Not even record population growth was able to help new condo sales across Greater Toronto. A report from development research firm Urbanation shows new condo sales plummeted in 2023. It was the worst year for sales since the Great Recession, but that’s not all. The rush to build has left developers with the most unsold […]
Canadian real estate markets are expected to fumble in the first half, but make up for it in the second. RBC Economics shared its latest forecast for Canada’s housing markets this morning. The country’s biggest bank believes interest rates are running the show, and the first six months of 2024 will be slow. As rate […]
It’s a Canadian story as old as time. High risk person meets a grocery bag filled with tens of thousands in cash. Person trades said bag of cash for casino chips and leaves without playing. Casino staff asks no questions, despite previously identifying the person as a high risk patron. Well, maybe not as old […]
Cheaper financing and talk of the end of rate hikes improved markets across the country. Canadian Real Estate Association (CREA) data shows rising home sales in December. Diving into the data revealed a much more mixed picture though, with perceived improvements masking further erosion from last year. The conditions have economists at BMO warning investors […]
Canada’s largest real estate market finished the year with a surprisingly strong month. Toronto real estate sales got a boost in December from cheaper credit, anticipated to get even cheaper in the coming months. Despite the return of some exuberance to the market, prices continued to fall. BMO is warning investors this trend may persist […]
Canada’s economy continues to struggle with job creation that keeps up with its population. Statistics Canada (Stat Can) data shows the unemployment rate was unchanged in December. However, the population growth means nearly 20% more unemployed than last year. That excludes the demand for work from international students—many attracted by promises of working extended hours […]
Greater Toronto real estate attracted some more buyer’s, but not enough to change its trend. TRREB data shows composite home sales made an uptick in December. Despite a small increase in sales, lingering inventory remains higher than usual, pushing prices lower. Having shed a fifth of value since hitting the all-time high, prices are still […]
Canada printed yet another massive, immigration-driven quarter of population growth. What housing crisis, the country just needs to build homes faster, right? BMO Capital Markets crunched the numbers to show just how comically distorted and unviable growth has become. It’s starting to become clear the plan isn’t to diversify the country, but stimulate home prices […]
Another day, another newly built home is torched. Toronto Fire Services responded to a residential fire on Thursday morning around York Mills. The newly built, sprawling mansion, listed for sale at $14 million, was mostly lost by the time they could put the fire out. Toronto Police are now looking for four suspects caught on […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Bank of Canada Is Pushing A False Real Estate Narrative To Divert Blame: BMO Last week, the Bank of Canada (BoC) claimed the country has a long-standing housing supply issue. This ticked off a number of experts that have been following this […]
