Digital Banking Strength and Strategic Funding
Canada: Housing Market Strength
Strong demand continues to confront insufficient supply
G7 Population Growth
2.0
annual % change
1.5
1.0
0.5
0.0
Housing Market is Historically Undersupplied
Canada
United States
Euro Area
0.9
Ratio of total home completions on 18-month rolling
basis relative to population change
United Kingdom
0.8
0.7
mm
1982-pres. avg.
0.6
0.5
0.4
M
-0.5
08
09
10
11
12
13
14
15
16
17
18
19
20
0.3
T
ד.
T
Sources: Scotiabank Economics.
84
87
90
93
96
99 02
05
08
11
14
17
20
90
80
70
60
50
50
10
40
Listings Falling More Rapidly than Sales
sa sales-to-new listings ratio, %
Sellers' Market
Buyers' Market
Sources: Scotiabank Economics, Statistics Canada.
Government Assistance Supporting Households
2.5
%
2.0
1.5
1.0
0.5
55
30
04
06
08
10
12
14
16
18
20
0.0
20
Sources: Scotiabank Economics, CREA.
Hypothetical arrears rate on mortgages simulated by
BoC for 19% fall in GDP in 2020
Arrears without existing household
support measures
Arrears with existing support measures
21
22
Sources: Scotiabank Economics, Bank of Canada Financial System Review.
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