Forecasts no longer expect Canada to avoid a hard landing for the economy or real estate, as inflation sends internet rates soaring.
BMO is warning Canadian investors that a hard landing is now unavoidable as interest rates are forced higher by inflation.
Canada’s economy and real estate are in for a hard landing that kicks off within six months, warned Oxford Economics.
Canadian real estate prices just made the largest monthly drop ever in the history of the Teranet-National Bank House Price Index.
Canadian real estate affordability is getting worse as the market adjusts to higher rates. A Bank of Canada (BoC) update to its Housing Affordability Index (HAI) shows a sharp climb in Q2 2022. An average household now requires nearly half their income to service a mortgage. It’s a level rarely seen in Canada, and experts […]
Canada’s large banks warn an “enormous” shock to real estate is coming, and a hard landing will start as early as this year.
Canadian real estate will see a second shock as mortgage pre-approvals secured at much lower rates fade, according to BMO.
Canada’s best performing real estate markets during the boom were in Southern Ontario, and now they’re the worst performing.
Canadian real estate prices are now back to the lowest level since November 2021, with annual growth likely to turn negative soon.
RBC no longer sees a soft-landing as a possibility, and now expects a moderate recession will kick off as early as the end of this year.