What’s the secret to Canada’s remarkably low delinquencies, despite soaring interest rates? Never paying off those super-sized mortgages, apparently. Filings from Canada’s Big Six banks show a big share of mortgages had remaining amortizations of 30 years or longer in Q1 2023. Most of the Big Six reported at least a quarter of their portfolio […]
One of Canada’s biggest banks isn’t sold on a quick recovery for real estate prices. The Teranet-National Bank of Canada HPI (TNB HPI) just reported home prices made the largest annual drop on record in March. The economist that prepared the report warns home sales are still too weak to call for a recovery in […]
Canada’s pull back in new housing starts has presented supply concerns, but they shouldn’t… yet. A new analysis from BMO Capital Markets reiterates they don’t see a lack of supply, but too much demand. Looking at the number of new housing starts to working age population growth, they show little deviation from historical norms. However, […]
Canadian real estate prices are rising again, and everyone is scrambling to explain. Sure, you make a compelling argument that [insert any city in Canada] is the next Manhattan. However, Bank of Canada (BoC) data reveals a more blunt answer—witchcraft. Just kidding, it’s the reintroduction of cheap credit and the leverage that comes with it. […]
Canada’s credit-crazy real estate buyers have flooded the market once again. Canadian Real Estate Association (CREA) data shows a benchmark, or typical, home rose in March 2023. Breaking the data down by market, most saw substantial increases. One market even saw prices rip over $40k higher over a span of just 31 days. Canadian Real […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Correction May Be Over As Prices Rip Higher Canada’s real estate correction has seen prices begin to head the other way. A benchmark, or typical home, jumped 1.7% (+$12,300) to $727,700 in March. It was the second consecutive increase […]
Just a few weeks ago, we pondered if Canada’s real estate correction would pause with an influx of cheap credit and government-led stimulus measures. Canadian Real Estate Association (CREA) data released this morning confirmed it, with the benchmark home price rising significantly in March. Asset prices never move in a straight line, so it’s too […]
How unaffordable is Canadian real estate? It’s reached the point that mayors of major cities can’t afford to buy a home in their own city at today’s prices. Not much sympathy from a typical household that makes significantly less. However, it should trigger more questions around how they’re dealing with housing. Are policymakers really that […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Owners Aren’t Selling, Here’s Why Canadian real estate markets are seeing a drop in sales, but it’s the inventory drop that’s concerning. That was the warning BMO Capital Markets sent to investors this week. The reason? A lack of […]
Canada’s busy Spring market hasn’t begun with the typical flood of sellers. BMO Capital Markets warned investors a lack of new listings for sale might be a bigger problem than low sales. They attribute this to a number of factors, but they all boil down to one issue—there’s little reason to sell. Canada is hitting […]
