Local Millennials have had enough of Toronto and Vancouver, and are starting to leave. Statistics Canada’s latest intraprovincial migration numbers show the number of people leaving the cities for different parts of the province, is accelerating. The trend is showing huge growth in the crucial Millennial demographic. A demographic that will be entering their prime […]
Canadian mortgage debt is soaring, but how much of it is in Toronto and Vancouver? Nearly a third, according to Equifax and the CMHC, and it costs locals a buttload to service.
Canadian real estate prices have been soaring, but much of those gains are already spent. Nearly half of Canada’s HELOC debt is located in just three cities.
Canadian real estate debt hit a new high, and the news gets worse as they explain it further. The Bank of Canada (BoC) updated household debt numbers for March. In a speech this week, BoC’s Governor Stephen Poloz also gave further insights on the numbers. The record debt levels are concentrated in a smaller segment […]
Canadians are getting cold on mortgage borrowing in 2018. Bank of Canada (BoC) numbers show the balance of outstanding mortgages hit a new high. Despite the high, don’t expect the same kind of growth we saw last year. The new high comes with a rapid taper on the growth rate, as higher interest rates and […]
Low interest rates driving Toronto’s condo market? Not exactly. Nearly a third of mortgages on new condos being occupied by the owner, are paying rates nearly double the average.
Canadian banks are reporting record low mortgages defaults. That’s often a misread sign of market health, but likely means we’re seeing real estate exuberance.
Canadian real estate sales are down across the country, especially in the Greater Toronto and Greater Vancouver area. That’s bad news for the Canadian economy.
Canadians are using their real estate to secure more debt at a new record pace, according to filings made with Canadian banking regulators.
Analysts from Teranet and the National Bank of Canada are noting unusual movements in the Canadian real estate market. Data shows the market has made two movements, not seen outside of a recession.