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Most Splendid Housing Bubbles in Canada, November Update, after Bank of Canada Ended QE and Put Rate Hikes in Sight
Most Splendid Housing Bubbles in Canada, November Update, after Bank of Canada Ended QE and Put Rate Hikes in Sight Home prices spike in a few cities, “pause” in some, drop in others. Vancouver prices are below August levels. In an amazing development for the Canadian housing market where prices have relentlessly exploded higher – […]
Canada’s Housing Market- Ready to implode!
Canada’s Housing Market- Ready to implode! Despite what the mortgage companies and loan-sharks tell you: All’s NOT hunky-dory with the Canadian real estate scene. Even the government, at all levels – Federal, Provincial, Municipal – are trying desperately to put on a brave face on the impending market correction. However, the numbers never lie. Here’s […]
Canada Has A Subprime Real Estate Problem, You Just Don’t Know It
Canada Has A Subprime Real Estate Problem, You Just Don’t Know It A few weeks ago, a real estate agent told me about his client. Relatively wealthy older dude, closed on not one but two townhouses he plans on flipping. After some questions regarding who financed such a deal, he explains it was a private […]
4 In 10 Canadians Can Not Cover Basic Expenses Without Going Deeper In Debt
4 In 10 Canadians Can Not Cover Basic Expenses Without Going Deeper In Debt Back on July 13, when the BOC hiked rates by 25bps to 0.75% – its first rate hike in 7 years – followed by another unexpected rate hike in September, we documented some troubling trends among Canadian households, including the record […]
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 […]
The “Unequivocally” Divided States Of Canadian Consumers
The “Unequivocally” Divided States Of Canadian Consumers Canada has never been more divided. With Vancouver being taken over by the rich Chinese, and Calgary nearing depression, roles have been dramatically reversed across Canadian provinces as spending in non-energy-producing regions hits a record high relative spending in those dependent on oil… Home prices show the divide between Canada’s […]
House affordability improving in some parts of Canada, National Bank says
House affordability improving in some parts of Canada, National Bank says Mortgage rates probably won’t be dramatically changed by the Bank of Canada’s benchmark overnight rate, economists say. (Sean Kilpatrick/Canadian Press) Amid the continuing escalation in housing prices in the Vancouver and Toronto areas, there are some places in Canada where home affordability is improving, […]
Time Bomb under Canada’s Housing Bubble Makes a Loud Tick
Time Bomb under Canada’s Housing Bubble Makes a Loud Tick The Bank of Canada has been fretting about the ballooning debt of Canadian households. Last year, it repeatedly called it a risk to “financial stability,” perhaps in preparation for raising its benchmark interest rate. Then Canada’s economy tanked. In July, when the freaked-out Bank of Canada cut […]
Shadow mortgage lending on the rise as house prices soar
Shadow mortgage lending on the rise as house prices soar Shadow lending represents about 4 to 5 per cent of Canada’s mortgage market Canada’s housing boom is increasingly driving homebuyers to seek mortgages from private lenders, who demand rates that can be more than five times higher than those charged by the nation’s banks. Canadian […]
Fed chair Yellen tells Canadian homeowners to watch out: Don Pittis
Fed chair Yellen tells Canadian homeowners to watch out: Don Pittis Your mortgage rates are going up, and U.S. Fed chair is pretty specific on how much The financial analysts think they have it figured out. After listening to U.S. Federal Reserve chair Janet Yellen’s speech and her wily answers to questions from reporters, the consensus seems […]
Canadian Mortgage Insurer Tells US Hedge Funds Why Canada’s Housing Bubble Is Immortal. Hilarity Ensues
Canadian Mortgage Insurer Tells US Hedge Funds Why Canada’s Housing Bubble Is Immortal. Hilarity Ensues Home prices in Canada’s two largest metro areas have been red-hot for years. In May, the average selling price for all types of homes in the Greater Toronto Area jumped 11% from a year ago to C$649,600 on a 6% […]
Canadian house prices 35% overvalued, Economist magazine says
Canadian house prices 35% overvalued, Economist magazine says Cheap borrowing costs are driving up prices in markets around the world In a survey of housing costs around the world, the Economist magazine says Canada’s housing prices are 35 per cent overvalued when compared to Canadian incomes. Against the level of Canadian rents, housing prices come […]
Canada Housing, Office Market Mauled by Oil, Layoffs – but Vancouver Bubble Still Soars
Canada Housing, Office Market Mauled by Oil, Layoffs – but Vancouver Bubble Still Soars Back in December, the Bank of Canada said home prices were overvalued by as much as 30% and posed an “elevated” risk to the Canadian financial system. In January, Deutsche Bank found that Canada’s housing market was, more realistically, 63% overvalued. In greater […]
We must face the fact that houses could be the next oil: Don Pittis – Business – CBC News
We must face the fact that houses could be the next oil: Don Pittis – Business – CBC News. Recent reassuring comments about the Canadian housing market remind me of similar blandishments when oil prices began to fall. I wouldn’t want to overemphasize the parallels between houses and petroleum. Indeed, there are many differences in the […]
