Stories Tagged - RBC Economics
Feb. 01, 2021 | Mario Toneguzzi
April 17, 2020 | Mario Toneguzzi
With economic uncertainty top of mind due to the collapse in oil prices and the COVID-19 crisis, prospective homebuyers are increasingly looking for more affordable options when making a purchase.
That will likely lead to more demand in the condominium apartment market in the future.
March 13, 2020 | Mario Toneguzzi
However, like anything else in this country, affordability is relative and truly dependent on context. If you're a millennial or a potential first-time homebuyer of any stripe, you're much better off entering the market in Calgary than other major centres like Vancouver or Toronto.
Jan. 10, 2020 | Mario Toneguzzi
Sept. 02, 2016 | CREBNow
Despite signs of a modest recovery in home resale activity, Calgary's housing market continued to struggle amid plentiful supply of homes available for sale, declining prices and softening demographics fundamentals, according to RBC Economics' recent Housing Trends and Affordability report.
RBC said its cost-of-ownership measure for Calgary rose by 0.3 percentage points in the second quarter to 33 per cent of a typical family's pre-tax income, still well below the long-term average of 40.4 per cent for the area.
Both the single-detached and condo segments registered small improvements.
June 06, 2016 | Jamie Zachary
RBC Economics economist Craig Wright and Robert Hogue say the provincial recession continues to weigh on housing demand in Calgary, and such weakness is increasingly undermining prices.
In the bank's Canadian Housing Health Check released this week, the report's authors note the drop in property values has been generally modest to date; however, the pace of decline has accelerated and further downside remains.
Here are five things to know about contributors to Calgary's housing health so far this year:
Jan. 29, 2016 | Cody Stuart
The Bank of Canada's decision to leave its overnight lending rate unchanged at 0.5 per cent is expected to have vastly different impacts on markets across the country, say experts.
The bank's decision to stand pat on the rate it established last July instead of downgrading it by 0.25 per cent will do little to help revive what's expected to be a sluggish economy in 2016, said BMO Financial Group chief economist Douglas Porter in an interview with CREB®Now.
"It's certainly not going to be enough to turn around Calgary," he said. "Is it enough to revive the Canadian economy? No, a quarter point is not going to do it. But there's only so much a central bank can do without risking other things, and I think we've seen those risks in the past year."
April 02, 2014 | CREBNow
"I chose to buy a condo over a traditional house, because I like the idea of not having to mow the lawn or worry about shovelling the snow," said Calgary resident Sarah Gage. "I like the simplicity of living in a condo. There is no work I have to do which is perfect for my busy schedule, and because it is just me that lives in the condo, I didn't need a lot of space."
March 26, 2014 | Cody Stuart
According to a new report from BMO, first time homebuyers in Calgary were more willing to increase their budget than anywhere else in Canada with 54 per cent of Calgarians prepared to spend more. As a result, buyers are also expanding their search to include a greater range of properties.