Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Mortgage Lenders Have Set Aside A Record Amount For Bad Loans Canada’s mortgage lenders are setting aside a record amount of money for bad mortgages. The loss allowance at large lenders reached $3.9 billion in Q3 2020, up 54.11% from […]
Canadian real estate sales are soaring, shattering quite a few records. Canadian Real Estate Association (CREA) data shows another monthly record in December. The annual rate of growth was also the highest rate since just after the Great Recession. The trend of higher growth is most likely going to last at least another six months. […]
Toronto’s millennials, and their kids, are moving to other parts of the province. Statistics Canada (Stat Can) data shows Toronto printed another net loss for intraprovincial migration in 2020. Tens of thousands more people left for other parts of the province than arrived. The trend of losses has been consistent for years, but ramped up […]
Canadian real estate price forecasts are so volatile, even the same firms can’t decide. RBC‘s senior economist released their real estate forecast, showing big gains for 2021. The forecast is contrary to the numbers RBC execs stated to investors, just last month. It’s not uncommon to have forecasts with different outcomes. However, it’s rare to […]
Canada’s real estate markets are booming, but lenders are preparing for mortgage losses. Bank of Canada (BoC) data shows the allowance for credit losses due to mortgages reached a record high in Q3 2020. The record was reached with the biggest surge in the annual rate of growth since the Great Recession. Allowance For Credit […]
Canada’s economy just became even more dependent on real estate. Statistics Canada (Stat Can) data shows residential investment soared to a record high in Q3 2020. The rate it’s grown over the past few months has far outpaced the economy. Consequently, residential investment is now the biggest percent of GDP it has ever been. Residential […]
The vast majority of Canadians want to work-from-home, according to a new analysis from Canada’s largest bank. In RBC’s 2021 outlook, the bank’s economists note millions more now work-from-home as of last October. The forced shift to remote work, now has the majority of Canadians hoping to work-from-home, at least part of the time. Despite […]
Canada’s largest real estate markets aren’t even close to seeing employment recover. Statistics Canada (Stat Can) data shows the number of employed people in the country slipped in December. The largest real estate markets moved in various directions last month. However, all have significantly fewer jobs than they did last year. Canadian Employment Slipped Lower […]
Canadian mortgage delinquencies are fairly boring these days, until you drill down and look at the demographic shift. Canada Mortgage and Housing Corporation (CMHC) data shows mortgage delinquencies were flat in Q3 2020. When looking at their age breakdown though, it shows delinquencies on mortgages held by seniors is soaring. Balancing out the statistic is […]
Time for you cheat sheet on this week’s most important stories. Canadian Real Estate Toronto And Vancouver Condo Buyers Warned By CMHC Still Getting Slaughtered The CMHC was totally wrong about the market. Or were they? It turns out a typical first-time condo buyer in Toronto and Vancouver have taken a big hit. Those […]
