Canada’s housing supply is about to explode in growth as developers scramble to meet demand. Canada Mortgage and Housing Corporation (CMHC) data shows new starts surged in November. Most of the building is in cities where existing-home inventory is under pressure from elevated demand. Urban starts of new homes fell just short of hitting another […]
Canadian mortgage debt is getting so large that it now rivals the economy’s output. Bank of Canada (BoC) data shows mortgage credit reached a new record high in October. Households have a strong appetite for housing debt, still printing high growth. That might change soon, though. The latest data indicates much less mortgage debt has […]
Canada’s population growth came to a halt during the start of the pandemic, but it’s back with a fury. Statistics Canada (Stat Can) data shows population growth had the second biggest quarter ever in Q4 2021. Estimates are now back to pre-pandemic levels, as backlogs begin to clear. Most of this growth was concentrated in […]
Canada is projected to be the next Greece, and not because of the good stuff. The Organization for Economic Co-operation and Development (OECD) has forecast Canada’s economy will fall behind. The group sees Canada’s real gross domestic product (GDP) per capita growth falling to last place. An expert warns young Canadians won’t have the same […]
Canadian real estate demand has never been this elevated before. That demand is the primary issue driving home prices higher, according to BMO senior economist Robert Kavcic. Rejecting the supply shortage narrative, he argues inventory levels are robust. Excessively low interest rates are just incentivizing too much demand. It will eventually end, as soon as […]
In Canada, it only goes up. Well, when it comes to real estate prices, anyway. Fitch Ratings‘ sent its latest global real estate forecast to clients this week. The credit rating giant sees Canadian home price growth slowing but still firm. At the same time, this isn’t driven by lower rates or higher incomes. They […]
Canadian real estate buyers are rushing to buy anything they can, from Victoria to St. John’s. National Bank of Canada (National Bank) attributes this to FOMO on low interest rates. The Big Six bank said home buyers are trying to purchase before the Bank of Canada (BoC) raises rates. Especially buyers that have mortgage pre-approvals […]
Canadian real estate prices are seeing the rate of growth accelerate once again. The Canadian Real Estate Association (CREA) Home Price Index (HPI) shows prices surged in November. Even as the inventory squeeze eased a little, buyers bid up home prices at an even faster rate. Annual home price growth is at a record high, […]
Canada’s central bank renewed its mandate, but with one fundamental change. The Bank of Canada (BoC) will now consider employment in addition to its goal of maintaining a 2% rate of inflation. The Governor stressed, it’s difficult to figure out when full employment is present. Two of Canada’s “Big Six” banks say full employment has […]
Canada’s dependence on real estate has homebuyers thinking they’re too-big-to-fail. It’s too dependent on housing to allow prices to crash, so people see it as risk free. Each time a disaster is avoided, the government reinforces the belief buyers can’t lose money. Not a lot of options, they can either support higher and higher home […]
