Cheap debt turned Canadian real estate into a playground for deep-pocketed investors, with fewer end-users. That was one of the insights in the RBC Q2 2022 earnings call with analysts. Investors now represent almost 1 in 7 residential mortgage dollars they’re owed. RBC’s top brass called it a “sad commentary” to see so few first-time […]
Canada’s largest real estate market is cooling down at a blinding speed. Toronto Regional Real Estate Board (TRREB) data shows home prices fell in May as sales tapered to more historic levels. Falling sales and rising inventory have officially pushed the market into a “buyer’s market,” where prices traditionally begin to drop. Greater Toronto Real […]
Greater Vancouver real estate is cooling almost as fast as the market heated up. Real Estate Board of Greater Vancouver (REBGV) data shows the price of a typical home fell in May. The drops were accompanied by falling home sales too. In fact, demand has fallen so fast that only a minor increase in supply […]
Canadian real estate prices are about to get downward pressure not seen in decades. Government of Canada (GoC) 5-year bond yields are soaring and it’ll have a big impact on housing, says BMO. In a research note to investors, they warn mortgage costs are rising towards a decade high. However, the level of mortgage rates […]
New Zealand’s residential real estate market is becoming softer by the day. CoreLogic NZ data shows home prices fell across the country in May. A combination of higher rates and anti-speculation measures are rapidly cooling demand. Prices are now falling at the fastest rate since 2010 and the central bank expects them to fall a […]
Canada’s economy is demonstrating it has no clue where to find growth if not through a housing mania. Statistics Canada (Stat Can) data shows the gross domestic product (GDP) advanced in Q1 2022. Nearly half of the quarter’s growth was due to residential investment, or homebuilding. Housing has produced such lofty gains, it’s become hard […]
Canada’s Middle Class is seeing its shot at homeownership vaporize, but it wasn’t always this way. Not just in expensive cities where lofty expectations pushed ownership out of reach for all except high-income households. But now most cities across Canada are out of reach for the country’s Middle Class. A median household now needs to […]
Higher mortgage rates are rapidly cooling American real estate prices. US Census Bureau data shows a very sharp moderation in new housing activity in April. Sales fell to the lowest level since the public health crisis, but inventory is the standout. The market hasn’t seen this much new housing inventory since 2008, falling into a […]
Canadian real estate is quickly changing as inflation drives bond yields much higher. First National, one of Canada’s largest non-bank mortgage lenders, warned rates are surging. Neil Silverberg, a senior analyst with the lender, wrote to clients explaining how fast yields have increased and how this will impact ownership. More Canadians are expected to stay […]
Canadians are tapping that windfall of home equity and are ready to pay a lot of interest to do so. Filings with the bank regulator show home equity line of credit (HELOC) debt increased in March. It’s now growing at the fastest rate since 2013, after contracting over the past few years. The debt is […]
