Barnaby
Active Member
Owning a single family home is a no-go for me. I'll never do it. It's not a money thing for many people that like cities.
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- Thread starter Daveography
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David A
Senior Member
People have been waiting for prices to go down in Toronto and Vancouver for a very long time. If it hasn't happened with the recent sharp rise in interest rates, I doubt it will happen when interest rates start to go down again soon.
That is also why a lot of people from there are moving to more affordable places elsewhere like here. If the high prices there were felt to be temporary, they would just wait it out.
Most people do have limits on what they can spend for housing and when prices exceed that, as they have in many places elsewhere in Canada, people end up making different choices (condo vs SFH, moving elsewhere, living with parents, etc ... ).
snowman123
New Member
Yep, at some point financial reality will hit and places like TO/ Vancouver will flatline, but, I doubt prices will drop. Maybe some categories, but overall, I'm thinking thy wont. We are probably closer to rates coming down ( a little) than when rates went up.
During the pandemic, rural properties increased a little ( I heard of a few people moving back to where they came from, eg, NS, NB). Prices may not trend much lower. Not a good feeling for people wanting to buy. It is not cheap nor easy nowadays to buy a place.
MacLac
Senior Member
IanO
Superstar
David A
Senior Member
Two people I have spoken to in the last week have mentioned a lack of housing inventory for sale, so I think this may be becoming more of an issue than recent past monthly figures suggest.
If migration is not increasing demand enough already, I suspect rents currently increasing in double digit percentages will also lead to more people looking to buy in the upcoming months.
financialpost.com
If migration is not increasing demand enough already, I suspect rents currently increasing in double digit percentages will also lead to more people looking to buy in the upcoming months.
Rents in Alberta growing faster than any other province in Canada
Rent prices are continuing to rise faster in Alberta than in any other province, even as the rate eases in Calgary.
financialpost.com
IanO
Superstar
I don't think we are at a supply issue as of yet, but I suspect by summer that might be a real issue.
Gronk!
Senior Member
Could converting parking lots help the national housing crisis? Toronto is considering it
Low housing inventory, record home prices and sky-high rent are all contributing to a housing crisis playing out across the country, forcing cities to get creative.
TAS
Senior Member
CNN —
The 6% commission, a standard in home purchase transactions, is no more.
"By some estimates, real estate commissions are expected to fall 25% to 50%, according to TD Cowen Insights."
The 6% commission, a standard in home purchase transactions, is no more.
"By some estimates, real estate commissions are expected to fall 25% to 50%, according to TD Cowen Insights."
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David A
Senior Member
David A
Senior Member
Spring real estate season could be hotter than usual
MacLac
Senior Member
MacLac
Senior Member
First the CBC amd now this….”80% of all YEG construction is rentals in 2023.” So maybe we’re coming out of funk? Or we’re building lots of rentals but not enough? So which is it?
buildings
Active Member
asking prices for units in my condo building have risen 30- 40K$ since last summer; anecdotal I know but something is stirring.
IanO
Superstar
Our have remain stagnant and ~25%-30% below pre-covid but 2 units have sold in 2024 so that's something, I guess.