Canadians Are Still Leaving Major Cities In Big Numbers: BMO
Canada’s large cities are now entirely dependent on immigration as local residents continue to flee and seek greener pastures.
Canadian Mortgage Payments Surge In Size, Largely Due To Real Estate Prices
Canadian mortgage payments were seeing double-digit growth before rate increases, as real estate prices surged.
Canadian Building Intentions Remain Elevated, But Inflation Killed Growth
Canadian real estate developers are still pumping significant cash into building permits, but inflation is killing that growth.
Bank of Canada Clear For Another Hike After Employment Boom: BMO
Despite the gloomy outlook, Canada is still churning out hot employment data. Statistics Canada (Stat Can) data shows the economy added over 100,000 jobs in December. Along with higher participation, this helped drive the unemployment rate within spitting distance of the record. At least one Big Six bank sees another rate hike, with robust job […]
Toronto Real Estate Is The World’s Largest Bubble & It’s Officially “Crashing”
Toronto real estate was declared the world’s largest bubble by UBS just a few months ago, now prices are crashing.
Canadian Detached Home Prices Are Plummeting, Here Are The Hardest Hit Markets
Canadian real estate is in the middle of a price correction, and single-family homes have been hit hardest. Canadian Real Estate Association (CREA) data shows single-family homes, which include detached and semi-detached units, saw prices fall sharply in November. Virtually every market is now off its all time high, with the worst performing down nearly […]
Canadian Home Equity Loans Surged After Regulator Warnings
Canadian homeowners have been using their home equity to secure an alarming amount of debt. Filings with OSFI, Canada’s bank regulator, show the value of loans secured by housing continued to advance in October. Over the past year, growth of loans secured by home equity has surged at one of the fastest rates ever. It’s […]
Canadian Real Estate Buyers Opt For Fixed Terms After Variable Shock
Overstimulated Canadian real estate buyers are no longer opting for variable rate mortgages. Bank of Canada (BoC) data shows mortgage borrowers preferred fixed rates in October. Most new borrowers had been opting for variable terms at the start of the year. That trend is rapidly shifting as rates normalize and fixed rates become cheaper. Canadian […]
Canadian Real Estate Prices Have Officially Crashed In 18 Markets
Canadian real estate markets went from boom to crash in less than a year. Canadian Real Estate Association (CREA) data shows every major composite index was down from its peak in November. Over a dozen of Canada’s real estate markets have even “crashed” as a sharp mix of reality and higher interest rates sink in. […]
Canadian Housing Affordability Hits Unsustainable Level: BoC Index
Canadian real estate has never exactly been cheap, but it’s rarely this unaffordable. The Bank of Canada (BoC) Housing Affordability Index (HAI) hit a 32-year high in Q3 2022. That means it’s nearly impossible for an average household to buy a home right across the country. The cost of housing has breached an unsustainable level […]
