Canadian real estate owners are stuck paying a buttload in penalties after trying to avoid taxes owed. New data from the Canada Revenue Agency (CRA) shows their crackdown on real estate owners/sellers has led to billions in recouped revenue. Data provided by the agency also shows they’ve collected substantial fines adding up to hundreds of […]
Non-resident investors find Canada’s real estate markets so nice they’re buying it twice… or thrice, sometimes more. Data from the Canadian Housing Statistics Program (CHSP) shows substantial non-resident homeownership. Not new, but what is surprising is the share of non-residents, who have income tax obligations in another country, that owned multiple homes in 2020. Over […]
Canadian real estate is much worse than thought according to a Big Six bank, and investors bought most new condos.
Canadian mortgage debt has been soaring, and it’s entirely due to uninsured borrowing. Bank of Canada (BoC) data shows mortgage debt was still rising in May, despite falling home sales. Drilling down into the numbers reveals it was entirely uninsured mortgage growth. The insured segment, with smaller down payments and often first-time buyers, is falling. […]
Many Canadian real estate buyers at the March 2022 that left a minimum down payment might be holding property worth less than they borrowed.
Higher Canadian mortgage rates will reduce disposable income, but the reduction is much smaller than the current rate of inflation.
BMO made a downward revision to its Canadian real estate forecast as the bank notes a surge in cancelled listings and failed closings.
Canadian variable rate mortgage costs are rising, but National Bank of Canada doesn’t see the “trigger rate” being hit.
Toronto real estate is suddenly so cold zero new single-family homes sold in June, but inventory has yet to bounce.
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.
