Canada’s mortgage delinquencies are flat, but that story is much more interesting by region. Canada Mortgage and Housing Corporation (CMHC) data shows mortgage delinquencies are flat in Q3 2020. It’s a little different looking at the biggest real estate markets though. In Toronto and Vancouver, delinquencies are still rising to multi-year highs. Montreal is performing […]
Canadian real estate is back on its way to becoming more unaffordable. RBC Economics’ latest report shows affordability got worse in Q3 2020. Temporary government transfers had improved the measure when observed in aggregate. However, as those transfers are gradually reduced, affordability is once again deteriorating. This isn’t a big city thing either. All major […]
Canada’s real estate industry expects next year to be slower than this year, but still sees massive price growth. Canadian Real Estate Association (CREA), the industry group representing Canada’s Realtors, released their 2021 forecast. They expect next year will see large growth, just not as large as we’ve seen this past year. Ontario is forecasted […]
Canadian real estate prices didn’t rise on fundamentals, so why would a change make a difference? Statistics Canada (Stat Can) data shows Canadian population growth was flat in Q3 2020. Two provinces, home to the country’s busiest markets, weren’t lucky enough to be flat though. Both B.C. and Ontario saw declines from the previous quarter. […]
Staff at the City of Toronto are getting ready for a vacant home tax, but there’s some industry concerns. Toronto Regional Real Estate Board (TRREB) asked City council members to ensure “data-driven and results” based decisions. Along with this request, they also shared a list of exemptions they would like to see. Here’s a few […]
The pandemic may have helped banks accelerate profitability… and not just from real estate prices. Well, kind of because of real estate prices. Earlier this month, two of Canada’s largest banks reiterated plans to reduce office space. The pandemic forced them to send non-essential staff to work from home. Now they’re finding things are working […]
Canadian real estate prices just got another negative forecast from a Big Three credit rating agency. Fitch Ratings released its Global Housing Outlook this month, which contained a forecast for Canadian home prices. The firm generally sees home prices falling next year, as well as the delinquency rate nearly doubling. Canadian Real Estate Prices Forecasted […]
Canadians didn’t see their debt problems improve nearly as much as previously thought. Statistics Canada (Stat Can) data shows household debt to income made a big quarterly jump in Q3. The rise was accompanied by a substantial upward revision of the previous quarter. The ratio has now already retraced half of the drop it made […]
Canada’s largest bank is prepared for price drops most would find unthinkable. Royal Bank of Canada (RBC) filings show possible risk scenario forecasts. Over the next year, the base forecast shows virtually flat growth. In a best case scenario, growth would hit levels similar to previous years. In a worst case, they forecast prices can […]
Not every Canadian that took a credit payment deferral needed one. Don’t let that fool you into thinking no one needed a payment deferral though. Royal Bank of Canada (RBC) data shows the number of expired payment deferrals the bank is carrying. The vast majority of people have resumed payments without problem. However, delinquencies are […]
