December payroll data is out - still going downhill
(www.adp.ca)
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It was green last month.
If you go to the bottom of the website and click on historical data, it takes you to an excel sheet that fully breaks out all their payroll data over the past 5 years. This time last year there was 15 million payrolls. Now we are barely at 7 million payrolls. More then half the county is unemployed.
Mortgage rates are at historic lows. You can get a 5 year fixed with 1.67% interest, or 5 year variable for 0.99% now.
Those who have the means can buy, and it’s never been a better time to buy. At the other end, those who have been renting and lost their jobs, they are pretty protected from being evicted for not paying rent. Lots of stories of renters that stoped paying in March and are still in their rentals because of Ontario government policy. Absolutely terrible for the landlords, but the leeches are fine with their new ps5 bought with cerb.
Housing prices are driven by money laundering, mainly by foreign nationals.