Toronto is still the King of North American real estate development. The Rider Levett Bucknall (RLB) Crane Index shows Toronto had 120 active construction cranes in July. Toronto not only tops the list for the most real estate development in North America. It also has more than twice the number of active construction cranes than […]
Money laundering in Canadian real estate is a widely accepted fact of life these days, but the impact isn’t. Government and academics are still debating how much money is needed to distort a market. The truth is, not a whole lot is required to distort any asset market. This is a problem the stock market […]
There were a lot less Canadian real estate buyers than normal last month. Canadian Real Estate Association (CREA) numbers show a drop in sales for February. The decline makes it one of the slowest Februaries for real estate sales in over a decade. Canadian Real Estate Sales Print Worst February In Over 12 Years Canadian […]
Canadian household borrowing rates may have hit a wall. Bank of Canada (BoC) numbers show the effective household borrowing rate stalled in December, for 4 consecutive weeks. The rate, which is the typical interest rate paid by households, is still substantially higher than last year. Effective Borrowing Rates The effective borrowing rate is the typical […]
Canada’s central bank has officially started to help out with mortgage liquidity. The Bank of Canada (BoC) announced their intention to buy Canada Mortgage Bonds at the end of November. The Bank bought nearly quarter of a billion of the bonds less than three weeks later. WTF Is A Canada Mortgage Bond? Canada Mortgage Bonds […]
The Toronto real estate sold data drama continues, after less than a month of being published. Toronto Real Estate Board (TREB) notified members that there have been reports of false sold data being submitted to the MLS. Agents looking to “protect” consumer privacy have submitted false sold information, to obfuscate how much was really paid […]
The Canadian real estate market is slowing down, and it’s hitting mortgages. Bank of Canada (BoC) numbers show mortgage credit grinded to a halt in July. The annual rate of mortgage growth fell to the lowest level in nearly 18 years, and is set up to go lower. Canadians Owe Over $1.52 Trillion In Mortgage […]
Time for your weekly cheat sheet on the most important stories of the week. Canadian Real Estate Canadians Withdraw Another $2 Billion In Home Equity Over A Month Canadians are (still) looking to extract equity from their homes at a record pace. The balance of loans secured in June hit $286.81 billion, up $1.966 billion […]
Canadian real estate sales continue fall to new lows. Canadian Real Estate Association (CREA) numbers show only 3 markets with more than 500 sales had year over year growth. Those that did see growth, only saw mild growth compared to previous years. The exception is Toronto, but that isn’t what it appears to be either. […]
Toronto real estate saw a minor price acceleration last month, and condos were no exception. Toronto Real Estate Board (TREB) numbers show the price of a typical condo is just below the all-time high. For the first time since December, annual price gains stopped decelerating. This could be a sign of the market getting ready […]
