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Toronto experienced a 27.4 per cent increase in overall condo starts in the month of April. Some continue to worry if there is too much development going on and if supply is outweighing demand, contributing to the so called ‘condo-bubble’ in Toronto’s downtown core. So, is the supply sustainable?
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CMHC Released their annual report last week, Tuesday May 8th. The Canadian Mortgage and Housing Corporation continues to be an integral player in contributing to the stability of the Canadian marketplace. In 2011, spending on housing accounted for a whopping 20 per cent of Canada’s GDP last year and CMHC provided $2 billion in support of housing programs. Here’s a summary of the report.
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Over the last week the Real Estate Board of Greater Vancouver (REBGV) and Toronto Real Estate Board released their monthly real estate market reports. Here is a summary of their findings.
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Back in March of this year, OSFI (Office of the Superintendent of Financial Institutions Canada) released their draft recommendations to banks and other federally regulated lenders to tighten underwriting practices. The OSFI was calling on banks to submit their feedback to the suggested changes with the deadline being this past Tuesday, May 1st.
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There have been talks about Canada’s subprime mortgage industry getting out of control as the banks turn more and more clients away who have less than perfect credit. Who are these so called less than perfect clients turning to?
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