It’s the most wonderful time of the year – especially if you’re in real estate. Statistics Canada (Stat Can) released gross domestic product numbers for Q3 2019. The numbers show healthy growth for the economy – until you dive into them. A single-industry represented more than half of quarterly growth – real estate transactions. About […]
Canadians have been on a debt binge, and some cracks are starting to appear. The Office of the Superintendent of Bankruptcy Canada (OSB) saw an increased number of filings in October. Insolvency filings have been moving higher for the past year, especially in the consumer segment. Canadians Filed Over 139,000 Insolvencies Canadian insolvencies are rising […]
Greater Vancouver new home sales have been softer than last year, but inventory is drying up. Data from MLA Canada, a Vancouver based real estate firm, shows new project launches made a big decline in October. Falling new unit launches, follows soft sales leading up to last month. In response, developers have been delaying and […]
Greater Toronto new home sales are rising, but so is inventory as well. Altus Group data shows inventory reached a multi-year high in October. The rise in inventory was accompanied by higher sales too – just not in the City of Toronto. In the City proper, sales continue to make significant declines. Greater Toronto New […]
Canadian household debt is cheap to carry, but that could change soon. Bank of Canada (BoC) data shows the interest rates for households is climbing this month. Rates are still lower than last year, but they’re back to climbing higher. Effective Interest Rate The effective interest rate for households is a weighted index of what […]
Canada is a country of movers, but apparently not everyone wants to move. Statistics Canada (Stat Can) data shows hundreds of thousands of households were forced to move in 2018. Canadian households forced to move were largely due to evictions and foreclosures. Forced To Move, a.k.a. Evictions and Foreclosures Today we’re looking at the number […]
Canadian inflation is touted as “low and stable,” but for whom is an interesting question to ponder. Statistics Canada’s Consumer Price Index (CPI) when broken down, shows a huge gap in which costs are rising. While averaged out in a weighted basket, CPI looks low and stable. However, when broken down, we see costs rising […]
Canadian seniors are picking up the pace they extract equity from their homes. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached an all-time high in September. The all-time high comes with a mild acceleration to an already very large growth rate. What Is A Reverse Mortgage? Reverse mortgages are […]
Canadian real estate prices slipped from the all-time high, but not far. Teranet–National Bank of Canada House Price Index (TNB HPI) show prices for the national index fell in October. Despite the decline, most markets are just below peak. Canadian Real Estate Prices Are Just Off Peak The C11, an index of Canada’s largest real […]
Vancouver real estate prices are sky high, but they have been coming down. Statistics Canada (Stat Can) updated its new Residential property price index for Q3 2019. The index shows prices made a big climb from two years ago. However, prices are now falling very quickly, especially in the condo apartment segment. Vancouver New Home […]
