Toronto real estate has seen pent up demand drive sales higher, but the impact on condos has been limited. Toronto Regional Real Estate Board (TRREB) data shows a fairly large uptick for condo sales in July. The increased sales volume has been met with sellers hitting the market at the fastest pace in at least […]
Canada’s largest real estate markets partially attribute fast climbing prices to immigration. However, with a significant decline in permanent residents, prices have yet to slow down. Government of Canada (GoC) data shows new permanent residents admitted to major markets dropped in June. The decline was most notable in Toronto and Montreal, where numbers are down […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Here’s What Canada’s Mortgage Deferral Cliff Looks Like, And Why Experts Are Worried Canadians suffering income losses had their mortgage payments deferred, but those deferrals are about to expire. During the pandemic, the government worked with banks to delay payments for […]
Canadian real estate buyers are jumping in head first, since the recession didn’t impact housing. However, since the beginning of the pandemic, experts said no issues would be apparent until the end of the year. The reason is a term only finance and banking nerds have been using – the deferral cliff. The deferral cliff […]
Canadians have a metric buttload of debt, and a lot of it’s not being paid, according to a big three credit bureau. TransUnion data shows the balance of accounts on payment deferrals is now over a quarter trillion at the end of Q2 2020. A significant share of the debt on payment deferrals is subprime, […]
Canada’s largest land registry and a big six bank are seeing a slight recovery, but things are beginning to trend lower. The Teranet–National Bank House Price Index (TNB HPI) shows prices increased in July. The increase however, was the smallest for the month in 15 years, and is actually a decline before seasonal adjustments. Canadian […]
Canadian real estate prices aren’t the only thing outpacing growth in the rest of the G7, so is debt. New data from the International Monetary Fund (IMF) shows the Canadian household debt to GDP ratio reached a new record high in Q1 2020. The data shows a clear pattern of rapid expansion of the indicator […]
Canadian real estate buyers are shrugging off the pandemic, as a temporary inconvenience. Canadian Real Estate Association (CREA) data shows prices made a huge increase in July. Not just in known “hot” markets like Toronto, and Montreal either. Substantial monthly increases were seen in almost every real estate market across Canada. Canadian Real Estate Prices […]
The head of Canada’s national housing agency isn’t done ruffling feathers. Evan Siddall, the CEO of Canada Mortgage and Housing Corporation (CMHC), a state-owned mortgage insurer, fired back at critics this morning. After his confidential email was leaked last week, some members of the real estate industry took to calling his statements “irresponsible.” The CMHC […]
Canadian real estate sales hit a new high, along with the highest unemployment in history. Canadian Real Estate Association (CREA) data shows the number of home sales set a record in July. Not just for the month either – it was the biggest month ever. Here’s why the surge was largely expected, and isn’t the […]
