It's not the damn rates. I'd be able to afford 8% if we had 2019 prices. It's the price!!! the price!! The damn price!! If you want more buyers in the market, lower the price!! New home buyers are being literally shut out. How do you expect Canadians to work out an additional 200% minimum on the baseline price? The market is over inflated for no reason at all. New builds affected by inflation. Sure why not. But a home that was built in 1940?? Absolutely the f not
So if you can afford 8% at 2019 prices your should be able to afford 4% and todays prices. Technically then it’s not the price per say, it’s the rate to price ratio.
Leasehold new condos in desirable areas are the missing middle to affordability. Better than renting but cheaper than freehold. 99 years is plenty. There’s starting to be collaboration with developers and First Nations and their lands on this issue. Definitely a win-win.
Why like USA the government is not bringing income verification between CRA and banks for every mortgage application to cut on mortgage fraud and automatically home prices will fall down. Need lower home prices not lower interest rates.
Depends on the location. Toronto Vancouver are insane. Alberta, Saskatchewan a lot more affordable. Any increase would be in the more affordable markets, and any decrease will impact the expensive markets most significantly.
The real-estate market is driven by first time homebuyers who at present time have no way in h--- of ever buying one. We need a 50% correction to get it in balance and because of the immigration boondoggle, that is not happening anytime to soon. A full on recession would cure the present situation which at present time doesn't seem all that bad considering all that is happening with this government of ours.
In what way is it good for single people to buy a home right now? It's quite literally 200% minimum above what it was 4 years ago. The government is still very much trying to pump the housing market and squeeze as much money out of it as possible. Simply because this could have been fixed with one bill, without any change to the mortgage rates, without adding an additional 5 years, All they had to do was cap the price in which they could increase after purchasing a home unless substantial upgrades were made.
This chick goes back and forth between it's affordable and it's not affordable right now. Says the prices desperately need to come down but then also says it's a great time for single people to buy? What world do you live in? Cuz I want to live in that one
Lol this lady is cooked. Mortgage rates come down so rental rates can come down? I can’t believe she actually said that on TV lol 🤦🏻♂️. OVERSUPPLY of condos = cheaper rental rates Also, does anyone else hate when mortgage brokers or realtors call themselves CEO & Founders 😂😂 You founded nothing, your a broker. Of course you are the CEO, you are your own boss as an independent contractor LOL
It's not the damn rates. I'd be able to afford 8% if we had 2019 prices. It's the price!!! the price!! The damn price!! If you want more buyers in the market, lower the price!! New home buyers are being literally shut out. How do you expect Canadians to work out an additional 200% minimum on the baseline price? The market is over inflated for no reason at all. New builds affected by inflation. Sure why not. But a home that was built in 1940?? Absolutely the f not
So if you can afford 8% at 2019 prices your should be able to afford 4% and todays prices. Technically then it’s not the price per say, it’s the rate to price ratio.
Leasehold new condos in desirable areas are the missing middle to affordability. Better than renting but cheaper than freehold. 99 years is plenty. There’s starting to be collaboration with developers and First Nations and their lands on this issue. Definitely a win-win.
Why like USA the government is not bringing income verification between CRA and banks for every mortgage application to cut on mortgage fraud and automatically home prices will fall down. Need lower home prices not lower interest rates.
Depends on the location. Toronto Vancouver are insane. Alberta, Saskatchewan a lot more affordable. Any increase would be in the more affordable markets, and any decrease will impact the expensive markets most significantly.
The real-estate market is driven by first time homebuyers who at present time have no way in h--- of ever buying one. We need a 50% correction to get it in balance and because of the immigration boondoggle, that is not happening anytime to soon. A full on recession would cure the present situation which at present time doesn't seem all that bad considering all that is happening with this government of ours.
You do not know what you are talking about
In what way is it good for single people to buy a home right now? It's quite literally 200% minimum above what it was 4 years ago. The government is still very much trying to pump the housing market and squeeze as much money out of it as possible. Simply because this could have been fixed with one bill, without any change to the mortgage rates, without adding an additional 5 years, All they had to do was cap the price in which they could increase after purchasing a home unless substantial upgrades were made.
This chick goes back and forth between it's affordable and it's not affordable right now. Says the prices desperately need to come down but then also says it's a great time for single people to buy? What world do you live in? Cuz I want to live in that one
Define "good deal on a property"
Lol this lady is cooked. Mortgage rates come down so rental rates can come down? I can’t believe she actually said that on TV lol 🤦🏻♂️. OVERSUPPLY of condos = cheaper rental rates
Also, does anyone else hate when mortgage brokers or realtors call themselves CEO & Founders 😂😂 You founded nothing, your a broker. Of course you are the CEO, you are your own boss as an independent contractor LOL