Soaring real estate prices are inspiring Canadians across the country to jump into homeownership, even if they can’t afford it.
Vancouver condo prices rising despite less sales? It has to do with inventory, that dropped giving the same relative demand as last year.
Toronto condos saw prices rise over 23% in March. The increased prices come with increased sales, and weaker inventory than last year.
New data from the Ministry of Finance shows that Toronto real estate has a bigger problem than foreign buyers, speculators from Toronto.
Canada’s addiction to credit has created a massive shadow banking sector, which is now more than half the size of traditional banks.
Vancouver real estate got a little good news in March. Detached homes stopped their 8 months slide, with a pretty solid uptick in prices.
Toronto real estate saw a sharp increase of new detached homes listed in March, setting a new single month record.
The rush to cash in on Vancouver’s premium land values had led to a 45 year high for new construction starts in the city.
Weekly wages increased slower than the rate of inflation, leaving many Canadians with less buying power than last year.
Vancouver real estate saw prices climb, despite less sales and more inventory. That’s how supply and demand works, right?