Deutsche Bank reveals 7 reasons why ‘Canada is in serious trouble,’ starting with a 63% overvalued housing market

Deutsche Bank’s chief international economist Torsten Sløk has circulated a chart deck looking at global housing markets, and Canada stands out as having quite a few problems. According to the report, homes in Canada are 63 per cent overvalued, greater than the 50 per cent levels in Australia and Norway, Deutsche Bank AG said in […]

Sales of Canadian homes worth over $1M grew substantially last year and will again in 2015

bTORONTO — Sales of homes worth over $1 million increased in four major Canadian real estate markets last year, according to a report released by Sotheby’s International Realty on Wednesday. The Toronto area saw year-over-year sales growth of 38 per cent, while sales of Vancouver’s high-end homes rose by 25 per cent from the previous […]

Oil prices are making housing forecasts a tough call in Alberta

Plunging oil prices have made it almost too difficult to predict what will happen in the Calgary housing market, according to a new real estate forecast. As Vancouver home prices surge out of reach, businesses worry how to retain staff Business groups are raising the alarm about Vancouver’s ability to attract and retain the talent […]

As Vancouver home prices surge out of reach, businesses worry how to retain staff

VANCOUVER — When Allan Pulga, a communications manager, found out he was going to be a father, he had to make a tough choice — stay in a tiny downtown condo or leave Vancouver. First-time homebuyers are feeling the weight of Canada’s housing boom Bank of CanadaWith rising home prices and hefty student debts, more […]

House shopping in Toronto, Calgary, Vancouver? They’re desperation cities

Toronto. Calgary. Vancouver. They’re all Desperation City as far as young people trying to afford a house are concerned. The theme in housing market forecasts for 2015 so far is steady pricing. Some markets will more or less be flat, while the Big Three markets could rise 3 to 4 per cent. What more could […]

What can mortgage shoppers expect in 2015? Here are five predictions

1. More mortgage restrictions to come With Ottawa paring down its mortgage exposure, the Bank of Canada estimating up to 30 per cent overvaluation in Canada’s housing market, over-indebted consumers and average home prices incessantly breaking records, policy makers will restrict the mortgage market yet again. New limits on government-backed mortgage funding will make it […]

Family dreams of leaving city for less expensive life in small town

For city-dwellers such as Iris and Ryan, the birth of a first child often prompts thoughts of leaving urban living behind for less-expensive digs in a small town where they will be closer to family. But is it worth the likely drop in income and diminished job prospects? Iris, who is on mat leave with […]

How to get your own ‘Vacation House For Free,’ according to this HGTV host

HGTV host Matt Blashaw thinks the chief appeal of a vacation home is its convenience. “It’s an easy vacation,” he explains. “The point is just to go have everything set up the way you want. You know the area, and you know you’re going to have fun.” The vacation may be easy, but the second […]

U.S. rental home shortage lining the pockets of big corporate landlords

Corporate landlords are benefiting from the worst U.S. rental-housing shortage in more than a decade as construction trails demand and more Americans opt to lease rather than buy. There’s an undersupply of single-family houses and apartments to rent for the first time since 2001, according to an analysis by Frank Nothaft, chief economist at mortgage […]

CMHC finally releases foreign ownership data on housing — too bad few believe it

TORONTO • Foreign ownership in the housing market has become a bit of a bogeyman for people who fear a real estate collapse, so Canada Mortgage and Housing Corp. set out to identify whether it really is an issue. CMHC tackles foreign ownership in Canada’s housing market for first time Some pockets of the country […]

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