North American lumber prices are soaring, sending homebuilding costs higher with it. The good news is, relief may be just around the corner. BMO Capital Markets updated its Benchmark Western Spruce-Pine-Fir (SPF) lumber forecast for April. The bank sees lumber prices dropping in the second half of the year. By 2022, they expect lumber prices […]
“It’s pent-up demand, bro – the market’s recovered” is one of the most common things I hear these days. Unfortunately, most people parroting the words don’t actually understand what they’re saying. Pent-up demand means a temporary surge of buying activity, that falls when demand catches up. Temporary being the key word. Under normal circumstances, this […]
American real estate buyers are regretting the decision to jump into the market during a pandemic. LendEdu, a US rate comparison site, surveyed homeowners that bought after March. The survey found a significant number of happy homeowners, taking advantage of record low rates. However, the majority of buyers have regrets about pulling the trigger on […]
Canadians with supersized mortgages are requesting payment relief at a much higher rate than across the border. Both the US and Canada worked with banks to offer mortgage payment deferrals since March. Both countries launched their programs and had a sharp initial uptake at the same time. The rate of US mortgage deferrals have since […]
Foreign buyers aren’t into US real estate these days. National Association of Realtors (NAR) numbers show a lot less foreign buyers in the year ending March. This is the second year volumes have declined, printing the fewest foreign buyers in at least a decade. US Real Estate Is Less Attractive To Foreign Buyers In 2019 […]
US real estate prices just passed their previous price peak, for the first time since the Great Recession. The S&P Case-Shiller Index shows January just printed an all-time high, for the first time since 2006. That may ring alarm bells for many markets, but this peak took over 75% longer to reach than last time. […]
US tech firms are flocking to Canada for high quality tech employees, even with pricey real estate. This comes at the expense of wages.
Foreign buying of residential real estate is surging across the United States, reaching over $153 billion in sales over the past year.
Canada has twice the ratio of vacant homes the US did before the great recession, indicating Canadian real estate may be in hypersupply.
US real estate firm CoreLogic has observed that as mortgage rates climb, credit ratings have started to slide across America.