[Video] How Long Will The Canadian Real Estate Correction Last, With BMO Senior Economist Robert Kavcic
Canada’s Young Adults Are Dumping Ontario For Alberta, BC, & Nova Scotia
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 […]
Over 1 in 4 of Canada’s Downtown Urban Homeowners Are In “Shelter Poverty”
Canadian real estate is some of the most expensive in the world, and incomes are struggling to keep up with it. Statistics Canada (Stat Can) Census 2021 data shows over a quarter of homeowners in urban downtowns are in shelter poverty. The term is used to define a household that spends more than 30% of […]
Canadian Mortgage Debt Is Slowing, But Growth Is Still Historically High
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 Is Heading For A Hard Landing, Real Estate Prices To Drop 30%: Oxford Econ
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 A Record Price Drop: Teranet-National Bank
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 Hasn’t Been This Unaffordable Since The 90s Bubble: BoC Data
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 […]
This Week’s Top Stories: Canada’s Big Banks Warn A Real Estate Shock & Hard Landing Are Coming
Canada’s large banks warn an “enormous” shock to real estate is coming, and a hard landing will start as early as this year.
Canadian Real Estate Fueled By Pre-Approvals, “Enormous” Shock Coming: BMO
Canadian real estate will see a second shock as mortgage pre-approvals secured at much lower rates fade, according to BMO.
Canada’s Worst Performing Real Estate Markets Are Toronto and Its ‘Burbs: BMO
Canada’s best performing real estate markets during the boom were in Southern Ontario, and now they’re the worst performing.
