Buoyed by red-hot markets in Vancouver and Toronto, the country’s overall housing market may appear to be on fire but in reality real estate is slumping in Quebec City, Halifax, Calgary and Edmonton, where houses prices are down. “The reason is their economies are incredibly flat and you will see housing really start to […]
Toronto Seller Posts
Toronto market is in a bubble, an expanding bubble, and it is likely to end in tears
The Canadian and Toronto housing market just keeps getting hotter. Home prices in the Greater Vancouver area have surged 30% year over year in May, up from 15% at the end of 2015, according to the bank’s June 2016 Financial System Review. Meanwhile, prices in the Greater Toronto area are growing by 15% YoY, […]
Bank of Canada may not cool hot Toronto housing market – BMO says
Scorching prices in Canada’s top housing markets are unlikely to see declines because the major drivers are beyond the reach of traditional monetary policy, according to Bank of Montreal’s top economists. “Monetary policy can’t do anything about the inferno,” according to the draft of a report led by Douglas Porter, the bank’s chief economist. […]
Hot Toronto housing market got even hotter in May, 2016
TORONTO — The Toronto area’s real estate market set a new record in May, 2016, with nearly 13,000 homes sold. That’s up 10.6 per cent from May 2015 in what was already one of Canada’s hottest real-estate markets. The Toronto Real Estate Board says there’s a shortage of listings for low-rise types of housing, […]
Banks voice concerns over housing, Finance Ministry ‘prepared to take further action’
Pressure is growing on Ottawa to take action on housing prices as banking executives are joining economists and global think-tanks in sounding the alarm about the runaway markets in Toronto and Vancouver. The latest call for action came from National Bank of Canada chief executive Louis Vachon, who told Bloomberg on Wednesday that Canada […]