Forec

Corktown condos starting in the $300s turn attention to Hamilton

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With its leafy parks and stately Victorian homes, Hamilton’s Corktown neighbourhood is the furthest thing from the Steel City’s industrial lakefront.

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Forec

First-time buyers turn focus to townhomes and apartment-style condos

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Edmonton’s resale real estate market is experiencing a different kind of recovery after a short-lived dip in activity over the last several months resulting from rising interest rates.

Statistics for May from Realtors of Association of Edmonton reflect the surge in demand for apartment and townhomes.

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It’s an indication demand remains strong, says Melanie Boles, RAE chair and local realtor.

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“We still have the buyers, but buying power is down,” she says. “But overall, the market is really just now catching up to our predictions from the start of the year.”

Boles is referencing RAE’s forecast for 2023 that predicted buyers would gravitate to less pricey housing types from the traditionally popular single-family detached home segment.

In May, this trend

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Real Estate

This Week’s Top Stories: Canada’s Banks Turn Bearish On Real Estate, & An Unregulated Mortgage Boom

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

Canadian Real Estate

Only One of Canada’s Big Six Banks Expects Real Estate Prices To Rise

Canada’s Big Six banks have released their base case forecasts for real estate prices and only one of them expects prices to rise in the next year. RBC is the most optimistic, expecting prices to rise 2.6% to $732,300 by next year, followed by 5.1% compound annual growth for the next four years. National Bank is the second most optimistic, expecting prices to fall 9.6% over the next year. CIBC, Scotiabank and BMO all expect prices to fall, with BMO having the most bearish outlook, calling a 14.0% drop by next year. 

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Canada’s Subprime Mortgage Problem Is Growing As Private Loan Use Surges

Canadian regulators are sounding the alarm on private mortgages, as it experiences explosive growth. Traditionally these high interest mortgage

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