Ontario is about to experience more real estate pressures in the form of higher rents. The Government of Ontario released its annual rent guideline for 2023. This guideline covers the maximum increase most tenants can experience in the year. With inflation at a 40-year high, it’s hardly surprising to see the guideline at a decade […]
Canadian real estate has cooled even faster than bears assumed possible. The sales to new listings ratio (SNLR) indicates it’s just getting started. If historic patterns hold true, the market will see all of 2022’s gains disappear by mid-summer. Unless something changes the trend, home prices are heading in the direction of improved affordability. Sales […]
Canada’s booming population growth is obfuscating a trend policymakers should be watching — emigration. Emigration, the act of moving from a country, saw an unusual surge in Q1 2022. It was the biggest Q1 for emigration in a half decade, shows Statistics Canada (Stat Can) data. The recent surge marks the end of a trend […]
A Canadian lawmaker wants answers after BC’s money laundering inquiry condemned Federal agencies. Member of Parliament (MP) Adam Chambers is gauging support for a Federal inquiry into money laundering. Due to many failures Canada’s economy has become as reliant on money laundering as the US was on housing in ’06. Now the Simcoe North MP […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate’s Nearly 40-Year Tailwind From Lower Rates Is Reversing: BMO The low rate tailwind boosting Canadian real estate over the past 40 years is coming to an end. The Bank of Canada estimates recent buyers will be renewing mortgages around […]
Canadian real estate prices are doing the unthinkable — they’ve stopped going up. After making a sudden drop last month, everyone is now wondering how much prices can fall. We’re hooking it up by assembling the downside scenario forecasts from the Big Six banks. Here’s the worst Canada’s biggest lenders see happening to home prices. […]
Greater Toronto real estate sellers are learning a lot can change in just one month. Toronto Regional Real Estate Board (TRREB) data shows the median sale price dropped in May. The majority of cities across the board are now seeing price declines as rates normalize. The Median Sale Price of Greater Toronto Real Estate Fell […]
Told ya’ higher interest rates would lead to more Canadian real estate inventory. Canadian Real Estate Association (CREA) data shows existing-home sales dropped sharply in May. At the same time inventory has been climbing as more owners cash out some of those record gains. Falling sales and higher inventory has driven the market into balanced […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate’s Worst Case Is A 30% Price Drop, Still Down By 2027: RBC Canada’s largest bank is preparing for a big drop in home prices in a downturn. RBC’s worst case scenario for Canadian real estate is a 30% price […]
Canadian real estate went from the narrative prices will always rise, to “look out below” in a matter of weeks. It’s not surprising to see a fickle public change their mind that fast, but it’s odd to see the Bank of Canada (BoC) do it. In the House Price Exuberance Indicator (HPEI) for Q1 2022, […]
