Canadian real estate is starting to see the first sign of stress from higher interest, and normalized demand. Canadian mortgage lenders are beginning to write off larger mortgages in Q3 2022—the largest in nearly a decade. Credit bureau data shows this isn’t a problem yet, as the share of mortgages written off continues to fall. […]
Canadian real estate, an “ultra violent cult,” money laundering, and Toronto’s stolen cars. Sounds like a spy thriller, but that’s reality in Canada, according to FINTRAC. In 2017, the financial intelligence agency assessed the money laundering threat of an organized crime group called Black Axe. The group infiltrated the government, conducts mass fraud, and runs […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Was The Bank of Canada Reckless For Saying Rates Will Be Low Until 2023? Was it reckless for the Bank of Canada (BoC) to tell households that interest rates will be low until 2023? Yes. Central banks are supposed to be responsive […]
Canadian real estate prices went from the fastest growing to the fastest falling in just a few rate hikes. The US Federal Reserve Bank of Dallas (Dallas Fed) Q2 2022 index of real home prices shows Canada made the biggest drop in the G7. Still, Canada retained gains making it the largest real estate bubble […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Recent Real Estate Buyers Weren’t Stress Tested For Mortgages Rates This High Canada’s real estate industry complained about mortgage stress testing being too burdensome. However, the current data shows it may have been insufficient. BMO Capital Markets warns a significant share […]
Is Canadian real estate a bubble, and is the Fourth Industrial Revolution setting us up for even further inequality? These are just a sample of insights former Bank of Canada (BoC) Governor Stephen Poloz shared with us in our interview last week. For those that don’t have time to watch the whole thing (you probably […]
Toronto must have found more land because prices are plummeting for real estate. Toronto Regional Real Estate Board (TRREB) data shows prices fell sharply in October. A typical home (composite benchmark) has seen prices fall over a quarter-million dollars. They’re still dropping and breaching important psychological levels as well. Greater Toronto Real Estate Prices Fell […]
Greater Toronto’s new construction housing has seen demand completely vaporize. Data from BILD GTA and Altus Group show new construction sales fell 90% in September. Prices are now falling, especially for condos which saw a $30k drop in the month. The segment was mostly bought by investors which have disappeared, helping inventory recover. Toronto New […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate The Canadian Real Estate Wealth Boom Is Over, Expect $1.6 Trillion In Losses: RBC Canadian real estate values soared over the past few years, helping to drive wealth. However, now that we’re past peak — RBC sees housing pulling wealth back. The […]
Canadian real estate sent household net worth soaring over the past few years, and now it’s taking some of it back. RBC Economics warned investors this week that the housing-fueled wealth boom is coming to an end. The last quarter showed the biggest drop in net worth on record, largely due to a housing correction. […]
