Greater Toronto real estate’s inventory squeeze appears to be rapidly coming to an end. The sales to new listings ratio (SNLR) made a very sharp decline in April, marking the third month in a row. Such sharp corrections in the SNLR are historically associated with falling price growth. Over just the past 3 months, the […]
Canadians should prepare for the Hunger Games and an all-out attack on affordability. That’s the takeaway from the Canada Mortgage and Housing Corporation (CMHC) Spring 2021 forecast. Last year’s doomsday forecast is now followed by one of ambitious price growth. The national housing agency’s worst-case scenario is prices grow much faster than incomes. If you […]
Canadian home prices are going to have a difficult time moving higher from here. Desjardins, the country’s largest cooperative financial group, updated its affordability index for Q1 2021. At the national level, the index plunged to the worst level of affordability in over a decade. Their model indicates a substantial price increase would be difficult […]
Canadian home prices grew much faster than American home prices, but did incomes? In Canada, home prices have grown at a rate more than double that seen in the United States. However, disposable incomes over the same period grew at basically the same rate. Let’s take a dive into how shelter costs evolved in the […]
Canada’s hottest real estate markets for young adults are far outside of the city. That’s because saving the down payment to be in some cities, would take the majority of their adult lives. National Bank of Canada (NBC) found a sharp deterioration of affordability in Q1 2021. The median household now needs to save up […]
Canada’s central bank made an unusual move last month — it discredited its own inflation position. National Bank of Canada (NBC) deputy chief economist Matthieu Arseneau is “puzzled” why. In his latest report, he questions why the Bank of Canada (BoC) thinks its preferred measures overstate inflation. The economist took a dive through the data […]
Home prices are expensive. Let’s build more homes, and the cost of all of them will become affordable. It’s supply and demand… like your local politician and mysteriously funded community group always say. Except homes are being built and delivered at a record pace, way in excess of population growth. You’re getting a little suspicious. […]
Canadian immigration is often the bull case for the Big Three immigration hubs — Toronto, Vancouver, and Montreal. A new Statistics Canada (StatCan) study on immigrant labor market outcomes puts a kink in the thesis though. The study focuses on the outcomes of immigrants between the 2001 and 2016 Censuses. Amongst the data, it reveals […]
Canadian real estate prices have been rising quickly, but it’s never been like this before. Canadian Real Estate Association (CREA) data shows home prices made a big jump in March. Over the past 12 months, home prices increased more than they did over the previous 4 years. That’s just at the national level. More than […]
Canadian real estate is in a melt-up, and the Government of Canada (GoC) was warned not to pour any gas on the fire. Naturally, they’re getting ready to pour gas on the exact fire they were told not to. On May 3, 2021, the GoC will expand the First-Time Home Buyer Incentive (FTHBI) program. The […]
