Economy 52,838 Posted August 11, 2017 Share Posted August 11, 2017 http://www.bnn.ca/rosenberg-toronto-housing-slowdown-is-good-for-canada-s-economy-1.824788 https://www.google.ca/amp/www.cbc.ca/amp/1.4208256 Home Prices in Canada have fallen 14% since March alone (19% in Toronto Area) and sales have dropped 40%. Spring/Summer usualy sees prices rise and volumes increase instead A surprise increase in interest rates by the Central Bank and yet a new round of measures to cool the housing market has appeared to spook the market and potentially trigger the crash many have long feared Still, the economy continues to post very robust job gains and GDP gains as other sectors of the economy more than offset a sharp contraction in housing So far Canada is still expected to post the strongest growth in the developed world despite possible housing woes Link to post Share on other sites More sharing options...
JustinTrudeau 2,419 Posted August 11, 2017 Share Posted August 11, 2017 So wait, did the sales influence the house prices? Cause I bet that if the prices were lower, there would be more sales. I fell down the stairs once as an actor. Link to post Share on other sites More sharing options...
Economy 52,838 Posted August 11, 2017 Author Share Posted August 11, 2017 @Luc If this really is the beggining of a housing crash... I wonder if this coming when the economy grew 4.7% in past year (biggest growth in 17 years), created 380,000 full-time jobs and seeing big growth in manufacturing, exports and of course infrastructure stimulus rippling thru economy... Do u think its possible under current circumstances that a bad housing crash will not cause a recession? Link to post Share on other sites More sharing options...
Economy 52,838 Posted August 11, 2017 Author Share Posted August 11, 2017 3 minutes ago, ZarinStar said: So wait, did the sales influence the house prices? Cause I bet that if the prices were lower, there would be more sales. Lower demand (resulting in lower sales) means lower prices less bidding wars and fewer ppl were buying and more ppl waited on the sidelines to see what would happen after higher rates and new mortages rules in Ontario Link to post Share on other sites More sharing options...
Economy 52,838 Posted August 11, 2017 Author Share Posted August 11, 2017 @Woolfsmck It may finally be happening... the crash 👀 Yet in our case the economy may not crash with it 😁 Link to post Share on other sites More sharing options...
Maleficent 6 Posted August 11, 2017 Share Posted August 11, 2017 The housing markets in Vancouver and Toronto need to be corrected. Prices are ridiculous! Glad this strange price hike hasn't impacted Montreal (yet and hopefully never will). Link to post Share on other sites More sharing options...
Economy 52,838 Posted August 11, 2017 Author Share Posted August 11, 2017 12 hours ago, Maleficent said: The housing markets in Vancouver and Toronto need to be corrected. Prices are ridiculous! Glad this strange price hike hasn't impacted Montreal (yet and hopefully never will). Ottawa of the larger cities seems to have remained the most affordable Link to post Share on other sites More sharing options...
Maleficent 6 Posted August 11, 2017 Share Posted August 11, 2017 16 minutes ago, Economy said: Ottawa of the larger cities seems to have remained the most affordable I would only live in Ottawa if I had a really really powerful political career. Otherwise it’s just not worth it. Link to post Share on other sites More sharing options...
Economy 52,838 Posted August 11, 2017 Author Share Posted August 11, 2017 3 minutes ago, Maleficent said: I would only live in Ottawa if I had a really really powerful political career. Otherwise it’s just not worth it. Its the most economical city in Canada tho A big study found that Ottawa had the best Wages/Employment Rates in relation to cost of living in all of Canada As a result the average person in Ottawa has more disposable income left after paying bills than in any other of the larger cities in Canada! Link to post Share on other sites More sharing options...
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