Greater Toronto new home sales are on fire, everywhere but in the actual city. Data from Altus Group and BILD GTA shows new home sales had the biggest July in over a decade. Surprisingly, this trend is driven almost exclusively by suburban home sales. In the City of Toronto, new home sales have dropped by […]
Canada’s largest bank sees the immigration slump lasting a few years. RBC economists crunched the numbers, and saw a huge decline in the number of new permanent resident arrivals. In addition to the decline in arrivals, they also note a big drop in new applications. Since applications take months to process, the bank is seeing […]
Canada’s central bank is using billions to flood the mortgage market with cheap money. It hasn’t been very effective, considering the scale of the purchase. Bank of Canada (BoC) data shows a big mortgage bond buying spree since the beginning of the pandemic. The dollar value of the bond buying was known, but we’re only […]
Vancouver real estate has seen a big boost in buying activity, even condos. Real Estate Board of Greater Vancouver (REBGV) data shows sales jumped in July. The increase isn’t translating into the price gains seen in the general market though. This is due to the large number of new listings for condos, which hit the […]
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 […]
