Canadian immigration policy will seek to slow population growth, but the impact will vary by province. In a new BMO Capital Markets research note, the bank explains regions with the highest number of temporary residents will be impacted most. As a result, that means shelter costs in BC and Ontario will see the most immediate […]
Greater Toronto condo owners holding out for the monetary easing cycle got some bad news last month—it didn’t matter. Toronto Regional Real Estate Board (TRREB) data shows the benchmark (typical) condo apartment price plunged lower in September. The declines aren’t softening either, instead picking up pace and making one of the largest monthly drops on […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices To Correct After Immigration Cuts: BMO Canada’s oldest bank sees good news for affordability—actual affordability. In a research note to investors, BMO reiterates their belief that Canada has a housing demand problem, not a supply problem. Therefore the […]
Canada’s central bank sees the economy getting a big boost from falling rates. The latest Bank of Canada (BoC) forecast shows real gross domestic product (GDP) rising sharply next year. Falling rates are expected to drive a big jump in housing investment, boosting real GDP. Not surprising, most of the real estate industry also expects […]
Canadian households are celebrating cheaper credit after rates were further slashed. This morning the Bank of Canada (BoC) made its October rate announcement, slashing the overnight rate by 0.5 points in a single move. The “supersized” cut was widely expected by the market, but reinforces a troubling picture the central bank’s accompanying report confirmed. Canada’s […]
The Greater Canadian mortgage renewal cliff was largely overblown, according to the country’s largest bank. In its latest research note, RBC states that aggressive easing means that not all households will renew at higher rates, and the impact will be smaller than anticipated. They warn that doesn’t mean we’re in the clear, as a much […]
Canadians are more excited at the thought of cheap credit than actually getting it. Statistics Canada (Stat Can) data shows household credit grew in August—though at a slower rate than the month before. The mild acceleration in borrowing ahead of rate cuts reversed once the actual cuts were made. It potentially serves as a red […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Toronto & Vancouver Are Now The Weakest Real Estate Markets In Canada Toronto and Vancouver are traditionally Canada’s hottest real estate markets, leading the trend. If that still holds true, it might be a problem in the coming months. Experts believed the […]
Canadian real estate seems boring these days, but dramatic demand shifts are occurring. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) fell in September. At the national level, the drop was only slight but the composition shift was very unexpected. Booming cities like Calgary are now seeing the demand […]
Canadian housing starts are starting to lose momentum but they remain lofty. Canada Mortgage and Housing Corporation (CMHC) data shows a drop in housing starts for September. Despite the slow month, BMO notes the trend is still moving higher, especially considering the environment. The slowdown is contrary to policymaker efforts to triple new home starts, […]
