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CDN Real Estate: Detached Housing Prices in 6 Big Cities

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Posted by Brian Ripey's Canadian Housing Price Charts

on Monday, 24 November 2014 08:23

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The chart above shows the average detached housing prices for Vancouver, Calgary, Edmonton, Toronto, Ottawa* and Montréal* as well as the average of Vancouver, Calgary and Toronto condo (apartment) prices (Left Axis). On the right axis is the MLS Annual Total Residential Sales across Canada; the most recent data point being a projection to year end.

In October 2014 Toronto single family detached average prices hit new historical highs on Absorption Rates that are the highest among Canada's 6 biggest cities. Look also at the total MLS sales across Canada which are projecting the biggest single year since the 2008-2009 plunge. It's been a banner year for sales.

Meanwhile Edmonton, Ottawa and Montreal prices ticked down in their flat channels along with Calgary prices that dropped with the energy patch selloff while Vancouver ticked up inside Bull Horse Mt.  

It remains interesting to note that the combined average price of a Vancouver, Calgary & Toronto condo is currently 25% more expensive than a median priced Montreal SFD and note also that in the spring of 2006, those 3-City average condos zoomed 58% in price (over $100,000) in just 3 months as the buy side of the market freaked out over the inversion of the 10yr less the 2yr spread as it went negative (Yield Curve). 

Mattress money has gushed into condos with no respect for fundamentals or plan for contingencies that may be required if Pit of Gloom II develops and one must write off capital gains and rely on employment earnings.



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Real Estate

Canadian Housing Market, Bubble or Not?

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Posted by The Economist via Visual Graphic

on Friday, 21 November 2014 12:48

original

For Canadians, a topic of conversation that comes up often is the housing market. More specifically, whether or not Canada is in a bubble – and if so, will it burst?

It is no secret that Canada has some of the highest real estate prices in the world. Real estate prices were not even slightly slowed by the late 2000s global recession; in fact, they kept climbing higher and higher. All while Canada’s neighbour to the south experienced a dramatic drop and has only now recovered. Even more interesting, America’s



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Real Estate

Essential info for Canadian Snowbirds

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Posted by MoneyTalks Editor

on Monday, 03 November 2014 12:07

Michael interviewed cross border insurance expert David Macfarlane on the surprising, and often unknown, liabilities that Canadian snowbirds face with their home, medical, travel and auto protections. Hear some shocking stories and some ideas on how to enjoy your winter sojourns to the US with greater security. CLICK BELOW to listen to the full interview.

dmacManaging Director of Business Development, Dave works with HUB International's Western Canada operations specializing in real estate, executive risk, senior care facilities, hotels and hospitality, manufacturing, and commercial marine insurance.

And if you would like some help determining if you have the protection you need please call HUB's toll free line 1-844-SNO-BIRD that’s 1-844-766-2473 or email them at snobird@hubinternational.com. Please include your phone # and hometown.



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Real Estate

Bank of Canada: Housing “more robust than anticipated”…

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Posted by Canadian Real Estate Wealth

on Thursday, 30 October 2014 06:33

images… New report predicts market heat to continue well into 2015… Two-bedroom condos increasingly popular…

New report predicts market heat to continue well into 2015, far from the end of market growth, at least in some parts of Canada. The annual Emerging Real Estate Trends report from the Urban Land Institute and PricewaterhouseCoopers says that Calgary, Edmonton, Toronto and Vancouver will continue to the “best bets” based on investment, housing and development.

....continue reading HERE

....related: Vancouver hit by dramatic drop in house values

 



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Real Estate

Connecting the Dots: 5 Warning Signs Point to Real Estate Market Downturn

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Posted by Tony Sagami - Mauldin Economics

on Thursday, 23 October 2014 07:50

Investing is about piecing together different bits of information into an illustrative picture—sort of a Wall Street version of the connect-the-dots game we played in kindergarten.

That’s why the headline below from Bloomberg made my investment antennae stand up and motivated me to look for either confirmation that the real estate market was indeed slowing down or contrary evidence to explain if the weak summer sales numbers were just a temporary aberration.

Image 1 20141021 CTD 2

What that Bloomberg article showed was that home prices in 20 US cities increased at the slowest pace in almost two years ending in July, rising at an uninspiring annualized pace of 0.5%. Those are, by the way, the worst numbers since November 2011.

That’s a change from the healthy real estate gains that we’ve seen for two years, and there are lots of other reasons to think that real estate is headed for a rough patch, if not downright trouble.

Warning Sign #1: Worrywart Homebuilders

You know who knows more about real estate than the Gucci-wearing loafers on Wall Street? The people swinging the



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