Bank watchers look for clues on housing market
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Bank Of Canada Governor, Canadian Real Estate, Edmonton, Existing Home Sales, Growing Concern, Household Debt, Housing Bubble, Housing Market, Mark Carney, Midst, Monday Afternoon, Real Estate Market, Real Estate Sector, Recession, Red Hot, Shed
Times Colonist- The Bank of Canada may shed further light on whether the country is in the midst of a housing bubble when one of the governor’s advisors talks about the real estate sector in a speech Monday afternoon in Edmonton.
The speech is entitled, Canada’s Housing Sector in Recession and Recovery, and will be closely watched for clues of growing concern among Bank of Canada policy makers on the red-hot recovery in Canadian real estate. In recent weeks, Bank of Canada governor Mark Carney has warned of growing levels of household debt, perhaps stoked by record low borrowing costs that’s driving people to the real estate market.
As of November, existing home sales are up 73% on a year-over-year basis, while prices have climbed nearly 20%…
Bank watchers look for clues on housing market
Stimulus and housing give economy one-two punch
Filed Under Main Content · Tagged: Construction Activity, Economic Recession, Economy, Existing Home Sales, Financial Insurance, Housing Market, Insurance, Ottawa Citizen, Pillar, Punch, Real Estate Agents, Reflection, Remarkable Strength, Statistics Canada, Stimulus
Ottawa Citizen-
“Financial, insurance and real estate have continued to be that pillar of strength, consistently showing growth through much of this economic recession,” he said. “And we know that is the housing market, a reflection of the remarkable strength in the existing-home sales market.”
October figures from Statistics Canada show a 7.2% rise in existing-home sales activity from real-estate agents and brokers. However, construction activity was up only 0.1%…
Stimulus and housing give economy one-two punch
HOUSING CLAWS BACK
Filed Under Main Content · Tagged: Calgary, Existing Home Sales, Toronto Ontario, Vancouver
Financial Post – Toronto,Ontario – Existing-home sales rose 42% from January to May across the country and early indications are that June was the strongest month this year. Sales in Vancouver were up 76% last month from June a year ago and Calgary and Toronto both posted 27% increases during the same period….
