Canadian real estate inventory suddenly became a little more scarce last month. An uptick in the sales to new listings ratio (SNLR) has agents saying a second wave of growth is coming. It’s true an increase in the ratio tends to be positive for price growth, but a single uptick isn’t the same. When the […]
Canada’s highly indebted households didn’t see their finances improve during the pandemic. Many did get a lot more neat stuff they couldn’t afford without low interest rates though. That’s the takeaway from the MNP Consumer Debt Index, conducted quarterly by Ipsos. The poll found a third of Canadians consider themselves “house poor.” Even more are […]
Canadian new home sales have been a little soft, putting a drag on new home starts. Canada Mortgage and Housing Corporation (CMHC) data shows new housing starts slipped lower in July. The decline shows a little moderation from the all-time peak a few months ago. Even with the decline though, new starts are higher than […]
Canadian home sales continue to cool, logging another month of declining volumes. Canadian Real Estate Association (CREA) data shows home sales fell in July 2021. It was the first annual decline seen in over a year. Despite the negative factors, it was still the second biggest July for home sales ever. Canadian Home Sales Fell […]
Canadian immigration is starting to improve to pre-pandemic levels. Government of Canada (GoC) data shows permanent residents admitted made a big jump in Q2 2021. The increase was actually enough to push the quarter to pre-pandemic levels. Admissions are still relatively weak, but it’s a huge improvement from the end of last year. Especially in […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Largest Source Of Money Laundered Funds For Real Estate Is… Canadians Dirty money from Canada is the biggest source of cash laundered through real estate. Global Financial Integrity (GFI) conducted a study, and found US$626.3 million ($822.7 million) of real […]
Canadian real estate has seen record sales and record prices — fueled by record mortgage debt. Bank of Canada (BoC) data shows banks held a record amount of mortgage debt in Q1 2021. If broken down by region, we can see Ontario and PEI are the fastest-growing markets. Considering Ontario is such a large balance, […]
Canadians are world-class when it comes to real estate… money laundering. Not just when it comes to laundering foreign capital, but the domestic stuff as well. That’s the take from the data shared by Global Financial Integrity (GFI). The Washington, DC-based anti-corruption organization found significant cash laundered through real estate. They only really scratched the […]
Canada’s massive multi-billion dollar program to create affordable housing will only have a “limited” impact. That’s the take from the non-partisan Parliamentary Budget Officer (PBO), tasked with explaining the numbers behind policies, to lawmakers. They found the federal program is billed as a “$70+ billion plan,” but failed to find a significant impact. In fact, […]
Toronto condo prices are falling, according to the country’s biggest real estate board. Though people are bidding over ask, and inventory is tightening, paradoxically. That’s what the Toronto Regional Real Estate Board (TRREB) data shows for July. The mix of indicators all adds up to a balanced market, but the picture of where it’s heading […]
