Canadian real estate is unaffordable, but you don’t appreciate how bad the reality is until you look at its G7 peers. The latest house price-to-income ratio data from the OECD shows all G7 countries are seeing affordability decline. However, Canada has consistently seen home prices outgrow incomes. Since 2005, no other G7 country has seen […]
Australian lawmakers are learning how home prices have been inflated by money laundering. The Senate committee investigating the adequacy of anti-money laundering laws continues this week. A piece tabled is a study showing how high-profile individuals with questionable cash should have set off alarms. Instead, they were able to move millions of dollars of unknown […]
Think Toronto or Vancouver real estate is too expensive? Then consider more affordable places like Los Angeles, New York, or San Francisco. Oxford Economics released its North American Housing Affordability Index (HAI) for Q2 2021. The global forecasting firm found affordability has deteriorated across North America. Toronto and Vancouver real estate were in a league […]
Hong Kong, New York City, and Paris? They have nothing on Canada’s biggest real estate bubbles. UBS released its annual Global Real Estate Bubble Index today. Two Canadian cities managed to rank near the top of the charts — Toronto and Vancouver. Toronto home prices now rank as the second biggest bubble in the world. […]
Global real estate prices have uncharacteristically surged during the recession. It didn’t come without consequence, warned the International Monetary Fund (IMF), this week. The agency’s regular Financial Stability Report said global home prices are now stretched. Stimulus policies backstopped the market, creating moral hazards. Buyers now have a “can’t lose” feeling, pushing them to pay […]
Canadian home prices just keep rising at a faster and faster rate. US Federal Reserve (The Fed) data shows real home prices in the country surged in Q2 2021. Actually, that’s really underselling what happened. Residential real estate prices in Canada are growing at the fastest rates in the G7. Not just over the past […]
Dust off the disco ball and rolled up dollar bills, because the 1970s are back. At least the signs of 70s-style stagflation are forming, according to one of Canada’s Big Six banks. National Bank of Canada (NBC) chief economist Stéfane Marion warned clients of the rising risk of global stagflation. Rising oil prices, soaring food […]
New Zealand property investors will see another tax advantage disappear soon. On Tuesday, the Government of New Zealand revealed they’ll limit mortgage interest deductions. The plan goes into effect October 1 and is hoping to lower the incentive to speculate with housing. This measure follows a series of actions to discourage speculators. The government says […]
Germany is one of the world’s biggest real estate bubbles, and it might pop in a spectacular way. Yesterday the majority of Berlin residents voted to nationalize 240,000 rental units. The move was driven by Deutsche Wohnen & Co. enteignen (DW enteignen), a housing activist group looking to cut large corporate landlords. The referendum isn’t […]
Australia’s central bank is warning home prices may threaten the country’s financial stability. Reserve Bank of Australia assistant governor Michele Bullock gave a housing update this week. She warns the quality of borrowers has been deteriorating, as they take on more leverage. As the share of these borrowers surges, so does the risks they bring […]
