The US real estate industry laughs at your negative outlook—they think things are about to boom. Realtor.com released its 2023 forecast this week, and noted the negative factors building. Their forecast includes higher financing costs, reduced leverage, fewer exist-home sales, and a lot more inventory. However, their forecast bizarrely concludes it will result in higher […]
Cracks in America’s booming job market are starting to appear, warned Canada’s oldest bank. BMO Capital Markets outlined a divergence between US payroll and household-survey employment. The bank warns this is the largest divergence on record, outside of the pandemic—indicating the market might be weaker than it appears. US Payroll and Household Employment The US […]
US home prices made lofty gains over the pandemic—a bigger run up than the one seen before the Great Recession. It’s going to be difficult to not see a significant chunk of those gains given back to the market, warned the Dallas Fed. Researchers from the US Federal Reserve branch warn severe recession is still […]
The US real estate market just went from hot to a recession in a matter of weeks. The National Association of Realtors (NAR) reported existing-home sales fell for a sixth consecutive month in July. Buyers are now buying the fewest homes since the start of public health measures. NAR even went so far as to […]
Canadian real estate is amongst the most expensive in the world, but it’s not due to materials or labor. RLB, a global consultancy for builders, released its annual North American construction guide for 2022. Major cities in Canada topped the list when it came to building cost growth. It’s not unexpected when Toronto is the […]
US housing is all of a sudden cooling very quickly. US Census data shows single-family home sales fell for a third consecutive month in June. The decline in sales helped to push new housing inventory to pre-pandemic levels. Prices are still elevated, but they did give back a significant amount of gains last month. US […]
Despite a booming US real estate market, foreign buyers have been sitting this one out. National Association of Realtors (NAR) data shows foreign buyers made a big drop in the year ending March 2021. The pandemic didn’t have much of an impact on budgets, but fewer buyers came to market. Foreign Buyers Spent 27% Less […]
About 6 years ago, deep-pocketed investors and institutions gathered at the Megatrends conference. Blackrock CEO Laurance Fink told them something that seemed unconventional in 2015. The two greatest stores of wealth internationally today is [one] contemporary art…,” said the $6 trillion asset manager. “And two… apartments in Manhattan, apartments in Vancouver, [and apartments] in London.” […]
Canada has lost the bragging rights to having some of the best cities in the world for livability. Economist Intelligence Unit (EIU) released their Global Liveability Index for 2021. New Zealand managed to claim the top spot, with Japan and Switzerland not too far behind. Canada dropped out of the Top 10 for the first […]
All but two U.S. real estate markets are seeing double-digit annual price growth. The S&P CoreLogic Case-Shiller Index shows February saw annual home price growth hit the highest level since 2006. Three of the Top 20 markets even hit an all-time record for home price growth. U.S. Home Prices Are Growing At The Fastest Rate […]
