3 ms·

House prices in Canada are dropping this year. Not much, and from an insanely high base, but the need to refinance at a higher interest rate has forced some p

House prices in Canada are dropping this year. Not much, and from an insanely high base, but the need to refinance at a higher interest rate has forced some people to sell.

applied_heat 1y ago
The condo market is hurting the most. Which is exactly what people have been asking for - lower prices - achieved by vacancy tax, foreign buyer ban, speculator tax, and no rights for landlords.
- betaby 1y ago
  > The condo market is hurting the most. Are you talking about specific areas of Toronto? Condo prices in Montreal are growing at about inflation rate.
betaby 1y ago
> House prices in Canada are dropping this year. Where exactly? For example, I live in Montreal, the stast for August: Single-family home median price increased by 7.3% year-over-year to $633k. Condo median price increased by 3.7% year-over-year to $422k. Plex median price increased by 10.1% year-over-year to $840k.
- dghlsakjg 1y ago
  https://globalnews.ca/news/11469803/canada-fall-housing-market-low-key-start-rbc-report/ https://globalnews.ca/news/11469803/canada-fall-housing-mark... > While some major markets — Winnipeg, Regina, and Toronto — saw home resales go up from August to September, most markets remained tepid. > Vancouver, Calgary, Edmonton, Saskatoon, Hamilton, Ottawa, Montreal and Halifax saw slight declines, “suggesting the recovery is still uneven and fragile,” RBC economist Robert Hogue said in the report. I know that out here on the west coast my property valuation has dropped from the peak. Not much, but it’s clear from talking to realtors that you just can’t buy a house and flip it a year later anymore. I think that depending on how you slice the data,
- BJones12 1y ago
  Toronto, mainly. Other places may be down but not enough to notice. Quebec plays by its own set of rules.

3 ms·

House prices in Canada are dropping this year. Not much, and from an insanely high base, but the need to refinance at a higher interest rate has forced some p

by bryanlarsen 1y ago

House prices in Canada are dropping this year. Not much, and from an insanely high base, but the need to refinance at a higher interest rate has forced some people to sell.

applied_heat 1y ago
The condo market is hurting the most. Which is exactly what people have been asking for - lower prices - achieved by vacancy tax, foreign buyer ban, speculator tax, and no rights for landlords.
- betaby 1y ago
  > The condo market is hurting the most. Are you talking about specific areas of Toronto? Condo prices in Montreal are growing at about inflation rate.
betaby 1y ago
> House prices in Canada are dropping this year. Where exactly? For example, I live in Montreal, the stast for August: Single-family home median price increased by 7.3% year-over-year to $633k. Condo median price increased by 3.7% year-over-year to $422k. Plex median price increased by 10.1% year-over-year to $840k.
- dghlsakjg 1y ago
  https://globalnews.ca/news/11469803/canada-fall-housing-market-low-key-start-rbc-report/ https://globalnews.ca/news/11469803/canada-fall-housing-mark... > While some major markets — Winnipeg, Regina, and Toronto — saw home resales go up from August to September, most markets remained tepid. > Vancouver, Calgary, Edmonton, Saskatoon, Hamilton, Ottawa, Montreal and Halifax saw slight declines, “suggesting the recovery is still uneven and fragile,” RBC economist Robert Hogue said in the report. I know that out here on the west coast my property valuation has dropped from the peak. Not much, but it’s clear from talking to realtors that you just can’t buy a house and flip it a year later anymore. I think that depending on how you slice the data,
- BJones12 1y ago
  Toronto, mainly. Other places may be down but not enough to notice. Quebec plays by its own set of rules.