Canadians must be entering election season, because not even real estate prices will give a straight answer. The Teranet–National Bank of Canada House Price Index (TNB HPI) showed prices increased in June. Economists at the bank warn not to read too much into the increase, however. Without seasonal pressures, the index would have shown a […]
Vancouver real estate is hella expensive, but it’s become ridiculous in recent years. Canadian Centre for Policy Alternatives (CCPA) crunched the numbers to find the wage needed to rent in Greater Vancouver. Breaking down the numbers further, we see how unsustainable the region has become. The average one-bedroom is now unaffordable to over half of […]
Young person looking to move to Toronto? Better line up a professional gig first, or expect to bunk up. Canadian Centre for Policy Alternatives (CCPA) crunched the numbers to find the wage needed to rent in Greater Toronto. Digging into the numbers, we can see how unsustainably high prices have become. The average one-bedroom is […]
Canadian real estate insanity has officially spread to every corner of the country. The Canadian Centre for Policy Alternatives (CCPA) conducted a rental affordability study across Canada. The non-partisan organization found minimum wage employees can’t even afford to rent these days. Minimum wage earners can only afford to rent an average one-bedroom in 3 small […]
Canadian real estate owners are turning to private lenders, which may not be great news. Canada Mortgage and Housing Corporation (CMHC) gave households an update on lender data from 2018. The overall rate of delinquency remains low. However, increasingly popular private lenders are seeing delinquency rates 8x higher than typical. Canadian Mortgage Lenders Canadian mortgage […]
Canadian borrowing rates are dropping from the multi-year high reached earlier this year. Bank of Canada (BoC) numbers show the effective household borrowing rate is falling as of July. The rate, while lower than peak, is still significantly above 2017 levels of cheap credit. Effective Household Borrowing Rate The effective household borrowing rate is the […]
After making a huge jump in May, Canadian real estate sales are slowing in growth again. Canadian Real Estate Association (CREA) numbers show an increase of less than a point in June. The increase was largely due to a jump in Southern Ontario, especially in Toronto. Lower Mainland was a drag on growth, with Vancouver’s […]
Canadian real estate owners are turning to non-bank lenders across the country. Statistics Canada (Stat Can) released the first results of its Survey of Non-Bank Mortgage Lenders. Unfortunately, since it’s the first survey, historical comparisons can’t be made. Though it does shine a light on a relatively opaque industry. The most interesting insight revealed is […]
Canadian household debt issues are surfacing in some of the country’s largest cities. Office of the Superintendent of Bankruptcy (OSB) filings show an uptick in a few urban markets in Q1 2019. The uptick was most notable in Toronto, Vancouver, and Calgary. In the opposite direction was Montreal, which is seeing insolvency filings drop to […]
Greater Vancouver’s detached real estate market slipped a little lower last month. Real Estate Board of Greater Vancouver (REBGV) numbers show prices dropped in June. Prices for the market dropped as inventory made a small decline, and sales had the worst June in almost 30 years. Greater Vancouver Detached Real Estate Prices Are Down Over […]
