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TRENDS IN THE HOUSING MARKET — CONDOS ARE ON FIRE! | Debt, Empty Homes & the Global Housing Bubble

501 views · Published 19 May 2017 · 1:07:20 · Indexed 21 October 2026

Channel: Mike Martins · 2017 · People & Blogs

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“I predicted a year ago that the crash will be now and I was absolutely wrong and man was I ever wrong” — Mike Martins

📌 MAJOR TOPICS & HEADLINES COVERED
- Toronto condos explode higher — average GTA condo prices discussed at roughly $541,000, approximately 32% higher year-over-year.
- Toronto proper condos approaching $578,000 — buyers increasingly shifting toward less-expensive housing types as detached homes become unaffordable.
- Toronto condo listings decline while sales increase — another supply-and-demand squeeze.
- GTA home sales cool in April — national MLS sales reportedly declined 1.7% from March.
- Foreign-buyer tax being covered for investors — discussion of a Hong Kong advertisement reportedly offering to cover Ontario's foreign-buyer tax for buyers of a Toronto condo development.    Pasted text
- Toronto, Seattle, Portland and the U.S. West Coast — discussion of international marketing and foreign investment spreading through major North American housing markets.
- Vancouver condo inventory falls — Vancouver's condo benchmark discussed at roughly $554,100, up approximately 16.6% year-over-year.
- Sydney and Melbourne affordability — comparison with Australian one-bedroom properties approaching or exceeding extremely high price levels.
- BC housing inventory hits a 20-year low — fewer homes available while affordability remains extremely challenging.
- Goldman Sachs housing-bust warning — Canada given approximately a 30% probability of a housing bust within two years under Goldman's definition; New Zealand and Sweden are shown with even greater risk.    Pasted text
- Canadian household debt — debt discussed at more than 167% of disposable income, while everyday expenses further squeeze household budgets.
- $1.5 million Vancouver houses — comparison of what approximately $1.5 million buys in Vancouver versus Montreal, Halifax, Ottawa, Saskatoon and Calgary.
- Merritt affordability — discussion of why you chose to leave Vancouver and purchase your Merritt property rather than pay Vancouver prices.
- Canadian mortgage rates potentially approaching 5% by 2019 — discussion of a Desjardins report forecasting higher rates if North America's economic expansion continues.    Pasted text
- Home Capital Group crisis — deposits falling rapidly at Canada's largest non-bank mortgage lender.
- Ontario Securities Commission allegations — discussion surrounding Home Capital's mortgage-underwriting disclosures.
- Alternative mortgage lenders — concerns about borrowers who cannot meet major-bank qualification standards and what happens when alternative lending tightens.
- Chinese capital controls — discussion of changing Chinese property-search activity following tighter capital controls.
- Canadians buying U.S. property — Canadians reportedly ranking highly among foreign searchers in markets including Miami, Los Angeles, Bellingham, Hawaii and New York.
- Canadian brain drain — doctors, tech workers, geologists and other skilled professionals potentially leaving Canada partly because housing is more attainable elsewhere.    Pasted text
- Florida and New Mexico housing — discussion of significantly cheaper U.S. housing options compared with Vancouver and Toronto.
- Paris fights vacant homes with a 60% tax — Paris dramatically increases its vacancy tax in an attempt to discourage speculative vacancies.
- 107,000 vacant homes in Paris — including approximately 40,000 reportedly not connected to the electrical grid.
- Vacant homes around the world — discussion includes London, New York, Hong Kong, Paris, Singapore, Sydney, Toronto, Vancouver, San Francisco and Los Angeles.    Pasted text
- UK housing market enters a softer period — average values reportedly relatively static for roughly ten months.
- Australia's new housing supply isn't helping low-income buyers — new construction remains concentrated in middle and higher price ranges.
- Australian wages vs. housing costs — wages failing to keep pace with housing affordability pressures.
- Swedish housing market enters the discussion — Goldman Sachs identifies Sweden and New Zealand among the G10 markets most at risk of a correction.
- New Zealand affordability — even highly paid professionals are struggling to move up the housing ladder.
- The working and middle classes leaving major cities — warning that cities cannot function indefinitely if the people who actually operate them cannot afford to live there.  

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