Canadian real estate investors should pay close attention to a new rule in the budget. The Government of Canada (GoC) 2022 budget proposes to apply a sales tax to assignments for new homes. Hitting assignments with a sales tax will make reseller units much less attractive. If implemented, this can drastically change investor demand for […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices Expected To Drop 24%, Can Crash 40%: Oxford Economics Oxford Economics just warned clients that home prices are in for a correction. The global forecasting firm sees Canadian home prices falling 24% by mid-2024. Previously they expected a […]
Canada’s economy is leaning on real estate once again. Statistics Canada (Stat Can) data shows building construction investment hit $19.1 billion in January. Investment is 3.4% higher than a month before, and 12.0% higher than it was last year. There’s a bit of a catch though — the growth disappears once adjusted for inflation. It […]
Canada released the most Canadian look at COVID-19 deaths — by including real estate. Statistics Canada (Stat Can) studied age-adjusted COVID-19 mortality rates by housing type. The national stats agency found elevated mortality rates amongst those that live in high rise buildings. This was especially true for low income households, with one key exception. High […]
Canada’s economy was briefly less dependent on real estate, but that was short-lived. Statistics Canada (Stat Can) data shows residential investment outpaced GDP in Q4 2021. As a share of GDP, residential investment is under last year’s record, but rising quickly. An increased reliance on real estate is a trend that began over two decades […]
Canadian real estate got some more bad news this week — building intentions are once again back in correction territory. Statistics Canada (Stat Can) data shows building permits made further declines in January. A sign of future activity, consistent declines may show building is past its peak. Permits are still much higher than was normal […]
Canadian new housing construction is slowing, but remains above pre-pandemic levels. Canada Mortgage and Housing Corporation (CMHC) data shows new housing starts slowed in January 2022. The number of new homes to start construction fell below last year’s level. Financial institutions forecast this will continue for at least a couple of years. Canadian New Home […]
Canada’s recent housing boom is expected to satisfy demand for years. Last year, the country saw 271,200 new homes begin construction, up a whopping 25.1% from a year before. This is just under the record reached in 1976, and obviously much higher than normal. That might have been the top of this cycle, according to […]
A leading indicator of future building is flashing big growth, but there’s a catch. Statistics Canada (Stat Can) data shows a huge climb for building permit values in 2021. Values climbed by over a quarter, one of the largest increases in history. Unfortunately, the national statistics agency attributes two-thirds of the growth in value to […]
It might not seem like it, but Canadian real estate is in the middle of one of the most significant supply booms ever. Canada Mortgage and Housing Corporation (CMHC) data show 2021 housing starts made a big jump. More importantly, the surge of new home construction is beginning to reach the market. New home completions […]
