Canada’s population is growing at the slowest pace in years, but buyers are facing a busy market. Canadian Real Estate Association (CREA) data shows record home sales for September. The increase in home sales is largely due to a seasonal shift, after the lockdown. Canadian Real Estate Sales Are Up 46% Canadian real estate sales […]
Canadians are beginning to resume paying their mortgages, after many requested deferrals. Canada Mortgage and Housing Corporation (CMHC) broke down insured mortgage payment deferrals in August. At a national level, CMHC is seeing the rate of payment deferrals similar to the general market. Broken down by city, we see the most expensive markets are overrepresented. […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Why Canada’s Condo “Insurance Crisis” Should Make Investors Nervous The Canadian insurance industry is discussing a coverage “crisis” coming to condos. Due to rising replacement values, and smaller margins, insurance companies are dropping coverage. This comes while demand for this type […]
Canadians are increasingly discussing negative interest rates. Since negative interest rate policy is unconventional, there aren’t many examples. Further, there isn’t much discussion from experts that understand the concept. Despite what I’ve heard some real estate agents tell people, it won’t lead to the market boom they assume. In fact, it typically requires a horrible […]
Canadian condo investors are facing another risk – rising insurance premiums. The event, which the industry is calling the “condo coverage crisis,” saw premiums rise at the end of last year. This trend of higher rates is expected to persist into the future, as replacement values and insurance demand continue to rise. The rising premiums […]
Toronto is one of the few real estate markets to buck the trend of fewer high rise cranes. Rider Levett Bucknall Crane Index (RLB), a global real estate advisory firm, released its Q3 Crane Index. The index shows North America saw the first decline of construction cranes in years. Toronto was a notable exception. The […]
One of the world’s largest banks is seeing real estate bubbles across the world. UBS analysts published their 2020 Bubble Index, noting this many markets haven’t increased at once since 2006. In Canada, Toronto lost it’s spot as the world’s second biggest bubble to Frankfurt. Despite slipping in rank, the bank is noting fundamentals continue […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Buyers Trying To Walk Away From Purchases Become “Rampant” Canadian home buyers not delivering a downpayment after agreeing to buy a home is on the rise. A Greater Toronto broker is seeing an uptick of buyers not delivering […]
Canadian real estate buyers are starting to ghost sellers, after making offers. Marvin Alexander, president of Keller Williams Realty Centres, a Greater Toronto-based brokerage, notes an unusual uptick of buyers not delivering deposit cheques. He’s not alone. The broker is hearing similar stories from other brokerages across Greater Toronto, and suspects it might be a […]
Canada’s robust population growth has been grinding to a halt during the pandemic. Statistics Canada (Stat Can) quarterly population estimate for Q3 2020 shows there is still a lot of growth. However, it’s a lot less robust than last year, and barely moved in the most recent quarter. In fact, the most recent quarter represented […]
