Canadian Real Estate Is Worse Than Official Data Shows, BMO Revises Forecast Lower
BMO made a downward revision to its Canadian real estate forecast as the bank notes a surge in cancelled listings and failed closings.
Canada’s Variable Rate Mortgage Borrowers Aren’t In For The Mayhem Media Expects
Canadian variable rate mortgage costs are rising, but National Bank of Canada doesn’t see the “trigger rate” being hit.
Toronto Real Estate Developers Sold Zero New Single-Family Homes Last Month
Toronto real estate is suddenly so cold zero new single-family homes sold in June, but inventory has yet to bounce.
Canadian HELOC Debt Hits A 9-Year High For Growth, An Abrupt Surge In Borrowing
Canadian HELOC debt is starting to surge as homeowners tap their home equity at a time when credit is tightening and home prices are falling.
Canadian Cities Have Seen Investors Buy Up To 100% of Newly Constructed Condos
Most condo apartments built since 2016 have non-occupying ownership across Canadian real estate markets, according to 2020 property records.
This Week’s Top Stories: Canada’s Banks On Real Estate’s “Historic Correction” & Supply Shortage “Myth”
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Expected To See A “Historic Correction,” Biggest Drop Ever: RBC Canada’s largest bank feels we are in the middle of a “historic correction.” RBC said the housing downturn is much faster and deeper than expected. Consequently, they’re downgrading their […]
Canadian Mortgage Debt Tops $2 Trillion, Likely To Soon Eclipse Size of GDP
Higher interest rates are slowing mortgage borrowing but debt is still growing fast. Bank of Canada (BoC) data shows outstanding mortgage credit climbed in May 2022. Falling home sales are beginning to erode the pace of borrowing. Even with the minor slowdown, mortgage debt is likely to surpass the size of GDP soon. Canadian Mortgage […]
Canadian Real Estate Expected To See A “Historic Correction,” Biggest Drop Ever: RBC
Canada’s largest bank sees the country’s real estate bubble popping like no other. Last week we explained RBC is getting ready to revise its forecast lower, and they made it official today. The bank explained to investors the correction will be larger than previously expected. They’re now forecasting the largest downturn in history for both […]
A Lot of Canadian Real Estate Owners Decided To Own 4 Or More Homes In 2020
When the pandemic hit Canadians bought as much toilet paper and real estate they could find. We took a dive through data provided by the Canadian Housing Statistics Program (CHSP) on homeownership in 2020. A massive share of Canadian homeowners aren’t stopping at 1 home, but provinces have seen up to 1 in 5 owners […]
Canada’s Real Estate Bubble Went Into Hyperdrive Compared To G7 Peers: US Fed Data
The Canadian real estate bubble is kind of like a plane. People on it know it’s going fast but being inside of it means you don’t really appreciate the speed. On the outside though, the bubble looks like it just broke the sound barrier, especially in contrast to its G7 peers. US Federal Reserve data […]
