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This Week’s Top Stories: Toronto and Vancouver Place Huge Price Premiums on Condos, While Sales Drop In Both Cities

Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Toronto And Vancouver Are Placing Absurd Price Premiums On Condos Toronto and Vancouver property assessments place a huge premium on condo apartments. Toronto apartments have a median assessment value of $457 per square foot (PSF) in 2018, 32% higher than […]

The post This Week’s Top Stories: Toronto and Vancouver Place Huge Price Premiums on Condos, While Sales Drop In Both Cities appeared first on Better Dwelling.

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Toronto and Vancouver Are Placing Absurd Price Premiums On Condos

Toronto and Vancouver homeowners are condo crazy, and it shows in assessment values. Statistics Canada (StatCan) numbers show median assessment values for condos were at a huge premium in 2018. The gap between assessments for a condo apartment is as much as double in Toronto. Vancouver, the country’s most expensive city, isn’t seeing nearly as […]

The post Toronto and Vancouver Are Placing Absurd Price Premiums On Condos appeared first on Better Dwelling.

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Vancouver Condo Sales Have Slowest April in 18 Years

Following their detached counterpart, condo sales were historically weak in April. Sales fell 30% from last year, and hit their lowest total for the month since April 2001. Indeed the 18 year low comes as buyers shift to the sidelines and wait for sellers to lower their prices, particularly given the significant declines in the […]

The post Vancouver Condo Sales Have Slowest April in 18 Years appeared first on Steve Saretsky.

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Canada’s Money Supply Growth Is Slowing, and That’s Bad For Economic Activity

Near record low interest rates may still be too high for highly indebted Canadian households. Bank of Canada (BoC) numbers show the growth of the M1+ money supply fell to a multi-year low in March. The decline of this measure is typically indicative of slowing future economic activity. The M1+ The M1+ is a narrow […]

The post Canada’s Money Supply Growth Is Slowing, and That’s Bad For Economic Activity appeared first on Better Dwelling.

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Canadian Household Credit Sees Slowest March Growth Since 1983

Canadian households hit a new all-time high for debt, but the level of growth is slowing. Bank of Canada (BoC) numbers show the balance of household debt reached a new high in March. Despite breaking a new record, Canada’s credit growth is at recession low levels of growth. This can present a major kink in […]

The post Canadian Household Credit Sees Slowest March Growth Since 1983 appeared first on Better Dwelling.

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New Condo Sales In Vancouver Drop, But Buyer Incentives and Realtor Bonuses Rise

Greater Vancouver condo presale buyers still aren’t interested, even with more incentives. Numbers from MLA Canada, a real estate analytics and marketing firm, show Greater Vancouver condo presales fell in March. An accompanying decline in inventory helped to offset the drop in sales. However, it wasn’t quite enough to change the current trend. Sales of […]

The post New Condo Sales In Vancouver Drop, But Buyer Incentives and Realtor Bonuses Rise appeared first on Better Dwelling.

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Toronto New Condo Sales Plummet, While Suburban Detached Homes Sales Rise

Greater Toronto new home sales climbed last month. Numbers from Altus Group show new home sales increased in March, attributed entirely to a rise in the 905. Don’t get too excited though. The only reason new home sales increased, was because the bar was set so low last year. Last month was still the second […]

The post Toronto New Condo Sales Plummet, While Suburban Detached Homes Sales Rise appeared first on Better Dwelling.

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Residential Mortgage Credit Growth Remains Sluggish in March

Amidst a continued slowdown across the national housing market, which includes national home sales dropping to a decade low in March, Bank of Canada Governor Poloz suggested, “We’ve gone from boom to bust, of course, with lots of new policies put in place.” Ironically the Bank has recently engaged in the purchasing of Canada Mortgage […]

The post Residential Mortgage Credit Growth Remains Sluggish in March appeared first on Steve Saretsky.

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Canadian Mortgage Debt Prints Slowest Growth For The Month Since 1983

Canadian mortgage debt printed a record high, but is still growing much slower than usual. Bank of Canada (BoC) numbers show the balance of mortgage debt printed a record high in March. The record debt came with the slowest pace of growth for March since 1983. Canadian Mortgage Debt Now Over $1.55 Trillion The balance […]

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This Week’s Top Stores: How Money Laundering Sends Real Estate Prices Soaring, and Canadian Buyer Exuberance Crashes

Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate How A Little Money Laundering Can Have A Big Impact On Real Estate There’s no way there’s enough money laundering in Canadian real estate to affect prices, right? We take a dive through how asset prices are born, and how […]

The post This Week’s Top Stores: How Money Laundering Sends Real Estate Prices Soaring, and Canadian Buyer Exuberance Crashes appeared first on Better Dwelling.

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