Reverse Mortgages Are Exploding In Growth Across Canada
Cash strapped, real estate wealthy Canadian Boomers pushed reverse mortgage numbers over 20% higher over the past year.
Cash strapped, real estate wealthy Canadian Boomers pushed reverse mortgage numbers over 20% higher over the past year.
Some Canadians might think Toronto and Vancouver real estate is dangerous right now, but not for any of the reasons being advertised here.
Canadians are borrowing against real estate at the fastest pace ever, setting a new all-time high for loans secured by property.
Vancouver real estate is seeing new listings plummet, but not as fast as sales. This may contribute to further tapering of price growth.
Toronto real estate is seeing at least 3 times more new listings than any other Canadian city, and buyers aren’t keeping up.
The Canadian Real Estate Association forecast was recently updated, let’s see how far from reality it is compared to the current market.
Canadian real estate prices got even wackier, as more than half of the country’s large condo markets hit all-time pricing highs in July.
Vancouver condos followed the rest of the city’s real estate market to new highs, despite higher inventory and less sales.
Vancouver is seeing new construction prices fly to new highs, posting the second largest annual gain for the month of July.
The Toronto condo market is making erratic swings, with some neighborhoods posting over $30k gains, and others posting over $30k in losses.