Canadian real estate is in for a short-term boost, but market factors are likely to cool demand. BMO‘s Robert Kavcic’s latest research note covered Toronto real estate’s September boom. The bank’s senior economist sees a short-term boost to demand, as conditions tighten. This should be tempered by a rising rate environment in the not-so-distant future. […]
Ontario residents are leaving the province, but where are they heading? Statistics Canada (Stat Can) interprovincial migration data for Q2 2021 shows out West, mostly. Here’s where people fleeing Ontario have been heading during the pandemic. Ontario Lost Over 37,000 People To Other Provinces In Just A Quarter Ontario residents have been moving in unusually […]
Greater Toronto real estate prices are once again soaring after a post-election boom. Toronto Regional Real Estate Board (TRREB) data shows composite home prices climbed in September. Price growth had been decelerating after peaking in the summer, but accelerated suddenly. Only one month of acceleration is too early to say the slowdown has reversed. However, […]
First it was Vancouver… then Toronto. Add Halifax to the list. Then Niagara, Hamilton… Woodstock? Don’t worry, I have no idea where that is either. Canadian real estate is now so frothy even the government can’t ignore it. The Canada Mortgage and Housing Corporation (CMHC) published its Q3 2021 Housing Market Assessment (HMA). In it […]
Canadian households are now so indebted, it exceeds the annual output of the economy. Statistics Canada (Stat Can) data shows the gross domestic product (GDP) printed modest quarterly growth in Q2 2021. The growth was dwarfed by household debt, which now exceeds the size of the country’s GDP. Economies with such large household debt loads […]
Canadians are about to see a flood of housing supply like they’ve never seen before. An RBC analysis found multi-year highs for various stages of new home construction in Q2 2021. New housing starts reached the highest level in over three decades. Homes completed are expected to hit a similar multi-decade high in the next […]
Canadian bond yields have been sliding for the past few weeks, but that changed pretty fast. Global bond yields surged on Thursday after central banks expressed hawkish views overnight. By communicating their intention to ease stimulus, an abrupt market change occurred. Long-term yields have now climbed to the highest level in months. Experts say this […]
Canada plans to increase credit access for the country’s riskiest borrowers in the years to come. A re-elected government may not seem like change, but they promised a big one — larger insured mortgages. High-ratio borrowers will see an increase of up to 25% of their maximum mortgage size. Expansion of credit during a low […]
The Canadian election is over and the country’s leadership remains largely unchanged. However, a laundry list of election promises mean big changes to real estate are coming. Most of the promised plan seeks to create more demand for housing, which softens price drops. Expect more of the same currently being done, but with a revamped […]
Canadian real estate is expected to be slow for the rest of this year, but it won’t last very long. The Canadian Real Estate Association (CREA) shared their 2021 forecast. In the forecast for this year, they see minimal movement from the current average sale price. Next year they see huge gains returning, especially in […]
