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Article content Canadian businesses are sitting on a record cash pile, but whether and how they spend it may determine the shape of the post-pandemic recovery, according to a recent report from the Canadian Imperial Bank of Commerce. In the report, CIBC deputy chief economist Benjamin Tal estimated that businesses are currently sitting on $130 billion in excess cash, a level “above and beyond” what would have been the case without the pandemic. We apologize, but this video has failed to load. Try refreshing your browser. Businesses are sitting on record $130B in excess cash, but will the...

Canada Grapples With Familiar Housing Bubble as Demand Surges Amid COVID Support Mortgage stress test still a powerful tool for cooling down hot market, says economist Canada’s red-hot housing market is once again drawing calls for actions to cool it off lest the “bubble” bursts and creates grief across the economy. But given the extraordinary federal pandemic support and the Bank of Canada lowering interest rates to near zero to prevent a deep recession, a worrisome rise in house prices driven by a surge in demand was widely predicted. The number one problem plaguing the housing market...

Article content Rock-bottom interest rates that have helped prop up the Canadian economy during the pandemic are also helping fuel frenzied activity in the housing market, putting policymakers and regulators in something of a bind when it comes to what they can — or should — do to address the red-hot sector. Housing prices have been surging in recent months, driven up by a combination of those record low rates, increased household savings and a desire for more space. And while that may be good for owners, it makes for a growing challenge for buyers, who are taking on larger debt burdens t...

Article content With the price of residential real estate skyrocketing across some Canadian markets, especially in the greater Toronto area (GTA), it’s no wonder real estate investors have been joining the buying frenzy in recent months. Many are hoping to cash in on significant appreciation, even if it means absorbing hundreds of dollars of short-term monthly losses, as the rents landlords can charge can’t keep up with monthly carrying costs. According to new research on the GTA’s condo investment landscape by CIBC’s deputy chief economist Benjamin Tal, about 35 per cent of investors...

The Globe and Mail Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file ... This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer Mark Blinch/The Globe and Mail Canada’s bank regulator said it will take another crack at changing the mortgage stress test that determines whether borrowers qualify for a home loan. The Office of the Superintendent of Financial Institutions (OSFI) said it will issue a “new consultation” on Thursday, as economists and some...