Home Authors Posts by Kunal Sawhney
Budget 2022 has the word “affordability” written loud and clear for virtually every aspect. Housing features in its Foreword and the government has expressly conceded that Canada “does not have enough homes.”
Reports suggest people are flocking to mortgage agents to seek advice on how rate hikes would impact their home loan repayments. According to estimates, mortgage loans have a substantial share in the total household debt in Canada.
The housing market of Canada, which seemed to remain unscathed from the pandemic so far, may spring a surprise, if not immediately, then in the medium to long term.
Could soaring home prices trigger a “Freedom Convoy” type protest by disgruntled low-income households?
Sanity is not a bad thing. Prices coming down to realistic and justified levels can only make the housing market more robust in the long term.
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.
12Page 1 of 2