Ontario real estate will rise forever, since young adults wouldn’t move, right? That’s not what interprovincial migration data from Statistics Canada (Stat Can) shows. We talked about Ontario’s record outflows in Q2 2022, yesterday. The demographic moving deserves a deeper dive though, and where they’re moving is an important point to consider. A perfect storm […]
Canada’s mortgage debt boom is slowing but still remains historically elevated. Bank of Canada (BoC) data shows outstanding mortgage credit hit a new record in July. Higher interest rates are throttling growth, as they shrink borrowing credit capacity. Even so, annual growth is still at a level rarely seen outside of Canada’s frothiest market cycles. […]
Canada’s economy and real estate are in for a hard landing that kicks off within six months, warned Oxford Economics.
Canadian real estate prices just made the largest monthly drop ever in the history of the Teranet-National Bank House Price Index.
Canadian real estate affordability is getting worse as the market adjusts to higher rates. A Bank of Canada (BoC) update to its Housing Affordability Index (HAI) shows a sharp climb in Q2 2022. An average household now requires nearly half their income to service a mortgage. It’s a level rarely seen in Canada, and experts […]
Canada’s large banks warn an “enormous” shock to real estate is coming, and a hard landing will start as early as this year.
Canada’s best performing real estate markets during the boom were in Southern Ontario, and now they’re the worst performing.
Canadian real estate prices are now back to the lowest level since November 2021, with annual growth likely to turn negative soon.
RBC no longer sees a soft-landing as a possibility, and now expects a moderate recession will kick off as early as the end of this year.
Canadian households saw their net work drop by $1 trillion in Q2, the largest quarterly decline in history.
