Get ready for a new round of speculation of a Canadian housing crash

The Canadian housing market’s continued strength was on display again Friday, but news that prices are rising on a national level is sure to drive a new round of crash speculation. The Canadian Real Estate Association said prices were up 6.3% nationally from a year ago to a record $431,812 in February. Even using the […]

Spring comes early to hot housing markets in Toronto, Vancouver, realtors say

TORONTO — Rock-bottom interest rates, a scarcity of supply and growing demand from millennials and wealthy immigrants have fuelled a strong start to the spring real estate season in Toronto and Vancouver. “Spring has come early for both Toronto and Vancouver,” said Sal Guatieri, a senior economist at BMO Capital Markets. Both cities experienced growth […]

The real cost of a $1 million home: Toronto buyers resort to sub-prime loans as prices soar

Just as in Vancouver, Toronto buyers are now scrambling to come up with the 20% downpayment or $200,000 on a $1 million home, if they want to borrow from a major bank. Twitter Google+ LinkedIn Email Typo? More Vancouver has already passed this high water mark, but now it’s Toronto’s turn to Experience the $1 […]

Vancouver home affordability improves on wage gains, but prices continue to climb

Rising Ontario prices created a drag on the national figure for home-ownership affordability, according to a report from the Royal Bank of Canada, which says strong data from Vancouver could impact those numbers even more. RBC said Tuesday it became more expensive to buy a home for a second straight quarter as 2014 closed, news […]

Drawing Conclusions: Is renting a home always a waste of money?

If you’re ready to put down housing roots and buy a home you can afford, owning has financially speaking worked out well for most Canadians. But despite what your parents may tell you, renting doesn’t always mean you’re just “throwing money away.” If you’re disciplined with your finances, then renting can be a perfectly good […]

Calgary homeowners and buyers left wondering what’s next as once-sizzling housing market succumbs to chills

Calgary’s housing market is the hot topic of conversation these days not only in the city but across the country. Mortgage firms tighten lending standards in Calgary as housing boom turns sour The oil that fuelled Calgary’s housing boom has created the conditions for a bust. Genworth MI Canada Inc., the country’s largest non-government mortgage […]

Mortgage risks lingering in the shadows from non-regulated lenders, says CIBC

OTTAWA — The Bank of Canada has made much of the threats to heavily indebted consumers, and the need not to get in over their heads even further — this despite yet more cuts in mortgage rates by commercial banks, fostered by the central bank itself in a weak economic-growth environment. Similar warnings have come […]

Canadian home sales drop 3.1% as ‘sense of panic’ sweeps western markets

TORONTO — Sales of existing homes in Canada slipped further in January as the drop in oil prices hurt homebuyer demand in western Canada, the Canadian Real Estate Association said on Tuesday, with one analyst saying seller panic has set in. Canada’s oil capitals look set for their first major housing correction since 2008 TD […]

Canada’s oil capitals are headed for their first major housing correction since 2008, TD warns

Home prices in Canada’s oil capitals will suffer a correction this year as plunging oil prices turn the nation’s housing market upside-down, say TD economists. Prices are on track to fall as much as 10% in Calgary, Edmonton and St. John’s Newfoundland over 2015 and into 2016 as the collapsing oil industry hits growth, incomes […]

Toronto leads gains in new home prices, while Calgary market declines

Canadian new home prices rose 0.1% in December from the previous month, led by gains in the nation’s largest city, government figures showed. Toronto prices rose 0.2% from November, and by 2.5% for all of last year, Statistics Canada said Thursday from Ottawa. Prices rose 1.7% nationally from the same month a year earlier. New […]

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