Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Prices Grew Over 25x Faster Than U.S. Prices Since 2005 Poor policy choices have led to a comically large gap between Canadian and US home prices. Canadian home prices generally move in line with US home prices, but […]
Canadian real estate prices are growing to comical levels, as bad policy stacks up. U.S Federal Reserve data shows real adjusted home prices increased at double the pace of the U.S in Q3 2020. As big as the gain is, it’s one of many times Canadian real estate prices have outperformed the U.S. home prices. […]
A record number of Canadians are collecting unemployment benefits. Statistics Canada (Stat Can) data shows claims for regular employment insurance (EI) benefits in November. Unadjusted claims for the month came in at a record high for the data set. While it’s a historic surge, it was largely expected due to changes in the qualifying criteria. […]
Over the past few weeks, older homeowners have been pointing me to Canada’s Affordability Index. The index, created and maintained by the Bank of Canada (BoC) shows a big drop in Q3 2020. Further, it also spurred a few emails saying affordability was worse in the ’80s, Millennials are just complaining. Well, the issue is […]
Canada’s central bank didn’t devote a whole section for real estate to their latest monthly report like they usually do. However, the Bank of Canada (BoC) did provide a lot of insights in the January Monetary Policy Report. The central bank believes “elevated” housing activity was the result of a shift in buying behavior, as […]
Ontario residents are flowing out of the big cities, and looking for something a little more quaint. Statistics Canada (Stat Can) data shows intraprovincial migration for 2020. Rural regions are showing the biggest net-inflows of Ontario residents relocating within the province. Although almost everywhere in Ontario saw more people arrive than leave. Toronto being one […]
Greater Vancouver residents have been fleeing to the country. New Statistics Canada (Stat Can) data shows the migration pattern of people from Vancouver CMA in 2019. Tens of thousands of former residents ditched the city for other parts of the country. Rural B.C. was the biggest winner of former residents, but so were other big […]
Canada’s real estate markets ended the year with an unusually busy month, without a lot of sellers. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio climbed across the country in December. Every major market saw much tighter inventory than last year, relative to sales. Over three-quarters of markets are “seller’s […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Mortgage Lenders Have Set Aside A Record Amount For Bad Loans Canada’s mortgage lenders are setting aside a record amount of money for bad mortgages. The loss allowance at large lenders reached $3.9 billion in Q3 2020, up 54.11% from […]
Canadian real estate sales are soaring, shattering quite a few records. Canadian Real Estate Association (CREA) data shows another monthly record in December. The annual rate of growth was also the highest rate since just after the Great Recession. The trend of higher growth is most likely going to last at least another six months. […]
