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CMI Housing Affordability Watch: Looking Back to See the Way Forward – Part 2
As discussed in part one, studying past housing policies can provide valuable insight into potential solutions for the current housing crisis. Canada’s significant change in approach to housing policy throughout the 1970s – another period when affordability concerns and rental market pressures captured public attention – offers particularly useful lessons. During this time, governments at…
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CMI Housing Affordability Watch: Looking Back to See the Way Forward – Part 1
When looking at what could be done to improve housing, it’s helpful to revisit past efforts. This examination can offer valuable insights into potential policy recommendations, some of which may involve repackaging previously attempted policies from years ago. During the 1970s Canada underwent a significant shift in housing policy orientation. The shift entailed a substantial…
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Hitting the Pause Button
Last week, the Bank of Canada held its policy rate at 5%. The decision was expected given slowing in the economy and modest improvement to core inflation measures. The Bank is likely at the end of its tightening cycle. How soon it eases rates – and how low will rates go in the near to…
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Introducing CMI’s Housing Affordability Watch
CMI monitors the latest developments and offers insights on solutions to Canada’s housing affordability crisis Housing affordability has taken center stage in policy debates. Over the past 20 years, governments have allocated significant resources to first-time home buyers under the façade that it will make housing more affordable. The beneficiaries of these programs are no…
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Beware the Bond Market – Part 2
Financial markets often provide valuable insights into the future trajectory of the economy, as they reflect the collective wisdom of numerous investors who invest based on their economic forecasts. One commonly observed indicator in this context is the yield curve. The treasury yield curve is a visual representation of the cost associated with the federal…
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Beware the Bond Market – Part 1
In the 1990s, Democratic political adviser James Carville said: “I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would like to come back as the bond market. You can intimidate everybody.” Not that long ago…
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Labour Market Strength Raises Uncertainty on Rate Hikes
Friday’s unexpectedly strong US payroll numbers raise uncertainty about whether the Fed will need to raise short-term rates one more time in either November or December. Non-farm payrolls increased by 336,000, surpassing the consensus estimate of 170,000, and the numbers for July and August were adjusted upwards by 119,000 jobs. The unemployment rate held steady…
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