MillennialMoron Friday Update, February 9, 2024

The long-awaited sideways boi has finally arrived Today we cover: Ontario private landlord collapse Toronto Market December Stats Realtor Fee Class Action Lawsuit Goes National Bank of Canada Liquidity Operations HSBC Whistleblower on “Fake Chinese Income” Mortgages The MillennialMoron Friday Updates are a brief weekly news digest with commentary on Canadian housing, real estate, and economics stories. Support MillennnialMoron: Patreon: / millennialmoron Buy Me a Coffee Sources: Three Ontario landlords put into bankruptcy protection on $144M in debt (CBC) Canadian office space operator takes $500M writedown (Reuters) Development receiverships on the rise (CBC) Risk of mortgage defaults puts spotlight on private lenders (Reuters) TRREB Market Watch (TRREB) CREA Home Price Index tool (CREA) Toronto’s real estate market roars back to life (Toronto Star) Legal battle over real estate commissions goes national (Financial Post) US real estate agents found liable for $ in class action (Financial Post) Canada restarts receiver general cash balance auctions (Bank of Canada) Bank of Canada assets and liabilities (Bank of Canada) Derek Holt on BoC measures and other topics (Scotiabank) Canada 5-year bond yields: BAX market implied interest rate expectations: “Fake Chinese Income” Mortgages fuel Toronto real estate bubble (The Bureau) Up to 1 in 5 Canadian homeowners committing mortgage fraud (Better Dwelling) The “Vancouver Model” of money laundering: Cullen Commission report on public inquiry into money laundering in BC (Cullen Commission) FINTRAC report on Project Athena investigating underground banking schemes (Government of Canada)