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This Week’s Top Stories: Canadian Real Estate Development Is Booming, While Consumer Credit Tanks

Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Household Credit Slows, As Consumer Credit Growth Plunges Lower Canadian household debt is still rising, but experienced a bit of a hiccup in the latest numbers. The balance of outstanding household debt reached $2.26 trillion in November, up 3.9% from […]

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Canadian Household Credit Slows, As Consumer Credit Growth Plunges Lower

Canadians are still borrowing a lot, just not for anything other than mortgages. Bank of Canada (BoC) data shows household debt held by institutions reached a new all-time high in November. All of the monthly increase was due to mortgages however, as consumer credit fell. Canadian Households Have Over $2.2 Trillion In Mortgage Debt Canadian […]

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Vancouver Rental Vacancies Climb To The Highest Level Since 2013

Vancouver’s population growth is still booming, but the rental vacancy rate is climbing. Canada Mortgage and Housing Corporation (CMHC) data shows primary rentals saw vacancies increase in 2019. The rate of vacancy is now at the highest level since 2013, but it has a long way to go to clear that number. Vancouver Rental Vacancies […]

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Toronto Rental Vacancy Rises To The Highest Level Since 2015, Despite Population Boom

Toronto’s population growth is booming, but so are rental vacancies. Canada Mortgage and Housing Corporation (CMHC) data shows primary rental vacancies climbed in 2019. The rate is now at the highest level since 2015, as vacancies climb from decade lows just a couple years ago. Toronto’s Vacancy Rate Rises To Highest Level Since 2015 Toronto’s […]

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New Listings Fall to 10 year Low Across Canada

The national housing market continued to elicit signs of a recovery with actual sales up 22.7% from a disastrous 2018. Sales continue to hover above the ten year averages. This pushed the home price index higher once again, up 3.5% from last year and clearly trending higher. However, what’s more important is to understand the […]

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Canadian Real Estate Numbers Soar As BC Sales Surge… Kind Of

Canadian real estate buyers were out in full force last month. Canadian Real Estate Association (CREA) data shows sales made a substantial jump higher in December. Most of the increase is due to Vancouver real estate’s return to normal volumes. However, almost every major market across Canada is seeing sale volumes climb substantially. Canadian Real […]

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Canada Has Never Had This Much Housing Under Construction At The Same Time

Canada’s recent real estate price boom is creating a lot of incentive for development. Canada Mortgage and Housing Corporation (CMHC) data show housing under construction jumped in Q4 2019. The number of homes currently being built across Canada is now at the highest level since… uh, ever. Canada Has Never Build This Much Housing At […]

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Death of the Single Family House in Metro Vancouver?

Just a few days ago I wrote a piece noting that Vancouver housing starts hit a record high in 2019. Per CMHC, there was a whopping 28,141 new housing starts across Metro Vancouver, surpassing the previous record set in 2016. In fact, housing starts could’ve been much higher had it not been for single family […]

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Canadian Mortgage Debt Growth Accelerates, But Throws A Sign It May Be Losing Steam

Canadian households are back to binge borrowing, and it is sending debt soaring. Bank of Canada (BoC) data shows mortgage debt at institutional lenders reached a new high in November. Not at all surprising, but the acceleration of annual growth is – which is now at the highest level in over a year. Although there’s […]

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“Normal”

What if negative interest rates weren’t such an unconscionable idea after all? A new report from Yale professor Paul Schmelzing went back in time and studied real interest rates in developed markets over the past 600 years. His findings, were rather remarkable. Dating back to the 1300’s (don’t ask how he got that data), there is a clear […]

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