The outlook for Canadian real estate, and the economy in general, is looking a little less bright. Oxford Economics warned clients this week, that we’re already seeing the early stages of a recession. Higher rates to cool inflation are pushing home prices much lower and prolonging the downturn. High inflation also means a stimulus windfall […]
Many Canadian mortgage borrowers are regretting walking into a low rate trap. Bank of Canada (BoC) data reveals a surge of borrowers over the past few years opting for variable rates. At the time, mortgage borrowers might have saved a few points over their fixed-rate peers. Now interest costs are making one of the most […]
The Canadian real estate bubble is bursting rapidly as rates rise, and peak buyers are in for a rough time. Canadian Real Estate Association (CREA) data shows the national market peaked in March 2022. We ran the numbers to see how much equity buyers from that month would have at this point. Most peak buyers […]
Canada’s got ninety-nine problems and mortgage debt is…. Over two trillion of them. Bank of Canada (BoC) senior deputy governor Carolyn Rogers addressed concerns about financial stability earlier today. She boiled it down to two major concerns that have been present for a long time, but are building up — household debt and housing. She […]
Canadian mortgage credit had an unusually slow month, as the hangover from higher rates starts to settle in. Bank of Canada (BoC) data shows consumer mortgages debt continued to decelerate in September. Higher rates and weak home sales combined for the slowest September in two decades. Canadians Owe Over $2.1 Trillion In Mortgage Debt Canadian […]
Canadian real estate is starting to see the first sign of stress from higher interest, and normalized demand. Canadian mortgage lenders are beginning to write off larger mortgages in Q3 2022—the largest in nearly a decade. Credit bureau data shows this isn’t a problem yet, as the share of mortgages written off continues to fall. […]
Canadian real estate, an “ultra violent cult,” money laundering, and Toronto’s stolen cars. Sounds like a spy thriller, but that’s reality in Canada, according to FINTRAC. In 2017, the financial intelligence agency assessed the money laundering threat of an organized crime group called Black Axe. The group infiltrated the government, conducts mass fraud, and runs […]
Canadian real estate found its footing last month, according to the industry. However, Canadian Real Estate Association (CREA) data tells a completely different story in the October numbers. Yes, seasonally adjusted home sales were higher than the month before, but it was still the worst October since the Global Financial Crisis. Home prices also saw […]
Every asset bubble has common issues, and leads to a scramble to identify which bubble we’re in. After all, if you identify which bubble this is like, you might be able to identify the outcome. BMO Capital Markets shared the similarities of this cycle with five major booms-and-busts. Here’s what’s similar, and what isn’t. Post-War […]
Canada didn’t just see households go mad for real estate—companies did too. Data from the Canadian Housing Statistics Program (CHSP) shows corporate ownership surged in 2020. Large companies bought a significant number of homes when interest rates fell. The fastest growing segment of corporate owners were those with at least 100 homes. Yes, you read […]
