Send us a text

In this episode, Alex Pang and Alex Shanks cover a range of important economic updates, including Canada’s improving unemployment rate, inflation trends, banking scandals, and global financial news. Stay tuned for in-depth discussions on what these developments mean for Canadians and the broader financial landscape.

Topics Covered:

• Canada's Unemployment Rate and Wage Growth
• Inflation Trends
• Big Bank Predictions for Interest Rate Cuts
• TD Bank’s $3 Billion Fine in the US
• China’s Crackdown on Foreign Wealth
• Evergrande Real Estate Collapse
• Political Developments in Canada
• BC Election Update

Follow Our Hosts:

• Alex Pang
• Alex Shanks

Send us a text

In this episode, Alex Pang and Alex Shanks break down significant changes announced by the government regarding insured refinances, bond yields, and the volatile geopolitical climate.

Topics Covered:

• Government to Allow Insured Refinances at 90% Loan-to-Value (LTV) Starting January 2025
• Government Plans to Tax Vacant Land
• Bond Yields and Rate Predictions
• Geopolitical Unrest and Its Impact on Canada

Tune in for an in-depth discussion of these critical issues affecting homeowners, investors, and the Canadian housing market.

Follow Our Hosts:

• Alex Pang
• Alex Shanks

Send us a text

Episode Description:
In this episode of The Canadian Mortgage Show, Alex Pang and Alex Shanks discuss the latest updates impacting homebuyers and mortgage holders in Canada. From OSFI’s removal of the stress test for uninsured mortgage renewals to new government deals for affordable housing in BC, and the details of the $1.5M insured mortgage cap for first-time homebuyers—there’s a lot to unpack. They also answer listener questions in the Viewer Mailbag segment. Don’t miss out on the insights that could save you thousands on your next mortgage or home purchase!

Topics Covered:

1. OSFI Removes Stress Test for Uninsured Mortgage Renewals (Effective Nov 21st)
2. BC Government Partners with First Nations for Affordable Housing Development
3. Insured Mortgage Cap Raised to $1.5M for First-Time Homebuyers
4. BC’s Record-Low Fertility Rate & Canada’s Demographic Decline
5. Bill C-71 – Citizenship Act Amendment

Follow Our Hosts:

Alex Pang - ‪@alexpangmortgage‬
Alex Shanks - @alexshanksmortgagemanagement

Send us a text

In this episode of The Canadian Mortgage Show, Alex Pang and Alex Shanks break down the latest economic and political shake-ups in Canada. From rising unemployment to looming interest rate cuts, and the potential collapse of the Liberal-NDP coalition, we cover it all. What does this mean for the real estate market and Canadian homebuyers? Tune in to find out!

Topics Covered:
Unemployment Hits 6.6% in August:

• Canada’s unemployment rate rose to 6.6%, with youth unemployment spiking to 14.5%.
• Discussion on how mass immigration and low-wage Temporary Foreign Workers (TFWs) are driving this trend.
• Little evidence of widespread layoffs, but with rapid population growth and minimal economic expansion, is this a warning sign?

Interest Rate Predictions:

• The Bank of Canada is expected to continue cutting rates, with a 50 bps cut on the table for October 23rd.
• We could see 5-year fixed rates at 3.99% soon (insured) and conventional 5-year fixed with a 3-handle by spring or early summer.

Political Drama: Jagmeet Singh Ends Coalition with the Liberals:

• What does the collapse of the Liberal-NDP coalition mean for Canada?
• Pierre Poilievre accuses Singh of holding out just to qualify for his pension, leading to the nickname "Sellout Singh."
• The NDP’s sudden opposition to the carbon tax could trigger an election this fall.
• The Bloc Quebecois is already making demands in exchange for their support, asking for taxpayer money to flow to Quebec.

Follow Our Hosts:

• Alex Pang
• Alex Shanks

Send us a text

In this exciting fifth episode of The Canadian Mortgage Show, we welcome our very first guest, Hasan Juma, a well-known real estate expert. Together with Alex Pang and Alex Shanks, we dive deep into the housing crisis in British Columbia, exploring the key challenges in improving affordability, the role of immigration and infrastructure, and current trends in real estate investment. We also tackle the ongoing debate around rent control and its far-reaching implications.

Topics Covered:

• Challenges in Improving Housing Affordability in BC
• Role of Immigration and Infrastructure in Housing
• Current Trends in Real Estate Investment
• The Debate on Rent Control and Its Implications

Follow Our Hosts:

• Alex Pang
• Alex Shanks
• Guest: Hasan Juma

Send us a text

In this emergency episode of The Canadian Mortgage Show, Alex Pang and Alex Shanks dive into the breaking news surrounding Canada's new mortgage rules and the U.S. Federal Reserve's major rate cut.

We discuss the expansion of insured mortgages to 30 years for first-time buyers, the increase in the mortgage cap to $1.5M, and how these changes might drive debt and inflation higher. We also cover the latest on Canada's inflation rate and whether the Bank of Canada will follow the U.S. Fed in cutting rates.

Resources Mentioned:

• CMHC’s updated insured mortgage guidelines
• Bank of Canada monetary report 2024

Our Hosts:

• Alex Pang
• Alex Shanks

Send us a text

In this episode, we dive into the big issues facing Canada’s economy and housing market: from temporary foreign workers (TFWs) and rising unemployment rates to the sharp decline in new condo developments. We explore the long-term impact on Canada’s workforce and housing, and how government policies are shaping the future of employment and real estate.

Topics Covered:

1. Canada Cutting Back on Temporary Foreign Workers (TFWs):
   • Canada is reducing the number of low-wage TFWs to address high unemployment rates among immigrants and young people.
   • Sectors with 6%+ unemployment won’t be allowed to hire TFWs, except for food security, construction, and healthcare sectors.
   • TFW program changes include limiting TFWs to 1-year contracts and capping employers from hiring more than 10% of their workforce through the program.
2. Unemployment Statistics:
   • Newcomer unemployment at 11.6% and youth unemployment (ages 15-24) at 13.5%—the highest in a decade.
   • A growing crisis highlighted by the UN calling Canada’s TFW program "a breeding ground for modern-day slavery."
3. The Strain on Housing:
   • Not enough housing for the influx of TFWs.
   • Canada holds the highest number of TFWs in the G7, with job fairs overwhelmed by applicants struggling to find work.
4. New Developments Dropping Off a Cliff:
   • In July 2024, only 266 pre-construction condos were sold compared to a 10-year average of 2000 units.
   • Appraisals are falling short, while development fees are rising. Burnaby, for example, increased development fees to $50K per unit after receiving $80M from the federal government for the Housing Accelerator Fund.
5. The Future of Condo Development:
   • Developers may shift to subscription-based models, building rental units instead of condos for sale to capitalize on easy, long-term revenue gains.

Key Takeaways:

• Canada's TFW program is being scaled back to address unemployment, but the housing shortage for these workers remains a serious issue.
• New condo developments have hit record lows, with developers potentially shifting towards rental projects.
• Rising development fees and appraisals coming in short are further hindering real estate growth.

Resources Mentioned:

• Arpan Khanna's video on the immigration crisis (MP for Conservatives in Oxford, ON)
  Watch on X (Twitter)

Follow Our Hosts:

• Alex Pang
• Alex Shanks

Send us a text

In this episode, we dive into the effects of rent control on the housing market in BC and Ontario. With BC capping rent increases at 3% for 2025 and recent rulings allowing a 23.5% hike, we explore whether rent control is solving or worsening the housing crisis. We also look at Argentina’s bold decision to remove rent control and the surprising results.

What We Covered:

• BC Rent Cap of 3% in 2025:
  What does this mean for landlords and tenants moving forward?
• Recent 23.5% Rent Increase Ruling:
  We discuss the reasons behind the ruling and its impact on the rental market.
• Should We Abolish Rent Control?
  Arguments against rent control, including its impact on supply, maintenance, and rental costs, and the potential political fallout of removing it.
• Argentina’s Success Story:
  After removing rent control, Argentina saw housing supply increase by 212%, rents drop by 26%, and mortgage costs fall by 30%.

Key Takeaways:

• Rent control may worsen housing affordability by reducing supply.
• Argentina’s removal of rent control shows promising results.

Resources Mentioned:

• BC Rent Cap Details
• Global Studies on Rent Control
• Argentina's Rent Control Reform

Follow Our Hosts

• Alex Pang
• Alex Shanks