The Bank of Canada governor expressed confidence that regulatory changes were limiting home loans to those best able to finance them. It was the clearest statement yet that the central bank’s controversial decision to keep interest rates ultra-low won’t be altered over worries about a housing bubble or rising household debt levels. Unlike […]
central toronto real estate
More foreign buyers are investing in Canadian luxury homes
The Canadian real estate is an attractive market for foreign buyers these days. But for all of the attention and debate on the matter, we understand shockingly little about just how much of the market is foreign-owned and what affect that has, particularly on house prices. Royal LePage, Canada’s largest real estate company, tried […]
Canadian banks can withstand severe housing crisis, Moody’s says
Ratings agency Moody’s says that despite soaring home prices and household debt levels, Canadian banks could weather the effects of a severe housing downturn. In its latest report, published Monday, Moody’s says it conducted stress tests to determine the impact on major Canadian banks in the event of a 25-per-cent drop in home prices countrywide. […]
Toronto housing boom unsustainable, Bank of Canada says
Toronto homebuyers should not expect the frantic pace and blistering prices of the housing market to continue, warns the head of the Bank of Canada. “Prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction,” Stephen Poloz said Thursday with the release of the bank’s […]
High house prices making home ownership in Toronto and Vancouver unaffordable
Soaring home prices in Toronto and Vancouver are testing levels of affordability not seen since the early 1990s, when the country was in a recession and mortgage rates were north of 10 per cent. “In Toronto, we’re not as bad as 1990, but we’re not that far from it either,” said Robert Hogue, senior […]
