Real Estate Roundup Global News reported Canada is a celebrity when it come to debts, not only houldhold debts, but also commercial debts that is heavily skewed toward real estate. While the real estate is entering a tumultous era, Vancouver shows off her most expensive listing ever – $63 millions Belmont Estate, a 21,977 sf home […]
Canada Real Estate Is Still Very Rosy
Canadians richer than ever, and cutting back on mortgage debt Debt growth eases Canadians are getting the message on their ugly debt levels, at the same time as their wealth increases. Mortgage debt growth slowed: Statistics Canada Mortgage debt in Canada rose just 0.6 per cent in the first quarter of the year, to $1.1-trillion, […]
Canadians are owing a lot of money – Ratio hits record high of 163.7%
Personal debt ratio hits record high of 163.7% The amount that Canadians owe compared to their disposable income rose to an all-time record last quarter, although their net worth also increased. Statistics Canada reported Friday that the level of household credit market debt to disposable income increased to 163.7 per cent in the third quarter from […]
Record Levels Debt: Consumers are biting off more than they can chew
Low-rate pledge revives fears of hard reckoning for Canada’s housing market The Bank of Canada’s surprising signal last week that it will not raise interest rates any time soon will lift the housing market and give indebted households breathing room, but it leaves many apprehensive there will be a hard reckoning. Canada sidestepped the worst of […]
Canadian homeowners carried nearly $1.2 trillion in mortgage debt last year
The high cost of home ownership In Metro Vancouver, home ownership absorbs 87 per cent of median household income, a Royal Bank report says. Ever wonder about the size of your neighbour’s mortgage? It’s a taboo topic, of course; people are pretty private about their debts. But the Canadian Federation of Municipalities is willing to […]
Stephen Harper: “I Know You’re Bankrupting The Nation, But What Can I Do” ?
Stephen Harper told mounting mortgage debt is putting ‘our national economy at risk’ Canada’s cities say that mounting mortgage debt held by cash-strapped Canadians is putting “our national economy at risk,” and they have urged Prime Minister Stephen Harper, in a letter, to use his government’s upcoming throne speech to set the stage for an […]