Canadian home sales jump 26% as buyer sentiment improves, while rents hit a 15-month low. New mortgage rules aim to boost affordability, and a $113M fraud case highlights offshore money in Vancouver real estate.
Canada's economy struggles with a productivity decline, while purpose-built rentals reach record highs. Plus, Calgary plans to regulate short-term rentals, and Toronto faces challenges with condo sales
The Trudeau government aims to build 3.8M new homes by 2031, which is 2M more than the Canadian Housing and Mortgage Corporation (CMHC) initially expected.
Wiretaps from 2019 show alleged mafia boss Angelo Figliomen discussing a $30-million real estate deal.
Canada needs over 3.5 million new homes to meet the housing demand.
Donald Trump's re-election has raised concerns in Canada about the impact on the economy, real estate, and trade.
Toronto and Vancouver see major sales surges as buyers return, fueled by recent rate cuts
The Real Estate Rollercoaster Continues
Toronto and Vancouver, previously the hottest markets, now have the weakest demand
The Bank of Canada is expected to cut interest rates by 2-2.5 percentage points over the next year, but fixed mortgage rates may only fall to around 3.5-4%.
new loan program for landlords to boost rental income, plus today's U.S. inflation report came in hotter than expected.
According to the UBS Global Real Estate Bubble Index, Toronto ranks fifth in the world in terms of the risks of a real estate bubble.
