Why Canada’s Housing Market Didn’t Burst
February 27, 2010 by Dave, Cindy and Amanda Walker · Leave a Comment
Tuesday, 16 February 2010 Housing markets in the United States and Canada are similar in many respects, but each has fared quite differently since the onset of the financial crisis.Unlike the U.S., Canada has not experienced a dramatic increase in mortgage defaults, nor has any Canadian bank required a government bailout. As a result, observers [...]
China’s Building Bubble About to Burst
February 22, 2010 by Dave, Cindy and Amanda Walker · Leave a Comment
China’s building bubble about to burst By David Olive Business Columnist Toronto Star Frenzied developers with access to cheap money are creating a glut of premium office space and luxury apartments, priced at about 80 times the average income of the city’s residents. Prospective middle-class homeowners, in panic-buying mode, are snapping up two properties at [...]
Canada to oppose global bank tax
February 19, 2010 by Dave, Cindy and Amanda Walker · Leave a Comment
Paul Vieira, Financial Post OTTAWA — Canada will officially oppose international efforts to get the world’s major economies to impose a global bank tax, government sources tell the Financial Post. This could potentially ignite a major divide among Group of 20 leaders at their summit meeting in Toronto this summer, and further thwart efforts to [...]
Housing Market Will Cool Down
February 18, 2010 by Dave, Cindy and Amanda Walker · Leave a Comment
Housing market will cool down, real estate industry says The Canadian Press OTTAWA — House price increases will moderate as the resale market becomes more balanced, says the president of the Canadian Real Estate Association. “The resale housing market is becoming more balanced in a number of provinces,” Dale Ripplinger said Wednesday after the association [...]
New Mortgage Rules
February 16, 2010 by Dave, Cindy and Amanda Walker · Leave a Comment
New Rules to Come into Force April 19th, 2010 Federal Finance Minister Jim Flaherty announced changes to mortgage insurance rules this morning, which are set to come into force on April 19th, 2010. This means the government will adjust the rules for government-backed insured mortgages as follows: Require that all borrowers meet the standards for [...]
Proposals Would Shake Pillars of Real Estate
February 12, 2010 by Dave, Cindy and Amanda Walker · Leave a Comment
Garry Marr And Theresa Tedesco, Financial Post The Canadian Real Estate Association has proposed an overhaul of its rules in the wake of allegations by the federal competition watchdog that some of CREA’s practices are anti-competitive, according to internal documents obtained by the Financial Post. The documents show the proposed amendments, which will be voted [...]
Bubble What Bubble – February 10, 2010
February 11, 2010 by Dave, Cindy and Amanda Walker · Leave a Comment
Since last October, home resale numbers have almost doubled, up 41.5 per cent and setting new records in Toronto, Ottawa and Montreal, all according to figures from the Canadian Real Estate Association (CREA). It’s stats like these that prompted economists from Scotia Capital, Derek Holt and Karen Cordes, to publish a report aptly titled, “Is [...]
Tighter Mortgage Rules
February 11, 2010 by Dave, Cindy and Amanda Walker · Leave a Comment
ING president speaks out against tighter mortgage rules | Tuesday, 9 February 2010 After providing several comments on the potential housing bubble in Canada, ING Direct Canada president Peter Aceto told the Globe and Mail that Ottawa shouldn’t tighten mortgage rules. “High level, one-stroke fixes are too simple, and can have a very large impact,” [...]
CREA Forecasts Record Home Market
February 9, 2010 by Dave, Cindy and Amanda Walker · Leave a Comment
CREA forecasts record home market this year Garry Marr, Financial Post Canadian real estate sales and prices are poised to set records this year, according to a new forecast that is bound to reignite calls in some quarters for tighter lending rules. The Canadian Real Estate Association, which represents 100 boards across the country, said [...]
