Vancouver is on pace to lose its status as Canada’s second largest housing market to Montreal. While still Canada’s most expensive city for housing, a recent collapse in sales has led the value of real estate transactions substantially lower. That leaves Montreal’s soaring market poised to overtake the Pacific coast city’s. In January, the total dollar value […]
When it comes to overpriced real estate, Vancouver’s “bubble risk” is unmatched on the planet, according to a report by Swiss bank UBS. The rise in Vancouver’s average housing prices compared with the growth in average wages, rents and other economic factors make it the most likely to experience a sudden downward correction compared with 17 other large cities […]
Young Canadian homeowners are in for some tough times if the housing market comes crashing down around them, a new study suggests, but realtors and economists say there’s no reason to panic. A report released last week by the Canadian Centre for Policy Alternatives suggests that one in 10 homeowners under 40 will be underwater on their mortgages — meaning their debts will […]
Real estate buyers in Toronto appear to be treading more cautiously into the fall market – especially compared with the excessive bidding that took place in the city last spring. Chander Chaddah, a real estate agent with Sutton Group-Associates Brokerage Inc., listed two houses recently; one sold on offer night and the other didn’t. The […]
The International Monetary Fund is raising red flags about Canada’s housing market, warning that moves by Ottawa in recent years to tighten mortgage lending standards and boost oversight of the country’s financial system haven’t gone far enough. Household debt levels remain well above those in other Western countries, the organization said in a commentary posted […]
Toronto’s housing market broke through an important financial threshold in February as the average price of detached homes topped $1-million for the first time. Realtors say that despite a deep freeze in the city last month, the all-important spring market has come early this year as buyers rush to do battle over the scant supply […]
