Yes, Canada’s housing market is correcting but it won’t solve the affordability crisis, which could end up getting “worse,” according to a new analysis from CIBC.
In his analysis, released on Monday, Tal noted that the average national price will have to decline by an additional 25 per cent to reach “pre-COVID levels,” a time when Vancouver and Toronto were already nowhere near affordable.Article content Those three forces are combining to “make projects that only yesterday looked promising, totally uneconomical,” Tal wrote.
“We are in the midst of a project delay/cancellation wave, with developers choosing to sit on their hands, rather than engaging in a money-losing proposition,” he said.
Isn’t that the idea ? If it improved the affordability there wouldn’t be a slump
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Posthaste: Why Canada's housing market slump could make affordability even worseRental needs to figure into the solution but these days there is little motivation for developers to build, says a CIBC report. Read more. They will continue to flood the country with migrants and print money, no way they will allow the housing prices to drop much at all, OHIP has already collapsed because of the immigration Make immigrants as uncomfortable as they tried to make us. Make them regret trying to take advantage of our kindness. If they leave, housing becomes affordable for Canadians born here. I never in my 64 yrs in Halifax seen so many houses being build...there are sub division and clear cutting all around me and that is just in my neighbor hood. Halifax seems to be under constant construction ..new over passes....schools...it seems to never end!
Source: nationalpost - 🏆 10. / 80 Read more »
Posthaste: Why Canada's housing market slump could make affordability even worseRental needs to figure into the solution but these days there is little motivation for developers to build, says a CIBC report. Read more.
Source: calgaryherald - 🏆 64. / 52 Read more »