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 […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada Doubled Down On Real Estate In 2005. Now It’s The Biggest Bubble The G7 Has Ever Seen, And It’s Getting Bigger Canadian real estate prices have grown rapidly, but it’s not clear how much more rapidly it grew than its […]
Greater Toronto real estate buyers rushed into the market, even amongst pandemic warnings. Altus Group data shows new home sales more than doubled in February. The impact on prices was mixed, as new single-family homes continued to fall. Condo apartment prices rallied to a new all-time high. The gap between the two narrowed to the […]
Canadians know real estate prices have grown quickly, but most have no idea how it compares to the world. US Federal Reserve Bank of Dallas (US Fed) data shows how home prices evolved since the Financial Crisis. While most countries scrambled to balance home prices with local economic growth, Canada doubled down on housing. The […]
Canada’s national housing agency discreetly asked lenders to curb risky lending. Evan Siddall, the head of the Canada Mortgage and Housing Corporation (CMHC) sent a confidential memo to lenders this week, requesting they tighten lending. Instead of taking the advice, the industry leaked parts of the memo. The CMHC has responded by releasing the whole […]
Canadian real estate markets are about to see an explosion in rental inventory if Toronto is a sign. Toronto Regional Real Estate Board (TRREB) data prepared by real estate agent Daniel Foch shows an explosion of new listings for rental units in July. The number of new listings has reached a multi-year high, with a […]
Canadian real estate developers are scrambling to get shovels in the ground. Canadian Mortgage and Housing Corporation (CMHC) data shows new home starts jumped in July. The surprisingly fast bounce in starts means Canada is seeing the most starts since 2017 – despite the pandemic. Canadian New Home Starts Reached The Highest Level Since 2017 […]
