Madani predicting bursting bubble… again

Those booming housing markets may make some homeowners rich and provide a short-term boost to the economy, but a Canadian economist is warning about the long-term impact on the country. David Madani, of Capital Economics, said in a report out Friday that while the housing boom supported the economy through the oil shock in 2016, […]

GTA home prices & sales continue to soar…

An announcement made by the Building Industry and Land Development Association (BILD) this week reveals that demand for housing in the Greater Toronto Area is showing no signs of slowing down. The average price of new low-rise homes is up 22 percent from last year, reaching a new high of $992,231 in the month of September […]

Mortgage pros say this is not a bubble…

There is no housing bubble, and any misguided attempts to fix one will cause bigger problems in the long run.  That’s one of the main takeaways of a new report from Mortgage Professionals Canada, an industry group that represents 11,000 mortgage brokers across the country. “Housing bubbles do not exist in Canada,” the group’s chief […]

Update on Toronto’s growth

“UrbanToronto’s Growth to Watch For Series has tracked the hundreds of development proposals and construction projects across the city. Moving from neighbourhood to neighbourhood, each entry of our 16 part series provides a fine-grained overview of local development. With the series now complete, we bring together our 2016 editorials in an exhaustively comprehensive survey of […]

Millennials’ dark financial fears

Far from having their heads buried in the financial sand, twenty– and thirty-something Canadians are feeling anxious, angry and scared about their futures. In December, we asked The Globe’s millennial readers to send us their biggest financial fears. More than 1,200 of them did. The answers varied but certain themes emerged: skyrocketing house prices, an […]

Higher tax on real estate investments?

Higher tax on capital gains unlikely to deter property investment There’s speculation that the federal budget coming Tuesday will include a tax measure that would hit people buying and then selling investment properties in hot housing markets. That’s not how higher taxes on capital gains would be billed, but people buying investment properties in addition […]

BMO slams real estate ‘scaremongers’

BMO and the 33 bears Bank of Montreal’s chief economist is poking the bear in the eye. Douglas Porter looked back over the past several years at comments that predicted the demise of Canada’s housing market, as far back as 2008. All warned that the party was, or would soon be, over. One comment, a […]

Canada’s new mortgage rules: 5 things..

Canadians looking to buy homes between $500,000 and $1 million will have to put down larger down payments as new federal rules took effect Monday. The new rules aim to slow the breakneck pace of price growth in the red-hot markets of Toronto and Vancouver without affecting markets that are lagging. Homebuyers in Canada now […]

Springtime mortgage wars 2016..

It’s become an annual springtime tradition in Canada, one that’s arrived a little early this year: The mortgage rate war.  Ontario’s Meridian Credit Union kicked things off Tuesday with the announcement of a one-year fixed-rate mortgage at 1.69%.  Read more…

Poloz plays down China turmoil

Bank of Canada Governor Stephen Poloz says Canadians should get used to both a cheap dollar and some inflation as the country continues to grapple with the shock of falling commodity prices. The Canadian dollar, now at less than 71 cents (U.S.), is working to offset billions in lost revenue from exports of oil and […]