Greater Vancouver real estate prices are rising at an even faster past these days. Real Estate Board of Greater Vancouver (REBGV) data shows home prices hit a new record high in April. Home prices were already fast growing, but the annual rate went parabolic in February. This is shortly after a series of statements from […]
Canadian real estate development is on fire, only when it comes to homebuilding. Statistics Canada (Stat Can) building permit data shows a record value hit in March. Virtually all gains were due to residential building permits though. Commercial permits fell significantly though, as the pandemic weighs on business investment. Canadian Building Permits Reached A Record […]
Canada’s central bank made an unusual move last month — it discredited its own inflation position. National Bank of Canada (NBC) deputy chief economist Matthieu Arseneau is “puzzled” why. In his latest report, he questions why the Bank of Canada (BoC) thinks its preferred measures overstate inflation. The economist took a dive through the data […]
New home listings in Greater Toronto found a lot of deep-pocketed buyers in March. BILD GTA data shows new home sales had the second-biggest March in the past 20 years. People must really want a new home in Toronto, because prices jumped hundreds of thousands of dollars in just a year. Greater Toronto New Home […]
Falling mortgage interest rates didn’t give much relief to Canadian real estate buyers. Canada Mortgage and Housing Corporation (CMHC) data shows the average monthly payment for new mortgages increased in Q4 2020. The size of the increase isn’t all that important, so much as the fact it increased at all. Mortgage rates were cut by […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Market “Bubble” May Crest Soon, So Buyers Make Sure You Love That Property: BMO BMO is warning investors to make sure they really want that property, because they may be stuck with it for a while. The bank is seeing the […]
Canadian companies have been scaling back on office space, reversing the pre-pandemic scramble that made it scarce. BMO senior economist Sal Guatieri looked at commercial office space in his latest note. The bank found long-term tenants locked into space are paying their bills just fine. However, companies that could, have been scaling back on the […]
Home prices are expensive. Let’s build more homes, and the cost of all of them will become affordable. It’s supply and demand… like your local politician and mysteriously funded community group always say. Except homes are being built and delivered at a record pace, way in excess of population growth. You’re getting a little suspicious. […]
America’s flight from big cities to small ones continues, and it’s really driving rental prices up. Data from Zumper, an online rental portal, show the median price of a one-bedroom is just a little higher in April. Virtually all of the gains are attributed to soaring prices in small cities. Traditionally expensive markets are actually […]
Canadian households are facing a third wave, while watching the U.S. get back to normal. Naturally it’s wearing on consumer confidence. BMO economist Priscilla Thiagamoorthy’s latest analysis shows U.S. consumer confidence soared in April. Canada is seeing the exact opposite happen — consumers are growing more pessimistic. The bank says this should subside in the […]
