You say there is housing bubble, a housing crash is imminent. They say Canada is different, they is no real estate crisis whatsoever, or even if there is a downturn, one like the U.S. simply won’t happen in the Great White North. Not a chance … Because Canadian financial institutions are simply too big, so strong, and so prudent that they can easily weather any downturn like a child play.
Well, I don’t know what else to say? Guess I read too much …
“The massive surge in risky debt being taken on by Canadian households illustrates that the housing bubble can’t be blamed on cash purchases by foreign investors,” said economist Paul Ashworth in a report titled, “House Price Gains Fuelled by …
The latest study from independent research body Capital Economics stated that the factor that is most to blame for Canada’s housing bubble is not foreign money but household debt, which has ballooned to dizzying heights in the past few years.
This may not seem that influential, but it could roil trade relations at a time when Canada is facing massive energy-sector layoffs and a possible housing bubble. Earlier this week, Chrystia Freeland, Canada’s trade minister, told CBC that there wasn’t …
Anyway, in every action, there is always a reaction …
Any additional tightening of mortgage rules to prevent a potential housing bubble in Canada’s red hot housing market could hurt the economy, says a new report by Mortgage Professionals Canada. With Canada’s resource sector in deep slump because of …
By Corruption Victim of City of Toronto It was comforting to hear the assuring statement by Toronto Fire Chief Matthew Pegg: – Officials say London inferno won’t happen in Toronto : Strict building codes and inspections should prevent similar infernos “Here in Ontario we are fortunate to have the comprehensive fire protection and fire safety measures that are contained in the building code ,” He further explains residential building in the province must be constructed with non-combustible construction (in accordance with the Ontario Building Code ) ie. be built out of materials that don’t burn. Of particular interest here is the fact that the Fire Chief himself confirmed Fire Code refers to Building Code to determine building safety . In another word, building that contravened the building Code in fire safety also violated the Fire Code (under the Fire Protection and Prevention Act, 1997). Unfortunately, an inquiry with Toronto Fire Prevention revealed the responsible...
Jonathan Manthorpe believes there is a direct line linking the explosive real estate bubbles in Toronto and Vancouver and how secure Chinese President Xi Jinping looks on his throne. How China’s Politics Messing Up Canadian Real Estate Markets The evidence — the vast amount of money being spirited out of China by relatives, friends and cronies of the Red Aristocracy around Xi — suggests he’s set to tumble . Last year about $US1 trillion was spirited out of China by Communist Party leaders and their hangers-on, in defiance of currency regulations. Image Source They clearly do not feel the regime is secure and want their assets hidden away in stable overseas havens like Canada, the United States, Australia or Europe. Sounds like it’s not “London Bridge is falling down”, its “The Great Wall is tumbling down”?
If the followings are anything to go by, then homes and buildings in Toronto are a disaster waiting to happen … Toronto’s glass condos are burning thermal holes in the sky Greenhouse-gas-leaking towers setting us up for climate change fail According to City’s TransformTO plan , we’ll all be living near accessible fossil-fuel-free transit, tossing our waste into tiny garbage bins and getting 75 per cent of our energy from renewable sources, and all our homes, condos and apartments will be retrofitted to become lean, clean greenhouse-gas–saving machines. But in a city where half our greenhouse gas emissions now come from leaky buildings , the glass condo boom may be setting us up for failure. Here is the glaring reality: many glass towers and other hastily built condos are falling apart faster than the old concrete giants – springing leaks, facing high repair bills and prompting lawsuits. They’re also greenhouse-gas-emitting giant thermal holes . Anyone living in ...
A rundown old house with a hodge podge of apartments in Roncesvalles Village drew crowds last week when it was listed with an asking price of $769,000. The property at 52 Harvard Ave. drew five competing bids and sold for $913,000. The owner purchased the house in 1988 for $135,000, he says. “It’s gone from pandemonium to just a heavy frenzy,” he says. Read more http://www.theglobeandmail.com/ Don’t not wish to join the Bull Run ? Sorry, you ain’t got no choice, because it takes … $430,000 to live in a former glue factory in the Junction Triangle Address: 371 Wallace Avenue , Suite 22 Neighbourhood: Dovercourt-Wallace-Emerson-Junction Price: $434,900 The Place: A one-bedroom unit in Wallace Station Hard Lofts, a former glue factory that takes its name from a now-defunct railway station.
Government’s foreign buyer numbers way off according to Asian real estate conference Asia Real Estate Association of America, Vancouver chapter representatives say the government’s data sample is too low to be accurate. Agents, experts say Chinese buyers account for much more than 3% of B.C. homebuyers China Cash Power A provincial government statement that only 3 per cent of B.C. residential sales are made to foreign buyers and that Chinese nationals represent just 2.5 per cent of Metro Vancouver home buyers drew rolling eyeballs and laughter at the packed July 7 Asia Real Estate Association of America (AREAA) conference in downtown Vancouver.
TD Bank, IMF say Canadian real estate 10% overvalued CBC.ca The International Monetary Fund agrees, estimating Canada’s real estate is 10 per cent too expensive, according to an assessment of the Canadian economy released today. Affordability is falling as prices rise, but TD expects price hikes to slow Many experts and economists, from the OECD to the IMF, agree the Canadian housing market is overvalued – the question is by how much. According to TD economist Diana Petramala, the figure is 10 per cent. The International Monetary Fund agrees, estimating Canada’s real estate is 10 per cent too expensive, according to an assessment of the Canadian economy released today. The truth is it’s either 90% overvalue or it’s still undervalue … It looks as if people think Canadian real estate is still a steal. That’s key … Demand, baby, it’s demand that matters, not what Joe can afford. So, what 10% ? Utter nonsense. Another nonsense … Toronto ...
Everyone has a crush for real estate these days … Even people traditionally has nothing to do with real estate, in fact, enemies of the brick and mortar business model – The Geeks: – Google and Facebook employees are flocking to a startup that’s … Image Source Tech Insider – Jun 23, 2016 But it wasn’t a traditional real estate transaction. … Square, Google and Facebook executives have gathered to shake up the real – estate world . eyyy Think you can’t afford to invest in real estate ? Think again
Inside Canada’s vibrant Rio Olympic House by Yabu Pushelberg by Lauren Ro For the first time ever, the Canada Olympic House , the Rio home base for Canadian Olympians and their friends and family, was designed by Canadians. Ontario natives George Yabu and Glenn Pushelberg, who are best known for their luxury hotel, residential, and commercial interiors like the Four Seasons Toronto and Park Hyatt New York, simply asked the Canadian Olympic Committee: “What can we do for Canadian athletes to showcase their country?” Yabu recalled. The deconstructed Canadian flag is made up of hundreds of hanging ribbons.
There is no Housing Bubble, you hear that loud and clear? Image Source CMHC sees no 1980s style housing bubble in Toronto high-rise condo market Financial Post – Jul 19, 2016 Canada Mortgage and Housing Corp. sees very limited speculation in the condominium industry in Toronto among builders, a situation unlike the 1980s when the market crashed. In a report out Tuesday, CMHC, the Crown corporation that guides Ottawa on … Canada Housing Agency Doesn’t See Bubble in Toronto Condo Market Bloomberg Risk of speculation in Toronto condos mitigated by presales: CMHC The Globe and Mail “1980s style housing bubble for Condo”? CMHC does have a good sense of humor, eh?
Story from http://www.theglobeandmail.com/ … Aggressive development: Inside the building and selling of a Toronto condo tower A man who makes a living helping the country’s largest bank avoid risks is preparing to double down on a market that many people believe is on the verge of a nasty fall. Babak Habibzadeh, a 29-year-old risk manager with Royal Bank of Canada, lives with his parents and bought his first condo two years ago. He rents it out and has been delighted with the returns to date. So today he’s buying another – a one-bedroom-plus-den, 601-square-foot unit on the 18th floor of a yet-to-be constructed building in Toronto called Core Condos that is scheduled to open in 2017. He’s not yet sure if he will rent it out or live in it, but says it will be a sound investment either way. “Are you excited?” the saleswoman asks him as he plows through a stack of paper in the sales office, outlining the $360,000-plus deal. “In three years I will be,” he says. Toronto’s condo boom ...
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