[Video] A Chat w/Ex-Bank of Canada Governor Stephen Poloz On Real Estate, Inflation, & Policy
Toronto Saw Zero New Single-Family Homes Sold, Condo Prices Trim $30k In A Month
Greater Toronto’s new construction housing has seen demand completely vaporize. Data from BILD GTA and Altus Group show new construction sales fell 90% in September. Prices are now falling, especially for condos which saw a $30k drop in the month. The segment was mostly bought by investors which have disappeared, helping inventory recover. Toronto New […]
This Week’s Top Stories: Canada’s Real Estate Wealth Boom Is Over And Is Now The Most Vulnerable Advanced Economy
Time for your cheat sheet on this week’s top stories. Canadian Real Estate The Canadian Real Estate Wealth Boom Is Over, Expect $1.6 Trillion In Losses: RBC Canadian real estate values soared over the past few years, helping to drive wealth. However, now that we’re past peak — RBC sees housing pulling wealth back. The […]
Bank of Canada Should Release The Inflation Index Data It’s Using: BMO
Canada’s oldest bank would like a little more clarity from the country’s central bank, going forward. BMO Economics wrote to investors this week, arguing the Bank of Canada (BoC) needs to be more transparent about their inflation data. After delivering a smaller-than-expected rate hike, the BoC presented a chart to justify its move. The data […]
The Canadian Real Estate Wealth Boom Is Over, Expect $1.6 Trillion In Losses: RBC
Canadian real estate sent household net worth soaring over the past few years, and now it’s taking some of it back. RBC Economics warned investors this week that the housing-fueled wealth boom is coming to an end. The last quarter showed the biggest drop in net worth on record, largely due to a housing correction. […]
Bank of Canada Hikes Rates Just Half-Point, Economy Not Strong Enough
Canada’s central bank surprised the market with a weaker-than-expected rate hike. Bank of Canada (BoC) raised the overnight rate 50 basis points (bps), hitting 3.75% — the highest in over a decade. It was double the typical pace, but the increase was still smaller than the market had priced. The central bank confirmed the market’s […]
Global Real Estate Downturn Can Kill Growth, Canada Most Vulnerable: Ox Econ
Global real estate is entering a downturn that will kill growth, and it’s the worst in Canada. That was the gist of numbers from Oxford Economics today. The macro-research firm crunched the numbers on housing as a share of GDP, and Canada had the highest share. As home sales and building slows, this will leave […]
Toronto Real Estate Is Slow, But It’s Still North America’s Construction Crane Capital
Low rates led to a high rise construction boom, and as they normalize things are slowing. Global real estate consulting giant RLB published the Q3 2022 update to its Crane Index. Toronto has seen a slight pullback from its peak, but the number of cranes is still elevated. High rise construction in Toronto still leads […]
Canadian Real Estate Prices Are Falling Faster Than They Did In The Financial Crisis
Canadian real estate investors finding comfort in the fact home prices didn’t fall much during the Financial Crisis, might want to look away. Land registry giant Teranet released its House Price Index for September, and it shows a sharp drop in home prices. The index, made in partnership with National Bank of Canada (NBF) is […]
Canada Has A Record Amount of New Housing Under Construction: BMO
Canada has a lot of new housing supply coming in the next few months, and it should provide market relief. The CMHC reported new housing starts remain historically elevated in September. BMO Capital Markets wrote to investors, explaining the units under construction have hit a record. Significant supply will hit the market in coming months, […]
