In 2011, Saskatoon and Regina both saw housing starts increase to levels not seen since the early 1980′s, according to a senior market analyst for the Canadian Mortgage and Housing Corporation (CMHC). Builders in Saskatoon started construction on 1,608 single-family homes and 1,386 multi-family dwellings for a total of 2,994 homes, up from 2,381 last [...]
There seems to be a growing consensus that Saskatchewan is poised for growth and several economists expect our province to lead in 2012. Is economic growth a good thing? Here’s an interesting perspective.
RBC’s third quarter Housing Trends and Affordability study showed “modest improvements” in housing affordability for Canadians as global financial markets continued to face uncertainty and interest rates crept lower. The following is an excerpt from the report on Saskatchewan: Although RBC’s affordability measures for Saskatchewan continue to be above their long-term averages, widespread improvement was [...]
Saskatoon home values have increased by 163 percent since the turn of the current century, claiming one of the highest levels of price growth in Canada, according to a report released today by Remax. Only Regina and Edmonton saw greater appreciation over the same period of time as prices climbed 175 percent and 165 percent, [...]
Last week, I wrote a brief post providing details on the Saskatchewan Party’s plan to provide a tax credit to first-time home buyers that would save then up to $1,100 when purchasing their first home. I’ve just been reviewing the housing strategy for the New Democratic Party (NDP), which is substantially more comprehensive. According to [...]
From the Star Phoenix website today: “The Saskatchewan Party says a new tax credit for first-time homebuyers would make home ownership a little more affordable. On the campaign trail in Regina on Thursday, Premier Brad Wall pledged to introduce a non-refundable income tax credit to all first-time homebuyers that would result in an income tax [...]
Lower borrowing costs in the final quarter of 2010 helped drive a “modest” improvement to housing affordability for Canadians, even though house prices saw small increases across most of the nation during that time, a new report from RBC Economics states. The slight improvements are likely short lived as interest rates have recently started to [...]
You’ve no doubt heard a lot about a Canadian housing bubble. The national media has featured stories on it every week for months. Of course, the big question on everyone’s mind is, “Just how overvalued are Canadian homes?” CIBC economists throw out some pretty precise figures in their “Economic Insights” report released today titled, “Ottawa [...]
Canadians from coast to coast saw a higher percentage of their income going towards housing costs in the second quarter of 2010, largely driven by an increase in house prices and mortgage interest rates when compared against the first quarter. This marks the fourth consecutive time that RBC’s “Housing Affordability Measure” rose. According to the [...]
Canada Mortgage and Housing Corporation (CMHC) released their 3rd quarter Canadian housing forecast this morning. With hundreds of billions of dollars riding on insured mortgages, nobody will claim that CMHC doesn’t have a fair bit of skin in the real estate market and is not exactly an unbiased source. Just the same, they have a [...]
I’ve just read “Assessing Vulnerabilities in the Canadian Housing Market,” a five-page report written by CIBC economist Benjamin Tal and released on May 25. If you’re looking for some reassurances that the bottom isn’t about to fall out of the Canadian housing market, you may appreciate Tal’s assessment. Mr. Tal clearly feels that Canadian housing [...]
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