Canada, Taiwan, Finland & New Zealand Economies Most At Risk (Real Estate)

[Economy 52,861]

https://betterdwelling.com/global-real-estate-downturn-can-kill-growth-canada-most-vulnerable-ox-econ/

 

Canada, Taiwan, Finland and New Zealand have the highest share of economy made up of realestate investment in the world

 

Canada 9%

Taiwan 7.6%

New Zealand 7.1%

Finland 7%

 

Because so much of GDP is tied of to realestate, a slowdown from rising rates puts these Countries in an especially vulnerable spot according to Oxford economics 

 

Canada for example which currently has the highest interest rates in the developed world has already seen double digit real estate price declines since prices started falling just 5 months ago

[Fuffy 1,049]

The real estate market in Canada is insane, I thought it was expensive when I lived in Asia and Europe, but demand just really can't catch up with the supply here. 

I'm aiming to buy a condo in Ontario next year if my rent goes up beyond my acceptable limit. Though my downpayment is gonna have to be 40-60% because those mortgage/interest rates are really awful. 

I'm a big fan of renting but the rent prices are so insane and they won't drop despite the buying prices, it's actually cheaper to take on the mortgage. At least that way, it appreciates. 

I'm an insanely frugal person, I have no idea how people are going to afford a mortgage or even rent, especially if they have a busy social life or want kids. 

[Economy 52,861]

31 minutes ago, Gogo Yubari said:

The real estate market in Canada is insane, I thought it was expensive when I lived in Asia and Europe, but demand just really can't catch up with the supply here. 

I'm aiming to buy a condo in Ontario next year if my rent goes up beyond my acceptable limit. Though my downpayment is gonna have to be 40-60% because those mortgage/interest rates are really awful. 

I'm a big fan of renting but the rent prices are so insane and they won't drop despite the buying prices, it's actually cheaper to take on the mortgage. At least that way, it appreciates. 

I'm an insanely frugal person, I have no idea how people are going to afford a mortgage or even rent, especially if they have a busy social life or want kids. 

I think u mean supply can't keep up with demand

 

And I need to find a rental soon and the prices literally give me anxiety when I search up

[Fuffy 1,049]

3 hours ago, Economy said:

I think u mean supply can't keep up with demand

 

And I need to find a rental soon and the prices literally give me anxiety when I search up

Omg yes woops, you see i'm that tired from saving money i've completely forgotten how to put sentences together properly 

And searching is definitely not fun, the GTA is such a magnet for rent hikes right now. If it's Toronto, take advantage of rent control and shared living where possible. I rented a sofabed and a corner of someone's dining room for $900 when I first moved there pre-covid 

Fingers crossed for you!