The numbers are in and, as one economist puts it, April was the cruellest month for the housing market.
Aside from Calgary and Edmonton, home sales in other major Canadian markets have sunk below their pre-pandemic levels, says Capital Economics. “April proved to be the cruellest month for the housing market, with the recent jump in mortgage rates causing large falls in sales across the country,” wrote senior Canada economist Stephen Brown.
How is this a bad thing?...Runaway real estate prices and inflation are ruining our economy as well as people's dreams of owning a home...Only people that disagree are agents, investors and wall street. We need some balance back..... Who does these types of articles benefit?🤔
Someone is sure pushing this agenda in the National Post
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Barry Choi: These real estate changes would actually make housing affordableCanada\u0027s politicians could (but won\u0027t) do these 5 things to make housing more affordable Real estate bubble is going to blow up soon. what are these high school economics? The main points of the article are to generate less buyers, thus the price will go down? No No No. You are just making people go further in debt to do so. People crave ownership, and will go the extra miles regardless of your ideas.
Source: VancouverSun - 🏆 49. / 61 Read more »
Barry Choi: These real estate changes would actually make housing affordableCanada\u0027s politicians could (but won\u0027t) do these 5 things to make housing more affordable I understand that something should happen but doubling taxes because you own 2 properties ( house and cottage) or increasing cap gains from 50 to 75% . Sorry but no. How about real-estate agents can only recieve commission on what they listed it for not the bidding increase? It’s very clear to me people don’t know how to live within their budget. This has nothing to do with the price of housing. If you don’t make enough money look elsewhere. There are still lots of places in Canada that have everything you could want. Just not In major city’s Stop giving loans out for next to nothing. Increase interest rates to 5-7% and the market will become affordable.
Source: nationalpost - 🏆 10. / 80 Read more »