seekingalpha.com For the past three years the Canadian Finance Minister, Jim Flaherty, and the Governor of the Bank of Canada, Mark Carney, have preached caution to Canadian households on the risks of excessive debt accumulation. Neither have gone so far as to declare an asset valuation “bubble” within the Canadian real estate market. However, both […]
Canadian housing looks to be in soft landing, but actually heading for 25% crash: Capital Economics
John Shmuel business.financialpost.com A day after RBC put out a report saying that Toronto’s condo market is not in a bubble, Capital Economics has come out with its own report saying that Canadian housing, including Toronto, is most certainly in a bubble. David Madani, economist with Capital Economics, said on Wednesday that Canada’s housing market […]
Canadian Real Estate Bubble: S&P Cuts Outlook On 7 Banks On High Home Prices, Consumer Debt
Standard & Poor’s Ratings Services has revised its outlook from stable to negative on seven Canadian banks over concerns about unsustainably high home prices and consumer debt levels. The New York debt-rating firm revised its outlook downward on Royal Bank of Canada (TSX:RY), Toronto-Dominion Bank (TSX:TD), Bank of Nova Scotia (TSX:BNS), National Bank of Canada […]
Canada plans no new steps to cool housing market
Edwin Chan ca.reuters.com Finance Minister: Image Source Canada does not expect to have to tighten mortgage rules further as the real estate market has softened in the wake of government measures to cool it down, Finance Minister Jim Flaherty said in an interview on Wednesday. Home prices hit a third straight record high in June, […]
The CMHC and the Canadian housing bubble
A nightmare on Main St: The numbers are becoming increasingly clear; the bloom is off of the Canadian real estate bubble and boom. Among a variety of indicators, sales of condos in the second quarter of this year in Toronto have fallen by half and a record number of units were left unsold. In […]
Canada’s housing market cools
TARA PERKINS The Globe and Mail Canada’s housing market is cooling rapidly in the wake of government changes to mortgage insurance rules, amid suggestions that many potential first-time buyers are opting to remain tenants. Indeed, the changes made by Finance Minister Jim Flaherty in July appear to be having more of an impact than his earlier […]