Real Estate

This Week’s Top Stories: Canadian Real Estate Prices Absurd Compared To G7, Forecast To Fall

Time for your cheat sheet on this week’s top stories.

Canadian Real Estate

Canada’s Real Estate Bubble Is Batsh!t Crazy Compared To Other G7s

Canadian real estate prices are moving like nothing else in the developed world. New data from the US Federal Reserve shows Canadian home prices have risen much faster than any other G7 country. Despite recent growth being attributed to population, this issue pre-dates the recently adopted narrative. Since 2005, Canadian home prices have shown more than double the growth of any other G7 country.

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Canadian Real Estate Markets Improved, But Prices Are Still Falling: BMO

Canadian real estate sales rose but not enough to stop prices from falling. Home sales showed monthly growth of 8.7% in December, while new listings fell. Despite the mild tightening, prices continue to fall—dropping another 0.8% in December. It was the fourth month that home prices fell, with at

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Real Estate

2 Top Real Estate Stocks to Buy on the TSX Today

Image source: Getty Images

Real estate investing can be an entirely passive endeavour via stock investing. A top real estate stock that is a Canadian Dividend Aristocrat that increased its dividend at the highest rate in the last year was FirstService (TSX:FSV). Specifically, in February, it increased its quarterly dividend by 10.8%.

It has outperformed the Canadian real estate sector (using iShares S&P/TSX Capped REIT Index ETF as a proxy) and the Canadian stock market (using iShares S&P/TSX 60 Index ETF as a proxy) over the last five years, as shown in the graph below. So, it’s worth a closer look.

FSV Total Return Level Chart

FSV, XRE, and XIU Total Return Level data by YCharts

FirstService provides real estate services in North America, including managing residential communities. Additionally, it provides essential property services through individually branded franchise systems and company-owned operations. In most years over the last decade, FirstService achieved returns on equity of

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Real Estate

Mirvish Village developer Westbank faces lawsuits over unpaid bills and more of this week’s top real estate stories

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Home of the Week, 29 Swanwick Ave., TorontoRaffi Tutundjian/Raffi Tutundijan/Jagged Lens

Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.

Take The Globe’s business and investing news quiz

Property developer Westbank faces lawsuits over sprawling Mirvish Village redevelopment project

High-profile Canadian real estate developer Westbank Corp. is being sued by four construction companies for more than $25-million in unpaid work at the large Mirvish Village rental apartment project in Toronto, writes Shane Dingman and Rachelle Younglai. In a statement, Westbank said the issues stem from disruptions after it took over as its own construction manager on the site, and said that construction is “progressing” as it plans to finish the residential portion of the Mirvish project in 2024.

Westbank

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Real Estate

This Week’s Top Stories: Canadian Real Estate & Labor Markets Are Weakening

Time for your cheat sheet on this week’s top stories.

Canadian Real Estate

Canadian Real Estate Balancing In A “Meaningful” Way, Pause Unlikely To Boost Market: BMO

The Canadian real estate market is back to cooling after a brief jump in activity post-rate pause. Existing home sales fell, and new listings have been climbing to the point the market is now considered  “balanced.” Despite getting another rate pause a few days ago, BMO says it’s unlikely to reignite the market the way the January pause did. The economy is much weaker, record building will supply even more inventory, and most importantly—the mortgage market is much tighter, and won’t provide any relief. 

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If Canadian Unemployment Is So Low, Why All The Long Job Lines?

Canada’s unemployment is just off the record low, and by all technical measures—means we’re facing a very robust market. Yet social media is filled with

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Real Estate

China real estate: Home sales by top 100 developers plunged further in July


Hong Kong
CNN
 — 

Plunging sales of new homes and the reported cancellation of a share placement by China’s biggest property developer on Tuesday underscored the depth of the country’s real estate crisis.

Reports that Country Garden had abruptly pulled an attempt to raise $300 million by issuing new shares in Hong Kong coincided with the release of data late Monday showing new home sales by China’s 100 biggest developers dropped by 33% in July from a year ago.

“No definitive agreement has been entered into with respect to the proposed transaction and the company is not considering the proposed transaction at this stage,” Country Garden said in a statement. Its shares fell as much as 11% on the Hong Kong stock exchange. They were last down 7%.

The drop in new home sales in China is the steepest monthly decline since July 2022. For the first seven months of

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