Toronto real estate showed signs of life for the first time in a year, although there are a whole lot of footnotes. Toronto Real Estate Board (TREB) reported Greater Toronto price declines improved in May, compared to last month. Although they’re still down from the year before. Sales definitely did spike though! … but only […]
Canadian real estate sales are feeling the pinch of higher interest rates, and consumer credit isn’t far behind. Bank of Canada (BoC) numbers show household debt printed a new record high. Despite the record high, the rate of growth continues to slow for consumer debt levels. The decelerating growth is yet another indicator that the […]
People often boast of the quality lending standards that support Canadian real estate. Every now and then, lawyer and investor Joey Evans reminds us that’s not really the case. He recently posted a great example on his Twitter account, highlighting a Toronto home. The mansion, located in the City of Toronto, had mortgage debt over 3x […]
One of the world’s largest credit agencies is noting credit exhaustion at Canadian households. Equifax is seeing a declining number of Canadians paying off the balance on credit cards. Total nothing burger to most, but it’s actually really interesting to credit nerds. Carrying a balance increases the odds of credit delinquencies later down the road. […]
Statistics Canada has updated the non-resident real estate ownership stats for Greater Toronto. Finally, some data!
Have you ever woke up after a night of drinking, and only had a vague recollection of what happened? Then your responsible friend sets off a chain of text messages, trying to figure out where you went wrong? Well that’s what the Canadian real estate industry just did, and man-o-man did people screw up. The […]
According to the Canadian Real Estate Associations’ SNLR, Toronto was the fastest cooling market in the country in May.
The Canadian real estate industry just became a little bearish. The Canadian Real Estate Association (CREA), the trade association representing the country’s agents, has revised their 2018 and 2019 sales forecast. The organization now sees sales falling even further this year, than they did during their prior forecast. Declines are now expected to be over […]
If the adage that real estate prices follow credit growth is true, Toronto may be in for a rough ride. Using Bank of Canada (BoC) data to estimate dollar volumes, we see less mortgages are being issued in Greater Toronto. The decline is exclusive to traditional lenders, as more buyers turn to subprime loans. The […]
The real estate industry listens very closely to central bankers, and why wouldn’t they? Monetary policy heavily influences real estate prices. However, if you really listen to the words they use, you start to realize that they all sound the same… almost all of the time, regardless of what the economy is doing. Half joking, […]
