Canada’s Household Debt Is Now Greater Than The Country’s Output
Consumer debt liabilities exceeded Canada’s GDP for the first time last quarter, threatening not just the housing market but the economy.
Consumer debt liabilities exceeded Canada’s GDP for the first time last quarter, threatening not just the housing market but the economy.
Fraud is a major factor in soaring Canadian real estate prices, and a new report shows our Government isn’t interested in stopping it.
Toronto real estate was scorching in August, with the condo market being no exception. The average price is now $417,869
While not as hot as Vancouver, Toronto’s real estate market is still scorching – with more demand and less available inventory.
After the foreign buyer tax, inquiries for properties under a million dollars soared at Juwai – China’s largest overseas real estate portal.
Canadian real estate prices could move higher, as analysts are starting to call a further decline for the loonie.
Alberta’s non-recourse mortgages mean many people can walk away from their mortgages with minimum consequences in the event of a crash.
Canadian mortgage debt demolished previous records this year, having risen to $1.03 trillion at chartered banks alone.
Canadian real estate prices have soared so high, the average Millennial now needs to wait at least 10 years to save a downpayment.
The Canadian housing bubble extends far beyond Vancouver, and we look at one of the primary contributors – low mortgage rates.