real estate prices in Canada sustainable?
#706
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Re: real estate prices in Canada sustainable?
It's looking like it really depends what kind of profession your in and where on the pay scale you are, because nowhere I have ever worked had any hestitation to fire people, infact it happened on a regular basis, so much so in some workplaces joinkly guessed who would be fired next.
I have never in 26 years of working, worked anywhere in the US or Canada that was shy or hesitant about firing people, granted these were all lower wage jobs, so seems there might be fairly big difference between lower paying employees and higher paying employees?
I have never in 26 years of working, worked anywhere in the US or Canada that was shy or hesitant about firing people, granted these were all lower wage jobs, so seems there might be fairly big difference between lower paying employees and higher paying employees?
#707
Re: real estate prices in Canada sustainable?
I don't work with the really highly paid but there's no difference up to the level of employee I deal with.
#708
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Re: real estate prices in Canada sustainable?
#709
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Re: real estate prices in Canada sustainable?
RBC housing report.
RBC’s aggregate affordability measure worsens the most in more than 30 years.
Every market and housing category got less affordable, with Toronto, Vancouver and Ottawa leading the pack with the worst deteriorations.
Prairies and parts of Atlantic Canada ownership costs not an overly burden, burden is heaviest in Vancouver, Toronto and Victoria.
Affordability to become even more strained, affordability deterioration is poised to moderate with prices expected to continue to rise in the near term, maybe prices flattening out in 2022.
Obviously being RBC is may have some bias leaning towards the banks perspective.
https://thoughtleadership.rbc.com/ca...ing-away-fast/
RBC’s aggregate affordability measure worsens the most in more than 30 years.
Every market and housing category got less affordable, with Toronto, Vancouver and Ottawa leading the pack with the worst deteriorations.
Prairies and parts of Atlantic Canada ownership costs not an overly burden, burden is heaviest in Vancouver, Toronto and Victoria.
Affordability to become even more strained, affordability deterioration is poised to moderate with prices expected to continue to rise in the near term, maybe prices flattening out in 2022.
Obviously being RBC is may have some bias leaning towards the banks perspective.
https://thoughtleadership.rbc.com/ca...ing-away-fast/
#710
Re: real estate prices in Canada sustainable?
RBC housing report.
RBC’s aggregate affordability measure worsens the most in more than 30 years.
Every market and housing category got less affordable, with Toronto, Vancouver and Ottawa leading the pack with the worst deteriorations.
Prairies and parts of Atlantic Canada ownership costs not an overly burden, burden is heaviest in Vancouver, Toronto and Victoria.
Affordability to become even more strained, affordability deterioration is poised to moderate with prices expected to continue to rise in the near term, maybe prices flattening out in 2022.
Obviously being RBC is may have some bias leaning towards the banks perspective.
https://thoughtleadership.rbc.com/ca...ing-away-fast/
RBC’s aggregate affordability measure worsens the most in more than 30 years.
Every market and housing category got less affordable, with Toronto, Vancouver and Ottawa leading the pack with the worst deteriorations.
Prairies and parts of Atlantic Canada ownership costs not an overly burden, burden is heaviest in Vancouver, Toronto and Victoria.
Affordability to become even more strained, affordability deterioration is poised to moderate with prices expected to continue to rise in the near term, maybe prices flattening out in 2022.
Obviously being RBC is may have some bias leaning towards the banks perspective.
https://thoughtleadership.rbc.com/ca...ing-away-fast/
#711
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Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
Re: real estate prices in Canada sustainable?
Presumably being bought by either retiree's who have already made their money or else those who have well paid employment. Oh how the other half live!
#712
Re: real estate prices in Canada sustainable?
The boomers now remortgage and add properties.
if the Bank of Canada put interest rates up to 5% tomorrow it would end this.
No government can afford it to end though so they'll keep coming up with ways to keep it going until they are outsmarted by the market.
And when the market outsmarts them. And it will. Then god help us.
#713
Re: real estate prices in Canada sustainable?
Cheap finance and speculation.
The boomers now remortgage and add properties.
if the Bank of Canada put interest rates up to 5% tomorrow it would end this.
No government can afford it to end though so they'll keep coming up with ways to keep it going until they are outsmarted by the market.
And when the market outsmarts them. And it will. Then god help us.
The boomers now remortgage and add properties.
if the Bank of Canada put interest rates up to 5% tomorrow it would end this.
No government can afford it to end though so they'll keep coming up with ways to keep it going until they are outsmarted by the market.
And when the market outsmarts them. And it will. Then god help us.
I wonder, has your knowledge of the Toronto housing market been enriched at Hooters?
#716
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Re: real estate prices in Canada sustainable?
Can Ontario do it?
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
#717
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Joined: Mar 2009
Posts: 702
Re: real estate prices in Canada sustainable?
Can Ontario do it?
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
And not as per foamer-bait like:
"If we're not able to build these homes, it's more people living in tents, getting evicted from parks. It's more families having to drive further and further away from Toronto, further away from their jobs in order to afford a home. It's more people moving to other provinces. It's us losing talent from around the world. "
Or more houses might get built, perhaps.
#718
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Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,840
Re: real estate prices in Canada sustainable?
Can Ontario do it?
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
#719
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Joined: Oct 2016
Posts: 810
Re: real estate prices in Canada sustainable?
Can Ontario do it?
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
It's the same with housing.
The thing is to keep prices up, they would have to keep interest rates on the lower end, ( not like in the 70ies and 80ies ) keep bringing in immigrants and keep building not enough to satisfy demand and also keep the economy going so that people or at least certain professional fields can have a good income....
Given the fact that land transfer tax and annual property tax are calculated by the value of the property, I don't see any motivation of politicians and lawmakers to make housing more affordable.
#720
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Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
Re: real estate prices in Canada sustainable?
Can Ontario do it?
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
Ontario needs to add 1 million homes over the next 10 years just to keep up with population growth.
Currently it appears in a typical year 70,000 housing units of all times are added, but this needs to be 100,000/yr to keep up with growth.
https://www.cbc.ca/news/canada/toron...omes-1.6204829
- the ones in the link are just for the 'downtown core' - not up the mountain or outskirts of the all encompassing 'City of Hamilton' - which now includes Stoney Creek, Dundas, Ancaster etc.,
https://www.buzzbuzzhome.com/ca/plac...lton-county-on