Canadian real estate prices are falling about as fast as they climbed earlier this year. BMO Capital Markets long maintained Canada didn’t have a housing shortage but an excess of exuberance. As price gains slow, they are proven right as more people now expect prices to fall instead of rise. Following today’s rate hike, the […]
Global Real Estate Pandemic Real Estate Boom Due To Cheap Debt, Not Lack of Supply: US Federal Reserve It’s the credit, stupid. That’s basically the conclusion from a US Federal Reserve Board staff paper. The paper examined the price levers that have made home prices move, both from a supply and demand angle. Paying special […]
Greater Vancouver real estate prices only showed a mild pullback while Toronto was plummeting, but it’s making up for lost time. Real Estate Board of Greater Vancouver (REBGV) data shows the benchmark price made a sharp drop in June. After barely budging in May, prices are now falling tens of thousands per week. Greater Vancouver […]
Canadian real estate prices got a big boost from central bank stimulus, sparking a speculative frenzy. That frenzy is coming to an end fast, with more than half of major markets off peak. A pullback is expected after rapid price increases for real estate markets. What’s unexpected is the pace of the pullback, possibly one […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices Are On Track To Drop $68k By Mid-Summer Higher interest rates have knocked the exuberance out of Canadian real estate. The sales to new listings ratio (SNLR) historically has led annual price growth by 3 months. It’s so […]
Canada’s addiction to real estate-driven growth won’t be easy to break, being such a large share of the economy. Statistics Canada (Stat Can) released annual provincial data for Real Estate and Rental and Leasing (RERL). RERL is a share of gross domestic product (GDP) sourced from real estate services. Over the past two decades, RERL […]
Bubble Contagion? Bank of Canada Finds Suburban Real Estate Prices Outgrew The City Canadian real estate prices have made absurd gains over the past year, especially in big city suburbs. A new study from the Bank of Canada (BoC) looked at this phenomenon, observing the gap between city centers and the suburbs has been quickly […]
Canadian real estate has cooled even faster than bears assumed possible. The sales to new listings ratio (SNLR) indicates it’s just getting started. If historic patterns hold true, the market will see all of 2022’s gains disappear by mid-summer. Unless something changes the trend, home prices are heading in the direction of improved affordability. Sales […]
Canada’s booming population growth is obfuscating a trend policymakers should be watching — emigration. Emigration, the act of moving from a country, saw an unusual surge in Q1 2022. It was the biggest Q1 for emigration in a half decade, shows Statistics Canada (Stat Can) data. The recent surge marks the end of a trend […]
A Canadian lawmaker wants answers after BC’s money laundering inquiry condemned Federal agencies. Member of Parliament (MP) Adam Chambers is gauging support for a Federal inquiry into money laundering. Due to many failures Canada’s economy has become as reliant on money laundering as the US was on housing in ’06. Now the Simcoe North MP […]
