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Canada’s Real Estate Funds Lock Up Billions

Private real estate funds have trapped nearly $30 billion in investor capital across Canada, blocking withdrawals as property values decline and redemption requests surge beyond what managers can meet without liquidating assets.

The frozen funds represent approximately 40% of the $80 billion invested in Canada’s private real estate sector, according to Bloomberg. Fund managers have imposed restrictions on client exits to prevent forced sales of properties and loans in a weakened market.

The funds promised quarterly or monthly withdrawals while holding properties and loans that take months to sell. That mismatch proved fatal when property values fell, and investors rushed for exits.

You can read more on the matter here.

What’s going on?

• China Offers Canola Relief for Canada Easing EV Tariffs During Carney Visit (theDeepDive)

• Quebec Premier François Legault to resign ahead of fall election (Globe)

• Trump Cancels Iran Meetings, Urges Protests Continue (theDeepDive)

• US evacuates personnel from Qatar military base as Donald Trump threatens Iran (FT)

• Sweden, Finland Push EU to Ban Ships Carrying Russian Energy (theDeepDive)

• Home Sales in December Jump 5.1%, Biggest Gain in Nearly 2 Years (WSJ)

• Republican Senators Threaten to Block Trump’s Fed Nominees Over Powell Probe (theDeepDive)

• US defence contractor arrested on charges of leaking classified material (FT)

• US Treasury Hosts Ministerial to Diversify Rare Earth Supply (theDeepDive)

What’s the latest?

• Commodities: Silver hit a record US$92/oz, driven by electrification and data-center demand amid a 95M oz projected supply deficit, yet Canada excludes it from its critical minerals list despite being the 2nd-largest supplier to the U.S., while the U.S. added it in 2024; investors are increasingly watching silver into 2026 due to rising industrial use and structurally constrained supply.

• Tech: The U.S. approved Nvidia H200 AI chip exports to China under tighter security rules, requiring U.S. supply assurances, third-party reviews, a ban on military use, and a 50% cap relative to U.S. sales, while excluding advanced Blackwell and Rubin chips. The move lowers export barriers compared to prior policy, despite objections from Democratic senators citing national security risks; Nvidia and AMD also agreed to remit 15% of China-related chip revenue to the U.S. government to secure licenses.

• Market: Canada’s S&P/TSX fell 39.15 points to 32,831.21, tracking U.S. market weakness as the Dow (-111.70), S&P 500 (-51.98), and Nasdaq (-307.82) declined. The CAD edged up to US$0.7206, while crude rose to US$61.65/bbl and gold climbed US$23.70 to US$4,622.80/oz in late-morning trading on Jan. 14, 2026.

• Layoffs: Canada has begun implementing federal workforce cuts targeting 28,000 jobs over four years, aiming to reduce the public service from 367,772 employees (March 2024 peak) to 330,000 by 2028–29, with Statistics Canada cutting 850 roles, Natural Resources Canada 400, and multiple departments issuing impact notices. Unions report hundreds already flagged across agencies, 68,000 early retirement notices have been issued, and the plan seeks $60B in savings, combining layoffs, attrition, and retirements.

• Trade War: Canadian canola farmers face at least $2B in losses as China’s 76% tariff on canola seed has halted purchases, prompting Prime Minister Mark Carney to seek a breakthrough during trade talks in China this week. Saskatchewan, which produces over 50% of Canada’s canola, is hardest hit, with farmers reporting reduced incomes but largely maintaining planting plans; expectations are cautious, with hopes the talks lay groundwork for ending tariffs imposed after Canada’s 2024 EV and steel tariffs on China.

What comes after $100 Silver and 5000 Gold?

The stock market and stuff

• US Mint Warns of Pricing Changes as Silver Hits Record $90 Per Ounce (theDeepDive)

• Google launches Personal Intelligence feature in Gemini app, challenging Apple Intelligence (CNBC)

• Musk says Tesla is moving Full Self-Driving to a monthly subscription (CNBC)

• Equinox Gold Guides To 2026 Production Midpoint Of 750,000 Ounces (theDeepDive)

In the juniors

• Antimony Resources Planning 10,000 Metre Drill Program For H1 2026 (theDeepDive)

• AbraSilver Resource Commences Phase VI Drill Program at Diablillos and Reports Assay Results (JMN)

• Canadian Copper Closes On Sale Of Turgeon Project In New Brunswick For Cash And Shares (theDeepDive)

FULL DISCLOSURE: Silver47 Exploration is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Silver47 Exploration. The author has been compensated to cover Silver47 Exploration on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.