Canada quietly put real estate investors on notice, right before the holidays — probably hoping it slips under the radar. A newly re-elected Liberal Party of Canada (LPC) distributed mandate letters. These letters contain orders for the Minister to execute and are usually pretty dry. A big exception is the Minister of Housing’s mandate letter, […]
Canada is known around the world as a place with solid institutions and low levels of corruption. Apparently that claim is made with little data, since few people have ever seen it. The Organized Crime and Corruption Reporting Project (OCCRP) outlined their recent experience in a blog post. They were hoping BC’s money laundering reports […]
Canada’s real estate industry is ratcheting up expectations for next year. The Canadian Real Estate Association (CREA) is forecasting huge growth for the average home price in 2022. Just six months ago, they had been expecting the boom in 2021 to be followed by slow growth. Now in a market flooded with easy money, they […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Has The Biggest Gap Between Real Estate Prices And Incomes In The G7 Canada has the most significant gap between real estate prices and incomes in the G7. The price to income ratio reached 164.8 in Q2 2021, up 19.8% from […]
Canadian real estate buyers are rushing to buy anything they can, from Victoria to St. John’s. National Bank of Canada (National Bank) attributes this to FOMO on low interest rates. The Big Six bank said home buyers are trying to purchase before the Bank of Canada (BoC) raises rates. Especially buyers that have mortgage pre-approvals […]
Canada’s dependence on real estate has homebuyers thinking they’re too-big-to-fail. It’s too dependent on housing to allow prices to crash, so people see it as risk free. Each time a disaster is avoided, the government reinforces the belief buyers can’t lose money. Not a lot of options, they can either support higher and higher home […]
Canada’s oldest bank has a warning for homebuyers — prices don’t always rise. The uncharacteristic message came from BMO‘s chief economist Douglas Porter. Canada has seen few home price corrections, causing homebuyers to think of it as “risk-free.” Not just in Toronto or Vancouver, but virtually every market in the country, all simultaneously. BMO wants […]
Most immigrants in Canada find themselves in just two major regions, and those regions also happen to pay them the worst. Statistics Canada (Stat Can) data shows the median annual income for immigrants in 2019 was much lower in major hubs. Immigrants that arrived 10 years ago are paid much lower in places like Southern […]
Greater Vancouver real estate took a while to notice the credit injection, but it’s making up the lost time. Real Estate Board of Greater Vancouver (REBGV) data shows home prices hit a record in November. The price of a typical home is now rising at the fastest annual rate since 2018. A Typical Home In […]
It doesn’t matter if your city just saw massive price gains; they might see another year of excessive growth, interest rates be damned. That’s essentially the take from Re/max, one of Canada’s largest estate brokerages. The firm is forecasting massive growth across the country next year, with markets rising up to 20% over the next […]
