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.
Greater Toronto Detached Real Estate Prices Dropped As Much As $178k Last Month
The Greater Toronto rollercoaster might be giving detached sellers that sinking feeling. Toronto Regional Real Estate Board (TRREB) data shows detached prices fell in July. The benchmark for single-family units fell by tens of thousands in the month. Some markets even saw prices fall over $100,000 in the 31 day period — yikes. But it’s […]
This Week’s Top Stories: Canada’s Deepest Real Estate Correct In A Half Century, & Small Towns Are Booming
This week’s top stories include RBC calling the deepest correction for Canadian real estate in a half-century, and small towns are booming.
Canadian Real Estate Correction Is Becoming The Deepest In Half A Century: RBC
Canada’s largest bank might be its largest real estate bear after last month’s sales. This week RBC explained to investors that a Canadian real estate correction is here. Following downward revisions to the bank’s forecast, key markets reported further erosion. They see the correction spreading wider, and may be the deepest in half a century. […]
Ontario Consumer Insolvencies Jump Higher With The Lion’s Share In Toronto
Canada’s debt problem hit the pause button on consequences for the past couple years, but it’s back. Office of the Superintendent of Bankruptcy Canada (OSB) data shows a sharp uptick for consumer insolvencies in Q2 2022. The province’s biggest cities carried most of the growth, even making up for the drops seen in some smaller […]
More Canadians See Real Estate Prices Falling As Market Psychology Shifts: BMO
Canadian real estate markets are fully in a downturn and things are going to get worse before they get better. This week, Canada’s two major real estate markets reported falling home prices and sales for July. It comes as more households expect home prices to fall than rise, which hasn’t been the case in a […]
Greater Toronto Real Estate Prices Fall Another $47,000, 2022 Gains Are Gone
Greater Toronto real estate is proving the old adage — risk happens fast. Toronto Regional Real Estate Board (TRREB) data shows the price of a typical home fell sharply in July. It was the fourth consecutive drop, coming in large enough to roll back all of 2022’s gains. Experts see the market experiencing challenges in […]
Greater Vancouver Real Estate Prices Just Made The Second Biggest Monthly Drop Ever
Greater Vancouver real estate continued its rut, like most of the country’s markets. Real Estate Board of Greater Vancouver (REBGV) data shows the price of a typical home fell in July. It was the third consecutive drop, coming in just a hair below the record. Despite the recent downturn, prices are still much higher than […]
Ontario’s Small Towns Are Booming While Toronto Struggles To Recover
The flight from cities like Toronto was supposed to be temporary, but it might not be. Despite armies of Toronto real estate agents claiming on social media that people are returning, that doesn’t seem to be the case in July data. Using Google mobile traffic, we found Toronto workplaces have a third less traffic than […]
Canada’s Tax Authority Has Been On A Multi-Billion Dollar Real Estate Crackdown
Canadian real estate owners are stuck paying a buttload in penalties after trying to avoid taxes owed. New data from the Canada Revenue Agency (CRA) shows their crackdown on real estate owners/sellers has led to billions in recouped revenue. Data provided by the agency also shows they’ve collected substantial fines adding up to hundreds of […]
