HOUSING CRISIS | Expert warns interest rates alone won't repair supply and demand

Mortgage agent Nick Hill says the housing crisis is simply an affordability crisis for eager homeowners across Canada.

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[TML-pmfz]

If you want housing prices to go down write your MP and tell them to massively reduce Canada's massive immigration problem.

[gorgeousgeorge]

in 2015 we had 35 million Canadians. 2024, we have 41 million Canadians. We built around a million homes during the same period (new builds minus dilapidated builds). This isn't finance or economics, its elementary school math, which Liberals failed.

[joshfelice]

Please stop referring to mortgage agents as experts; it's just a three-week course

[SARugby]

Do you know how they could boost supply? Lower demand. Bringing in over a million immigrants a year has inflamed all of the existing problems. Housing, medical workers shortages, public infrastructure and more, has all been made worse by our current immigration policies. Instead of flooding the country with immigrants from the third world, we need economic reforms because without it, the business class will continue lobbying for mass immigration

[jumbome]

Well of course interest rates will do nothing to help the supply. Stoping all immigration will

[RC-fhlk]

Wages in Canada are just too low..it’s as simple as that.

[Martin-qmlg]

It comes down to a terrible government crisis. Vote out the government responsible for this: Liberal/NDP.

[cabbagedestroyer]

Last year' there were 250k home start-ups total (not completed, just 250k planned homes that will be started soon or just started or is being constructed) and 1.2 million immigrants (not counting refugees or anyone who overstays their visa). I wonder what is causing the housing and rental price to go up and up while causing rental conditions to get worse and worse?

[rosieone]

Crisis, What Crisis.
Nobody in real estate sales or mortgage lending screamed Chicken Little when “ Sold Above Asking” was running rampant. Now that the market is a mess, all the roaches are blaming someone else.

[helpothers-afriendinneedis]

Most of the developed nations have housing costs similar to Canada. For example, in Helseinki Finland, Seoul in South Korea both of which I have experienced. Canada, being a developed nation, its prime cities like Vancouver Toronto, goes by similar house price hike.

[jimmyhat]

Price's are fuking rising in my town again lending hasn't been restricted and interest rates fell short of being affective. This guy's lieing this is hyperinflation

[spacelabgames]

Home sales and overall demand are at an all time low and interest rates have risen...yet home prices remain high. There's something terribly wrong with the housing market in Canada.

[Russelbobby]

*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*

[oleksii]

The main problem is that in 3 years house ( plywood box) price rised from 300K to 500 k or from 800K to 1.5 Ml. Those increasing has to happen in 10 years but not in 3 y.
How family of 2 working adults who make 70-120k per year can even think how to afford own home.

[lostmoose]

Compare those astronomic figures to the 20ies, 30ies, ....to 70ies.
They built stumphouses after the huge trees got harvested or they
used pallets to build really nice little homes which stand till today.

[StuntDonk]

Cities should have the power over immigration and commuters

[EvansBoy]

No but at least it stops the "investors" from having their tenant pay 100% of their mortgage.

[LS-ihdg]

I would like to see a story/ news coverage on Organized Crime in Canadian real estate

[fixitright]

Here in the United States Mass immigration is the number one reason why the average working class Americans can't afford Or find a house, A $250, 000 1000 square-foot shack is half their monthly income, But They are being gobbled up by newcomers these homes are not worth $250, 000 These homes are at least 80 years old and have a lot of lipstick put on them from flippers, if you got money Though there are plenty of rich folks house available

[markbrady]

Now we hear they're planning to tax primary residences with capital gains.