Time for your cheat sheet on this week’s top stories.
Canadian Real Estate
Canadian Unemployment Hits 7-Month High As Workers Outpace Jobs
Canada’s job market lost 18,000 jobs in April, and looking past the headline data reveals a worse picture. The country shed 47,000 full-time roles last month, shedding 111,000 in the first 4 months of the year. The unemployment rate also climbed 0.2 points to 6.9%, marking a 7-month high. The problem is amplified by a problem that’s become unique to Canada in recent years—a workforce that continues to expand faster than the country is adding jobs.
Canada Will Soon Spend 1 in 3 Dollars on Debt & Elderly Benefits
The mistakes of Canada’s fiscal past have returned to haunt its future. The latest Parliamentary Officer report shows the country will spend over 1 in 10 dollars (10.7%) of federal revenue on just interest payments for its debt in 2026-27, forecast to hit 13.2% by 2030-31 budget. At the same time, elderly benefits now account for over 1 in 6 dollars spent and are set to climb further. Just two commitments will consume 27.7% of revenue, expected to hit (35.2%) by 2030. It will be challenging to maintain fiscal stability when just two line items take up over 1 in 3 dollars of federal revenue, to say the least. Here’s how that’s going to impact your ability to borrow money.
Nearly 1 In 6 Canadian Millennials Still Live With Their Parents
Canada’s nations agency estimates nearly 1 in 6 (16.3%) of Canadian Millennials aged 25 to 39 lived with their parents in 2021, double the rate of Boomers when they were that age. The issue is observed across Canada’s major cities, but the problem is worse in the country’s most expensive cities—nearly half (48.6%) of Toronto’s Millennials under 30 live at home, more than doubling the share of Boomers at the same age. Canada’s young adults aren’t just struggling to get ahead—they’re facing major hurdles before even starting the race.
Vancouver Real Estate Prices Hit 56-Month Low, Inventory 38% Above Normal
The price of a typical home across Greater Vancouver fell to $1,098,000 in April, a 56-month low. It arrived with the third-weakest sales for the month in 25 years, and inventory 37.9% above the 10-year average. While the board’s experts noted detached homes continue to outperform, the data they presented revealed the exact opposite.
Recovery or Trap? Toronto Real Estate Prices & Sales Rise, But Still Weak
Greater Toronto home prices rose 0.2% in April to $944,100, marking a third month of price increases. It wasn’t due to tight demand though, with it being the third-weakest April in 16 years while active inventory sits at the second-highest mark over the same period. The weak demand balance is technically still a buyer’s market where prices are expected to fall, leaving us questioning whether recent price increases are noise or a market starting to find its footing.
Canadian Wealth Inequality Soars As Rich Buy Stocks, Poor Take Out Mortgages
Canadian average household net worth increased by 5.3% 21.08 million in Q4 2025, but the gap between its rich and poor widened. The top 20% of Canadians saw their net worth rise 6.0% to an average of $3.54 million, gaining 120x more than the bottom 40%, who gained just 2.1%. The gap appears to be where money is being allocated, as the country’s richest saw their wealth boosted primarily by stocks, while those beneath scooped up mortgage debt.
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