Real Estate

The Bank of Canada warned that a severe and long-lasting global trade war may cause more mortgage borrowers to fall behind on their payments — even beyond levels reached in the global financial crisis.

Brookfield Corp. is eyeing faster international growth in its insurance and wealth business, with a particular focus on the U.K., after that division helped propel the firm’s earnings in the first quarter. 

Oxford Properties, which helped develop New York City’s Hudson Yards, struck a deal to buy out Canada Pension Plan Investment Board’s stake in seven office buildings, valuing the portfolio at $1.5 billion (US$1.1 billion), according to a person familiar with the matter. 

The number of homes that changed hands in the Montreal-area rose in April compared with the same month a year ago, despite other major Canadian cities seeing home sales decrease amid uncertainty over the economy.

Following market corrections and economic uncertainty, one mortgage broker says Toronto real estate is now seeing improved buying conditions, with $1 million stretching further than it has in the past.

Home sales in the Greater Toronto Area were down 23.3 per cent in April amid continued uncertainty over the economy, as prices fell for the third month in a row.

One third of Canadians, around 32 per cent, say saving for a down payment is the main barrier for them entering the housing market as rent prices outpace inflation amid lagging wages, according to a new survey.

In Canada’s largest housing market, the number of unsold condominiums keeps rising.

Fifteen minutes after the April employment report hit early Friday, U.S. President Donald Trump seized on the surprisingly strong job growth to ratchet up his pressure on Federal Reserve Chair Jerome Powell, saying there was no reason to hold off on cutting interest rates. 

Vancouver home sales activity was down again in April as the city’s real estate board says some buyers are likely trying to “patiently wait out the storm” with the ongoing Canada-U.S. trade war.

The U.S. dollar is on pace for its worst performance during the first 100 days of a US presidency since Richard Nixon was in the White House as Donald Trump imposes tariffs and attempts to reshape global trade.

Marv Gandall says living in one of Victoria’s largest residential buildings a year ago meant a parade of people with suitcases, stuffed visitors parking and slow elevators.

The BC Real Estate Association reports that the benchmark price for a single detached home in greater Vancouver is $1.8 million, the highest in Canada, making home ownership out of reach for many people who live there.

Yukon’s government is launching a first-time homebuyer program in the territory that will see eligible residents receive low-interest loans to help with down payments.

Real estate watchers say the Bank of Canada’s decision to hold its key policy rate steady at 2.75 per cent will likely keep a sluggish housing market at the status quo.