Montreal is the next Manhattan. Or maybe Winnipeg. Sorry, it’s definitely St. Johns. Wait… what’s happening? Real estate prices are rising pretty much across the country. Canadian real estate prices are showing the highest level of price synchronization in years. This is when markets, regardless of location, begin to show similar levels of price growth. […]
The warning is coming from inside the house, and it’s not from one of Bay Street’s bears. BMO senior economist Robert Kavcic said Canada is “playing with fire” in a note this week. Looking at the percent of income needed to carry a mortgage on homes, he doesn’t think 2017 was a bubble. The current […]
Greater Vancouver real estate, once a hot commodity for foreign buyers, is losing appeal. BC’s non-resident homebuyers made a sharp decline in January. That might be a one-off, but last year’s numbers still show a modest drop in foreign buyers. There is an interesting shift in buying behavior though. Greater Vancouver is seeing a smaller […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Tried To Stop Real Estate Prices From Falling, And Created A Bigger Bubble When news of a global pandemic struck, Canada kicked into action… to prevent real estate prices from falling. By the end of March they started to cut interest […]
Last March, the Canadian government sprung into action when news of a pandemic struck. No, not for PPE as you might guess. An email shows they rejected an offer from a major N95 supplier, stating “masks are not a priority.” If healthcare wasn’t the government’s top priority, what was? Preserving real estate prices, it would […]
Canada’s largest bank sees a lot of risk in real estate, just not where other people may see it. RBC Senior Economist Robert Hogue published a list of risks that may impact real estate markets near-term. The bank feels government aid kept prices moving higher, but the market is “far from risk free.” Here’s some […]
Greater Vancouver suddenly has exuberant homebuyers once again, armed with cheap debt. Real Estate Board of Greater Vancouver (REBGV) data shows composite prices made a big jump in February. Actually, almost all measures of home prices made a big leap. Some segments even added more than $44,000 to the value just last month. Let’s dive […]
Quarterly filings from one of Canada’s largest banks shows unusual weakness in Toronto. CIBC data shows their uninsured mortgage delinquency rate generally fell in Q1 2021. One notable exception is Greater Toronto, which is seeing the rate climb. A rise in the delinquency rate is unexpected for a market with high sale volumes and low […]
Risk models from Canada’s largest bank shows a wider range of uncertainty for real estate. RBC’s latest models, shared with analysts this week, shows a general forecasted improvement. The downside hasn’t changed much, indicating a little more uncertainty. They also shared they are considering two new and “more severe” scenarios for energy and real estate. […]
Canada’s commercial rental market is split, and probably not how most would guess. Statistics Canada (Stat Can) data shows commercial rents are down in Q4 2020. A breakdown shows the decline is largely due to retail rents falling. Despite a broad adoption of work from home, office rents are still chugging to all-time highs. Retail […]
