Steve Saretsky
@SteveSaretsky
Real Estate aficionado. Vancouver Realtor & investor. Host of The Loonie Hour podcast.
Uncovering one of the largest white collar frauds in Canadian history with @BenRabidoux.
Pre-sale condo starts are collapsing as rental construction surges. CMHC is effectively underpinning the entire residential construction sector.
Canada turning full commie. @IceCapGlobal
Opinion: Let’s free ourselves of the U.S. and forge closer ties with China theglobeandmail.com/business/comme…
Need this chart for Canada.
The Problem with Urban Planning: a professional silo is gatekeeping our nation's growth. My new essay w/ @inflectionptswk The problem at the heart of planning is not political—it's professional. 🧵
Imagine the uproar if a Conservative government did this.
Number of federal public service jobs could drop by almost 60,000, report predicts ctvnews.ca/politics/artic…
The housing decelerator fund has proven to be nothing but a tax heist. Dollars for zoning, even if the zoning renders most development uneconomical.
Government debases the currency, which inflates the cost of everything and then taxes you on it.
New construction home sales are tanking. They are running as much as 86% below their 2020-2024 average. The construction boom is over.
World’s tallest passive house. There were signs…
SCOOP: A receivership application has been filed against the 60-storey CURV luxury condo and rental project in Vancouver. Lender is a syndicate that includes RBC, BMO, and Meridian Credit Union. Debt is $91M. #vanRE storeys.com/curv-vancouver…
Another 11,000 rental units started construction in June across Canada. That makes 33,000 in Q2 compared to just 20,000 TOTAL population growth in most recent quarter. Overbuilding in the rental space is getting crazy
No surprise here, only how long it took.
SCOOP: A receivership application has been filed against the 60-storey CURV luxury condo and rental project in Vancouver. Lender is a syndicate that includes RBC, BMO, and Meridian Credit Union. Debt is $91M. #vanRE storeys.com/curv-vancouver…
No more rate cuts priced in for the Bank of Canada this year.
While downside risks to economic growth persist, recent data is consistent with our base-case view that the Bank of Canada will not cut interest rates again this cycle, having opted to skip cuts at its last two meetings. RBC doubles down. No more cuts.
Inflation across the CPI basket expanded in June, with approximately 55% of the components showing annualized three-month inflation rates exceeding 3%. The broadest inflationary pressure observed so far in 2025.
In other words, pre-sale condos don’t work today so we’ll keep jamming rentals through CMHC until the dam breaks.
In the past 90 days alone, the City of Vancouver has received rezoning applications for 4,062 market rental units. To put that in perspective, that's more than the entire three year period of 2017-2019.
Nothing stops this train.
The Carney government is poised to post a massive deficit of more than $92 billion during this fiscal year, almost double what was forecast just a few months ago, a new report says nationalpost.com/news/canada/wi…
The crypto pump is here. See you on the moon, comrades! 🫡
Random number generator strikes again
#BREAKING: Canada adds surprise 83,000 jobs in June, driving unemployment rate down to 6.9% toronto.citynews.ca/2025/07/11/une…