Greater Vancouver real estate prices are dropping, but buyers aren’t interested. Real Estate Board of Greater Vancouver (REBGV) numbers show prices rolled back almost two years of gains as of March. Prices are now in free fall, as sales printed a multi-decade low and inventory popped higher. Vancouver Real Estate Prices Drop Over 7% The […]
Toronto real estate buyers are dropping like flies, but prices are holding. Toronto Real Estate Board (TREB) numbers show prices increased in March. The rise in prices came with the fewest sales since 2009, and second highest inventory since 2014. Toronto’s Proprietary “Benchmark” Rises The price of a typical home in Greater Toronto increased. TREB […]
Borrowing rates are sliding before the traditional busy season for Canadian real estate. Bank of Canada (BoC) numbers show the effective borrowing rate peaked in early March. Shortly after printing the highest number since the Great Recession, the rate dropped. The minor drop made headlines, but only really impacts people shopping in that window. The […]
Canadian real estate sales are still falling, and dragging mortgage credit with it. Bank of Canada (BoC) numbers show mortgage debt reached a new high in February. Despite hitting a new high, the annual pace of growth hit the lowest level in almost 36 years. Canadians Owe Over $1.55 Trillion In Mortgage Debt Canadian mortgage […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Households Are Just 0.01 Points From The Mother Of All Debt Records Canadian households are paying a near record amount to service their debt. The debt service ratio (DSR) reached 14.87% in Q4 2018, up 5.46% from last year. […]
Canadian household finances took another hit last year. Statistics Canada (StatCan) numbers show the debt servicing ratio (DSR) is at a multi-year high as of Q4 2018. The amount of income spent maintaining debt is now at a level not seen since 2007. The volume of debt has effectively wiped out the household benefit of […]
Vancouver’s condo market continued to slide last month. Real Estate Board of Greater Vancouver (REBGV) numbers show February sales hit the lowest level since 2009. The drop in sales combined with rising to make the largest price drop since the Great Recession. Vancouver Condo Prices Make Biggest Decline Since 2009 The price of a condo […]
Toronto is seeing fewer condo buyers, but they’re willing to pay more. Toronto Real Estate Board (TREB) numbers show the benchmark price of a condo apartment reached a new all-time high in February. Record prices came as sales dropped, and inventory climbed to a multi-year high for the month. Toronto Condo Prices Reach A New […]
House rich, cash poor Boomers across Canada are sending reverse mortgage debt soaring. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt made a slight decline in January. The monthly decline didn’t slow the annual pace of growth all that much. Outstanding reverse mortgage credit is growing at […]
Slowing of the Greater Vancouver real estate market is hitting pre-sale condos. Numbers from MLA Canada, a condo pre-sale marketing agency, show new projects are seeing slow absorption in February. The slowing of sales is sending relative demand to levels that could send prices lower. Greater Vancouver New Condo Sales Are Plummeting Greater Vancouver condo […]
