Canadians have no problem borrowing money, they just won’t do it for anything but a house. Bank of Canada (BoC) data shows household credit reached a new record high in April. The rate of growth was the fastest seen in nearly half a decade. Canadian housing mania has few people spending on anything but a […]
Canadian homebuyers are soul searching, and asking a higher power for advice — Google. Google has seen a surge of search activity for the question, “Should I buy a house?” The question peaked in activity in April, the month after record home sales. It made an abrupt drop the next month, after home sales fell […]
One of Canada’s top economists found the latest employment numbers “odd.” BMO chief economist Douglas Porter’s latest research note looked at employment data. Statistics Canada (Stat Can) data shows April payrolls rising, but employment falling. The agency attributed these conflicting trends to a lag in payroll, which they say is typical. Porter pulled the receipts […]
Canada’s largest bank sees the real estate market cooling down soon, especially for new homes. RBC Economics has forecast a sharp decline in new housing starts. The “Big Six” bank expects new building to slow down in the second quarter of this year, and taper into Q3 2022. This will result in a sharp fall […]
Rising home prices across Canada have increased so much, many homeowners can’t afford to sell. Zillow Canada commissioned a new survey via Ipsos on buying and selling real estate. Buried amongst the usual insights on things like affordability was an unusual insight for sellers. A quarter of homeowners ready to sell haven’t listed, because they […]
The Canadian property bubble is now receiving some international attention. Bloomberg Economics ranked housing bubbles across the OECD. Second on that list is Canada, which came in just a few points under New Zealand, the king of froth. Global Property Bubbles Are Synchronizing Countries that made headlines for frothy home prices recently, were the largest […]
The US real estate boom is looking a little bubbly in one more way — a surge in new Realtors. The National Association of Realtors (NAR) saw membership soar in May. Membership is now growing at the highest rate since 2006, as more people try to get in on the gold rush. It’s going to […]
A large Canadian financial institution sees housing investment moderating soon. Desjardins has forecast residential investment will begin tapering in the second quarter of this year. They also see negative growth next year, as other segments of the economy start to draw in some dollars. Canadian Residential Investment Grew 43% Residential investment has seen obscene growth […]
The US new home market is cooling to pre-pandemic levels of activity, except price growth. US Census data shows new home sales for May came in at the lowest level this past year. Falling sales have helped to lighten the pressure on inventory. The only thing that looks nothing like last year is price growth. […]
More Canadian mortgage borrowers are betting the economy won’t get much better. At least, they’re unintentionally placing that bet with their mortgage borrowing terms. Data from the Bank of Canada (BoC) shows big growth for uninsured mortgage credit extended in April. It actually saw the largest annual growth on record, driven by a surge in […]
