Americas Wholesale Banking Growth and M&A Advisory
Housing Market
Population Growth
2.0
annual % change
Canada
Euro Area
Japan
France
United States
0.90
United Kingdom
Italy
0.80
1.5
0.70
1.0
0.5
0.0
0.60
0.50
0.40
Housing Market Supply Conditions
Ratio of total home completions on 18-
month rolling basis relative to
population change
1984-present avg.
84 87 90 93 96 99 02 05
Sources: Scotiabank Economics, Statistics Canada.
0.30
-0.5
08 09 10 11 12 13 14
Sources: Scotiabank Economics.
15
16 17 18
19
20 21
100
80
50
8 2 2 2 2 0 0
Housing: Sales-to-Listings Ratio
sa sales-to-new listings ratio, %
08
11
14
17
20
Government Support of Households
2.5
arrears rate, %
2.0
1.5
1.0
0.5
55
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.
0.0
20
88 90 92 94 96 98
00
02
04
06
08
10
12
14
16
18 20
Sources: Scotiabank Economics, CREA.
65
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