Home-equity-loan balances in Canada per capita are now 3.3 times what they were in the US during HELOC peak before it all collapsed.
What will the Bank of Canada do?
Cash extraction at the peak of a long housing bubble, via multiple mortgages on the same property: Does that ring a bell?
The underlying dynamics are similar, but the approach is different.
The changes pose real threats to the highly speculative pre-sale condo market.
The national slowdown was particularly unkind to the province of BC.
A massive survey of recent homebuyers reveals all.
It’s not subtle: Home sales plunge, inventory jumps, prices begin to react.
Despite persistent and false memes to the contrary.
Subprime goes to the Toronto condo market.