Top Stories

This Week’s Top Stories: Canada Says It Won’t Let Home Prices Drop, and Bubble Soft Landing Gets Less Realistic

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Says Property Bubble “Not Great” For Locals, Good For Foreign Investor Canada officially said any home price drop is unacceptable, even if locals can’t buy a home. One of the country’s politicians in charge of housing policy said a 10% drop […]

Top Stories

This Week’s Top Stories: Bank of Canada Blamed For Property Bubble, and QE Cannot Stop Prices From Falling

Time for your cheat sheet on this week’s most important stories.  Canadian Real Estate  A Large Canadian Bank Just Blamed The Bank Of Canada For The Property Bubble One of Canada’s largest banks attributed the country’s frothy real estate market to the central bank. BMO wrote, “a surge in demand started by the pandemic, but […]

Canada

Mortgage Changes May Accelerate Canadian Property Bubble, Not Helpful: Big Six Banks

Canadian banks have begun to weigh in on new mortgage changes, and they aren’t optimistic. Earlier today, the Office of the Superintendent of Financial Institutions (OSFI) announced a revision to the uninsured mortgage stress test. The change will shrink supersized mortgage budgets, reducing the number of over-leveraged borrowers. Two of Canada’s largest banks say it’s […]

Canada

Canadian Bank Regulator Readies To Reverse Extra Pandemic Mortgage Leverage

Canadian real estate markets may have got the first big cooling measure today. The Office of the Superintendent of Financial Institutions (OSFI) announced they are moving to tighten uninsured mortgage leverage. The organization that regulates Canada’s banks, eased the mortgage stress test last year. Now that it’s clear mortgages don’t need stimulus, they’re looking to […]

Canada

Canadian Real Estate To Cool Later This Year, “No Urgency” For Measures: Scotiabank

One of Canada’s largest banks isn’t joining its peers in a call for housing cooling measures. Scotiabank Chief Economist Jean-François Perrault thinks the country should take a wait-and-see approach. The bank is warning a hasty decision could unfairly penalize existing homeowners. They suggest Canada wait it out, because rising inventory may solve the issue in […]