Everyone thinks their real estate market is hot, but they don’t realize they almost all are. Canadian Real Estate Association (CREA) data shows large home price gains in January. Not just for the year, but for the actual month. The increases were actually so big, almost two dozen markets saw prices climb 5-digits. The Price […]
Canada’s Expected Mortgage Credit Losses Reaches A Record $1.4 Billion
Despite Canada’s hot real estate market, lenders expect a record amount in losses. Statistics Canada (Stat Can) data shows expected credit losses (ECL) jumped in Q3 2020. ECLs are now at a record high according to the agency, but are a relatively small percent of total mortgage debt. It’s a little confusing, but expected losses […]
Canadian Bank: “Your House Makes More Than You Do,” Draw Your Own Conclusion
One of Canada’s largest banks brought attention to a warning sign in many real estate markets. BMO published a research note titled “Your House Makes More Than You Do,” by senior economist Sal Guatieri. The note focuses on how sustainable and long-term current housing trends are. I’m obviously kidding. It brings attention to the fact […]
Canadian Real Estate Sales Start The Year Off 35% Higher
Canadian real estate sales printed yet another record during the pandemic. Canadian Real Estate Association (CREA) data shows home sales in January 2021 hit a record. The new high for January sales came with a little slow down for growth. However, things have been so heated, even a double digit drop in growth is one […]
Over A Third of Toronto Real Estate Investors Plan On Selling Due To Vacant Home Tax
Toronto’s vacancy tax may have a big impact on real estate investors, according to a local board survey. The Toronto Regional Real Estate Board (TRREB) released the results of their survey, conducted by IPSOS in the fall. More than half of investors said they’ll either sell or rent their unit if a vacancy tax is […]
Canadians Under 35 See Net-Worth Climb, But Toronto Is A Big Exception
Canadian households saw net-worth make big gains over the past few decades. Using Statistics Canada (Stat Can) data from the recently released Survey of Financial Security (SFS), we can see how net-worth evolved for each age group from 1999 to 2019. Generally speaking, net-worth soared for most demographics. However, there are some notable exceptions, like […]
This Week’s Top Stories: Canadian Unemployment Tops G7 Along With Real Estate Price Growth, and Toronto Investors Look to Exit
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Unemployment Is 55% Higher Than G7 Average: OECD Canada has the fastest growing real estate prices in the G7… and the highest level of unemployment. The country’s rate is now 9.4% in January, up 67.86% from the same month last […]
Thousands of Toronto’s AirBnB Investors Plan To Sell This Year
Thousands of Toronto’s short-term rental investors may call it quits. An Ipsos Survey, commissioned by the Toronto Regional Real Estate Board (TRREB), shows how investors plan to navigate the city’s new short-term rental rules. Only a third feel their investment won’t be impacted by the new rules. The remainder either plan on selling, or finding […]
Canadian Households Tied To Parental Wealth, As Income Mobility Plummets: Stat Can
Canada was a place where kids can do much better than their parents, but that’s not so much the case now. A new Statistics Canada (Stat Can) study on Intergenerational Income Mobility and Income Inequality in Canada was published this week. Canada used to be a place with a low level of inequality, where kids […]
Canadian Employment Data Shows A K-Shaped Recovery Is Forming For Young People
Canadian unemployment is world class amounts of bad, but it’s even worse if you’re a young person in the country. OECD data shows the rate of unemployment amongst member states. Canada is currently a big stand out, with the highest rate amongst G7 countries. The unemployment trend isn’t evenly spread out though, with young people […]