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CMHC: 55% Of Toronto And Vancouver Real Estate Buyers Were In A Bidding War
CMHC: 55% Of Toronto And Vancouver Real Estate Buyers Were In A Bidding War Have you ever woke up after a night of drinking, and only had a vague recollection of what happened? Then your responsible friend sets off a chain of text messages, trying to figure out where you went wrong? Well that’s what […]
Canada Home Prices Fall from Year Ago for First Time since 2009
Canada Home Prices Fall from Year Ago for First Time since 2009 The magnificent house price bubble wheezes. With 2017 mortgage pre-approvals having now expired, the first wave of buyers facing OSFI’s ground breaking mortgage regulations are being put to the test. The regulations, also known as B-20, require all borrowers to pass a stress […]
Rate Squeeze in Vancouver & Toronto Housing Bubbles
Rate Squeeze in Vancouver & Toronto Housing Bubbles Variable-rate mortgages, the HELOC phenomenon, and new stress tests meet higher rates. The Bank of Canada raised interest rates another 25 basis points last week. It was the third time in the past six months. Rates have more than doubled in that time, going from 0.50% to […]
Behind Vancouver’s Housing Bubble: How Canadian Casinos Are Use To Launder Millions In Chinese Drug Money
Behind Vancouver’s Housing Bubble: How Canadian Casinos Are Use To Launder Millions In Chinese Drug Money Nearly two years after we first observed that Vancouver‘s soaring real estate market is nothing but a bubbling melange of criminal Chinese oligarch “hot money”, desperate to get parked offshore in any piece of real estate, but mostly in […]
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 […]
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 […]
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 […]
“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 Are 66,719 Empty Mansions In Vancouver
There Are 66,719 Empty Mansions In Vancouver One year ago, when we first started discussing the Vancouver housing bubble, which as we first speculated – and was later confirmed – was the result of Chinese oligarch money-launderers parking “hot cash” in this offshore housing market (at least until a 15% property tax on foreign purchases made Seattle the […]
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 […]
Fear Spreads of a Housing Crash in Canada
Fear Spreads of a Housing Crash in Canada More Canadians sour on their Magnificent Housing Bubble. Canadians have been gung-ho about their magnificent housing bubble, feeding it with an endless willingness to pay every higher prices, even as regulators and international institutions issued warnings, as short sellers began circling, as subprime liar-loan scandals made their reappearance, and […]
Ottawa sets up working group to monitor housing market
Ottawa sets up working group to monitor housing market Finance Minister Bill Morneau says he will work with cities and provinces to get more and better data Policymakers are looking at all the tools at their disposal to take care of the housing market. (David Donnelly/CBC) The federal government plans to work with British Columbia […]
