Greater Toronto new home sales cooled abruptly, as pent-up demand collapsed. BILD GTA and Altus Group data shows a sharp decline in new home sales for February. The drop hit the City the most, especially in the condo apartment segment. While the drop was sharp, total sales for the month were more in line with […]
We’ve all heard the Canadian real estate stories, especially in Greater Toronto. An agent lists a property below market value, and dozens of offers pour in. It eventually sells much higher than the asking price, and sometimes even higher than the comps. Just one issue. How much did everyone below the winning offer bid? Did […]
The Canadian government will not be taxing home equity — at least not under the current administration. Minister Ahmed Hussen, who oversees the country’s housing portfolio, said they will not entertain a tax on home equity, today. This comes after increasing calls from academics, and even banks, to consider doing so. It also comes just […]
Bears have been calling a real estate bubble in Canada for 20 years, and we’re totally wrong. That’s a comment I keep receiving, about an alleged call I made 20 years ago. First of all, I don’t think I spoke to you 20 years ago about housing. Second, if you took advice from a high […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Property Bubble Nears Systemic Failure, And Not Even A Big Crash Can Fix It It’s too late for a real estate price crash to make Canada’s largest markets affordable. That’s what Rob Carrick, one of the country’s top personal finance […]
Canadian real estate markets have become such a large bubble, even a crash can’t fix prices. That’s what the Globe’s Rob Carrick argued earlier this week. The personal finance expert says it’s now too late for young adults in Toronto and Vancouver. Policy failures made markets so inefficient over the past few years, ownership is […]
The Canadian government hasn’t discussed a capital gains tax on real estate, but the industry is already fighting it. Toronto Regional Real Estate Board (TRREB) sent a memo to their members this week. In the memo, they explain why they’ve taken an aggressive position against the yet to be proposed tax. It also happens to […]
Canada’s largest bank warned the country’s real estate markets are approaching systemic risk. Not credit risk, banks are more than adequately protected. Instead they see it as a risk for the whole darn economy. RBC senior economist Robert Hogue, who isn’t a traditional bear, warned the market is out of control. Canada’s nurturing of the […]
The Canadian economy is improving faster than expected, meaning supports can start fading. Bank of Canada (BoC) deputy governor Gravelle announced the end of many market support programs on Tuesday. The economy has improved, meaning the gradual withdrawal of stimulus can now begin. As supports begin to taper, overly easy credit is likely to disappear […]
The Bank of Canada (BoC) head recently dismissed the need to cool real estate prices. Governor Tiff Macklem seems like he doesn’t want to say anything controversial… or he’s one of those people that thinks real estate prices only go up. That wasn’t the case back in 2013, when he served in the central bank’s […]
