Policymakers broke Canada’s real estate market, and now it faces 7 years of bad luck. The Canadian Real Estate Association (CREA) slashed growth expectations for sales and prices, forecasting a 7th year of stagnating prices. They warn the first quarter was weaker than previously anticipated, as factors that drove growth before are over. Even with […]
Canadian real estate has seen some positive growth but won’t recover to peak valuations for another half decade. That was the take from BMO Capital Markets, who sees demand getting a boost from a few factors including cheaper, easier credit. However, they don’t see home prices returning to their peak until 2029, as a combination […]
Canada’s economy will be in the shitter, but at least the cost of shelter will rise, eh. That’s the takeaway in the latest housing forecast from the CMHC, Canada’s national housing agency. The state-owned mortgage insurance firm is calling record existing home prices alongside a weakening economy. They attribute the increase almost exclusively to a […]
Canada’s national housing agency is forecasting things are going to get worse in the next few years. The CMHC’s latest forecast expects a booming population and lower rates driving housing demand. As a result of the surging activity, existing home prices are expected to rise over the next couple of years. Despite soaring demand and […]
Canada’s largest bank is bullish on the economy but not on home prices. RBC regulatory filings reveal they see home prices making a modest decline by next year. That’s if the economy encounters no unexpected hiccups. However, the bank warns they’ve placed more weight to the downside as the outlook darkens. In the downside scenario, […]
Canadian homebuyers are scrambling for cheap mortgage debt, often with variable rates. The latest Desjardins’ research note shows they should expect to pay a lot more in two years. As the Bank of Canada (BoC) hikes the overnight rate, those with variable mortgages will see costs rise. Desjardins’ calculations see those costs more than doubling […]
Canada’s real estate industry is ratcheting up expectations for next year. The Canadian Real Estate Association (CREA) is forecasting huge growth for the average home price in 2022. Just six months ago, they had been expecting the boom in 2021 to be followed by slow growth. Now in a market flooded with easy money, they […]
Canada is projected to be the next Greece, and not because of the good stuff. The Organization for Economic Co-operation and Development (OECD) has forecast Canada’s economy will fall behind. The group sees Canada’s real gross domestic product (GDP) per capita growth falling to last place. An expert warns young Canadians won’t have the same […]
In Canada, it only goes up. Well, when it comes to real estate prices, anyway. Fitch Ratings‘ sent its latest global real estate forecast to clients this week. The credit rating giant sees Canadian home price growth slowing but still firm. At the same time, this isn’t driven by lower rates or higher incomes. They […]
The Canadian economy is improving, excluding some minor hiccups like this morning’s GDP. An improved economy needs less stimulus, and that means higher mortgage rates. To see what Canada is in for, we modeled a forecast range for 5-year fixed-rate mortgages. If Canada doesn’t go into a double-dip recession, much higher mortgage rates are coming. […]
