It’s no surprise that Canada’s Housing Market is out of control. Find out if the Canadian Housing Bubble is about to burst and what will happen to the future of Canada’s Housing Market. In this video, I will talk about the dynamics behind Canada’s Housing Prices and the impact of Foreign Money that has caused Canada’s Real Estate market to go out of control.
Canada’s Housing market is showing signs of cooling as the number of sales are dropping. However, prices are still higher compared to a year ago. The avg selling price in Canada for a home is over 681k today.
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▶CANADIAN HOUSING MARKET CRASH 2021 – Prices Coming down the Mountain?
▶ CANADIAN REAL ESTATE MARKET 2021 | How Long Will the Housing Market KEEP GOING?
The average price number can be misleading because it can be easily skewed by sales in big expensive markets like Toronto Real Estate and Vancouver Real Estate. To understand the dynamics of Canada’s housing market, we need to distinguish between two prices: the price of owning a house in Canada, and the price of renting in Canada
One way to look at the Housing Market in Canada, you can think of the earnings of home ownership along the same lines as the earnings of any business: they are the difference between revenues and costs. Landlords, revenues take the form of monthly rental payments. Owners/occupiers of real estate in Canada, they take the form of savings earned from not paying rent, or what are known as imputed rents.
By lowering the cost of Canadian home ownership, these policies contribute to problem they’re trying to solve higher house prices. Not to mention money-laundering through real estate, along with speculative frenzies in major cities, all help to explain Canada’s exceptional rate of house price growth. The Ontario Housing Market has exploded in recently memory especially Toronto Real Estate.
An internal Canada Revenue Agency audit concluded 25 years ago that wealthy new immigrants were buying up Vancouver Real Estate while declaring poverty on tax returns. Think about the scale of foreign money being parked in Vancouver Real Estate, GTA housing market and Ontario’s Housing Market
The liberals have proposed to ban foreign home buyers for at least two years. The government needs to clamp down on international real estate speculation impacting the home prices in Canada. Wealthy new immigrants are focused on Canadian Real Estate investing, buy acquiring rental property to increase their exposure to real estate investing in Canada.
CRA failed to catch those hiding their global incomes while competing for homes in Canada. Canada’s housing supply hasn’t kept pace with population growth, net immigration accounted for 80 per cent of the country’s population growth. No wonder so many are waiting for a Housing Market Crash in 2021.
Toronto is still besieged by the tightest real estate market in recent memory. If you can’t afford a house in the city and your job requires you to show up to work in-person, your options are limited. The reality is that Toronto is not unique — housing affordability in major cities is a global problem.
Vancouver saw the largest uptick in new listings, while Montreal saw a 3.7% increase. Ottawa, Calgary, Edmonton, and Toronto, on the other hand, all experienced decreases.
Disclaimer: This channel is for education purposes only and opinions expressed in this video are based on personal research and should be treated as such. These are not instructions, suggestions, nor directions as to how to handle your money. The facts and figures presented in this video are up-to-date based on the recording. These may have changed based on when you watch the video. Please, always do your own due diligence!
#CanadaHousingMarket #CanadaRealEstate #HousingBubble