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 […]
Canadian housing starts ripped higher last month, but that’s only part of the story. Canada Mortgage and Housing Corporation (CMHC) numbers show a surge in new home construction starts in April. Despite April’s surge in activity, new home starts are significantly behind last year. Canadian Real Estate Starts Spike In April, But Still Lag Canadian […]
Canadian households are facing higher borrowing rates, but they’re coming down. Bank of Canada (BoC) numbers show the effective household borrowing rate was higher than last year, as of April 27. Over the past few weeks however, rates have been on a fast slide since peaking in March. Effective Household Borrowing Rate The effective household […]
Demand side measures don’t appear to be slowing down Toronto real estate buyers. Toronto Real Estate Board (TREB) numbers show home prices made the fourth largest jump for April. The abrupt increase was accompanied by an annual rise in sales, as well as inventory. Greater Toronto Real Estate Makes Fourth Biggest Jump In April The […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Toronto And Vancouver Are Placing Absurd Price Premiums On Condos Toronto and Vancouver property assessments place a huge premium on condo apartments. Toronto apartments have a median assessment value of $457 per square foot (PSF) in 2018, 32% higher than […]
Toronto and Vancouver homeowners are condo crazy, and it shows in assessment values. Statistics Canada (StatCan) numbers show median assessment values for condos were at a huge premium in 2018. The gap between assessments for a condo apartment is as much as double in Toronto. Vancouver, the country’s most expensive city, isn’t seeing nearly as […]
Near record low interest rates may still be too high for highly indebted Canadian households. Bank of Canada (BoC) numbers show the growth of the M1+ money supply fell to a multi-year low in March. The decline of this measure is typically indicative of slowing future economic activity. The M1+ The M1+ is a narrow […]
Canadian households hit a new all-time high for debt, but the level of growth is slowing. Bank of Canada (BoC) numbers show the balance of household debt reached a new high in March. Despite breaking a new record, Canada’s credit growth is at recession low levels of growth. This can present a major kink in […]
Greater Toronto new home sales climbed last month. Numbers from Altus Group show new home sales increased in March, attributed entirely to a rise in the 905. Don’t get too excited though. The only reason new home sales increased, was because the bar was set so low last year. Last month was still the second […]
