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 […]
Two of Canada’s most important markets, which often lead the trend, are moving in an unusual way — together. Despite being across the country from each other, both markets saw a surge in the sales to new listings ratio (SNLR) for July. The measure, which gives a read on demand, shows inventory is getting tighter. […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate The Canadian Property Bubble Has Grown For 24 Years, Longer Than Any Other G7 Canadian real estate is currently in the middle of the longest expansion of home prices in the G7. Home prices in the country have currently gone 24 […]
Canadian home prices made a big jump in the second quarter, especially existing homes. Statistics Canada (Stat Can) data shows large advances in the Big Six real estate markets in Q2 2021. Both new and existing home prices increased very quickly. However, existing home prices grew at twice the rate of new homes. Canada’s Big […]
Toronto real estate is starting to look a little more volatile than it has over the past few months. Toronto Regional Real Estate Board (TRREB) data shows a mixed performance for composite benchmark prices in July 2021. Prices increased across the Greater Region, but actually fell in the City of Toronto. Both regions also saw […]
The largest property bubbles in Canada have officially begun to deflate. Last month we crunched the numbers on what it would take for Toronto and Vancouver housing to maintain its momentum. Failing an enormous monthly price increase in July, the previous month would be the peak. Well, it didn’t hit the target rate of growth […]
Canadian real estate affordability deteriorated so fast, it will delay buyers by years. National Bank of Canada (NBC) crunched the numbers on how long it would take to save a down payment in Q2 2021. Not buy the home, but to just have the minimum required down payment to get a mortgage. Over one quarter, […]
One of the Big Six Canadian banks is seeing an uptick in delinquencies in a key Canadian real estate market. CIBC generally observed a decline in delinquencies for uninsured mortgages in Q2 2021. The data, presented to institutional debt investors, did have one exception — Vancouver. Greater Vancouver’s uninsured mortgage delinquencies made an unexpected surge […]
Canadian home builders have faced soaring labor and material costs, and now there’s confirmation. The Statistics Canada (Stat Can) building construction price index made a record climb in the second quarter of 2021. Costs jumped significantly higher for homebuilders, even if just compared to non-residential construction. Homebuilders saw the fastest increases in “hot” housing markets […]
