Canadian Real Estate Is Worse Than Official Data Shows, BMO Revises Forecast Lower
BMO made a downward revision to its Canadian real estate forecast as the bank notes a surge in cancelled listings and failed closings.
Toronto Real Estate Developers Sold Zero New Single-Family Homes Last Month
Toronto real estate is suddenly so cold zero new single-family homes sold in June, but inventory has yet to bounce.
Canadian Cities Have Seen Investors Buy Up To 100% of Newly Constructed Condos
Most condo apartments built since 2016 have non-occupying ownership across Canadian real estate markets, according to 2020 property records.
This Week’s Top Stories: Canada’s Banks On Real Estate’s “Historic Correction” & Supply Shortage “Myth”
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Expected To See A “Historic Correction,” Biggest Drop Ever: RBC Canada’s largest bank feels we are in the middle of a “historic correction.” RBC said the housing downturn is much faster and deeper than expected. Consequently, they’re downgrading their […]
A Lot of Canadian Real Estate Owners Decided To Own 4 Or More Homes In 2020
When the pandemic hit Canadians bought as much toilet paper and real estate they could find. We took a dive through data provided by the Canadian Housing Statistics Program (CHSP) on homeownership in 2020. A massive share of Canadian homeowners aren’t stopping at 1 home, but provinces have seen up to 1 in 5 owners […]
Canada’s Housing Supply Has Outpaced Household Formation For Two Decades: BMO
Canada’s oldest bank is doubling down on its claim the housing supply shortage is a myth. BMO Capital Markets wrote to clients on Thursday morning with another data point — completions compared to household formations. The bank’s analysis argues housing completions have outpaced household formations for two decades. However, easy credit and wave after wave […]
The Canadian Real Estate Bubble’s Supply Shortage Myth Is Unraveling: BMO
Canadian real estate suddenly had a shortage of supply after record low rates. Not in major boomtowns, but in small cities and rural municipalities. Canada had the biggest boom, but this was seen in almost every advanced economy. Right after rates were slashed to stimulate demand, everywhere had a sudden shortage. BMO Capital Market economists […]
Canadian Cities Have Seen Up To 1 In 8 Newly Built Homes Go To Non-Residents
Canadian real estate has long been a safe place for global investors to park cash. Low scrutiny, few barriers, and little to no data collection on ownership, made it ideal. Statistics Canada (Stat Can) non-resident owner data from the Canadian Housing Statistics Program (CHSP) shows just how popular it was in 2020. The program, mostly […]
How Slow Is Toronto Real Estate? Developers Only Sold 2 Single-Family Homes In May
Greater Toronto’s new housing market is slowing just as fast as existing-homes. Altus Group data shows new home sales fell sharply in May, while inventory levels have improved. New home inventory is still low compared to historical levels, but the drop in sales has been so sharp that it’s starting to erode price gains. Just […]
Canadian Housing Starts Fell In June But Remain Significantly Elevated
Construction of new housing supply suffered a mild setback, but remains historically elevated. Canada Mortgage and Housing Corporation (CMHC) data shows new home starts fell in June. The drop was only slight, with the number of units still much higher than anything seen in the 2000s or 2010s. Big cities like Toronto and Vancouver even […]
