Canadian real estate faces several hurdles and those hurdles are about to rise. Bank of Canada (BoC) data shows outstanding mortgage credit climbed substantially in March. It was only the first month of rate hikes, but we’re already beginning to see activity relax. Growth is now off multi-year highs with rising rates and falling sales […]
Canadian business insolvencies are back after being quiet over the past few years. Data from the Office of the Superintendent of Bankruptcy Canada (OSB) shows business insolvencies jumped in Q1 2022. High inflation and withdrawal of support drove filings back to early 2020 levels. Experts see this as the beginning of a bigger trend, with […]
Canadian real estate is cooling quickly after higher rates derailed its record run. A new research note from BMO shows the national sales to new listings ratio (SNLR) fell in April. The indicator measures supply relative to demand and acts as a leading price indicator. Canadian real estate can expect prices to trial the country’s […]
The Canadian real estate boom is dead and experts see an inevitable correction. Canadian Real Estate Association (CREA) data shows home sales dropped in April. Higher mortgage rates and unsustainable prices have vaporized demand, as markets adjust. As big as the drop in demand was last month, economists think we’re just getting started. Canadian Real […]
Canadian real estate gave back some of its record gains for the first time in years. Canadian Real Estate Association (CREA) data shows the benchmark price of a home fell in April. A typical home saw prices fall only slightly and annual growth remains high. However, Canada hasn’t seen prices fall in two years, and […]
Time for your cheat sheet on this week’s most important stories. Most Canadian Real Estate Gains Will Be Wiped Out Starting This Year: Oxford Econ Canadian real estate prices have increased 50% since 2020, but a lot of those gains are about to reverse. Oxford Economics reiterated its call for a 24% price drop, seeing […]
Canadian real estate prices have already begun to see growth slow, but this is just the beginning. Oxford Economics is reiterating its forecast as factors line up to return affordability. They see home prices falling by 24%, wiping out most of the gains made since the start of 2020. The declines are expected to begin […]
Canada’s real estate bubble may force the country’s central bank to put inflation on the back burner. Yesterday, Bank of Canada (BoC) Deputy Governor Tony Gravelle addressed Quebec economists. In his speech, titled the Perfect Storm, he explained various interest rate scenarios. The one that stood out most was pausing interest rates due to housing […]
Just how big is Canada’s real estate bubble? Canadians, especially in the real estate industry, are already warning rate hikes are damaging the economy. While large price drops sound scary, no one had realized how scary large price gains had become. A typical home can drop the equivalent of a median household’s income, and only […]
Canadian real estate went from rising tens of thousands per month to falling just as fast. In March, most markets saw monthly growth of the benchmark price fall, according to CREA data. The issue is more pronounced in Ontario, where markets fell up to $40k over just a few days. Most Canadian Real Estate Markets […]
