AGP Executive Report
Last update: 10 hours agoMortgage Pressure: The share of Canadian homeowners seriously behind on mortgage payments has doubled from its 2022 low, reaching 0.29 per cent in September. Canada still has the G7’s second-lowest arrears rate, but the sharp rise is a warning sign. Housing Market: Home sales fell in September as mortgage rates rose, and CREA has cut its resale forecast for the third time this year. Tariff and rate uncertainty are also weighing on the market. Construction: September housing starts rose from August, but CMHC warns affordability gains are at risk, while commercial construction intentions are putting pressure on the non-residential sector. Commercial Real Estate: Cominar plans to sell non-core assets to Slate for $1.14 billion, a major portfolio move as investors reposition. Rental Supply: UBC’s student-housing shortfall remains acute: it has 14,000 beds for 61,000 students, with just one major project in the pipeline.
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