Canadian real estate owners are turning to non-bank lenders across the country. Statistics Canada (Stat Can) released the first results of its Survey of Non-Bank Mortgage Lenders. Unfortunately, since it’s the first survey, historical comparisons can’t be made. Though it does shine a light on a relatively opaque industry. The most interesting insight revealed is […]
Canadian household debt issues are surfacing in some of the country’s largest cities. Office of the Superintendent of Bankruptcy (OSB) filings show an uptick in a few urban markets in Q1 2019. The uptick was most notable in Toronto, Vancouver, and Calgary. In the opposite direction was Montreal, which is seeing insolvency filings drop to […]
Greater Vancouver’s detached real estate market slipped a little lower last month. Real Estate Board of Greater Vancouver (REBGV) numbers show prices dropped in June. Prices for the market dropped as inventory made a small decline, and sales had the worst June in almost 30 years. Greater Vancouver Detached Real Estate Prices Are Down Over […]
Greater Toronto’s detached real estate market is improving, but still far from recovered. Toronto Real Estate Board (TREB) numbers show year-over-year improvements in June. Numbers are better compared to last year, but the market has a long way to go to get back to normal. The biggest improvements are in the 905, which is seeing […]
Canada kicked off another multi-year record for housing starts last month. Canada Mortgage and Housing Corporation (CMHC) data shows a large increase for housing starts in June. The rise pushes new housing starts in large urban areas to the highest level in over a decade. Why Housing Starts Are Important New housing starts are a […]
Canada’s real estate sector is making a shift. Statistics Canada (Stat Can) data shows FIRE sector jobs made a small decline in June. The aggregate movement was small, but most of the gains are being made in smaller provinces. Larger provinces like Ontario and Quebec lost thousands of jobs in the sector last month. FIRE […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Household Debt Had The Slowest May Growth Since 1983 The growth rate of Canadian debt continues to fall to levels not seen in years. Bank of Canada estimates the balance of household debt reached $2.19 trillion in May, up 3.4% […]
Canadians are a little more cautious about borrowing these days. Bank of Canada (BoC) numbers show household debt reached a new all-time high in May. Even though the balance is at a record high, the rate of growth is rapidly cooling. Canadian household debt grew at the slowest rate for May since 1983. Canadian Household […]
Vancouver real estate’s rough patch became a little more bumpy last month. Real Estate Board of Greater Vancouver (REBGV) numbers show prices made another decline in June. The market experienced a drop in prices, sales plummeting, and inventory soaring to a multi-year high. Vancouver Real Estate Prices Fall To Lowest Level Since May 2017 The […]
Toronto real estate continues to trend higher, but isn’t quite there yet. Toronto Real Estate Board (TREB) numbers show prices advanced in June, and are a few points below the high. The rise in aggregate price measures, are largely due to an increase in demand for detached homes in the 905. Meanwhile “cheaper” Toronto condos […]
