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, […]
Canada’s improvements in poverty proved to be more transitory than inflation. New survey data from Food Banks Canada (FBC) shows over a fifth of households have recently gone hungry. With inflation running higher than incomes, many households can’t easily absorb rising costs. FBC found more food bank users are citing high inflation and rising shelter […]
Canada’s largest bank is bullish on the economy but not on home prices. RBC regulatory filings reveal they see home prices making a modest decline by next year. That’s if the economy encounters no unexpected hiccups. However, the bank warns they’ve placed more weight to the downside as the outlook darkens. In the downside scenario, […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada Quietly Changed Its First-Time Home Buyer Program To Limit Its Losses Canada is lowering taxpayer exposure to the First-Time Home Buyer Initiative. The program sees the government buy a share of your home, helping to drive payments lower. Canada would […]
Cheap debt turned Canadian real estate into a playground for deep-pocketed investors, with fewer end-users. That was one of the insights in the RBC Q2 2022 earnings call with analysts. Investors now represent almost 1 in 7 residential mortgage dollars they’re owed. RBC’s top brass called it a “sad commentary” to see so few first-time […]
Canada’s largest real estate market is cooling down at a blinding speed. Toronto Regional Real Estate Board (TRREB) data shows home prices fell in May as sales tapered to more historic levels. Falling sales and rising inventory have officially pushed the market into a “buyer’s market,” where prices traditionally begin to drop. Greater Toronto Real […]
Canadian real estate prices are about to get downward pressure not seen in decades. Government of Canada (GoC) 5-year bond yields are soaring and it’ll have a big impact on housing, says BMO. In a research note to investors, they warn mortgage costs are rising towards a decade high. However, the level of mortgage rates […]
Greater Toronto new home prices are finally starting to cool. Data from Altus Group and BILD GTA shows new home prices fell in April. Fewer sales and more inventory definitely contributed to softer prices. However, inventory is still very tight compared to historic levels. More likely, the threat of rising rates deflated exuberance, driving prices […]
France has its catacombs, America has abandoned malls, and Canada has its vacant homes — all 1.3 million of them, according to the OECD. For decades, urban explorers have been touring abandoned buildings and sites. The activity of questionable legality has been a niche subculture for some time. However, the rise of TikTok (and YouTube […]
