RBC report shows the proportion of pre-tax household income that would be required to buy a home across the country
A new report by RBC Economics shows that Calgary and Edmonton are the most affordable housing markets of major centres in the country. The bank’s Housing Trends and Affordability report indicates that the two Alberta cities have the lowest percentage share of income a household would need to cover homeownership costs. The RBC Housing Affordability…
Robert McLister, managing editor of Rates.ca, talks about the pitfalls of the government program and why fewer Canadians are likely to take part than anticipated
Robert McLister is managing editor at Rates.ca. What is Rates.ca? McLister: Rates.ca compares insurance, mortgages and credit cards from dozens of companies across Canada. By juxtaposing numerous providers, it's easier for consumers to quickly compare terms and find the best prices. How does the new down payment assistance program for first-time homebuyers work? McLister: The…
Vacancy rates below 10-year average, rents on the rise: CBRE
Canada’s multifamily housing market is the most robust it has ever been, , according to CBRE’s new Canadian Multifamily Mid-Year Update. Apartment buildings are practically full from coast to coast and rental rates are at or near 10-year highs in almost every market, according to CBRE. The commercial real estate firm’s report said the national…
Ryan Mracek of Keylo wants the online realtor referral service to be the place consumers go to get unbiased, data-based real estate advice
Ryan Mracek is owner of Keylo. What is Keylo and what does it do? Mracek: Keylo is Canada’s largest realtor referral service. We use an evidence-based approach to find the best realtor to buy or sell your home for free. We put the odds of success in your favour in an industry notorious for holding…
Andie Daggett of Urban Analytics provides a precise snapshot of Calgary's rental market vacancies and rates, and offers a market forecast
Andie Daggett is manager of rental market data (Alberta) for Urban Analytics. What is Urban Analytics and what do you do? Daggett: Urban Analytics is a real estate based market research and advisory firm. We track all of the new multi-family home and purpose-built rental projects in Vancouver, Calgary and Edmonton. Half of our business…
Overall consumer credit balances continued to grow in the second quarter – up to $1.88 trillion
Cash-strapped Canadians may be treating their homes like ATMS to pay off their bills, says a study by MNP Ltd. In a news release on Tuesday, the largest insolvency firm in Canada said three in 10 Canadian homeowners with a home equity line of credit (HELOC) say they have used the funds borrowed to pay…
But Scotiabank report says total borrowing by individuals rose by 3.7% month over month
Canadian household credit growth decelerated in June as the slowing pace of mortgage expansion more than offset an acceleration in consumer credit, according to a new report by Scotiabank Economics. Home equity line of credit loans (HELOCs) remained flat in June, remaining on a weaker trajectory following strong increases through 2017 and 2018, it said.…
City could be classified as a sellers’ market in July, along with half of the nearby municipalities: Zoocasa
After several years of quieter real estate demand and activity, it appears Calgary and surrounding regional markets are in store for an uptick, says a report released on Wednesday by real estate technology firm Zoocasa. A hotter pace is already noticeable in the Calgary real estate market, said the report. “According to new analysis by…
Kitchen stoves could soon be following the sewing machine as unnecessary household appliances
For many of us, the kitchen has always been a sacred place in our homes, often referred to as the heart of the home. But kitchens seem to be losing their lustre. An increasing number of condos and apartments are being sold and rented without a stove. In pricey Yorkville, one of Toronto’s most expensive…
The risk of housing price declines piles onto the risk CMHC already takes on when insuring mortgages
Canada’s federal government will soon participate in the property bubble in a direct, equity-owning way through its new First-Time Home Buyer Incentive. But the merits of the program are questionable. Since the end of the Second World War, it’s been federal government policy to help low-income would-be home buyers via Canada Mortgage and Housing Corp.…
A new report by RBC Economics shows that Calgary and Edmonton are the most affordable housing markets of major centres in the country. The bank’s Housing Trends and Affordability report indicates that the two Alberta cities have the lowest percentage share of income a household would need to cover homeownership costs. The RBC Housing Affordability…
