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 […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Bank Of Canada Wants A Housing Bubble, While Other Central Banks Try To Pop Them The Bank of Canada is embracing fast rising home prices, but that’s not a normal reaction. Especially at this time, in markets with overheated real estate. […]
The pandemic didn’t slow Canadians from borrowing more to buy real estate. In fact, mortgage data may be showing the exact opposite. Statistics Canada (StatCan) data shows residential mortgage credit hit a record in 2020. Typically during a recession credit growth is expected to slow down. Last year saw the opposite, with declining rates pushing […]
Montreal is the next Manhattan. Or maybe Winnipeg. Sorry, it’s definitely St. Johns. Wait… what’s happening? Real estate prices are rising pretty much across the country. Canadian real estate prices are showing the highest level of price synchronization in years. This is when markets, regardless of location, begin to show similar levels of price growth. […]
The warning is coming from inside the house, and it’s not from one of Bay Street’s bears. BMO senior economist Robert Kavcic said Canada is “playing with fire” in a note this week. Looking at the percent of income needed to carry a mortgage on homes, he doesn’t think 2017 was a bubble. The current […]
Unless you’ve been sleeping under a rock, you’ve probably noticed something unusual this recession – high unemployment and higher home prices. Odd, right? Usually when people are at risk of losing their jobs and business, their cost of living doesn’t rise. Free markets tend to manage risk this way, choking off credit as economic risk […]
Canada’s central bank’s rate announcement was brief, but had a lot of details for investors to unpack. Bank of Canada (BoC) announced they would be making no changes to rates at this time, as widely expected. Two details did stand out though – housing, and quantitative ease (QE). The central bank is surprised by housing […]
Canadian real estate buyers are driving prices using irrational exuberance. US Federal Reserve (The Fed) data shows Canada’s homebuyers were “exuberant” in Q3 2020. This is when buyers disregard fundamentals, and paid more because they felt they couldn’t lose. This isn’t new, but it’s not as old as some have assumed. Canadian homebuyers irrationally drove […]
Canada’s largest bank believes higher rates are a lot closer than most are hoping for. RBC senior economist Josh Nye is forecasting the Bank of Canada (BoC) will hike rates sooner than expected. The forecast is based on higher inflation and a recovery ahead of schedule. The economist is watching for a gradual reduction in […]
