In Toronto, the number of home resales was down about 47 per cent in July compared to the previous year, while new listings fell by about four per cent.
A crash refers to a scenario where prices fall by about 30 per cent and housing demand completely erodes, said Carrie Freestone, an economist at RBC and the report co-author. That, paired with the federal government’s targets to bring in a record 1.3 million new permanent residents by 2024 — adding about 555,000 new households — will help drive housing demand and “contain a housing spiral.”
Toronto house prices are going nowhere but up in the long term.
Says the sponsors of this failing “media” outlet. Advertorial
GFY
So, chronic housing crisis will continue indefinitely 'cause we insist on having the most aggressive immig. rate in the west our broken housing &health systems can't absorb. Result: degraded quality of life for millions, incl. newcomers, as basic human needs are denied people.
They also said prices would never fall.
I thought RBC said Ontario is in for the biggest market correction in decades. Can't believe anything you read anymore.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FP Answers: Where is the best value in Canada for real estate?ICYMI: Where is the best value in Canada for real estate? — via financialpost FPAnswers Canada realestate financialpost Nowhere. 'Value' isn't a $450,000 bungalow in rural Saskatchewan. Corporations bought up all the housing and has priced it beyond the ability of regular working families. Who is going to deal with the affordable housing crisis?
Source: OttawaCitizen - 🏆 21. / 68 Read more »
FP Answers: Where is the best value in Canada for real estate?ICYMI: Where is the best value in Canada for real estate? — via financialpost FPAnswers Canada realestate financialpost Wherever ghw bush the 911 mad bomber from the NYPD 88th precinct chopper chooses to live out his days threatening the Brits n tgat is Kamloops
Source: VancouverSun - 🏆 49. / 61 Read more »
FP Answers: Where is the best value in Canada for real estate?ICYMI: Where is the best value in Canada for real estate? — via financialpost FPAnswers Canada realestate financialpost Toronto, FORGET IT. But, I did come across amazing affordable housing in Sue Saint Marie and Windsor! Affordable housing making it's way back into ONTARIO FOLKS! WOOOOW! People can finally afford homes again. Also Timmins, Ontario has affordable housing folks!
Source: nationalpost - 🏆 10. / 80 Read more »
FP Answers: Where is the best value in Canada for real estate?ICYMI: Where is the best value in Canada for real estate? FPAnswers Canada realestate I did come across amazing affordable housing in Sue Saint Marie and Windsor! Affordable housing making it's way back into ONTARIO FOLKS! WOOOOW! People can finally afford homes again. Also Timmins, Ontario has affordable housing folks!
Source: financialpost - 🏆 7. / 85 Read more »