Low income Canadians are going to have a heck of a time finding new rental housing. A Canada Mortgage and Housing Corporation (CMHC) analysis shows how much rental stock is affordable by income quintile in 2020. Affordability is defined as purpose-built units that cost less than 30% of each quintile income. For those that skipped […]
Greater Vancouver real estate is soaring, but it’s uneven across the region, and all segments. Real Estate Board of Greater Vancouver (REBGV) data shows prices generally advanced in December. Suburban homes represented most of the price gains. The City’s condo apartments even continued to see price growth decelerate. Greater Vancouver Real Estate Prices Rise 5.5% […]
Canadians act cheery, but most are feeling a big drop in the quality of their life during the pandemic. A Statistics Canada (StatCan) analysis shows how the average person’s life satisfaction has changed between 2018 and 2020. The agency found polarization in scores – a higher level at the top and bottom, with less middle […]
Canadians are falling behind on their rent. A lot of them. Canada Mortgage and Housing Corporation (CMHC) data shows rent in arrears at purpose built rentals in 2020. Over 125,000 Canadians were behind on rent in October, with almost a third located in Toronto. Despite the large number, it likely only represents a fraction of […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Real Estate Prices Are High Because Canadians Want To Pay More, Says BMO Economist A Big Six bank believes they figured out why Canadian real estate prices are high – buyers want them to be. BMO’s latest analysis shows Canadian homeowners […]
Households in Canada’s largest real estate markets are big premiums to own. Canada Mortgage and Housing Corporation (CMHC) analysis shows the gap between the cost of owning and renting in 2020. Carrying costs in the largest market are now almost double that of paying rent. That isn’t a general rule though, with some markets cheaper […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Prices Grew Over 25x Faster Than U.S. Prices Since 2005 Poor policy choices have led to a comically large gap between Canadian and US home prices. Canadian home prices generally move in line with US home prices, but […]
Canadian real estate prices are growing to comical levels, as bad policy stacks up. U.S Federal Reserve data shows real adjusted home prices increased at double the pace of the U.S in Q3 2020. As big as the gain is, it’s one of many times Canadian real estate prices have outperformed the U.S. home prices. […]
Greater Vancouver residents have been fleeing to the country. New Statistics Canada (Stat Can) data shows the migration pattern of people from Vancouver CMA in 2019. Tens of thousands of former residents ditched the city for other parts of the country. Rural B.C. was the biggest winner of former residents, but so were other big […]
Canada’s real estate markets ended the year with an unusually busy month, without a lot of sellers. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio climbed across the country in December. Every major market saw much tighter inventory than last year, relative to sales. Over three-quarters of markets are “seller’s […]
