IMF ranks Canadian real estate as “overvalued,” late mortgage payments are falling fast, and Toronto and Vancouver condo prices are soaring.
This week’s top stories include the impact of higher interest rates, and the difference between a correction and a crash.
This week’s top real estate stories: Canada’s vacant home problem, Toronto real estate is slowing down, and Vancouver is booming…again.
Canada gets flagged for a financial crisis…twice, Vancouver’s subprime buyer program is spiking prices, and inflation plummets.
China’s largest international real estate buyer has a problem, and the Canadian government thinks household debt will accelerate.
Residential land accounted for almost a third of all commercial land sales in Vancouver, down from 50% the same time last year.
The über rich are flocking to Sydney for second homes, 7% of Toronto homes sold were owned less than a year, and BoC finds mortgage problems.
China’s international real estate binge is dead, 3.1 million US mortgages are still underwater, and Toronto has a ton of ballin’ families.
Canadian debt problems are getting out of control, Vancouver does have domestic speculators, and there’s a global pension shortage.
The Canadian senate heard from Moody’s, the IMF, and the CMHC. Here’s your cheat sheet on what they said about real estate and our banks.
