Tag: Canada

Watch out: the Canadian housing market could become a drag on the economy in 2019

The Canadian housing market hasn’t provided much of a boost to the country’s economy in 2018 and, according to one bank, it’s a trend that will likely continue in the new year.

Housing starts have been slowing in recent months, which CIBC economist Royce Mendes believes is a sign that the market will exert a drag on the Canadian economy in 2019.

Research reveals preference for single family homes

Despite rising housing costs, eight out of ten young, urban families in Canada’s key metropolitan areas would prefer to live in a detached single family home if money was no object.  This was one of the main highlights in a recent report released by Mustel Group and Sotheby’s International Realty Canada on home ownership trends among modern families.

43% of Canadian families have given up on the dream of a low-rise home

The majority of young Canadian families would prefer to live in a single detached home, but many have given up on the dream of ever being able to buy one.

In fact, 43 percent of families surveyed in a recent report from Sotheby’s International Realty Canada said that high detached home prices meant they had to settle for higher density housing.

Is Canada’s borrowing finally entering a lull?

While the Canadian household debt balance has broken all previous records by reaching a total of $2.13 trillion in July (up by 3.77% compared to the same time last year), data from the Bank of Canada also indicated a recent sharp decline in the growth of these accountabilities. Canadian mortgage

Too late for government action on GTA bubble say residents

The high cost of housing in the Greater Toronto Area is leaving many residents side-lined with little expectation that much can be done. A new survey from the Angus Reid Institute finds that both homeowners and non-homeowners believe that real estate in the GTA is “unreasonably high” but there don’t

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East Coast Mortgage Brokers is Newfoundland and Labrador’s premier mortgage company. Founded in 2010, we work with Canada’s top lenders to ensure our clients get the best deal for their mortgage.