Canadian real estate has been the ideal tax shelter, but that might change soon. Generation Squeeze, a Vancouver-led non-profit advocating for Millennials, released its Solutions Lab report. The CMHC-funded (but independent) study has four suggestions for improving housing affordability. Today we’re going to dive into its most controversial proposal stirring debate — a progressive tax […]
Canadian real estate has outgrown productive investment, and it’s not slowing down. Statistics Canada (Stat Can) data shows building permits, considered a leading indicator for future building intentions, climbed in November. The growth is entirely attributed to home building, now running 50% above pre-2020. More housing is nice, but Canada is already sinking more investment […]
Greater Vancouver real estate prices are soaring as inventory hits the lowest level in decades. And why wouldn’t it? Selling would have been walking away from tens of thousands of dollars, shows Real Estate Board of Greater Vancouver (REBGV) data. In December, home prices accelerated to a new record, with the highest growth rate in […]
Canadian bond yields are soaring, but the central bank isn’t expected to raise rates. At least not yet, according to an analysis from BMO Capital Markets. Government of Canada (GoC) bond yields showed a multi-year high for annual growth in 2021. This means rising market expectations of the overnight rate climbing in the near-term. Despite […]
Canadians are buying into the narrative that higher mortgage rates will wreck half of households. A survey making the rounds saying exactly that doesn’t help, but the narrative existed before the survey. Fortunately, this isn’t true. How can we be sure? Well, let’s start with less than a third of households have a mortgage. Less […]
Over the past year, we’ve heard that younger households were behind the real estate binge. In addition to transfer data showing that’s not true, Equifax mortgage data for Q3 2021 agrees. Most demographics showed little change in their borrowing patterns, except for the extremes. Millennial-led households maintained their share of mortgages, but a larger share […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Real Estate Bubble Has Buyers Paying 2x The Mortgage Of Existing Owners Canadian homebuyers are paying double the payments of existing homeowners. In 2021, the average homeowner’s mortgage payment climbed to $1,382 per month in the third quarter. The average homebuyer […]
Canadian household debt problems are once again worsening, after taking a brief break. The ratio of household credit market debt to disposable income climbed in Q3 2021, according to Statistics Canada (Stat Can). Households are now borrowing debt at one of the fastest rates in half a decade. Unfortunately, their incomes aren’t rising in line […]
The Canadian real estate boom has produced a gold rush, and now everyone is trying to sell you a home. It’s a country-wide phenomenon, as people see a low barrier of entry and large commissions. However, nowhere has taken to the trend like Toronto, which now has more Realtors than teachers. A lot more. Not […]
Canadian real estate’s economic contribution was slowing, but it’s back with a vengeance. Gross domestic product (GDP) made a big jump in October, with real estate doing a lot of the heavy lifting. A component, real estate and rental and leasing (RERL) provided over a tenth of the monthly GDP increase. RERL showed the biggest […]
