Risk of condo market overheating: CMHC

Unstoppable condo sales put Toronto market at risk of overheating: CMHC TORONTO STAR – JOSH RUBIN FEBRUARY 20, 2020 The real estate market in the Toronto area is in danger of overheating, with condos driving much of the momentum, according to a new report from the Canada Mortgage and Housing Corporation. The CMHC’s quarterly market assessment, […]

Condo prices still up over 2016

As expected, sales in June 2017 were down year-over-year, although prices were again moderately up, even with more new and active listings coming into the market. “Significantly, condo resale prices soared in pricing by 23.2% in the 416 and 21.4% in the 905, more than double the increase of detached homes, semis and town homes.”

China restricts home buyers

TIANJIN – The northern port city of Tianjin announced measures Friday to restrict home owners from buying new homes to cool the property market. Starting Saturday, single adults (including divorced individuals) and families whose members do not have permanent residence permits, or hukou, will be prohibited from buying new apartments, including second-hand ones, if they already own at […]

Toronto prices are in line with the world…

Toronto’s soaring home prices are in line with the reality of other world cities such as New York, Hong Kong and London, says Mark Renzoni, president of global commercial real estate giant CBRE. “The market is fairly balanced. It’s not being driven by foreign capital. It’s being driven by Canadians, moving up, buying for the […]

Why Ontario prices are expensive…..

There’s a lot going on beneath the surface of southern Ontario’s wild housing market. Realtors say there’s simply not enough supply, and that the provincial government should open up more protected land for development. Federal policy makers, in turn, have been attacking demand with tax and mortgage qualification changes. But Bank of Nova Scotia says […]

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 […]

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 […]

Fed rate hike amid turmoil..

Last week’s volatility in the markets, highlighted by further implosions in the high-yield and energy segments, won’t deter the Federal Reserve from raising interest rates on Wednesday. But the turmoil complicates the central bank’s communications challenge, particularly the need to wrap the hike in heavily conditional and responsive packaging. Read more…

The Bank of Mom and Dad

The Bank of Mom and Dad is helping buoy up the Toronto housing market…. ‘Gift letters’ have become a common form of currency as young buyers struggle to save down payments.  Helping out the kids with a home purchase is not new. But the amounts being signed over have reached staggering heights in the GTA, […]

Housing is NOT facing a bubble… Poloz

Stephen Poloz questioned about sudden rate cut, assessment of economy OTTAWA— The governor of the Bank of Canada says he didn’t mean to surprise markets in recent months with his interest-rate cut, worrying real estate projection and the grim adjective he chose to describe the country’s economic performance. During testimony Tuesday before a parliamentary committee, […]