Canada’s “economy” is recovering faster than expected, but employment is lagging. The Organization for Economic Co-operation and Development (OECD), a group promoting trade between 37 advanced economies, published the latest unemployment rates for member countries. The data shows Canada is significantly behind its G7 peers, with only a few OECD countries worse off. Canada is […]
The majority of Toronto’s real estate investors are looking to cash in. A Toronto Regional Real Estate Board (TRREB) survey, conducted by Ipsos in Fall 2020, shows most investors are looking to sell in the next year. This is a record number considering cashing in on their gains. It’s not just the pandemic though, only […]
Canada’s national statistics agency reported real estate prices made the biggest gain in years — during a pandemic. Statistics Canada (Stat Can) data shows real estate prices increased in Q4 2020. The rise was the biggest since 2017, and is being attributed to low interest rates. The data is consistent with local real estate boards, […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Buying A Typical Home In Canada? Cities Now Require Incomes Of Up To $230,000 Buying a typical home across Canada is now out of reach for many, especially if it’s where the jobs are. A typical non-condo apartment in Toronto, requires […]
Mortgage rates might be low, but nosebleed home prices still make payments difficult. National Bank of Canada (NBC) data shows the household income required to carry a mortgage on a typical home in Q4 2020. The numbers in some regions are staggering, before even considering downpayments. In Toronto or Vancouver, the middle class can no […]
The first hurdle to buying a home in Canada is getting much higher – saving for a downpayment. A National Bank of Canada (NBC) analysis shows it took a record number of months to save a downpayment in Q4 2020. Households need to save for the longest period in history, passing even the late 1980s […]
Low income Canadians are going to have a heck of a time finding new rental housing. A Canada Mortgage and Housing Corporation (CMHC) analysis shows how much rental stock is affordable by income quintile in 2020. Affordability is defined as purpose-built units that cost less than 30% of each quintile income. For those that skipped […]
Greater Vancouver real estate is soaring, but it’s uneven across the region, and all segments. Real Estate Board of Greater Vancouver (REBGV) data shows prices generally advanced in December. Suburban homes represented most of the price gains. The City’s condo apartments even continued to see price growth decelerate. Greater Vancouver Real Estate Prices Rise 5.5% […]
Canada’s central bank has finally stopped juicing the mortgage market… or at least it’s taking a break. Bank of Canada (BoC) data shows December was the first ever drop in the amount of Canada mortgage bonds (CMBs) held. It’s too early to tell if it’s just temporary, or if it’ll start again. If the buying […]
Canadians act cheery, but most are feeling a big drop in the quality of their life during the pandemic. A Statistics Canada (StatCan) analysis shows how the average person’s life satisfaction has changed between 2018 and 2020. The agency found polarization in scores – a higher level at the top and bottom, with less middle […]
