Bank of Canada

Have Canadian home prices hit a bottom? Here are some clues

Enter “Canadian home prices” into a Google search and you’ll find endless headlines about real estate imploding. That, and 13-year highs in mortgage rates, have driven countless homebuyers to the sidelines. And many are now licking their chops, hoping to buy closer to the bottom. To do that takes market timing. Most experts discourage timing …

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High inflation and rising interest rates are a financial opportunity for young people

While a Gen Xer planning their last few working years or a boomer already in retirement might be anxious at the prospect of lacklustre market returns for a few years, young people have nothing to lose, writes Bridget Casey.Fred Lum/The Globe and Mail The Bank of Canada has raised interest rates four times already in …

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Toronto condo rents hit record high as renters face ‘extreme’ affordability challenge

A woman walks past condo buildings in Toronto’s Liberty Village neighborhood on July 13.CARLOS OSORIO/Reuters It’s a landlord’s market in Toronto once again. Condo rents hit a record high in the second quarter of this year, as soaring borrowing costs pushed residents into the rental market and more people flocked back to the city. Across …

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How real estate investors and speculators helped trigger the onslaught of soaring interest rates

The old deal if you owned a home was low-interest rates and rising equity. The new deal is rising rates and falling equity. This shift is brought to you in part by real estate investors and speculators. They contributed to an inflation problem that is driving up interest rates and bringing prices down. The Bank …

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What Morgan Stanley’s bearish view on US banks means for the Big 5. Plus, three Canadian stock picks from top-rated analysts

Morgan Stanley has slashed its price targets for US bank and consumer finance stocks. So, like most Canadian investors, my immediate thought was whether the domestic banks would be subject to downgrades too. The answer is probably, but not to the same extent. Morgan Stanley analyst Betsy Graseck cut her price targets on US banks …

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