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Teranet: Canadian Real Estate Prices Drop Most In 7 Years, Led By Toronto
Teranet: Canadian Real Estate Prices Drop Most In 7 Years, Led By Toronto Canadian real estate prices may be softening. Numbers from Teranet show that home prices generally declined across the country in September. This decline is led by a drop in prices around the Greater Toronto Area, extending through the Greater Golden Horseshoe. Although […]
Update on the Deflating Housing Bubble in Toronto
Update on the Deflating Housing Bubble in Toronto Missing Chinese money? Hardest hit is the priciest segment: detached houses. Home sales in the Greater Toronto Area plunged 35% in September compared to a year ago, to 6,379 homes. The plunge in volume was spread across all types of homes. Even condos got hit: Detached houses […]
Toronto Home Price Bubble Descends into Bear Market
Toronto Home Price Bubble Descends into Bear Market With surprise rate hike, Bank of Canada turns against housing market. Home sales in the Greater Toronto Area, the largest housing market in Canada, plunged 34.8% in August compared to a year ago, to 6,357 homes, with sales of detached homes and semi-detached homes getting eviscerated: Sales […]
What slowdown? Vancouver and Toronto real estate markets still hot and unaffordable for many
What slowdown? Vancouver and Toronto real estate markets still hot and unaffordable for many Housing prices are once again climbing in Vancouver and Toronto may soon follow Emelia Symington Fedy with her partner, Christie Watson, and two children in Vancouver — the city the family is leaving because they can’t afford to live there. (Emelia […]
Toronto Housing Market Implodes: Prices Plunge Most On Record
Toronto Housing Market Implodes: Prices Plunge Most On Record Until mid 2017, it appeared that nothing could stop the Toronto home price juggernaut: And yet, In early May we wrote that “The Toronto Housing Market Is About To Collapse“, when we showed the flood of new home listings that had hit the market the market, […]
Canadian Home Sales Crash In June
Canadian Home Sales Crash In June The Canadian Real Estate Association says home sales in June posted their largest monthly drop since 2010, with the Greater Toronto market leading the decline. This is the third monthly decline in a row… Under the covers, it’s Toronto that is suffering the most… Toronto existing home sales drop […]
China’s “Ghost Collateral” Arrives In Canada, “Heralding A Crisis”
China’s “Ghost Collateral” Arrives In Canada, “Heralding A Crisis” Two weeks ago, a key China-linked concern that made headlines back in 2013 and 2014 reemerged after an extensive analysis by Reuters reporter Engen Tham found that China’s “ghost collateral” problem, or collateral that was either rehypothecated between two or more loans, or simply did not […]
‘The worst scenario’: What if Canada’s real estate bubble bursts?
‘The worst scenario’: What if Canada’s real estate bubble bursts? A repeat of Toronto’s 1989 crash could have devastating effects on the entire economy Builders work on a new home in North Vancouver in 2016. The average home price in Canada climbed by 10 per cent to $559,317 in April, the Canadian Real Estate Association […]
Sorry Vancouver, But Toronto Is The King Of Risky Mortgage Debt
Sorry Vancouver, But Toronto Is The King Of Risky Mortgage Debt Canadian real estate values continue to soar, and a record number of buyers are piling into risky loans. According to the Bank of Canada (BoC), and the Ministry of Finance (MoF), high ratio mortgage borrowers are extending themselves to the limit. While we covered […]
Toronto homeowners cash out of hot real estate market amid uncertainty
Toronto homeowners cash out of hot real estate market amid uncertainty Agent says some buyers are delaying purchases in anticipation of possible fixes Many buyers and sellers are waiting to see what will come of Tuesday’s scheduled meeting between Finance Minister Bill Morneau, Ontario Finance Minister Charles Sousa and Toronto Mayor John Tory, who are […]
Toronto House Price Bubble Goes Nuts
Toronto House Price Bubble Goes Nuts Based on fundamentals? You gotta be kidding. Residential property sales in Greater Toronto soared 17.7% year-over-year to 12,077 homes, according to the Toronto Real Estate Board (TREB). New listings jumped 15.2% to 17,052. Prices for all types of homes, based on the MLS Home Price Index Composite “Benchmark,” soared […]
“This Is Going To Blow Sky High” – Observations On Canada’s Housing Market
“This Is Going To Blow Sky High” – Observations On Canada’s Housing Market For months we’ve been warning about real estate bubbles re-emerging in various markets around the world from Canada to Australia (see “There Are 66,719 Empty Mansions In Vancouver” and “Vancouver Home Sales Crash 40%, As Toronto Home Prices Soar 22%“). And while […]
There’s No Plateau in a Housing Bubble, Not Even in Canada
There’s No Plateau in a Housing Bubble, Not Even in Canada Vancouver in turmoil, Toronto spikes. Canadian house prices jumped 11.7% in September from a year ago, according to The Teranet–National Bank National Composite House Price Index released today. But the index papers beautifully over the dynamics in each metro. In six of the 11 […]
Foreign Buying Plummets In Vancouver: Sales To Foreigners Crash 96%
Foreign Buying Plummets In Vancouver: Sales To Foreigners Crash 96% China’s favorite offshore money laundering hub is officially no longer accepting its money. According to data released by British Columbia’s Ministry of Finance on Thursday, foreign investors officially disappeared from Vancouver’s property market last month after the local government imposed a 15% surcharge to curb a […]
Canadian Housing Bubble, Debt Stir Financial Crisis Fears
Canadian Housing Bubble, Debt Stir Financial Crisis Fears Their bone-chilling chart. Everyone is fretting about the Canadian house price bubble and the mountain of debt it generates – from the IMF on down to the regular Canadian. Now even the Bank for International Settlement (BIS) and the Organization for Economic Co-operation and Development (OECD) warn about […]
