The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2014 and 2015.
The Canada Mortgage and Housing Corp. is looking at a new formula to push some of its losses on to financial institutions, essentially forcing them to pay a deductible on mortgages insured with the Crown corporation before claims are paid, according to sources.
Canadian building permits jumped to a surprise record in July, led by Toronto and Vancouver condominiums and apartments, at a time when the central bank says high home prices and indebted consumers remain a key risk to the economy.
While, on average, Canadian house prices have climbed five per cent in 2014, a new report from CIBC World Markets finds that price increases in mid- and high-priced homes are far outpacing those of lower-priced ones, which is making it increasingly more difficult for many Canadians to move up out of their starter homes.
Is Canada’s real estate market a bubble? A number of groups are sounding the alarm. Over the past few months, several research organizations, including Fitch, Morningstar, Inc., and the International Monetary Fund have published reports warning about skyrocketing property valuations across the country.
Canadian housing starts bucked forecasts and rose in July, data on Monday showed, but analysts said the recent resumption of the housing market's upward drive is likely to falter if mortgage rates rise as expected heading into 2015.
Most economists and the central bank have predicted that rising prices and near-record debt loads would curb demand for housing. Instead, home resales, prices and starts have climbed after a tough winter
Scott Baker has a rarefied view of Toronto's real estate market. "We tend to look at it from 40,000 feet."
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