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In Canada rates are creeping up from really low, often under 2% still.
by elevaet 4y ago
In Canada rates are creeping up from really low, often under 2% still.
- jbay808 4y agoThat's probably because Canadian mortgages are essentially all adjustable rate.
- refurb 4y agoAnd a median sale price that has hit ~$800,000, which is double the US.
- elevaet 4y agoIt's nuts. Canada has a lot of good things going for it, but housing affordability is at a crisis point.
- refurb 4y agoIt is. You can just look at the US and Canada over the same time period to see how out of wack Canada is. Canada is basically the US minus the 2008 crash. It's just price inflations non-stop for 20 plus years.
- onlyrealcuzzo 4y agoIsn't it 40 years?? My understanding is prices crashed hard in the 70s, there was a slight decline in 1990 and 2008, and other than that they've been going up 5-10% per year.
- refurb 4y agoThe last big crash was 1990 in Toronto. Price dropped and didn't recover until the early 2000's. https://urbaneer.com/blog/when-dreams-of-domesticity-became-nightmares-steve-fudge-urbaneer-bosley-recounts-the-1989-toronto-housing-market-crash https://urbaneer.com/blog/when-dreams-of-domesticity-became-...