All good times must come to an end, it’s just tricky to figure out when the end is near. Statistics Canada (StatCan) unemployment numbers show Canada made a big improvement in April. The national level of unemployment continues to fall. Unfortunately, the trend skipped the most expensive real estate markets – Toronto and Vancouver. On […]
The decline in Canadian real estate sales is hitting the mortgage market. Equifax data via the CMHC shows a large decline in the dollar volume of mortgages issued in Q4 2018. The decline is the result of fewer originations, that are smaller in size than previous years. New Canadian Mortgage Debt Issued Falls Over $27 […]
The IMF released its recommendations, after doing a deep dive into Canada’s economy. One key point was to not give into political pressure around real estate. Urging Canada to think long term, they advised against looser regulations or stimulus. The organization didn’t provide numbers, so we pulled a couple of data sets. Long-term, the impact […]
Canadian real estate markets are cooling down in almost every region. Canadian Real Estate Association (CREA) numbers show the price of a typical (a.k.a. benchmark) home fell in April 2019. Despite some large annual growth in a few markets, only 3 real estate markets are printing new highs. Canadian Real Estate Prices Are Down Less […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Bank Of Canada Staff Warn Home Equity May Be Concealing Financial Distress Bank of Canada staff have released an analytical note, examining new home equity data and its growth. Stand-alone home equity line of credit (HELOC) debt fell to $63 billion […]
Canadian real estate owners may be hiding financial vulnerability using complex debt products. Bank of Canada (BoC) staff published a new analytical note examining new home equity data. The new data gives more insights into home equity borrowing, and how the debt is drawn. Out are traditional HELOCs, held separately from the mortgage. In are […]
Toronto detached real estate is doing better than last year, but that doesn’t say a whole lot. Toronto Real Estate Board (TREB) numbers show sales made a huge jump in April, when compared to last year. Even with the climb, it was still the second fewest sales for April in a decade – with a […]
Canadian real estate prices made history last month, but not the record most were hoping for. The Teranet–National Bank House Price Index (TNB HPI) index failed to rise in April. The lack of increase is the first outside of recession, going into the usually busy spring season. Canadian Real Estate Prices Stall The First Time […]
A lot of gems in last week’s BC money laundering report, but the biggest one wasn’t about the province. The report’s numbers suggest one of Canada’s fastest growing industries is washing money. In an advanced economy with low but stable gross domestic product (GDP) growth, this is a big issue. The numbers show laundering cash […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Money Laundering Provided 1 In 20 Dollars For BC Real Estate The Government of BC found extensive money laundering is occurring across the province. A paper released by the province estimates $7.4 billion in laundered funds entered BC in 2018, with […]
