Ontario is out, and the coasts are in according to the latest population growth data. Statistics Canada (Stat Can) quarterly population estimates were released for Q1 2021. Interprovincial migration data shows Ontario lost more Canadians than it could attract. Affordable provinces such as Quebec and Nova Scotia were able to show a net gain. BC […]
Homebuyers fled big cities like Toronto during the pandemic, searching for suburban deals. Most of those deals are now gone, as small cities and rural Ontario saw prices soar. BMO senior economist Robert Kavcic argues this in his latest client research note. The gap between buying in a big city like Toronto, and a small […]
Tales of big city buyers pushing prices higher in small towns has more data confirmation. Teranet, Ontario’s private land registry operator, conducted a study on provincial migration. They found existing homeowners migrated in record numbers over the past 3 quarters. Owners fleeing Toronto paid much more than the average migrating household as well. This likely […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate The Canadian Property Bubble Inflation Is Now 75% Of Net-Worth Growth Canadian households are unusually dependent on real estate generating their wealth these days. The first quarter of 2021 saw 76.96% of net-worth from increased real estate values. This is the […]
The economy made some improvements but is still overly debt-dependent. That’s what the latest household debt to GDP data from Statistics Canada (Stat Can) shows for Q1 2021. The ratio is significantly higher than a year ago, but that aside — it was high before the pandemic. Canadian households make Americans before the Great Recession […]
Another Canadian real estate developer is asking buyers to cover soaring material costs. Delpark Homes, a Greater Toronto real estate developer, is the latest to ask buyers for a top-up. Recently soaring material costs, such as lumber, have crushed homebuilding margins. Since new homes are often bought years ago, an unexpected rise in costs can […]
There is no better time to teach a child how to apply for a mortgage, than during a real estate bubble, amiright? The Government of Ontario released some details on the new Grade 9 curriculum. Education minister Stephen Lecce announced math classes will now include financial literacy to make it more relatable to youth. Of […]
One of Canada’s largest financial institutions sees the market cooling. Desjardins senior economist Benoit Durocher expects real estate to stabilize soon. This won’t be due to government action or new policy measures though. He sees the cooling as a result of a lack of affordability, and the economy reopening. Stabilization is most likely, but cooling […]
Canadian real estate prices are rising, but no where is quite like Ontario right now. Canadian Real Estate Association (CREA) April data shows up to 50% annual price growth in the province. Every major market has seen composite home prices rise at least $100,000 since last year. It doesn’t matter if it’s in a big […]
The most important book on Canadian real estate you’ll read this year isn’t about demographics or interest rates. It’s investigative journalist Sam Cooper’s new book, Wilful Blindness: How A Network of Narcos, Tycoons and CCP Agents Infiltrated The West. The controversial best-seller outlines how business tycoons and China set out for a power grab 40 […]
