Vancouver dwelling gross sales are up practically 12 per cent over final yr and Toronto’s actual property market additional intensified final month. Gross sales topped a November document and common promoting costs reached a brand new all-time excessive in that market.
The common dwelling value is up nearly 22 per cent yr over yr to greater than $1.1 million and cities throughout Canada are seeing comparable tightening circumstances.
As Anne Gaviola explains, home buyers are a giant think about sky-high dwelling costs.
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Blackrock is buying everything and Vangaurd. Everyone will own nothing and be happy
Also the hope that domestic investors that a foreign speculative investor will be interested in their property when they want to sell it in the future keeps those prices soaring.
I am recalling Mohatma Ganhdi's quote " There is enough for everyone's need but not for everybody's greed"
You just have to tax all those with multiple properties heavily if it is not their primary residence! They tried it back in the 70s. Once the market has cooled, lift the tax. lol 😆
The media can say what they want, but with unprecedented fiscal spending, and insane money printing from the central bank, this is the symptom. Investors are simply hedging against the massive inflation caused by our government.
People using HELOC to buy other properties needs to be stopped atleast for now, this is getting insane and putting everything in correction territory.
we need to stop immigration immediately. enough lying already. we need a real solution. end to immigration forever
Home prices are not going up, the value of your canadian dollars is going down. This is caused by government printing and spending
lot of people that have a house there house prices has doubled in value so now they are buying 2-3 homes. and getting them on rent that is whats going on the houses being bought are income properties. there is not one person in
Toronto that does not have 2-3 homes that are on rent.
i know some one that bought a house in 2019 in Brampton 905 area was $8883,027, While a similar home in Toronto will cost $1,174,134 prices are ricing faster but peoples salaries are still the same.
They must hike the rates substantially to punish these greedy people and let the average person afford a house.
A person can’t buy a house anymore because investors are buying them up. That is messed up. It’s one think to buy 1 house and put it on rent but don’t buy home up 4-5 homes and rent them out when other people are having a hard time getting there offer in.☹️
before they said chinese are buying all the houses now domestic
I guess I gotta accept the fact that the only time I’ll ever own a house is when my parents pass away. 🙁
Restrict Airbnb to home owners only on their homes not on their rentals and 5 – 10% of empty home tax, if you are not renting your place to locals. Then you will see a spectacular correction or Canadians will live free of any tax from all the money this will generate.
What a mistake of overbidding, just to get what you want.
When those interest rates go up, a lot of owners will be caught off guard.
If you can't afford a house you don't deserve one. You aren't entitled to anything especially if you didn't work as hard as I did in university and in my job to get what I have. Tough. You failed at life.
Property speculation is the problem.
Because in Canada property speculation is the only investment guarantee to increase year on year.
The solution:
New construction needs to be about 40% large coops units which are shared building ownership and individual unit ownership.
You buy a share of the building or building complex. When you sell, the money from the shared ownership goes to the coop community or is not sold because it was rented.
Coop government regulation needs to be improved so that building management companies are libel for the advice they provide.
Canadians should be capped on how many homes one can legally own. Someone should not be able to own hundreds of units that’s just insane. It’s not foreigners out-pricing Canadians, it’s Canadians out-pricing Canadians….housing is not a commodity but a basic human right. Canadian’s mentality needs to shift from only buying what you need…not greed.
I watch several YouTube videos on how to trade in the stock market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands