CIBC Deputy Chief Economist Benjamin Tal was recently interviewed by Larysa Harapyn of the Financial Post about the state of the housing market in the Greater Toronto Area. The message he delivers is pretty clear: “If you think that Toronto is unaffordable now, you wait.”… Read More
Rachelle Younglai and Chen Wang’s recent piece in the Globe and Mail on suburban household debt (in Canada) has a number of interesting stats. Here are some of them: Looking at debt service ratios across the country, the most financially stressed neighborhoods in Canada are… Read More
Shaun Hildebrand (Urbanation) and Benjamin Tal (CIBC) published a report today called, “A Window Into the World of Condo Investors.” In it they revealed that last year (2017 data) no less than 48% of the Greater Toronto Area’s newly completed condo units were closed on by “rental… Read More
BILD (the Building Industry and Land Development Association) just released its June 2017 data for the Greater Toronto Area’s new housing market. You can read the full release here. But I would like to point out a couple of things: About 91 percent of the… Read More
The Building Industry and Land Development Association (BILD) announced its February (2017) numbers today for the Greater Toronto Area. Here are some of the highlights: – At the end of February, there were 324 detached homes available in developer inventories. Ten years ago, this number… Read More
This morning BILD released its November new home data for the Greater Toronto Area. The story is one we’ve been hearing for a while. Supply is trending downward. It’s becoming harder to build. And prices are up. The average new detached house in this region… Read More
This morning, I am looking at the following chart of average home prices in the Greater Toronto Area: It’s from this Globe and Mail article. These are staggering numbers. The average price of a detached home in the suburbs (905 area code) increased 21% year-over-year.… Read More
In today’s post I’d like to focus on the second tweet I embedded in yesterday’s piece about downtown Toronto. Specifically, the fact that almost 75% of downtown residents walk, cycle, or take transit to work, leaving drivers firmly in the minority. For me, this then makes… Read More
I’m late in writing this blog post because I was up in Collingwood for the day snowboarding. I’m exhausted, but I do have something to say. One of the things I always find interesting when I’m driving north of the city is how far Toronto’s… Read More
Earlier this month, the Royal Bank of Canada and the Pembina Institute co-published a report on Toronto’s housing market called “Priced Out”. The overarching argument is that homebuyers in the Greater Toronto Area (GTA) are being “priced out” of the areas in which they really… Read More
BRANDON DONNELLY 