Canada’s central bank has finally stopped juicing the mortgage market… or at least it’s taking a break. Bank of Canada (BoC) data shows December was the first ever drop in the amount of Canada mortgage bonds (CMBs) held. It’s too early to tell if it’s just temporary, or if it’ll start again. If the buying […]
Canadians are falling behind on their rent. A lot of them. Canada Mortgage and Housing Corporation (CMHC) data shows rent in arrears at purpose built rentals in 2020. Over 125,000 Canadians were behind on rent in October, with almost a third located in Toronto. Despite the large number, it likely only represents a fraction of […]
Households in Canada’s largest real estate markets are big premiums to own. Canada Mortgage and Housing Corporation (CMHC) analysis shows the gap between the cost of owning and renting in 2020. Carrying costs in the largest market are now almost double that of paying rent. That isn’t a general rule though, with some markets cheaper […]
Greater Toronto real estate buyers are paying massive premiums to own. Canada Mortgage and Housing Corporation (CMHC) data shows 2020 rental data. The organization observed, despite more rental vacancies, rents are still rising. More interesting though, they observe that apartment buyers are paying very large premiums for a shot at making big money. Toronto Rental […]
Canada’s lofty disposable income growth made a sharp pull back in Q3 last year. US Federal Reserve data shows real disposable income generally improved in the latest numbers. Canada was a notable exception, making a sharp quarterly drop. Even with the drop, the country manages to squeeze out the biggest gains of any country since […]
One of Canada’s Big Six banks thinks it cracked the real estate price situation. BMO’s chief economist, Douglas Porter, wrote a recent analysis on the gap between Canadian and US home prices. As recently as 2017, he maintained many markets were in a bubble. However, he’s come to embrace the lack of affordability. The noted […]
Canadian real estate prices aren’t just fast growing by local standards. They’re growing fast by any standard. US Federal Reserve data shows real home prices advanced in most of the G7 in Q3 2020. Canada topped the list of advanced countries for annual price gains. This isn’t a new trend though. Canadian real estate prices […]
Canadian real estate prices are growing to comical levels, as bad policy stacks up. U.S Federal Reserve data shows real adjusted home prices increased at double the pace of the U.S in Q3 2020. As big as the gain is, it’s one of many times Canadian real estate prices have outperformed the U.S. home prices. […]
Over the past few weeks, older homeowners have been pointing me to Canada’s Affordability Index. The index, created and maintained by the Bank of Canada (BoC) shows a big drop in Q3 2020. Further, it also spurred a few emails saying affordability was worse in the ’80s, Millennials are just complaining. Well, the issue is […]
Canada’s central bank didn’t devote a whole section for real estate to their latest monthly report like they usually do. However, the Bank of Canada (BoC) did provide a lot of insights in the January Monetary Policy Report. The central bank believes “elevated” housing activity was the result of a shift in buying behavior, as […]
