Steve Saretsky

Uncovering one of the largest white collar frauds in Canadian history with @BenRabidoux.

@MPelletierCIO @YVRHousing Interesting. I’m hearing the opposite. Lots are sitting, rents falling big time. I’m sure there are exceptions

Calgary single family housing market on fire. Multiple offers, gone in hours if priced fairly. Know someone sold $2mm house with multiple offers within hours. Amazing. $100 oil?

@michael_vogel1 That would be sweet

I know Squamish is one of the fastest growing cities in Canada. There's got to be a strong economic & housing case to be made, even if running the line itself is unprofitable. What are your thoughts @SteveSaretsky

Vancouver ➡️ Whistler passenger rail petition: c.org/7LK9CTnJ5S The BC Liberal Gov shamefully sold BC Rail in 2003. Taking back the soon-to-be (partly) abandoned tracks is a total no-brainer. If these lines aren't maintained after the July 2026 deadline, even the Rocky Mountaineer will be forced to cancel. A loss for our tourism economy. Will the @bcndp step up? It would be a common-sense win for the public, commuters, & regional economy.

@ExnerPirot @rorotrader Lol no kidding

For sure, what investor would trust a jurisdiction that approves and then cancels pipelines? 😒

🚨BREAKING🚨 American Tribes using DRIPA/UNDRIP/8.1 Interpretation Act to challenge approvals of major B.C. mining projects. This is happening on several fronts by several tribes. From Alaska to the Kootenays. The NDP government is desperate to keep this under wraps. ➡️Below is an Alaskan Tribe seeking to disrupt the ESKAY CREEK gold mine in the Northwest. Numerous references to DRIPA and Eby’s 8.1 amendment to the Interpretation Act as leverage to have projects cancelled. This is now a sovereignty crisis. We are being duped by the NDP. DRIPA may tear our province apart by US Tribes who are sophisticated and extremely well funded. A crisis the NDP is hoping to keep secret. The NDP’s answer to this crisis is to negotiate for 6 months about an unknown outcome. In the meantime, court cases pile up, trials will begin. I can’t believe what I’m witnessing. #cdnpoli #bcpoli

Brampton leads the country in mortgage delinquencies, running at more than double the rest of the country. Shocking... theglobeandmail.com/business/artic…

@BenRabidoux Just here for the replies

Resale inventory across Ontario is now falling on a y/y basis. Few saw this coming. It was my base case, and I think markets will tighten more than people expect this year even with weak sales. Prices will grind a bit lower from here, but it will take a lot to get another major leg lower IMO

Lol you don’t say.

This is potentially a huge deal for the Canadian oil sector: 550,000 Bbl/d of new takeaway capacity, with upsize potential to 900,000, and onstream if FID'd ~2029. If this goes ahead, the "pipe-dream" West Coast pipeline is dead, and with it so too the obsolete Pathways Project.

Employment in central Canada is getting smashed right now. You really don't get declining payrolls outside of recessions, but we've got steep declines in ON and QC right now offset by ongoing strength on the prairies. Will get a lot more of this if oil prices rip from here

“Private property rights are fundamental, this government will always protect them, this government fundamentally disagrees with the B.C. Supreme Court Cowichan decision.”

@VicStorm Economic update

@SteveSaretsky Interesting. Where is the info from??

The Federal Government intends to “Amend mortgage insurance rules to permit private mortgage insurers to offer multi-unit mortgage loan insurance on 5-8 unit residential properties to promote competition and offer lenders more choice.” Looks like they're trying to derisk CMHC from Alberta multiplexes.

@BobDEithKC Lol ratio’d

Land acknowledgements simply recognize the traditional territories of First Nations who lived here for thousands of years before other people settled in BC. It is respectful, honourable and appropriate. Scoring political points by vilifying reconciliation is horrible.

@davedebruyn In their economic report

@SteveSaretsky Source? Very interesting.

@integerhomes Pay the premium sir

@SteveSaretsky I want the cmhc deal just pass on the insurance

@Stef_McConnell Yes ?

@SteveSaretsky are the lenders foreclosing?

Mortgage arrears have hit a 12 year high in Canada. The number of bank mortgagors behind on their payments by 90+ days is at the highest level since February 2017.

@danielfoch @khzny 🥹

@SteveSaretsky @khzny It’s almost as though banks have new tools to keep delinquent mortgages from impacting the headline number 🤔 canada.ca/en/financial-c…

Subcontractor seeks nearly $1M for unpaid work on Vancouver Westbank tower, lawsuit claims dlvr.it/TSGdtc

I fully expect other cities to follow.