Canadian Housing Is Oversupplied For Now #canada #realestate #housingmarket

Your thoughts?

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[Canuckrz]

I dont think its fair to point at people not wanting to pay 650k for a dog kennel condo as evidence of the market being over supplied in general. They're sitting on the market because they're not priced in a manner that reflects the buying ability of the demographic that would realistically buy a dog kennel condo.

[Imsosmrt]

That’s like saying the market for bread is oversupplied when a loaf costs $350 and nobody is buying.

[minizinnia]

Over supply of overpriced real estate perhaps?

[ElectronicWasteland-px]

Don't worry population growth will have collapsed and possibly go negative by then. We don't need more houses if nobody wants to move here.

[windatar]

Over supplied. No one wants these 350-450sqft dog house condos built for investors banking on the old short term rental boom then bust.

[smityca]

Nobody’s paying attention to demographics 🤷🏻‍♂️ life expectancy has declined by 2 years since 2020, 40% of homes are owned by seniors 😳 do the math 🧐

[shanerogers]

The bubble is the biggest in history both in Canada and in the US. The prices have to correct the local wages or it should remain unsold and the in can pay for it to remain empty

[mikethomas]

They see the future that is why the government is collapsing immigration. I think the standard is a lot of ppl take 4-5 years before they buy their 1st house/condo in Canada 🇨🇦.

If they take a bear minimum of immigrants now then there will be a minimum amount of ppl wanting to buy 4-5 yrs from now. Hopefully, supply & demand will balance out 4-5 yrs from now. Key word here is "Hopefully".

[huskavarnapunkband]

Developers know there's a population collapse, why would they build ?

[the_kingdm]

So if this is the case then in 2028 we'll see another massive inflation on house prices due to under supply