This past week we saw a whirlwind of developments in Ontario, from rising mortgage rates, employment challenges, government rate cuts, and debates around immigration’s impact on GDP. This reflects the complexities of the rapidly changing economic and policy landscape and also highlights both the vulnerabilities and potential shifts in Canada’s housing and economic framework. TheContinue reading “tumultuous week for housing market amid economic and policy shifts”
Tag Archives: realtor
new stats show surge in housing starts
As per latest statistics, Canada’s housing market exhibited a significant uptick in housing starts, up by 8% in the month of October compared to the previous month and reaching a seasonally adjusted annualized rate of 240,761 units. The growth is largely driven by multi-unit and single-family home projects, suggesting resilience amid ongoing economic challenges. EconomistsContinue reading “new stats show surge in housing starts”
new Statistics Canada data reveals homeownership’s wealth-building power
A new report released last month by Statistics Canada reinforces the financial advantages of homeownership over renting. The report, titled The Assets, Debts and Net Worth of Canadian Families, 2023 shows how with a median family net worth at an impressive $519,700 and median home values at $500,000, property ownership is a cornerstone of long-termContinue reading “new Statistics Canada data reveals homeownership’s wealth-building power”
Bank of Canada dampens hopes for quick housing fix
Bank of Canada’s Senior Deputy Governor, Carolyn Rogers warned today that mortgage structure changes would not help solve the housing affordability crisis. At a time when policymakers and industry stakeholders are grappling with the complex challenges facing the housing sector, this is a very sobering message. However, I saw this as long coming, as whileContinue reading “Bank of Canada dampens hopes for quick housing fix”
surge in Canadian housing market activity forecasted as interest rates fall
A whirlwind of activity is being predicted for the next quarter as investors attempt to offload properties given the lower interest rates and new mortgage reforms. In light of this, various experts are anticipating a substantial increase in housing market activity for the remainder of the year which could potentially reshape the landscape for buyers,Continue reading “surge in Canadian housing market activity forecasted as interest rates fall”
government expands 30-year amortization period and raises insured mortgage cap
In a landmark decision aimed at easing Canada’s housing crisis, the federal government has announced major changes to mortgage rules. Set to take effect starting on December 15, 2024, the announcement details a plan to expand 30-year amortizations to all first-time homebuyers and to increase the insured mortgage cap to $1.5 million. A notable componentContinue reading “government expands 30-year amortization period and raises insured mortgage cap”
SP Singh Ahluwalia 