Most Canadian households saw their net-worth grow last year, but some have begun to see it roll back. Statistics Canada (Stat Can) data published this week, shows the median household net-worth grew in 2019. The growth was much slower than observed in the previous data release though. This was led by a decline in net-worth […]
B.C. real estate is picking up again, but it’s generally lagging the general market – especially in Vancouver. Canadian Real Estate Association (CREA) data shows all significant markets saw a bump in November. Despite strong monthly gains, the province is generally underperforming the rest of Canada. Greater Vancouver Real Estate Is Still Negative From 3-Years […]
Greater Toronto is far from Ontario’s hottest market, as everyone scrambles to buy… uh, rural property? Canadian Real Estate Association (CREA) data shows every market in Ontario is seeing massive price growth in November. This trend isn’t being driven by major cities like Toronto or Ottawa. Instead, small commuter suburbs and cottage country are what’s […]
Canadian real estate is back on its way to becoming more unaffordable. RBC Economics’ latest report shows affordability got worse in Q3 2020. Temporary government transfers had improved the measure when observed in aggregate. However, as those transfers are gradually reduced, affordability is once again deteriorating. This isn’t a big city thing either. All major […]
Canadian households are still hanging onto cash, or can’t find a place to spend it at least. Statistics Canada (Stat Can) data shows the household savings rate fell from record levels in Q3 2020. While the rate is off of record highs, it’s still higher than anything Canada’s seen since the early 90s. Household Savings […]
Canada’s real estate industry expects next year to be slower than this year, but still sees massive price growth. Canadian Real Estate Association (CREA), the industry group representing Canada’s Realtors, released their 2021 forecast. They expect next year will see large growth, just not as large as we’ve seen this past year. Ontario is forecasted […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Fitch, Another Big Three Credit Agency, Forecasts Falling Canadian Real Estate Prices Another big global credit agency sees Canadian real estate prices falling next year. Fitch Ratings, see prices dropping up to 5% at the national level in 2021. The decline […]
Canadian real estate owners are still falling into arrears at a higher rate. Canada Mortgage and Housing Corporation (CMHC) data shows an uptick in arrears during Q2 2020. The agency notes the trend wasn’t just in one type of lender either. It was right across all segments of lenders. Mortgage Delinquencies and Arrears Rates In […]
The pandemic may have helped banks accelerate profitability… and not just from real estate prices. Well, kind of because of real estate prices. Earlier this month, two of Canada’s largest banks reiterated plans to reduce office space. The pandemic forced them to send non-essential staff to work from home. Now they’re finding things are working […]
Canadian real estate prices are soaring, with gains accelerating into the winter. Canadian Real Estate Association (CREA) data shows a big monthly jump for home prices in November. Prices are rising almost exclusively in the detached home segment. Condo apartment values have now rolled back to pre-pandemic prices. Canadian Real Estate Prices Grow At The […]
