The Greater Toronto real estate rut continued last month. Toronto Regional Real Estate Board (TRREB) data shows the price of a typical home fell once again in September. Despite a mild improvement in sales, inventory climbed much faster helping to apply further downward pressure on prices. The benchmark is now within spitting distance of prices […]
Toronto real estate has once again assumed its natural position as one of the biggest bubbles in the world, according to a Swiss banking giant. UBS released its 2024 Global Bubble Index, an annual scorecard of the riskiest real estate markets in the world. Toronto climbed into 5th place, but managed to lower its risk […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Flippers Are Still Near Record Levels The death of the Canadian real estate flippers has been greatly exaggerated. Bank of Canada (BoC) data shows 2.5% of homes sold in Q2 2024 were purchased within the past 12 months—only seeing […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate US Border Stopped 1,200 Terror Suspects From Canada, Urges Tighter Immigration Evidence that Canada’s breakneck population growth is unsustainable is starting to pile up. The latest blow comes from US border data that shows a surge of terror suspects attempting to cross […]
Canada’s largest real estate market is turning into a headache for the country’s largest bank. Yesterday we mentioned RBC’s Greater Toronto Area (GTA) mortgage portfolio has seen serious mortgage delinquencies (90+ days) soar in Q3 2024. We received a few requests for a deeper dive, so here it is. Toronto real estate may seem boring […]
Greater Toronto real estate was supposed to firm up this year, but the market continues to erode. Toronto Regional Real Estate Board (TRREB) data shows sales slipped to print one of the worst Augusts on record. Prices also made a sharp drop as inventory climbed to rarely seen levels, as the region faces one of […]
Canada’s remote workforce has been breathing new life into small cities, but that may come crashing down soon. The Government of Canada (GoC) has ordered its remote workforce back to the office starting next week. The reasons cited haven’t been particularly strong, but the impact on big cities has been. Downtowns have been hollowed out […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Government Spending Now 80% of GDP Growth Canada’s economy grew faster than expected but still showed recession-like behavior. Annualized real GDP growth came in at 2.1% for Q2 2024, much higher than market expectations. However, the details were less flattering with […]
Greater Toronto real estate is slow but new housing has ground to a halt. Altus Group and BILD GTA data shows Greater Toronto has never seen fewer homes sold in July. Prices have dropped significantly from the peak, but not enough to prevent demand from hitting a record low. If a firmer market is ahead, […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Inventory Grew More Than 2x The Rate of Sales Canadian home sellers expected rate cuts to stimulate the market, but apparently no one told buyers. July saw annual growth of new listings grow at double the rate of sales. […]
