released on Thursday, RBC assistant chief economist Robert Hogue said that while “demand-supply conditions look reasonably balanced nationwide” that is not the case in many of the country’s most expensive real estate markets in Ontario and British Columbia.
Hogue predicts that because of that buyers “will succeed in further reversing some of the earlier outsized price gains in Ontario and BC in the near term,” even if the slide in prices starts to stabilize nationally where the ratio is closer to 0.50.housing prices in the GTA could drop nearly 12 per cent in 2023.
The average price of a home across all property types in the GTA peaked at $1,334,062 in February but hasamid an aggressive campaign by the Bank of Canada to hike interest rates.
The hell? It's a nobody market because there is a lack of availability and places are often left empty because people aren't willing (or able) to pay the rent.
they wanna prop up the market. if 90% of people can't afford to buy a house, its not a buyers market.
With 6% rate a banker would definitely wanna lock in customer for 5 years. Buyers market for those who have liquid cash.
It’s a “BUYERS” market for those with liquid cash & big $ in place. First time buyers still have to save $200,000 to put down on a $1 million dump & 🙏🏽 one of the 4 major banks with give them $800,000 on a mortgage. Ages 19-35 are in one hell of a mess in 🇨🇦
Me going to a bank asking for a loan to buy a house in Toronto