Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Homebuyers With Small Down Payments Grows For The First Time In Years Insured mortgage credit, for those with smaller down payments, increased for the first time in years. The balance of insured mortgages reached $476.53 billion in Q2 2020, up […]
Canada’s national housing agency warned homebuyers with small down payments to stay out of the market. They may have just done the exact opposite. Bank of Canada (BoC) data shows insured mortgages returned to growth in Q2 2020. This is the first time in years that insured mortgage debt has shown growth. Meanwhile, uninsured mortgages, […]
Greater Toronto’s condo market is booming, but prices slipped from all-time highs. Toronto Regional Real Estate Board (TRREB) data shows sales reached a multi year high for August. The rise in sales was nothing compared to the increase of inventory though. The rate at which inventory grew was 10x that of sales, knocking prices lower […]
Canadian homeowners in their twilight years are drawing on their home equity at a rapid pace. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new record high in July. The debt is still showing double digit growth, but the rate has fallen to almost a quarter of peak. […]
Canada’s late Spring real estate market continues, but some of the pent-up demand has caught up. Canadian Real Estate Association (CREA) data show a new all-time record for August sales. The rise is largely due to the lockdown delaying the busy Spring season into the Summer. The result is an odd comparison period, that is […]
Canadian immigration numbers have resumed massive drops, after briefly showing improvement in June. Government of Canada (GoC) data shows permanent resident arrivals made big declines in July. The previous month had briefly seen the declines shrink in size, providing optimism to real estate markets. However, the month proved to be an anomaly, with the latest […]
Canadian households were in the biggest recession since the Great Depression, but it looks like an economic boom. Statistics Canada (Stat Can) data shows the household debt to income ratio dropped in Q2 2020. The ratio had grown to notoriously high levels in the past decade, which were wiped out overnight. The national statistics agency […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Understanding Pent-Up Demand In Real Estate, And How Central Banks Broke Markets Pent-up demand is a temporary rise in consumer buying, after a period of restraint. It normally appears at the end of a recession, but not this time. During recessions, […]
“It’s pent-up demand, bro – the market’s recovered” is one of the most common things I hear these days. Unfortunately, most people parroting the words don’t actually understand what they’re saying. Pent-up demand means a temporary surge of buying activity, that falls when demand catches up. Temporary being the key word. Under normal circumstances, this […]
Greater Vancouver detached real estate sales are still enjoying the delayed spring rush this summer. Real Estate Board of Greater Vancouver (REBGV) data shows detached sales had the biggest August since 2015. Prices are also seeing growth accelerate as well, but higher inventory levels mean it’s nowhere near as tight as half a decade ago. […]
