StatsCan: Nearly 1 In 10 New Homes In Toronto Scooped By Non-Residents In 2016-2017
Statistics Canada has updated the non-resident real estate ownership stats for Greater Toronto. Finally, some data!
CMHC: 55% of Toronto and Vancouver Real Estate Buyers Were In A Bidding War
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 […]
Toronto Is (Still) The Fastest Cooling Real Estate Market In Canada
According to the Canadian Real Estate Associations’ SNLR, Toronto was the fastest cooling market in the country in May.
Canadian Real Estate Association Lowers Sales Forecast, Declines Rise Over 50%
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 […]
Greater Toronto Is Seeing New Mortgages Drop Wicked Fast
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 […]
Can You Tell If These Central Bank Quotes Are About Canadian Real Estate in 2018, or The US Before The Great Recession?
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, […]
Toronto Condo Prices Hit A New All-Time High, Inventory Jumps To 21 Month High
Toronto real estate might be seeing sales plunge, but condo prices still hit a new all-time high… despite higher inventory.
Canada Sees Personal Loans Against Real Estate Jump, Business Loans Plummet
Less Canadians are putting up their homes for business loans, and more are doing it for personal ones. Filings with The Office of the Superintendent of Financial Institutions (OSFI) show loans secured against residential property showed moderate growth in April. The loans, such as HELOCs, showed growth almost exclusively for personal consumption. Meanwhile, the dollar […]
Canadian Real Estate Sales Have Worst May In Over 10 Years
Canadian real estate sales continued to slump, any way you cut the numbers. Canadian Real Estate Association (CREA) numbers show May sales, usually the peak of the year, are significantly lower than last year. In fact, it was some the worst May numbers for Canada over the past decade. Seasonally Adjusted Versus Non-Seasonally Adjusted If […]
This Week’s Top Stories: Canada Has A Subprime Mortgage Problem, and Toronto Detached Homes Shed Over $100k
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canada Has A Subprime Real Estate Problem, You Just Don’t Know It Most people know the US real estate crash started with subprime lenders. Most don’t know most defaults were people with good credit, using subprime lenders. The same trend […]
