Canadian Real Estate Affordability Hits Worst Level Since The 90s: Bank of Canada
The Bank of Canada Housing Affordability Index shows it hasn’t been this hard to buy a home since the early 90s real estate bubble.
Over 1 In 10 of Canada’s Non-Resident Real Estate Owners Have Multiple Properties
Non-resident investors find Canada’s real estate markets so nice they’re buying it twice… or thrice, sometimes more. Data from the Canadian Housing Statistics Program (CHSP) shows substantial non-resident homeownership. Not new, but what is surprising is the share of non-residents, who have income tax obligations in another country, that owned multiple homes in 2020. Over […]
This Week’s Top Stories: Canadian Real Estate Outlook Worsens & Investors Own Most New Condos
Canadian real estate is much worse than thought according to a Big Six bank, and investors bought most new condos.
Canada’s Mortgage Boom Is Almost Entirely Uninsured As Investors Take Over
Canadian mortgage debt has been soaring, and it’s entirely due to uninsured borrowing. Bank of Canada (BoC) data shows mortgage debt was still rising in May, despite falling home sales. Drilling down into the numbers reveals it was entirely uninsured mortgage growth. The insured segment, with smaller down payments and often first-time buyers, is falling. […]
Many of Canada’s Peak Real Estate Buyers Might Already Be Underwater
Many Canadian real estate buyers at the March 2022 that left a minimum down payment might be holding property worth less than they borrowed.
Canada’s Rising Mortgage Rates Is Bad News For Borrowers, But Not The Economy: NBF
Higher Canadian mortgage rates will reduce disposable income, but the reduction is much smaller than the current rate of inflation.
Canada’s Variable Rate Mortgage Borrowers Aren’t In For The Mayhem Media Expects
Canadian variable rate mortgage costs are rising, but National Bank of Canada doesn’t see the “trigger rate” being hit.
Canadian Cities Have Seen Investors Buy Up To 100% of Newly Constructed Condos
Most condo apartments built since 2016 have non-occupying ownership across Canadian real estate markets, according to 2020 property records.
This Week’s Top Stories: Canada’s Banks On Real Estate’s “Historic Correction” & Supply Shortage “Myth”
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Expected To See A “Historic Correction,” Biggest Drop Ever: RBC Canada’s largest bank feels we are in the middle of a “historic correction.” RBC said the housing downturn is much faster and deeper than expected. Consequently, they’re downgrading their […]
Canadian Mortgage Debt Tops $2 Trillion, Likely To Soon Eclipse Size of GDP
Higher interest rates are slowing mortgage borrowing but debt is still growing fast. Bank of Canada (BoC) data shows outstanding mortgage credit climbed in May 2022. Falling home sales are beginning to erode the pace of borrowing. Even with the minor slowdown, mortgage debt is likely to surpass the size of GDP soon. Canadian Mortgage […]
