Time for your cheat sheet on this week’s top stories.
Canadian Real Estate
Canadian Real Estate Is Worse Than Official Data Shows, BMO Revises Forecast Lower
BMO lowered its Canadian real estate forecast, now calling a double digit correction. The bank is seeing more listing terminations and failed closings, along with falling investor demand. Demand at these prices disappeared so fast, developers are now discussing canceling projects. Not the market people were discussing back in February 2022.
Canadian Cities Have Seen Investors Buy Up To 100% of Newly Constructed Condos
Canada’s real estate boom was heavily investor-driven, especially with new construction. We dug through ownership data and found most condos built after 2016 are investors owned. The owners might be landlords, wanting a second home, or just using it as a house-shaped deposit box. In any…
