Is Canadian real estate a bubble, and is the Fourth Industrial Revolution setting us up for even further inequality? These are just a sample of insights former Bank of Canada (BoC) Governor Stephen Poloz shared with us in our interview last week. For those that don’t have time to watch the whole thing (you probably […]
Toronto must have found more land because prices are plummeting for real estate. Toronto Regional Real Estate Board (TRREB) data shows prices fell sharply in October. A typical home (composite benchmark) has seen prices fall over a quarter-million dollars. They’re still dropping and breaching important psychological levels as well. Greater Toronto Real Estate Prices Fell […]
Canada’s real estate industry wanted weaker stress testing, but it may have been too weak. That’s the take from BMO Capital Markets, who recently crunched the numbers. As interest rates climb, the majority of borrowers will be able to easily manage higher costs. However, recent buyers are facing rates even higher than they had been […]
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 […]
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 […]
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 […]
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. […]
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 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 […]
