Canadian housing market
The slowdown seems to be over.
Here are some of the most affordable places to live in Canada
Toronto is believed to be the top preferred destination in Canada.
Policymakers were right to tax foreign buyers and reduce how much you can borrow, a new report finds.
Spring has sprung, and while spring season is normally an occasion to celebrate, with days growing longer, weather getting warmer and real estate heading into busy season, everything feels a little different this year. Canada's real estate markets are dealing with myriad of issues.
As the saying goes, good things come in small packages. In fact, this may be the mantra for many homebuyers in 2017, given the steady rise in real estate prices. National housing affordability hit an eight-year low in the third quarter of 2016, according to the latest Housing Trends and Affordability Report issued by RBC Economics Research.
The most commonly repeated explanation for the price surge last year and into 2016 is an increase in foreign buyers, especially Chinese buyers looking to launder their ill-gotten funds. Anecdotal evidence of this happening is at record high, but actual data to support it is severely lacking.
Have you ever tried to get a mortgage in Canada? You need to qualify. You need to provide tax assessments, pay slips, T4s -- you need to prove your income and verify in triplicate that you'll be able to pay the mortgage. With good income and great credit, you're not a huge credit risk.
Regardless of your motivation, renting is a great option for many of us across the country. Affordability and convenience are just a couple reasons why people prefer this option and others just like the change of scenery and inspiration that a new neighbourhood can offer. Here are some of the cities in Canada with the greatest increases and decreases in housing rental costs.
Armchair economists from Toronto to Vancouver are debating the existence of a housing bubble, and I'm not taking sides. Maybe there is a bubble and maybe there isn't. But if you've been thinking about your worst-case scenario, you're in good company.