The numbers are in and, as one economist puts it, April was the cruellest month for the housing market.
Aside from Calgary and Edmonton, home sales in other major Canadian markets have sunk below their pre-pandemic levels, says Capital Economics. “April proved to be the cruellest month for the housing market, with the recent jump in mortgage rates causing large falls in sales across the country,” wrote Capital’s senior Canada economist Stephen Brown.
financialpost Lol. BoC caused this mess and now they’re going to fix with a sledgehammer.
financialpost Why ? Because Pierre Millhouse and his wife are losing money on their investment properties ?
financialpost You can’t buy a crack den for under $1.5M in Toronto. Let it fall
financialpost Maybe Toronto is cooling but here in Courtice there are a lot home sales happening. I haven't seen this many ever and they are all selling just as fast as before. Everywhere you see signs saying buying houses for cash call this . Maybe the investment money is moving away from TO
financialpost They can't, unless the tail (Canada) has suddenly found a way to wag the dog(United States)
financialpost Let it come crashing down .
financialpost if this ruins some real estate agents and brokers let's keep this trend going!