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"Toronto and any city that is remotely within commuting distance are overheating, and perhaps dangerously so."
Chris Wattie / Reuters
Instead of crashing in 2008, countries like Canada, Australia, New Zealand, and the U.K. decided we just needed more money. The result? Soaring real estate prices, stagnating incomes, mounting household debt and lowered economic output have sent four of the largest economies in the realm into a massive bubble.
Getting a first-time mortgage from a Canadian bank is like getting security clearance to work at NORAD. Income, credit history, source of down payment funds... are all key measurements to qualifying. These rules, of course, only apply to Canadians. Foreign buyers, some have speculated this week, may be receiving preferential treatment.
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"Their gamble is that it's better to look like you're doing something than to appear indifferent or tone deaf to the issue."
Don't go it alone? High housing prices are making young Canadians team up with friends to enter the market
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According to many North American economic analyses, we're not headed toward a bubble -- we're in one. But how is this bubble different from past bubbles and what will happen when it ultimately bursts?
This year promises to be particularly exciting for real estate investors. For the first time in many years, we may actually see the interest rates creep up from their historical lows. The head of the US Federal Reserve, Ms. Janet Yellen, indicated on numerous occasions that the rates would go up incrementally as their quantitative easing was coming to an end.
Say this for Hilliard MacBeth: the man has guts. While a number of analysts have expressed concern that Canada is in a housing bubble, the Edmonton-based portfolio manager at Richardson GMP is among t...
Ottawa may need to step in again to cool an overheated housing market that is showing no signs of slowing, according to a global credit rating agency. Fitch Ratings said Monday that Canadian home pri...
OTTAWA - Federal Finance Minister Jim Flaherty says he's prepared to clamp down on mortgage rules once again if Canada's housing market continues to heat up.The finance minister named consumer debt, w...
Canada's housing market is falling in the country's major cities and it could very well drag the economy down with it, a prominent housing analyst said on Thursday. Ben Rabidoux, an analyst and strate...
VANCOUVER - The Real Estate Board of Greater Vancouver says home sales fell sharply in December compared with a year ago.The board sales home sales were down 31.1 per cent in the last month of the yea...
TORONTO - One of the country's big banking groups has issued a report saying that a cooling in Canadian house prices may not be all bad news.The CIBC World Markets says the slowing of Canadian home sa...
I've always found the disparity of housing market articles fascinating. On any given week I will come across headlines varying from predictions about an imminent collapse to stories about how the market has never been better. Statistics can be manipulated in so many ways that realtors, journalists, economists, or whoever feels like it, can pretty much paint the market to look however it best suits them.