Greater Toronto households are starting to show a few cracks, after a big debt binge. Office of the Superintendent of Bankruptcy Canada (OSB) filings show insolvencies jumped in Q3 2019. The Greater Toronto region isn’t just showing a large climb for insolvencies. It’s been accelerating recently as well. Insolvencies Vs. Bankruptcies Insolvencies come in two […]
B-20 what? Never heard of him. Canadians are in a rush to take out mortgage credit once again. Bank of Canada (BoC) data shows a major jump in borrowing. The increase is some of the highest growth for mortgage debt, and is primed to explode even higher. Canadian Mortgage Debt Grows At The Fastest Rate […]
Greater Vancouver real estate market is seeing a big return from buyers. Real Estate Board of Greater Vancouver (REBGV) numbers show sales surged in November. Higher sales were accompanied by less inventory, helping to bring prices up for a second month. Despite the 2 months of rising, annual price growth remains negative. Although the gap […]
The Toronto real estate market is on fire again, as buyers send prices on a very large monthly climb. Toronto Real Estate Board (TREB) numbers show the composite price index reached a new high in November. The increase in prices for November is one of the biggest in history for the month. Greater Toronto Real […]
It’s the most wonderful time of the year – especially if you’re in real estate. Statistics Canada (Stat Can) released gross domestic product numbers for Q3 2019. The numbers show healthy growth for the economy – until you dive into them. A single-industry represented more than half of quarterly growth – real estate transactions. About […]
Canadians have been on a debt binge, and some cracks are starting to appear. The Office of the Superintendent of Bankruptcy Canada (OSB) saw an increased number of filings in October. Insolvency filings have been moving higher for the past year, especially in the consumer segment. Canadians Filed Over 139,000 Insolvencies Canadian insolvencies are rising […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Seniors Now Owe Over $3.88 Billion In Reverse Mortgage Debt Reverse mortgage debt reached a new record high in Canada, but the rate of growth continues to slow. The balance outstanding was $3.88 billion in September, up 26.43% from last […]
Greater Vancouver new home sales have been softer than last year, but inventory is drying up. Data from MLA Canada, a Vancouver based real estate firm, shows new project launches made a big decline in October. Falling new unit launches, follows soft sales leading up to last month. In response, developers have been delaying and […]
Greater Toronto new home sales are rising, but so is inventory as well. Altus Group data shows inventory reached a multi-year high in October. The rise in inventory was accompanied by higher sales too – just not in the City of Toronto. In the City proper, sales continue to make significant declines. Greater Toronto New […]
Canadian household debt is cheap to carry, but that could change soon. Bank of Canada (BoC) data shows the interest rates for households is climbing this month. Rates are still lower than last year, but they’re back to climbing higher. Effective Interest Rate The effective interest rate for households is a weighted index of what […]
