SALES COLLAPSE? 🚨 | Canada Real Estate

The reality of no Bank of Canada Drop in March & April knocked down Home Sales in 2 of Canada’s most populous provinces making everyone wonder where did the Spring Real Estate Market go? Another blow to a shrinking Canadian Economy? Or are Home Buyers just that incredibly sensitive to Mortgage Rates? The easy answer in the 2 most expensive places in Canada to buy homes? Absolutely YES

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[noahzimmerman-ygqt]

Housing prices are unlikely to decrease until there's a substantial increase in housing supply. there's a shortage of millions of housing units in Canada, and construction isn't keeping pace. The constant demand for housing, coupled with population growth, means that even a slight price drop attracts numerous buyers who quickly absorb the available supply.

[austinbar]

Individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.

[RJ_]

It's not the rates it's the PRICES!

[CoconutPatel]

This country is falling apart, thats whats happening 🤦

[m.b]

Canadian wages have not kept up with inflation. Many people have used their ever increasing equity in their home like an ATM machine and as a second source of income. That party is over

[lominiski]

I am a realtor too. Yeah. Lots of lying realtors. I was saying rates would go up in 2021. I still see rates going higher.

[jody-nexs]

I took all my investments out of Canada during bank account freezings. All Canadian stocks and any company with Canadian exposure i refuse to invest in. Principle investing is a thing against Canada.

[gaal]

I live in Montreal I've noticed when many people were selling on the high in Toronto, the people sold took the money moved to Montreal bought a nice house bought a convince store or put a deposit on a franchise operation and actually put a little of money on the side. Wow Toronto got many cousins live there prices insane

[benvolman]

Looking at whats happening in China, I'll bet the easy foreign money is drying up.

[bonnyc]

I do not understand why Calgary has so many of their two storey townhomes as condos . Ottawa has mostly freehold ones. I was wondering if builders and condo corporations have some type of agreement. The condo fees can be unpredictable and really add to the cost.Trudeau's excessive immigration really caused a housing shortage and real estate agents in some cases encouraged to potential buyers to submit excessive bids for properties causing price wars.

[shanep.]

9 years of Trudeau = disastrous results

[rickmccall]

Every body is freaking broke . Prices are inflated

[doylejodi]

My oldest wanted to be a buyer..but my Lord, she simply can’t afford the price the houses are put up for. My Mom pd 78, 000 for her house around ‘90 and we sold it for over $300, 000. It needed a lot of updates and repairs. Really, it should have been a $150, 000 house at most! Looking forward to a saturated market, for her.

[rosieone]

Real estate brokers and agents are like gold prospectors, always looking for the next great discovery and when the resources dry up they scramble to find any excuse to explain their short comings.
Just remember, Real Estate is nothing more than a hole in the ground with a liar on top.

[coreyvanular]

They want 1.2 million for pieces of shit subdivision houses where I live

[omegafile]

I don't think we really recovered since covid.

[pnewfei]

Over inflated bubble has burst and no rate cut is going to help this overly manipulated RE market.
Rates will go higher by year end as bond market is showing

[rdefacendis]

Its not just the 50, 000 condos coming online in the next two years - its the government pouring billions of incentives into building purpose built rentals. THAT is going to increase competition and put downward pressure on rents for mom and pop investors in the medium term. If you are not going to see condo appreciation in the next five years AND you are going to be cash flow negative each and every month - why would you invest?

[thunderbird]

Home sales my be decreasing but home values are holding steady. Its the high end market that is really suffering.

[AD-wsqm]

Price and bond yields... 5 years fixed rates are up... single family lots ( older builds) prices are extremely expensive, due to government policy of multiple units per lot... too many federal provincial, and municipal changes for the population too keep up with... time to take a breath
.. calm before the storm