According to new data from Stats Canada, Canada’s population growth is at an all time higher, and RBC is reporting that unless 300,000 new units are built, the housing gap will quadruple by 2026. All of this combined with new measures in the federal budget that will allow mortgage holders to avoid default, are poised to boost Canadian real estate higher once again.
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As the world slowly emerges from the Covid-19 pandemic, it is becoming increasingly clear that Canadian real estate is once again on the verge of a major boom. Despite fears of a post-Covid slump in the industry, experts are predicting that Canada’s housing market will remain robust and continue to grow in the coming months.
There are several factors driving this trend. First and foremost is the country’s strong economy, which has remained relatively stable throughout the pandemic. As businesses reopen and consumer confidence returns, experts predict that there will be a surge of demand for real estate in major cities like Toronto, Vancouver, and Montreal.
Additionally, the Canadian government has taken steps to support the housing market, even during the pandemic. For example, the Canadian Mortgage and Housing Corporation (CMHC) has offered mortgage payment deferrals to homeowners affected by Covid-19, which has helped to stabilize the market and prevent foreclosures.
Finally, there is a demographic shift happening in Canada that is also driving demand for housing. The country’s population is aging, and many older Canadians are looking to downsize from large homes to smaller, more manageable properties. This has created a growing market for condos and townhouses, particularly in urban areas where amenities are readily available.
All of these factors combine to create a “perfect storm” for Canadian real estate. Experts are predicting that prices will continue to rise over the next several years, with some estimating that they could increase by as much as 20-25%.
However, there are some concerns about this trend as well. For one thing, rising prices could make it even harder for younger Canadians to get into the market, particularly in major cities where prices are already high. Additionally, there are concerns about the sustainability of the housing boom, and whether it could lead to a housing bubble in the future.
Despite these concerns, however, it seems clear that Canadian real estate is set to explode once again in the coming years. For investors and homeowners alike, this is definitely an exciting time to be involved in the market.
Everyone is living in la la land. It’s going to be a fierce awakening when the pain hits every home.
Real Estate is s Racket…Income to House price ratio is nuts…
Onceuponatime a director of the Bank of England: "…The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money." (Said to be from an informal talk at the University of Texas in the 1920s). – Josiah Stamp, 1st Baron Stamp
Regardless circulation money is a lot lower than it used to be and even business owners don't have as much money as they have before now that owning a house cost twice as much as it did two years ago and within the next two years many people are going to be renewing their mortgages. there Will be blood on the streets. Like realistically the average home in Toronto is over 1 mill so if you actually calculate all the costs associated on a 25 year mortgage you're looking at roughly $7,000 a month and then if you combined two average salaries you have like $50 left to buy food lol I honestly don't understand how people are doing it
The talking heads on TV said foreign buyers are a very small percentage of home buyers. Whoops, they lied
Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Canada doesn't need 1 million new homes. We need 1 million AFFORDABLE homes. Building more $500,000 condos for workers making 35k pretax per year is not a solution.
You eat too much.
We need a New Government , this Liberal/NDP is so Corrupt it is simply destroying Canada .
They can only kick the can so far before civil war.
BS! Your wrong!
This is a supply problem.
If Canada wants to grow via immigration, it has to build more housing. That means it should direct some of that immigration to add to the construction labor pool. With expanded labor in construction Canada can start putting up more homes.
Canada also needs to cut red tape on housing projects. It takes almost 10 years to get land zoned and approved for residential construction. The Feds need to order municipalities to cut red tape and get shovels in the ground.
NO ITS AVLIE & it’s NOT GOING UP – CHRCK THIS OUT!!
https://www.youtube.com/live/UwiDlOIFlxE?feature=share
One question, where is the money coming from?
I think this video is not accurate. Salaries are two low and rentals are high. Unemployment is also average , just bringing in new immigrants won't help. Also considering people leaving Canada. If you see most listings now are on market for long time. There has to be drop in house prices.
Rents will keep going up.
so whoever bought needs to be supported by the government? not a healthy market.
You see pacific size from van to California china control the gov have sold to them no ideas
The next CPI report this April 12th in America will bring down interest rates at the long end. It looks like prices will reach new highs late next year as Markham and Richmond Hill are seeing nothing but bidding wars presently. The entire GTA follows whatever Markham and Richmond Hill does.
Phase 2 of the All Bubble Markets crash is starting. This little pop in RE is identical to the recent pop in stock markets. It's all the same spec trade. Specs never stop until they are bankrupt. That will happen soon enough. Inflation will explode now that the village idiot in Ottawa just pumped another 50 billion in debt into the economy. too many morons chasing too few goods… Now several banks fail.
I never thought I would see 130k salary not be enough to buy a small 2 bedroom townhouse. That’s technically a beginner home. Beginner combined salaries for a couple are usually 60-80k or so.
Time will tell….
Are you an economist or any other mathematics skills to explain your porjections or is jst a bla bla like all other realtors!
For ll buyers, do not buy, wait and you will save a lot of money. do not be like idiots who buy in feb 2022. DO NOT BUY, do NOt Listen to RE agent and Broker .
So basically all of us have to suffer to save a few overleveraged borrowers. Stagflation here we come. Pushing the can down the road will make it worse. Best to get the recession over with now, especially with how far the BoC has come. Would suck to give up on the inflation fight when we are so close to getting control back. I see a repeat of the 70s where the fed and BoC take their foot off the brakes too early and inflation comes back stronger.
Would be better to sacrifice the few for the benefit of the whole or else we will get another Paul Volcker.
May benefit real estate in the short term, but stagflation will eventually lead to problems later on. Have to look at the longer term picture here. It's not good for real estate.