Canadian real estate has a rock-solid reputation with consumers but institutions are warning each other to be careful. Global credit rating agency Moody’s shared their latest Canadian mortgage market assessment. After stress testing portfolios, the agency warns mortgages are “riskier” for lenders. Big lenders are now more concentrated in BC and Ontario, where home prices […]
Greater Toronto real estate prices were cooling but have reversed course post-election. Toronto Regional Real Estate Board (TRREB) data shows prices surged higher in October. Not a little either, but a typical home saw a monthly increase of nearly a year’s pay at the median wage. Stimulus driven pandemic demand met typical October inventory to […]
It’s not just Toronto or Vancouver real estate. Canadian home prices have risen so fast, they’re no longer affordable for Canadians in general. The Desjardins Affordability Index (DAI) shows housing became less affordable in Q3 2021. Falling incomes and rising home prices combined to create a national affordability crisis. The financial institution doesn’t see much […]
We talk to investigative reporter Sam Cooper about his new best-seller Wilful Blindness. He unpacks how global crime networks, corrupt officials, and money laundering are inflating real estate prices in Toronto and Vancouver, as well as other global cities.
Toronto’s new home sales are re-entering the atmosphere but forming two distinct markets. BILD GTA and Altus Group data shows new home sales fell in September. Even with the dip, the volume remains historically strong for all segments. Prices are a little more complicated, with single-family homes soaring and condos dropping. Toronto Single-Family Home Prices […]
Canadian real estate is very overvalued, according to a massive credit rating agency. Moody’s Analytics released its Canadian real estate model this week. The firm’s model shows markets are overvalued by up to 91% across the country. As disastrous as that sounds, the firm isn’t expecting a big housing crash. The baseline model shows low […]
Canada is making a triumphant return to feudalism, where homeownership requires family wealth. A CIBC Capital Markets analysis shows 30% of first-time homebuyers received a down payment “gift.” Not a little help either, but it was the primary source of funds for the majority that received a gift. It’s now occurring at such a scale, […]
Time for your cheat on this week’s most important stories. Canadian Real Estate The World Has Millions Of Vacant Homes, And 1.3 Million Are In Canada: OECD Millions of homes sit vacant across the world, and Canada is one of the worst offenders. OECD data shows 1.34 million vacant homes in Canada, the fifth highest […]
Canadian consumers are lowering their expectations for home price gains. The Bank of Canada (BoC) released its Q3 2021 Survey of Consumer Expectations. One key takeaway from the survey is the household forecast of home price growth. The latest survey shows consumers lowered their expectations for how much prices will rise over the next year. […]
Think Toronto or Vancouver real estate is too expensive? Then consider more affordable places like Los Angeles, New York, or San Francisco. Oxford Economics released its North American Housing Affordability Index (HAI) for Q2 2021. The global forecasting firm found affordability has deteriorated across North America. Toronto and Vancouver real estate were in a league […]
