Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate In A “Melt Up,” And Little Chance Of Stopping It By Spring: BMO Canadian real estate prices are in a “melt up,” says one the country’s largest banks. This is when prices show unsustainable price growth, based solely on […]
Canadian households are taking advantage of the cheap debt flooding the mortgage market. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in January. The total size of the debt pile isn’t just a shocker at this point. Over the past year, accumulated mortgage debt was more than 5% the size […]
Canadian real estate prices are rising at a rapid rate, but officially the cost of living isn’t moving. What gives? Douglas Porter, BMO chief economist, discussed inflation and home prices in 2 separate notes this week. The issue has to do with how official inflation numbers are measured. Housing tends to influence inflation in an […]
Canada’s national association representing Realtors is forecasting big price gains… but those gains are lower than last month’s average price. The Canadian Real Estate Association (CREA) released a forecast with February sales data. The association sees absolutely mind blowing growth for home prices in every province. Just one minor detail most analysts didn’t catch. The […]
Canada’s young adults are fleeing the city, and the trend may be far from over. A Royal LePage survey of Canadian home buying intent of people aged 25 to 35 shows a quarter bought during the pandemic. This supports data showing young adults have been fleeing major cities, and sending rural home prices soaring. The […]
Many Canadians are surprisingly comfortable telling strangers they approve of mortgage fraud. Equifax released its latest consumer survey along with upgrades to its ClearPro fraud detection platform. The company confirmed what many have suspected — credit fraud may be rampant. It didn’t take sophisticated software to figure that out either. That was just the result […]
Canadian real estate sellers were scarce at the end of the year, but are now starting to show up. Canadian Real Estate Association (CREA) data shows new listings outpaced sales in February. The market is still undersupplied for the winter’s record sales activity. However, some of the steam is being let out, as sellers likely […]
Canadian real estate is in a “melt up,” says one of the country’s largest banks. BMO senior economist Robert Kavcic sent a brief research note literally titled “Melt Up,” with his take on the latest real estate numbers. The term is typically used to describe rapid, and unsustainable price growth for an asset. It’s also […]
US real estate is once again the top spot for Asian buyers, according to China’s largest foreign property portal. Juwai crunched the numbers on the top destinations for Asia’s buyers, in its annual report. The US claimed the number one spot in 2020, after falling behind countries like Thailand in prior years. Canada managed to […]
Canadian real estate prices are making huge leaps higher, and not just in big cities. Canadian Real Estate Association (CREA) data shows prices hit a record in February. Rapid price growth is nothing new, but where it’s occurring is. Big cities, that typically lead the market, are seeing prices rise quickly. However, it’s nothing compared […]
