The Bank of Canada should raise interest rates now because five years of low rates are creating distortions in the economy, such as excessive debt and an overheated housing market, a former advisor to central bank Governor Mark Carney said on Wednesday. ‘We do not believe there is a bubble’: Canada’s largest non-bank mortgage lender […]
2013-2014 Canadian Housing Market Outlook
TD starts the week off when a 20+ page report on the Canadian housing market. They have revised their over-valuation of Canadian real estate to 8% -down from 10%- due to rising personal income and weaker price growth. However, the outlook varies greatly from city to city. Below is a quick recap starting with our city: Calgary: TD […]
Royal Bank hikes mortgage rates & non-mortgage debt shows biggest quarterly decline
Did you know, even a house is so charred like this one, the roof caved in over the porch […] A strong wind could knock this place down … Still worth a million dollars house in Canada? Royal Bank nudges mortgage rates higher: 5-year rate hiked to 3.29% Canada’s largest lender has raised its residential […]
Predictions for Real Estate Prices: Boom or Bust?
Recently, on Alberta Primetime’s Money Panel, I was asked to comment on real estate prices and some conflicting predictions about whether real estate will boom or bust. Not a day goes by these days without someone predicting what is going to happen to housing prices. I was in a restaurant and the server was talking to […]
New Roadmap Is Valuable For Homebuyers
PRESIDENT’S TORONTO SUN COLUMN TREB President’s Column as it appears every Friday in the Toronto Sun’s Resale Homes and Condos section. New Roadmap Is Valuable For Homebuyers March 8, 2013 — Perhaps you are feeling insecure about your knowledge of the financial implications of homeownership. Homes are a major asset, and for most Canadians, represent the […]
As housing market slows, industry scrambles to paint positive picture
Garry Marr financialpost.com Organized real estate is unable, it seems, to admit the glory days may be behind it. Sales plummet in major markets and the industry comes up with a new explanation for the decline, draping its comments with a sense that everything is just fine. The excuses are piling up. This month’s gem […]