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. […]
Greater Toronto real estate has seen sales surge, and the detached market is leading the way. Toronto Regional Real Estate Board (TRREB) data shows detached sales nearly reached a record high in August. Most of the activity surge has been in the 905 suburbs, but the City’s buyers don’t seem to have noticed. The City […]
Most Canadians believe they’ll be able to pay their mortgage during the pandemic, it just won’t be easy for all. Mortgage Pros Canada (MPC), an industry group representing mortgage brokers, conducted a borrower survey on the impact of the pandemic. The survey yielded a number of interesting insights, but the most interest was the ability […]
Canada’s largest city has claimed the top spot for the rate of people in poverty, across the country. Statistics Canada (Stat Can) data released this morning shows a drop in at least one measure of poverty across the country. As expected, the drop was uneven though, with some of Canada’s major cities seeing a sharp […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Big Six Banks Set Aside Over $6 Billion For Credit Losses Canada’s Big Six banks have set aside billions of cash to prepare for losses on loans. Provisions for credit losses (PCLs) reached $6.76 billion in Q3 2020 at the […]
Canadian banks are starting to see mortgage payment deferrals expire, and households resume payments. Canada’s Big Six banks reported Q3 earnings last week, which ended on July 31, 2020. Mortgages on payment deferrals have dropped by nearly a fifth in the latest quarter. While that doesn’t tell us how many people actually needed the deferral, […]
Greater Toronto real estate’s brief pandemic lull is over, and the market is picking up where it left off. Toronto Regional Real Estate Board (TRREB) data shows prices reached a new all-time high in August. The increase comes even as sellers hit the market at a much faster pace than buyers. The suburbs are still […]
