Link to full article: https://www.wsj.com/articles/housing-boom-fades-world-wide-as-interest-rates-climb-11658142000  "With Canada mortgage rates at their highest level since 2009, house sales in June were down 24% from a year earlier, according to the Canadian Real Estate Association. Real-estate brokerage Realosophy said Toronto sales declined 40% in May from a year earlier and now sit at a 20-year low. The median price for a Toronto home, excluding condominiums, is... [read more]

It seems like we've pretty progressively found a temporary new normal, with little change in most major metrics. The big one to watch for now is going to be price, which could be gradually dragged down by excess supply. In the microeconomic outlook, it appears we're already seeing opportunism propping up the market on a transactional basis, as we've bounced off fundamentals without rebounding from suppressed capitalization rates we saw in the past few years. It seems like... [read more]

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