Canadians love real estate so much, they’ve sent price growth higher than almost all of its peers. US Federal Reserve numbers show the market had the highest price growth of any G7 country, as of 2018 Q3. Just last year, prices in Canada were the fastest growing annually in the group. This year, they’re the […]
‘Twas the night before Christmas, when all through the house – not a creature was stirring, not even a mouse. Well, except for Evan Siddall… fine, it was the afternoon and he was on Twitter. On Christmas Eve, the CEO of the Canada Mortgage and Housing Corporation (CMHC) defended mortgage stress testing. The head of […]
Toronto’s detached real estate market continued to get colder last month. Toronto Real Estate Board (TREB) numbers show prices stalled in December. The lack of price movement was due to a multi-year low for sales, and higher than typical inventory. The Price Of A “Typical” Detached Is Almost Flat Detached home prices didn’t move much […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Household Debt Is Back Above US Great Recession Numbers Canadian household debt to income ratio (DTI) are now above peak US levels. Household DTI reached 166.79% in Q3 2018, up 0.15% from last year. That might seem low if […]
Toronto real estate is printing new records, but not the good kind. Toronto Real Estate Board (TREB) numbers show prices increased in December, when compared to 12 months ago, but are still below peak. It was also the slowest December for sales in 6 years, with the second highest inventory in the same period. Toronto […]
Canadian households just demonstrated debt is more complicated than bank economists think. Statistics Canada numbers, adjusted by former Maclean’s business editor Jason Kirby, show Canada’s debt to income ratio made a huge jump in Q3 2018. Canadian debt to income levels are now back above the US pre-Great Recession peak. That level, which is notoriously […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Price Gains Continue To Taper, Annual Growth Falls Below 2% After an epic run, Canadian real estate prices are starting to taper in growth. The price of a typical home across Canada reached $618,800 in November, up […]
Canada’s largest bank believes real estate affordability will continue to deteriorate. RBC Economics updated their Affordability Index for Q3 2018. The index, which shows how much a household would pay for a mortgage, printed one of the worst levels in history. Analysts from the bank expect affordability to get worse in 2019, as interest rates […]
Canadian real estate owners borrowed another billion of their home equity. Office of the Superintendent of Financial Institutions (OSFI) numbers show the balance of loans secured by home equity hit a new record in October. The balance, which is slowing in growth, is primarily consumers borrowing for personal consumption. Loans Secured By Residential Property Loans […]
After years of overheated growth, Canadian real estate price gains are tapering. Canadian Real Estate Association (CREA) numbers show prices for a benchmark (a.k.a. typical) home across Canada slowed in growth in November. Prices are beginning to stall after years of explosive growth across most of the country. Canadian Real Estate Prices Rise Less Than […]
