The average sale price of Canadian real estate is falling, and fast. Canadian Real Estate Association (CREA) numbers show the average price of a home is down 11.3% in April 2018. Most of the declines are being attributed to the country’s largest and fastest falling real estate market – Toronto. Yeah, I haven’t heard of […]
House rich, cash poor Canadian Boomers are tapping their real estate wealth using reverse mortgages. Reverse mortgages are a relatively small form of debt, but the high rate of growth has the multi-billion balance on track to double every few years.
Vancouver real estate debt has been soaring, but how much other debt do households have? Equifax numbers from the Canada Mortgage and Housing Corporation (CMHC) show that the majority of debt is real estate related, but there’s still a whack of consumer debt. When broken down into payments, more than a third goes to servicing […]
Montreal real estate debt is rising, but how much other debt do households have? Equifax numbers from the Canada Mortgage and Housing Corporation (CMHC) show that the majority of debt is real estate related, but there’s still a lot of consumer debt. When broken down into payments, consumer debt requires even more cash to service. About […]
Toronto real estate debt has been soaring, but how much other debt do households have? Equifax numbers from the Canada Mortgage and Housing Corporation (CMHC) show that the majority of debt is real estate related, but there’s still a whack of consumer debt. When broken down into payments, consumer debt requires nearly as much cash […]
Last year’s hottest real estate markets, are this year’s fastest cooling ones. Canadian Real Estate Association (CREA) numbers show the majority of markets saw the sales-to-new listings ratio (SNLR) decline significantly in April. There were a few markets that are seeing the ratio rise, almost all located East of Toronto. The fastest cooling markets were […]
Time for your weekly cheat sheet on this week’s top real estate stories. Canadian Real Estate Canadians Borrowed Another Billion Against Their Homes Over A 31 Day Period Canadians are increasingly tapping their home equity for short-term loans. Total HELOC balances reached $284.64 billion in outstanding debt. That means Canadians racked up an extra $994 […]
Canadian real estate continues to be used as an ATM to drive the economy. Office of the Superintendent of Financial Institutions (OSFI) numbers show the balance of loans secured with homes hit a new high in March. While the outstanding balance did hit a new all-time high, we did witness the first taper of growth […]
Toronto condos printed a new all-time high for the fifth consecutive month. However, rapidly decelerating price growth may indicate we’re approaching the end of this run.
Canadian real estate sales see the slowest April since 2009, with Toronto and Vancouver leading the declines.
