Canadians are starting to feel the impact of their debt-driven spending spree. Statistics Canada (StatsCan) numbers show the debt service ratio reached a multi-month high. In Q2 2018, Canadians spent the most servicing debt since 2008. Mortgage debt was the big news though, as households spend the most since 1993 to stay afloat. Debt Service […]
Canadian real estate used to borrow more debt reached a new record higher. Office of the Superintendent Financial of Institutions (OSFI) filings show the balance of loans secured by homes reached a new high in July 2018. The vast majority of the balance is due to personal loans like HELOCs, which are actually seeing growth […]
The Canadian real estate industry expects sales to slow further than previously thought. Canadian Real Estate Association (CREA) economists have revised their annual forecasts. The good news is the summer was better than expected, leading to an improved outlook for 2018. The bad news is the ambitious 2019 forecast is looking less ambitious. CREA now […]
Canadian real estate sales continue to cool, after spending years at record highs. Canadian Real Estate Association (CREA) numbers show August sales came in lower. That’s on top of last year’s declines, making it the slowest August since 2013. Canadian Real Estate Sales See Slowest August Since 2013 Canadian real estate sales experienced a small […]
Toronto detached homes might have slipped from highs, but condo apartments pushed higher. Toronto Real Estate Board (TREB) number show condo apartment prices reached an all-time in August. Higher condos prices came with inventory and sales that were mostly flat from last year. Toronto Condos Hit A New All-Time High The price of a typical […]
Time for your weekly update on this week’s most important news. Canadian Real Estate Canadians Add An Average Of $187,000 Per Minute To The Household Debt Balance Canadians printed a new record for household debt, but the rate of growth is slowing down quickly. The balance of household debt reached $2.13 trillion in July, up […]
Canadians are facing the fastest hike to borrowing costs since before the Great Recession, and it’s going to hurt real estate sales.
Canadian real estate prices are seeing slowing growth, but still printed a new record. The Teranet–National Bank House Price Index (Teranet HPI) shows a major slowdown in August. Canada’s largest markets saw the slowest price growth they’ve seen since 2009. What’s The Teranet HPI? The Teranet HPI is a price index created by National Bank […]
The Toronto real estate sold data drama continues, after less than a month of being published. Toronto Real Estate Board (TREB) notified members that there have been reports of false sold data being submitted to the MLS. Agents looking to “protect” consumer privacy have submitted false sold information, to obfuscate how much was really paid […]
Cooling Canadian real estate prices are dragging rental price growth. Numbers from the rental platform rentals.ca show 1 bedroom prices increased in markets with slower price gains last year. However, last year’s red hot real estate markets are experiencing slow to negative growth – especially around the Greater Toronto-Hamilton Area. Canada’s Most Expensive Rental Market […]
