Kanadas Immobilienmarkt leidet laut BIZ unter dem größten Preisrückgang unter den großen Volkswirtschaften
https://financialpost.com/real-estate/canada-housing-market-largest-price-decline-major-economies
Kanadas Immobilienmarkt leidet laut BIZ unter dem größten Preisrückgang unter den großen Volkswirtschaften
https://financialpost.com/real-estate/canada-housing-market-largest-price-decline-major-economies
34 Kommentare
Insert Kylo Ren More meme here
And it’s just the beginning unless immigration picks up again. Our house prices were being held up by an ocean of migration
Toronto, Vancouver, MTL rents are still very high and have barely moved even tho everyone is acting like the sky is falling. we need a serious correction
Isn’t this what everyone wanted? This is a good thing, right?
yah from 2 mil to 1.5 mil… affordable right?
“Suffers” is not the term I would use.
More plz.
Unless the cost of building comes down then this won’t help.
It was over-inflated. This is a correction (somewhat). Hoping this leads to more people accessing home ownership.
This is the greatest headline we can get lol Fuck the bankers who say otherwise. Fuck any part of the economy that MUST have ever increasing prices to survive!
_’suffers’_…
the only people suffering are those who already own a home. In fact, they aren’t really suffering unless they’re planning on selling and starting to rent. The only people suffering are those using housing as an investment.
Unless 1) the feds open up the door to foreign capital whether through ramped up immigration or repealing the foreign buyer ban or 2) wages magically increases dramatically, residential real estate will need to fall in price more to close the bid/ask spread. Otherwise, there is no liquidity.
My gut tells me the liberals will cave and go with option one. Ultimately this will favour sellers since demand will not be constrained by local incomes (which we are seeing currently it is). Remember when Carney said he wanted to work in fixing inequality? We’ll the only way that happens is if prices of real estate fall. Any attempts by the government to increase liquidity (outside of dramatic wage increases or immediate increases in supply, both of which are unrealistic) will be a kick in the face to FTHB.
Is it a decline? Or a readjustment when they were artificially inflated during COVID. Now those that gotta sucked into those prices face huge losses.
Now we just need to get rid of bidding wars and things will hopefully start to become more manageable.
Finally ✨
Great!!
Good
Suffers????
I would say that this is a good thing.
Now hopefully the speculators loose everything they own and housing prices reach a reasonable level say 5 x annual income rather than the present 10 x annual income.
Basically we need to see housing valuations revert to 1900s levels in comparison to annual income
Yep some recent buyers might be hit but programs designed to only support those people in owner occupied units.
The rest who saw housing as a financial asset that could be flipped for capital gains can get fucked
Not where I am living unfortunately. I still see a lot selling 50-120k more than asking.
Except in Victoria?
Elbows up though, eh? Derp.
Vancouver rent prices have declined by a couple of hundred dollars since last year but still high for some folks. I check out real estate listings almost daily and houses have been sitting on the market longer but prices still have not gone down enough.
The hope is to buy a place big enough for a small family. Unfortunately, condos have gotten smaller (shoeboxes) and houses are out of reach for most of the working middle class…
Waiting for the housing market to drop some more.
Niagara clearly hasn’t got the memo
At last, the housing bubble is over. Maybe young people will be able to afford to buy homes now?
What goes up must come down.
https://www.visualcapitalist.com/mapped-the-worlds-most-unaffordable-housing-markets/
Suffer???
We are describing a move to (somewhat) more affordable housing as suffering?
Woe are the times when we can say “nee” to old ladies at will.
If there is a single dominant way to increase worth through investment instead of production (home ownership), the larger economy will be unsustainable.
This is an incredibly simple equation our finance class is unwilling to address adequately.
Good.
I am a home owner and still think this is needed even as my house sheds massive equity.
Still needs to drop lower, but it’s much closer to been attainable than it was.
Actually even saw a full family sized him for 670k in Kelowna for first time in our neighbourhood in 5 years.
They were nearing 850k+ at one point.
Thank fuck it was all overpriced and still is
Keep dropping!
Awesome news, keep going, I hope it craters completely!
Aside from Australia, we were the most over priced market among major economies too
Isn’t this the best case scenario? 20% over 3 years should drive out investors. Keep housing for people and increase affordability but it isn’t such a massive drop that lots of people will be grossly underwater. It’s not a collapse, which was a big risk. Most people that have owned for 5 years will still be good and people that have owned for 10 are definitely still good. It’s not a blood bath but a needed correction.
Suffers? Poor choice of words to describe the market. What a joke😂
Oh no! Completely unaffordable housing prices are coming down!! How about all the folks suffering from the outrageous costs of rent these days?
It’s pretty shameful as a first world country that I keep seeing posts asking for advice on how to live in a vehicle while going to school or the pressure on the food banks from people employed full time.
Hell, I make decent money and gave up on the thought of owning a home years ago.