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.
Canadian real estate experts assumed people would start getting mortgages at credit unions, to skip the stress test required at banks. Bank of Canada numbers show there really isn’t much more demand than usual.
Impaired mortgage dollar volumes are spiking at Canadian banks. Don’t worry, this likely has to do with the improved transparency that became mandatory in January.
Big declines in output from the Canadian real estate industry helped send Canada’s Gross Domestic Product (GDP) lower, according to Statistics Canada.
Canadians don’t just have a buttload of debt sitting on the sidelines, they’re paying a buttload for the privilege of borrowing it.
Canadian real estate buyers helped to send outstanding debt levels to new highs, as outstanding mortgage credit resumed its growth.
First housing, now everything else. Statistics Canada (StatsCan) numbers show the cost of living is rising faster than anticipated. The Consumer Price Index (CPI), a common measure of inflations, showed a huge jump over the past 12 months. This jump was spread across the country, but Toronto and Vancouver observed even higher than average increases. […]
Canadian real estate owners have received a windfall lately, but unfortunately it’s all trapped in their home. Office of the Superintendent of Financial Institutions (OSFI) numbers show that an increasing number of homeowners are “releasing equity” through a reverse mortgage. The relatively new form of debt is rapidly growing, at almost 8 times the pace […]
