The Greater Toronto condo market has been dominated by investors for years. That’s changing really fast, according to a new analysis from CIBC Economics. Over 4 in 5 investors with a condo apartment rental completed in 2024 are losing money, collecting less rent than they’re paying out. It’s a problem that’s long existed, but may […]
Canadian real estate is facing some of the worst market conditions in decades. That was the take in CIBC’s latest research paper, which warns investment has disappeared from the market. The problem is amplified in the Greater Toronto condo market, where investors represent over two-thirds of buyers. Complicating the issue further is a weak condo […]
US new home sales surprised market expectations this week, coming in much lower than expected. US Census Bureau data shows new home sales fell significantly lower than the consensus forecast for June. At the same time, inventory also climbed to a rarely-seen level, helping to push prices lower. US New Home Prices Have Fallen 9% […]
Canada’s central bank sees real estate becoming an even stronger part of the economy. Bank of Canada (BoC) announced a cut to its key interest rate this morning, as widely expected by markets. The central bank justified the decision by noting the progress made on inflation, as well as excess supplies and labor market slack. […]
The Bank of Canada (BoC) is widely expected to cut its overnight rate this week, but it won’t boost real estate activity. That was the take from BMO Capital Markets, which sees little to no impact from the move. In a research note to investors, the bank explains that bond markets have already priced in […]
Looking for office space in Toronto? You’re in luck, because there’s a whole lot of it waiting for new tenants, according to commercial real estate giant Avison-Young. Toronto office space available for lease surged into Q2 2024, as vacancies pile up and more companies offload surplus space. A fifth of the market is now available […]
Over the past few years Canadians have repeatedly heard of a labor shortage. Policymakers have suddenly gone silent on the issue, and surprise—there’s now a massive surplus of labor. BMO warns the increased competition will produce higher employment and lower wages. Not great news for labor, but good news for the central bank looking for […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s CMHC Internal Messages Show Housing Supply Narrative Is BS Canadian real estate prices are expensive because of a lack of supply, and building more should fix it—right? That’s been the narrative for years, but it’s not what the CMHC has been […]
Everyone in Canada will soon be able to afford a home. We just need investors to build more and rates to be cut, right? Anyone that can do basic math has probably been skeptical of that narrative and with good reason—even the people making those statements don’t believe it. Internal messages from the CMHC make […]
Canadian condo prices have been resisting a correction, but might be ready to give in soon. CREA data shows Canadian condo prices fell for a second consecutive month in June, wiping out most of the progress made this year. Condo prices have been relatively resilient despite rising interest rates, but historically weak demand and rising […]
