The Canadian real estate slowdown is putting a drag on GDP numbers. Statistics Canada (StatCan) numbers show residential investment fell for a fifth consecutive quarter in Q1 2019. Historically, a decline in residential investment in countries with high levels of ownership are a recession flag. Residential Investment and Why You Care Residential investment (a.k.a. residential […]
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Debt Hits A New Record, $1.56 Trillion Outstanding Canadian mortgage debt reached a new all-time high. There was over $1.56 trillion in mortgage debt outstanding in April, up 3.2% from last year. While there is some growth, it’s extremely […]
Greater Vancouver real estate didn’t experience that spring bounce people were expecting. Real Estate Board of Greater Vancouver (REBGV) numbers show prices are down in May. The decline in prices was largely due to a sharp decline in sales, and an increase in inventory. Vancouver Real Estate Prices Drop Over 8% The price of a […]
Slower Canadian real estate sales are putting a drag on mortgage credit growth. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record high in April. The new record came with stalled growth, but there were some signs a small bump could be on the way. Canadians Owe Over $1.56 Trillion In […]
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Housing Is The Least Affordable In The World… For Local Incomes Canadian real estate prices are the least affordable of advanced economies. Canada’s house price to income ratio reached 122.9% in Q4 2018, up 2% from the year before. […]
Greater Vancouver real estate is seeing the new condo pre-sale market get hit hard. MLA Canada, a prominent Vancouver real estate marketing and analytics firm, numbers show condo apartment sales fell in April. The decline in sales has led to weaker absorption of new project launches. Developers plan to delay thousands of units, in anticipation […]
Don’t worry, Canadians are still using their homes as ATMs. Office of the Superintendent of Financial Institutions (OSFI) filings show a new debt record in April. The balance of loans secured by residential real estate reached an all-time high. While the segment of debt is slowing in growth, it’s growing faster than national home prices. […]
Greater Vancouver real estate’s hot spring market hasn’t materialized as of yet. Real Estate Board of Greater Vancouver (REBGV) numbers show condo apartment prices were down substantially in April. Last month was also saw the fewest sales in over a decade, which pushed inventory much higher. Vancouver Condo Prices Fail To Rise In April The […]
Demand for Canadian real estate is picking up in some markets, but it’s still far from where it used to be. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio fell across Canada in April. Markets that underperformed the national price boom in 2017, now lead demand growth. British Columbia, once […]
Canadian home prices have been growing at a breakneck speed, and incomes aren’t even close to keeping up. Organisation for Economic Co-operation and Development (OECD) numbers show Canada topped the house price to income index. Canada’s gap between house price and income growth grew so fast, it tops the list of high-income, advanced economies. House […]
