This week’s top real estate stories: Canada’s vacant home problem, Toronto real estate is slowing down, and Vancouver is booming…again.
China’s capital outflows continued to rise, and expect that number to accelerate soon as new anti-money laundering measures are rolled out.
Toronto real estate makes a sharp turn. Prices growth is slowing, sales are dropping, and inventory is hitting highs.
Don’t expect Mainland Chinese real estate investors to make it rain in 2017. At least, not to the extent they did last year.
Vancouver real estate prices are making surreal movements, with the benchmark price increasing a whopping $1,006 dollars per day last month.
Domestic real estate investment in China is dropping, and government cooling measures are expected to flood inventory soon.
Foreign buyers accounted for 4.7% of Toronto area real estate purchases. This includes people eligible for the foreign buyer tax rebate.
Canada has twice the ratio of vacant homes the US did before the great recession, indicating Canadian real estate may be in hypersupply.
Canada gets flagged for a financial crisis…twice, Vancouver’s subprime buyer program is spiking prices, and inflation plummets.
Vancouver real estate fetches a premium because of the business being done on the land, but no one’s measuring it. Don’t worry, we just did.
