Tuesday, 14 July, 2020

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Category: Better Dwelling – Canada

Category Added in a WPeMatico Campaign


Millions of Canadians are still on the government’s emergency income benefit. Government of Canada (GoC) data shows a small drop in users of the Canada Emergency Response Benefit (CERB) by July 5th. Though there was a drop, about one in five Canadians are still using the benefit. Here’s how these numbers break down per province. CERB Benefit Users Drop Slightly Read more…


Canadians know real estate prices have grown very quickly, but most likely have no idea how fast. US Federal Reserve data shows when US home prices took a dive during the Great Recession, Canadian prices didn’t. Instead, Canada has flooded the market with a number of policies designed to increase the amount of debt households can carry. Consequently, Canadian home Read more…


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Housing Agency Warned First-Time Buyers. Now They’re Getting SlaughteredCondo buyers were warned not to make the smallest downpayment possible, but some did anyway. Now they’re facing the potential of negative equity. In Toronto, buyers of a benchmark condo in May would have lost 31.93% of Read more…


Canada’s first-time buyers may be in for some volatility, and they don’t even know it yet. Earlier this year, the Canada Mortgage and Housing Corporation (CMHC) warned first-time buyers that leaving just a 5% downpayment could be problematic. If the market had a sudden sharp turn, they could suddenly see their downpayment wiped out in a matter of weeks. This Read more…


Canadian cities are starting fewer new home building projects during the pandemic. Canada Mortgage and Housing Corporation (CMHC) data shows urban housing starts fell in Q2 2020. Despite a general slowdown, Toronto continued to push to a multi-year high for new projects started. Canadian Urban Housing Starts Fall Canada’s urban housing starts fell, as housing activity slowed across the country. Read more…


Canadian business sentiment is still dropping, despite a partial re-opening of the economy. Bank of Canada (BoC) released its Business Outlook Survey for Q2 2020. Business sentiment has dropped to the lowest level since the Great Recession. A drop this steep usually leads a recession, and doesn’t mark the bottom – as firms try to reel in risk. About The Read more…


Greater Vancouver real estate sales are returning to pre-pandemic levels, but it’s not quite the same. Real Estate Board of Greater Vancouver (REBGV) data shows June sales are almost at last year’s levels. Despite the increase, new listings are hitting the market at such a rapid pace, prices are actually falling further from the peak. Greater Vancouver Real Estate Prices Read more…


Toronto real estate sales are almost back to last year’s levels, but that isn’t helping prices. Toronto Regional Real Estate Board (TRREB) data shows June sales volumes were down just a few points from last year. The increase in sales wasn’t enough to stop prices from slipping lower though. This is the second consecutive month prices have slipped since the Read more…


Canadian households cooled on borrowing, but mostly just in one segment. Bank of Canada (BoC) data shows household debt stalled in May, after peaking in March. On the breakdown, mortgage debt is seeing growth boom as hundreds of thousands of Canadians stop making payments. Consumer credit on the other hand, made the first contraction since the 1980s. Canadian Household Debt Read more…


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Mortgage Debt Explodes In Growth, As Payment Deferrals Hit Over 743,000Canadian mortgage debt is seeing growth accelerate, as hundreds of thousands stop making payments. The balance of mortgage debt reached $1.68 trillion in May, up 6.0% from a year before. This is the highest rate Read more…


Canadian households began to sock away a little extra cash before the pandemic. Statistics Canada (Stat Can) data shows the household savings rate reached a 20 year high in Q1 2020. The rate had been growing steadily since 2018, as households diverted their spending to savings. Here’s what it means. Household Savings Rate The household savings rate is the rate Read more…


Canadian seniors briefly slowed down home equity borrowing last year, but it’s picking up again. Regulatory filings with the Office of the Superintendent of Financial Institutions (OSFI) show the balance of reverse mortgage debt reached a new record high in April. Growth has slowed down from all-time highs, but the balance of reverse mortgage debt is seeing growth trend higher Read more…


Canadians have suddenly stopped borrowing their home equity, and are lowering exposure. At least a little, when it comes to personal loans. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate fell in April. The dip was one of the largest single-month drops over the past eight years of data. Read more…


Canadian mortgage debt is growing at a rapid pace, but it’s not exactly a healthy trend. Bank of Canada (BoC) shows mortgage credit hit a new record high in May. The high was hit with accelerated growth, but this isn’t the bullish trend it normally is. Hundreds of thousands of mortgages had their payments deferred, helping debt growth. Canadians Owe Read more…


Time for your cheatsheet on this week’s most important stories. Canadian Real Estate Canada’s National Housing Agency Forecasts Price Drops In Toronto And VancouverCanada’s national housing agency sees prices potentially falling in major markets. Toronto, Vancouver, and Montreal are all forecasted to be lower than they were last month. Some markets like Vancouver aren’t expected to see higher prices, even Read more…