Global economies are becoming more interconnected, and so are real estate markets. Researchers at the International Monetary Fund (IMF) measured prices in 44 cities, and 40 countries – both in advanced and emerging markets. What they found is that whole countries are seeing real estate prices in the closest synchronization since the Great Recession. Even […]
Canadian real estate drove debt levels across the country to a new record high, but higher interest rates have kicked off a deceleration of growth.
Canada’s seemingly never ending supply of real estate buyers is finally starting to dry up, as mortgage growth falls to a 17 year low.
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Toronto Real Estate Leads The Country In Average Price Declines, Saint John Pops Higher Ontario is seeing the fastest declines in average sale prices, while Eastern Canada is moving higher. Toronto led the decline with an average sale price of $804,584 […]
The average sale price of Canadian real estate is falling, and fast. Canadian Real Estate Association (CREA) numbers show the average price of a home is down 11.3% in April 2018. Most of the declines are being attributed to the country’s largest and fastest falling real estate market – Toronto. Yeah, I haven’t heard of […]
Vancouver real estate debt has been soaring, but how much other debt do households have? Equifax numbers from the Canada Mortgage and Housing Corporation (CMHC) show that the majority of debt is real estate related, but there’s still a whack of consumer debt. When broken down into payments, more than a third goes to servicing […]
Last year’s hottest real estate markets, are this year’s fastest cooling ones. Canadian Real Estate Association (CREA) numbers show the majority of markets saw the sales-to-new listings ratio (SNLR) decline significantly in April. There were a few markets that are seeing the ratio rise, almost all located East of Toronto. The fastest cooling markets were […]
Time for your weekly cheat sheet on this week’s top real estate stories. Canadian Real Estate Canadians Borrowed Another Billion Against Their Homes Over A 31 Day Period Canadians are increasingly tapping their home equity for short-term loans. Total HELOC balances reached $284.64 billion in outstanding debt. That means Canadians racked up an extra $994 […]
Canadian real estate continues to be used as an ATM to drive the economy. Office of the Superintendent of Financial Institutions (OSFI) numbers show the balance of loans secured with homes hit a new high in March. While the outstanding balance did hit a new all-time high, we did witness the first taper of growth […]
Toronto condos printed a new all-time high for the fifth consecutive month. However, rapidly decelerating price growth may indicate we’re approaching the end of this run.
