Many of Canada’s Peak Real Estate Buyers Might Already Be Underwater
Many Canadian real estate buyers at the March 2022 that left a minimum down payment might be holding property worth less than they borrowed.
Canada’s Rising Mortgage Rates Is Bad News For Borrowers, But Not The Economy: NBF
Higher Canadian mortgage rates will reduce disposable income, but the reduction is much smaller than the current rate of inflation.
Canadian Real Estate Is Worse Than Official Data Shows, BMO Revises Forecast Lower
BMO made a downward revision to its Canadian real estate forecast as the bank notes a surge in cancelled listings and failed closings.
Canadian Cities Have Seen Investors Buy Up To 100% of Newly Constructed Condos
Most condo apartments built since 2016 have non-occupying ownership across Canadian real estate markets, according to 2020 property records.
A Lot of Canadian Real Estate Owners Decided To Own 4 Or More Homes In 2020
When the pandemic hit Canadians bought as much toilet paper and real estate they could find. We took a dive through data provided by the Canadian Housing Statistics Program (CHSP) on homeownership in 2020. A massive share of Canadian homeowners aren’t stopping at 1 home, but provinces have seen up to 1 in 5 owners […]
Canada’s Housing Supply Has Outpaced Household Formation For Two Decades: BMO
Canada’s oldest bank is doubling down on its claim the housing supply shortage is a myth. BMO Capital Markets wrote to clients on Thursday morning with another data point — completions compared to household formations. The bank’s analysis argues housing completions have outpaced household formations for two decades. However, easy credit and wave after wave […]
Canadian Cities Have Seen Up To 1 In 8 Newly Built Homes Go To Non-Residents
Canadian real estate has long been a safe place for global investors to park cash. Low scrutiny, few barriers, and little to no data collection on ownership, made it ideal. Statistics Canada (Stat Can) non-resident owner data from the Canadian Housing Statistics Program (CHSP) shows just how popular it was in 2020. The program, mostly […]
Canadian Housing Starts Fell In June But Remain Significantly Elevated
Construction of new housing supply suffered a mild setback, but remains historically elevated. Canada Mortgage and Housing Corporation (CMHC) data shows new home starts fell in June. The drop was only slight, with the number of units still much higher than anything seen in the 2000s or 2010s. Big cities like Toronto and Vancouver even […]
RBC Warns Canada’s Real Estate Price Correction Is Spreading, Calls Double-Digit Drop
Earlier this year, Canada’s largest bank forecasted low home price growth. However, RBC warned risk was slanted to the downside which is now here. In the bank’s commentary on existing-home sales, they found the correction is spreading. As a result, the bank now expects prices to fall across the country over the next few months. […]
Canadian Real Estate Prices Fell An Average of $1k Per Day Last Month
Few would believe it just a few weeks ago, but Canadian real estate is falling as fast as it climbed. Canadian Real Estate Association (CREA) data shows benchmark prices fell in June. The benchmark, a typical home, actually declined by an average of nearly $1,000 per day last month. Almost all 2022 gains have been […]
