Time for your cheat sheet on this week’s most important stories. Canadian Real Estate CMHC Warned Buyers Not To Buy A Condo. Some Are Now Officially Underwater People that bought a condo after the pandemic was declared aren’t doing so hot. Across Greater Toronto, buyers of a benchmark condo in April have seen the minimum […]
Condo buyers in Canada’s largest real estate markets might be breaking a sweat. In April, Canada Mortgage and Housing Corporation (CMHC) warned first-time buyers about buying a condo at this time. Despite the warning, many went ahead and bought one in May. If they made the minimum downpayment, there’s a good chance most of their […]
Canada was building a lot of homes before the pandemic, and they’re arriving. Unfortunately, there’s not nearly as many people to fill them as expected. The number of homes completed was more than twice as high as the population growth in Q3 2020. The ratio is more than seven times higher than it was during […]
The Greater Toronto real estate market divide is becoming more clear as city prices drop. Toronto Regional Real Estate Board (TRREB) data shows real estate prices in October were flat from a month before. While suburban 905 prices climbed, the City saw prices inch lower. This trend was amplified in Condo apartments, where City units […]
Greater Vancouver’s real estate market is on fire… or ice cold, depending on what you’re selling. Real Estate Board of Greater Vancouver (REBGV) data shows composite prices pushed higher in October. Further inspection shows two very different markets. Detached homes are scarce for the level of activity, while condo sellers are flooding the market. Vancouver […]
Canadian consumers are running out of cash, according to a Big Three credit agency. TransUnion’s latest household survey on October 4th, shows a rise in consumers who are seeing the shortfall to cover bills. The gap between what they can pay and payment obligations, is now surging higher. Despite the bad news, consumers now have […]
Canada’s mortgage debt binge is accelerating to the fastest pace in years. Bank of Canada (BoC) data shows mortgage debt reached an all-time high in September. The record high came with abrupt, accelerated growth, due to pent up demand. Canadian Mortgage Debt Tops $1.71 Trillion Canadian mortgage debt held by institutional lenders surged to a […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate RBC Forecasts Canadian Mortgage Defaults Will Start Rising Next Year Canada’s largest bank is forecasting mortgage defaults are still coming, just a little later. RBC is forecasting rising defaults in Q3 or Q4 of 2021. The reason? Programs like EI, CERB, […]
Politicians are increasingly discussing broad upzoning as a housing affordability solution. Instead of one home on a property, you can now build two homes on the same amount of land. All across the city, in some cases. The assumption is if there’s two homes on a property, it’ll be half the price. Makes sense, right? […]
Canadian real estate sales have been impacted by the pandemic in an unexpected way. RBC Economics recently unpacked a trend of rising condo apartment listings. Dense cities filled with condo apartments, are seeing sellers flood the market. Meanwhile, mostly detached suburban markets are seeing inventory heading in the opposite direction. Toronto Condo Listings Rise 134% […]
