Home Authors Posts by Kunal Sawhney
Things might change if a frustrated group of homebuyers decides to borrow a leaf from the book of stock investors that convene on Reddit.
Active, hyper-active or subdued; rally, correction or crash? How might Canada’s housing market look like in 2022?
Now that we are recovering from the pandemic shock that brought cities and factories to a screeching halt, it might be the opportune time to reflect on taxes, especially land transfer taxes.
In its latest report on the housing market, the Royal Bank of Canada cited “tight supply” as the primary reason behind a dip in housing activity. In August, housing inventories in Toronto were down 51 per cent compared with August 2020.
Several pledges by the Liberals concern the housing market in Canada. Among other things, the party declared that a ban on blind bidding during real estate transactions would follow their return to Ottawa.
CREA data tells us the March 2021 peak of over $716,000 is now a thing of the past. The average price in August was $663,500, about the same as July. For four straight months, prices headed south before leveling off.
A buildup of high mortgage debt remains an outlier, and a likely cause of concern but only in the event of a slower-than-expected economic revival.
“Has the market peaked” or “is the bubble nearing its burst” are questions that are dominating the housing market of Canada.
What does housing demand rely on? Is it the need to buy something or having more-than-enough disposable income?
In the past couple of months, the sales figures have slowed, according to data from CREA. Does this mean Canada’s housing market growth has reached its peak?
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