This Week’s Top Stories: Canada’s First-Time Home Buyers Need To Be Rich, RBC Makes 8th Bottom Call

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Real Estate Bubble: First-Time Buyers Need To Be Among Top Earners First-time home buyers need to be among the wealthiest households in Canada. That’s the take from new Statistics Canada (StatCan) data revealing their income. The agency’s data reveals these buyers earn between 13% and 36% more than the median in 2023. While the agency only provided data going back to 2021, it’s enough to show a sharp erosion in affordability. Even if you’re not a first-time buyer, this data presents a concern for the current home valuations. There simply isn’t enough liquidity when only the top earners can afford to step on the property ladder. Continue Reading… Canadian Real Estate Nears A Bottom? RBC Calls It For An 8th Time In 4 Years RBC is calling a bottom for Canadian real estate markets, much to the joy of the industry. It’s welcome news, but there’s just one teensy problem—the bank has done this at least 2x/year since the market peak. They first called a bottom a few months after the peak, while interest rates were still climbing. Reviewing the history it appears these calls weren’t based on any data we coul...