Canada’s largest bank now sees the US raising interest rates, and it’s a big positive for Canadian rate hikes. RBC senior economist Josh Nye said the bank sees the US hiking rates by next year. The hike will allow the Bank of Canada (BoC) to raise rates without a significant appreciation of the loonie. This […]
The Canadian real estate market will change really fast over the next few months. Home prices in the key markets of Toronto and Vancouver saw price growth climb in June. Looking at the most recent data annualized though, a slowdown is just around the corner. Without a sudden boom in prices, the annual trend is […]
Canadian real estate prices just printed record growth across the country. Apparently it wasn’t enough, as households have increased their expectations for future growth. Bank of Canada (BoC) surveyed consumers on where they see home prices over the next 12 months. Conducted in Q2 2021, the survey found the highest forecast rate of growth in […]
Canadian real estate always marches to the beat of its own drum, which may not be a good thing soon. BMO senior economist Robert Kavcic shared his take on last month’s home sale numbers. He observed a strong market, but said it continues to show we’re past peak momentum. He warns of a potential “bizzaro” […]
Canada’s state-owned mortgage insurer will be loosening mortgage insurance standards. The Canada Mortgage and Housing Corporation (CMHC) announced they’ll reverse some pandemic measures. They tightened the borrower criteria for insurance at the beginning of the outbreak. Unfortunately, it did little but lost the agency market share. Their competition was more than happy to pick up […]
About 6 years ago, deep-pocketed investors and institutions gathered at the Megatrends conference. Blackrock CEO Laurance Fink told them something that seemed unconventional in 2015. The two greatest stores of wealth internationally today is [one] contemporary art…,” said the $6 trillion asset manager. “And two… apartments in Manhattan, apartments in Vancouver, [and apartments] in London.” […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Bank Of Canada Is Quietly Updating Forecast Models To Include Debt And Real Estate The Bank of Canada is updating its primary forecasting model to include real estate and debt. The Terms-of-Trade Economic Model (ToTEM) will move to its third iteration soon. […]
Soaring home prices may be a pain for some generations, but not for Boomers. Royal LePage released the results of its 2021 Boomer Survey. The survey found the majority are homeowners, with many having most of their net worth in real estate. Soaring home prices aren’t a pain point, but a windfall. It’s no wonder […]
Canada’s real estate boom is starting to slow down, with fewer new projects taking the first step. Statistics Canada (Stat Can) data shows the dollar value of building permits fell in May. After coming off of record highs, a decline should have been expected for the most part. The size of the fall was definitely […]
The Canadian real estate slowdown is becoming a drag on gross domestic product (GDP). Statistics Canada (Stat Can) data shows the GDP sector of real estate, rental and leasing (RERL) fell in April. The decline is the first move lower in five months, due to a drop in revenues at real estate brokerages. That would […]
