5 days ago
- Business
- Yahoo
Posthaste: Condo prices in the suburbs are cratering
Canada's condo market has taken a beating recently, but nowhere more so than in the suburbs. Prices in communities surrounding Toronto such as Halton Hills, Ont., have plummeted by more than 50 per cent from their peak, says a report by Moody's Analytics. Brampton, Mississauga and Oakville have also suffered 'significantly' steeper losses than the City of Toronto itself. White Rock, B.C. and West Vancouver have seen peak-to-trough declines of 30 to 40 per cent compared with the national condo price drop of about 8 per cent. 'Given the booming supply, proximity is commanding a premium, and periphery markets are giving back their pandemic gains,' said Brendan LaCerda, director of economic research at Moody's. During COVID-19 lockdowns, prices soared in regions surrounding Toronto and Vancouver, as remote work prompted an exodus from downtown cores. In response, developers built more, and supply boomed, eroding the price premium on suburban condos, said the report. Since Canada's housing market peaked in mid-2022, the performance of multifamily housing markets and that of single-family homes has diverged sharply, said Moody's. Both markets plunged when mortgage rates began to rise, but after bottoming out a year later, the single-family home market has made steady gains, while the multi-family market has suffered further declines. By the first quarter of 2025, condo sales in the Toronto area had dropped 75 per cent from their peak in mid-2022, said Canada Mortgage and Housing Corporation in a separate report. Months of inventory for pre-construction condominiums here hit a record high, 14 times higher than in 2022. Moody's said the outlook in the short run depends on how well the condo market can absorb the new inventory. Pre-construction sales were driven by low interest rates, but as these are reset at a higher rate, distressed borrowers could be forced to sell, putting more pressure on prices. 'With a wave of new supply poised to hit the market and interest rates remaining elevated, the downward trend in condo prices is likely to endure,' said LaCerda. to get Posthaste delivered straight to your almighty American consumer seems to be taking a breather, and tariff price hikes may be to blame. After shrinking in May, U.S. real personal spending rose just 0.1 per cent in June, said Sal Guatieri, a senior economist with BMO Capital Markets. 'Services spending was soft, but the real standout was a 0.5 per cent drop in durables even after a previous large decline,' he said. Durable goods have been hit by new duties, and as BMO's chart shows, prices have climbed 3.2 per cent annualized over the past five months, the biggest increase in nearly three years. Household appliances spiked 16 per cent, computing equipment 14 per cent and home furnishings 5 per cent. 'Further price increases are expected, which could depress consumption in the second half of the year,' said Guatieri. The voting period for unionized Air Canada flight attendants on a strike mandate ends today. Greater Vancouver realtors are expected to release July housing data today, followed by the Toronto Regional Real Estate Board Wednesday. Today's Data: Canada International merchandise trade, United States trade balance Earnings: Suncor Energy Inc., Pfizer Inc., Great-West Lifeco Inc., Pet Valu Holdings Ltd., Molson Coors Beverage Co. 'The mood is dour': Threat of trade deal delay weighs on some sectors more than others Bank of Canada offers no lifeboats for drowning mortgagors How does John decide whether to sell or lease his grain farm before he retires next spring? It's mid-summer, and the markets — and the business world — just get weirder and weirder. From the meme stock revival to Donald Trump's feud with Fed chair Jerome Powell, investing pro Peter Hodson looks at some of the summer's more bizarre trends. Read on Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). McLister on mortgages Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Financial Post on YouTube Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Why Canada's job market might be too good to be true Canadian businesses cautiously optimistic as they absorb tariff challenges
Yahoo
16-07-2025
- Business
- Yahoo
Wholesale Inflation Flattens in June as Companies Cope With Tariffs
Wholesale prices were unchanged in June, surprising economists who were expecting to see a modest increase. The Producer Price Index also showed wholesale inflation slowed annually. Economists said that the data showed that companies and industries reacted to higher tariffs in different inflation showed a surprising slowdown in June. Wholesale prices in June didn't rise from May's levels, according to the Producer Price Index released by the Bureau of Labor Statistics Wednesday. The flat PPI reading was the result of dropping services prices, which fell slightly in June from the month prior, offsetting a 0.3% increase in the price of goods. Wholesale price growth slowed on a yearly basis, growing 2.3% higher than the same time last year. That's lower than the 2.7% recorded in May. Economists are on the lookout for signs that President Donald Trump's tariffs are pushing up prices as expected. Economists surveyed by The Wall Street Journal and Dow Jones Newswire expected a 0.2% monthly PPI increase. While the headline numbers were tame, some details of the report suggest tariffs are putting pressure on producers, economists said. "Overall, the combination of rising input costs and weakening demand for certain services paints a complex picture, consistent with the idea that aggressive trade policies are beginning to drive up costs while simultaneously dampening demand," wrote Moody's Analytics Economist Matt Colyar. While the data showed that the overall impact of tariffs on inflation has so far been mild, Nationwide Financial Markets Economist Oren Klachkin said the report showed that companies and industries were taking different approaches in handling the import taxes. 'With many strategies at companies' disposal, the pass-through may be lower than initially anticipated,' Klachkin wrote. 'Some industries command pricing power while others look to be absorbing the levies.' Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
